Real Estate Math
A property rents for $1,200/month. The GRM for the area is 100. What is the estimated value?
A$120,000✓ Correct
B$1,440,000
C$144,000
D$12,000
Explanation
GRM-based value = Monthly Rent × GRM = $1,200 × 100 = $120,000. Using the values given ($1,200), apply the appropriate formula..
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