Real Estate Math
A 10-unit complex in Ogden sells for $1,200,000. Monthly rents average $1,100/unit. What is the GRM?
A100
B109✓ Correct
C120
D132
Explanation
Monthly gross rent = 10 × $1,100 = $11,000. GRM = $1,200,000 / $11,000 = 109.
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