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Updated 10 months ago, 03/09/2024
Math on a holding vs selling
We have a rental property that is now vacant in a C-class area.
Monthly mortgage amount is $780/month (PITI).
Market rent is $1,300/month.
Loan amount left is $132,000.
If we list it, we can sell at $205k and assuming 8% closing / realtor / concession fees, the revenue would be $188k.
So, after paying off the mortgage, would net $58k (and wouldn't pay capital gains taxes as I have so many losses from previous years).
Would you sell it or keep holding it?