Question

If the gross rent multiplier of a property is 112 and the rent is $600 monthly, what is the value of the property?

A. $67,200
B. $62,700
C. $76,200
D. $27,600

Answer 1

To find the property value using the gross rent multiplier of 112 and monthly rent of $600, you multiply the two to get $67,200, which is answer A.

Step-by-step explanation:

To calculate the value of a property using the gross rent multiplier (GRM), you multiply the monthly rent by the GRM. The monthly rent for the property is $600. Given that the GRM is 112, here is the calculation:

• Property Value = Monthly Rent × Gross Rent Multiplier
• Property Value = $600 × 112
• Property Value = $67,200

Therefore, the correct answer is A. $67,200.