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References in periodicals archive ?
A monthly gross rent multiplier is an economic unit of comparison, which is applied as the income capitalization approach when appraising two- to four-unit residential properties.
where [GRM.sub.p], and [GRM.sub.adu] are gross rent multipliers for the primary and accessory units, and [I.sub.p] and [I.sub.adu] are their market rents.
Several methods can be used, including gross rent multiplier analysis, paired sales analysis, and surveys.
and (3) Is the gross rent multiplier method more applicable than the cost approach?
Gross Monthly Rent $ $ Gross Rent Multiplier Price Per Unit $ $ Price Per Room $ $ Price Per Bedroom $ $ Rent Control [] Yes [] No [] Yes [] No Data Source(s) Verification Source(s) VALUE ADJUSTMENTS DESCRIPTION DESCRIPTION +(-) Adjustment Sale or Financing Concessions Date of Sale/Time Location Leasehold/Fee Simple Site View Design (Style) Quality of Construction Actual Age Condition Gross Building Area Unit Breakdown Total Bedrooms Baths Total Bdrms Baths Unit # 1 Unit # 2 Unit # 3 Figure 3 Suggested Order and Reversed Order of Adjustments Based on Percentages Suggested Order Subject Adj.
The adjusted GRM is shown in the following: TABLE 2 Billboard Structure Purchase and Rent Purchase price $48,000 Annual gross income (divided by) $12,000 Gross rent multiplier 4 Annual Monthly Gross rental income $12,000 $1,000 Gross rent multiplier 4 48 Indicated value $48,000 $48,000 Purchase price $48,000 Effective gross income (divided by) $10,200 Gross rent multiplier 4.71
The loss can also be measured by applying the sales comparison approach matched-pair technique, a gross income multiplier, or a gross rent multiplier for a residential property.
The sale price equates to a gross rent multiplier (GRM) of 29, $691 per square foot, and a 2.4% capitalization rate.
At the time, that transaction set Prospect Lefferts Gardens records for gross rent multiplier, price per unit and price per square foot.
The property traded at a 6.75 gross rent multiplier (GRM) and $73,800 price per unit.
The sale price equates to a gross rent multiplier (GRM) of 15.7, $662 psf and a 4.5% capitalization rate.