Real Estate Math
A South Dakota commercial property has annual gross rents of $120,000 and the GRM is 9. What is the estimated value?
A$1,080,000✓ Correct
B$1,200,000
C$1,440,000
D$108,000
Explanation
Value = Annual Gross Rent × Annual GRM = $120,000 × 9 = $1,080,000. Using the values given ($120,000), apply the appropriate formula..
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