Sell or Refinance a Duplex?

[Michael Sladek]

We purchased a duplex in 2013 for $146,000 and now have mortgage payoff of around $120,000. We rented 1 unit and lived in the other unit until October 2019 when we purchased another property to live. Since then we have rented both units with great tenants who have never missed a payment and currently have positive cash flow of $200 a month. Now with prices in area rising the value of property could possibly sell for around $250,000 or higher. We're debating on selling out right or refinancing to cash out equity.