My first single family home rental
I wanted to post the numbers to see what you pros think. Rent or sell?
Rent Insurance approx annually $1350 monthly $113 Property Taxes annually
$4850 monthly $405 Mortgage monthly $915 Total $1433 $153 Property management fees rent at $1700 a month 9% + 50% first month.
Total with management fees $1586 Positive $114 I would put in the bank to use for for repairs cap ex. and vacancy.
This is the house when I bough it. I have lived in the the past 2 years. I have an interest rate of 3.5% and owe $180k. I have done a few upgrades living here... Light fixtures, the kitchen, fresh paint, new fence and garden and shutters in the front.
If I went to sell it I think I could get $240k realistically. I would have approx $40-45k. https://www.zillow.com/homedetails/3900-Oceanview-...