To arrive at an estimate for John's single family home, a gross rent multiplier was used. The comparable properties rent out for approximately $1,800 per month and recent comparable selling prices are for $450,000. The property is currently renting for $1,900 per month. What would the real estate agent estimate the value of the property to be?
a. $1,900
b. $470,000
c. $475,000
d. $450,000