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Updated over 1 year ago,
Single family home in small town
Looking for some advice on how to determine if renting my single family home in a small rural town (about 3000) south of Chicago would be a better investment than selling and putting that money into low cost index funds. I would be moving out of state and need to use a PMC. I am in a desirable area of town and homes sell quickly but do not see any homes listed for rental or know any in my neighborhood. I have owned the home for 5 years (purchased in 2018), have under 3 percent interest rate but also did a 15 year mortgage. So this wouldn’t leave me with a huge profit each month in rent even if I can get 1 percent of the property value in rent monthly. I would be renting in a higher cost of living myself and don’t see myself moving back to his area in the future If I sell. Selling would leave me about 70000 in profit that I could invest on the other hand. I know it’s not a ton of information but any resources on how to make the best decision for my situation is appreciated.