Real Estate Math
A Wyoming duplex has two units, each renting for $950/month. Annual expenses are $7,200. Using a GRM of 100, what is the indicated value?
A$114,000
B$190,000✓ Correct
C$95,000
D$228,000
Explanation
Total monthly rent = 2 × $950 = $1,900. Value using GRM = 100 × $1,900 = $190,000.
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