Real Estate Math
A South Dakota rental property has a monthly rent of $1,800 and a GRM of 130. What is the property's estimated value?
A$225,000
B$234,000✓ Correct
C$198,900
D$245,000
Explanation
Value = Monthly Rent × GRM = $1,800 × 130 = $234,000. Using the values given ($1,800), apply the appropriate formula..
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