Real Estate Math
A South Carolina property has a GRM (gross rent multiplier) of 9.5. Monthly rent is $2,200. What is the estimated property value?
A$250,800✓ Correct
B$20,900
C$209,000
D$25,080
Explanation
Annual gross rent = $2,200 × 12 = $26,400. Value = GRM × Annual gross rent = 9.5 × $26,400 = $250,800.
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