If property sold for $146,000. its contract rent was $800 and its market rent was $850. The grm is:171.8
Gross rent multiplier
Using this formula
Gross rent multiplier=Property selling price/Market rent
Let plug in the formula
Gross rent multiplier=$146,000/$850
Gross rent multiplier=171.76
Gross rent multiplier=171. 8(Approximately)
Therefore If property sold for $146,000. its contract rent was $800 and its market rent was $850. The grm is:171.8.
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