Real Estate Math
A Utah property rents for $1,600/month. The GRM is 130. What is the estimated value?
A$192,000
B$208,000✓ Correct
C$220,000
D$240,000
Explanation
Value = Monthly Rent × GRM = $1,600 × 130 = $208,000. Using the values given ($1,600), apply the appropriate formula..
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