Question About When to Sell My First Property in DC

[Steven Moore]

I bought a unique 90 year old property in the East Capitol Hill/H Street area in Washington DC in 2013 for $710,000 for my primary residence. It has a basement that can be rented out, so that income was perfect for subsidizing my mortgage. 

I moved out of DC in May of last year, and began renting out the upper part of the house as well. The house has appreciated close to 20% since I bought it in June 2013. The rent I receive monthly covers the mortgage with several hundred dollars to spare, but with property management fees and maintenance I am incurring a loss - about $5k from May 2015 to May 2016. 

Do I hang on to it in hopes of further appreciation? Or do I sell it and put the money in a cash flow positive property? 

[Chris Eaker]

@Steven Moore

You're losing money on it today. You have no idea how long it will take for rents to go up. They have to go up over $400/month just to break even. That's still technically a loss. I'd get out of it and put your money to better use on something that pays you, not the other way around.