Real Estate Math
A property has a GRM of 150 and rents for $2,200 per month. What is its estimated value?
A$300,000
B$330,000✓ Correct
C$264,000
D$360,000
Explanation
Value = Monthly Rent × GRM = $2,200 × 150 = $330,000. Using the values given ($2,200), apply the appropriate formula.. The correct answer is $330,000.. This is a common calculation on the Utah real estate exam.
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