brianhuang87351 brianhuang87351

10-01-2020
Business

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If the monthly rent of a property is $3,000, and the gross rent multiplier (GRM) is 80, what is the value of the property?

Respuesta :

ijaz4308 ijaz4308

10-01-2020

Answer:

$2,880,000

Explanation:

The formula for the purpose of calculation of gross rent multiplier (GRM) is given as follows:

GRM=Value of the property/Annual rent value

Value of the property=?

GRM=80

Annual rent value=$3,000*12=$36,000

80=value of the property/36,000

value of the property=36,000*80

=$2,880,000

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