Real Estate Math
A Wyoming rental property generates $2,200 per month in gross rent. Using a Gross Rent Multiplier (GRM) of 110, what is the estimated market value?
A$110,000
B$242,000✓ Correct
C$264,000
D$290,000
Explanation
Value = GRM × Monthly Rent = 110 × $2,200 = $242,000. Using the values given ($2,200), apply the appropriate formula..
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