Real Estate MathQuestion 120 of 120
Monthly rent is $1,500 and the annual gross rent multiplier (GRM) for comparable properties is 12 times ANNUAL rent. What is the indicated property value?
a.$18,000
b.$150,000
c.$216,000
d.$1,800,000
Explanation
Annual rent is $1,500 x 12 = $18,000. Multiply annual rent by the GRM: $18,000 x 12 = $216,000.
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