A Florida valuation problem uses a gross rent multiplier of 165 and market monthly rent of $2,100. What value indication results from that GRM analysis?
Correct Answer
B) $346,500
Multiply the market monthly rent by the gross rent multiplier: $2,100 × 165 = $346,500.
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Using the cost approach in a Florida appraisal problem, land value is estimated at $85,000, replacement cost new at $280,000, and total depreciation at $45,000. What is the indicated value?
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In a Florida sales-comparison problem, a comparable sold for $465,000. The comparable is inferior to the subject in one item requiring a +$12,000 adjustment and superior in another item requiring a -$7,000 adjustment. What is the adjusted sale price of the comparable?