The effective gross income multiplier in this scenario is 10, indicating that the value of the property is 10 times its expected income.
The effective gross income multiplier (EGIM) is a measure of the value of a property based on its expected income. It is calculated by dividing the derived valuation of the property by the effective gross income (EGI) of the property.
In the given scenario, the EGI of the property is $100,000 and the derived valuation of the property is $1,000,000. To calculate the EGIM, you would divide the derived valuation ($1,000,000) by the EGI ($100,000), resulting in an EGIM of 10.
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