Real Estate Math
A South Dakota property earns a monthly rent of $900. The GRM for the area is 110. What is the estimated market value?
A$90,000
B$99,000✓ Correct
C$110,000
D$121,000
Explanation
Value = Monthly Rent × GRM = $900 × 110 = $99,000. Using the values given ($900), apply the appropriate formula..
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