What is the formula to calculate the value of a property using the gross income multiplier?

The formula to calculate the value of a property using the gross income multiplier (GIM) is indeed found by multiplying the gross income multiplier by the annual rent produced by the property. This method is primarily used in real estate to give an estimate of the property's value based on its income-generating potential.

The gross income multiplier represents how much investors are willing to pay for each dollar of income generated by the property. By applying this multiplier to the annual rent, you can derive the estimated market value of the property. This method is particularly useful in investment scenarios where cash flow and income potential are significant factors in determining property worth.

In contrast, the other options either misrepresent the relationship between income and value or reference unrelated concepts such as property assessment rates, making them unsuitable in calculating property value through the gross income multiplier method.