Real Estate Math
A Rhode Island duplex sells for $450,000. Monthly gross rents are $3,200 per unit (both units). What is the Gross Rent Multiplier (GRM) based on monthly rents?
A56
B58
C60
D70✓ Correct
Explanation
Total monthly rents: $3,200 x 2 = $6,400. GRM = Sale Price / Monthly Rents = $450,000 / $6,400 = 70.3, approximately 70.
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