Real Estate Math
A South Dakota investor pays $150,000 for a rental property and receives $1,500/month in rent. What is the annual gross rent multiplier (GRM)?
A8.33
B10
C100✓ Correct
D12
Explanation
GRM = Sale Price ÷ Monthly Gross Rent = $150,000 ÷ $1,500 = 100. Using the values given ($150,000, $1,500), apply the appropriate formula..
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