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Updated almost 6 years ago,
Should I sell or hold this investment property
I have this investment property in DFW, TX I bought in 2016 for $195K. It's in a city right next to a very good booming area with very good school district. This house has been paid off and has no mortgage. Rental income is $1680 in the past 2.5 years. Property tax+HOA+ insurance is around $6300. There is a high demand in this community for rental. There is quite a bit of appreciation and the property is now worth around $240K. But this property is in a mud district that we were not told when we bought it. We feel like the tax is quite high + there is a sign of declining tenant quality. There is a lot of rental in the same community and some of the tenant is under government subsidy. At the same time, there is a lot of big companies moving to the area. There is a lot of job opportunity and demand for rental. A lot of apartment is building right now. Should we sell the property OR should we keep it??