Real Estate Math
A Vermont investment property has a gross monthly rent of $2,800. The gross rent multiplier (GRM) for comparable properties is 145. What is the estimated market value?
A$376,400
B$406,000✓ Correct
C$336,000
D$462,000
Explanation
Value = Monthly Rent × GRM = $2,800 × 145 = $406,000. Using the values given ($2,800), apply the appropriate formula.. The correct answer is $406,000.. This is a common calculation on the Vermont real estate exam.
Related Vermont Real Estate Math Questions
- A Vermont property sells for $415,000. The Vermont Property Transfer Tax is 0.5% on the first $100,000 and 1.25% on the remaining amount. What is the total PTT?
- A Vermont listing has a price of $599,000. The seller wants to net $560,000 after a 6% commission. Is the list price sufficient?
- A Vermont investment property has a purchase price of $450,000, a 25% down payment, and the remaining financed at 6.5%. Annual debt service is $22,680. What is the NOI needed for a 1.20 DCR?
- A Vermont seller accepts an offer of $419,000. The listing broker's commission is 5%. The listing and selling brokers split it 55%/45%. How much does the selling (buyer's) broker receive?
- A Vermont property is purchased for $415,000 with a 5% down payment. What is the loan amount?
- Using the cost approach, a Vermont building has a replacement cost of $320,000, land value of $80,000, and accrued depreciation of $48,000. What is the estimated value?
- A Vermont home appreciated 8% per year for 3 years. If the original price was $250,000, what is the approximate current value?
- A Vermont commercial property produces $90,000 in annual gross income with a 30% vacancy and expense ratio. At a 6% capitalization rate, what is its value?
Practice More Vermont Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Vermont Quiz →