Real Estate Math
A Texas commercial property has a gross rent of $240,000 and a GRM of 8.5. What is the estimated value?
A$1,800,000
B$2,040,000✓ Correct
C$2,400,000
D$1,920,000
Explanation
Value = Gross Rent × GRM = $240,000 × 8.5 = $2,040,000.
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