Ask Question
15 September, 22:16

Using the 1% rule-of-thumb, a rental property that gererates $1,000 per month in gross rents could potentially be a very good deal if it were listed for a sale price of A. $150,000 B. $185,000 C. $120,000 D. $75,000

+1
Answers (1)
  1. 16 September, 02:09
    0
    Answer: $75,000

    Explanation:

    The 1% rule of thumb in real estate is used to evaluate the price of properties. It states that the monthly rent must be 1% or more of the purchase price of the property.

    The higher the percentage of the rent over 1% the better.

    In the above the best answer would be $75,000 because;

    = 1,000/75,000 * 100

    = 1.33%

    The $1,000 is above 1% of $75,000 and so would be a very good deal.
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “Using the 1% rule-of-thumb, a rental property that gererates $1,000 per month in gross rents could potentially be a very good deal if it ...” in 📙 Business if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers