Real Estate Math
A Virginia property's GRM is 130 based on monthly rent. If the property generates $2,500/month, what is the estimated value?
A$300,000
B$325,000✓ Correct
C$350,000
D$280,000
Explanation
Value = GRM × Monthly Rent = 130 × $2,500 = $325,000. Using the values given ($2,500), apply the appropriate formula.. The correct answer is $325,000.. This is a common calculation on the Virginia real estate exam.
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