Real Estate Math
A Richmond investor buys a duplex for $400,000. Each unit rents for $1,400/month. What is the annual gross rent multiplier (GRM)?
A11.9
B14.3✓ Correct
C23.8
D28.6
Explanation
Annual rent = 2 units × $1,400 × 12 = $33,600. Annual GRM = $400,000 ÷ $33,600 = 11.
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