Real Estate Math
A property has a gross rent multiplier (GRM) of 14 and generates $2,800/month in gross rent. What is the estimated value?
A$39,200
B$470,400✓ Correct
C$336,000
D$504,000
Explanation
Annual gross rent = $2,800 × 12 = $33,600. Value = GRM × Annual Gross Rent = 14 × $33,600 = $470,400.
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