In May 2026, appraiser Devon Price analyzes a comparable three-unit property that sold for $750,000. Market rent data show each unit should rent for $3,000 per month. Rounded to two decimals, what gross rent multiplier does the sale indicate?
Correct Answer
A) 83.33
Step 1: Gross monthly rent = 3 units × $3,000 = $9,000. Step 2: GRM = Sale Price ÷ Gross Monthly Rent = $750,000 ÷ $9,000 = 83.33. That multiplier shows how many months of gross rent the sale price reflects.
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