Is now the time to sell?

[Elijah VanDenBerg]

Trying to decide if now is the time to sell?

I currently own a single family house in Rochester, NH that is coming up on the end of its 12 month lease (end of November). I thought I was going to hold it for quite some time, but I am debating selling to take advantage of this market and the fact if I lease it out for 1 more year I will have to pay capital gains (I lived in it 2017-2019). I purchased at $290k and worth approx. $450-450k. It earns approx. $7000 in cash flow/yr. Built in 2006 and very low maintenance/Mgt requirements. If I sold I would use funds to (hopefully) purchase 6-10 unit in the $800k-1M price range. Big question is if appreciation will outweigh capital gains. Will appreciation continue in my market with lumber prices down and potential increased new construction? Thoughts? 

Appreciate any insight! 

[Brian G.]

@Elijah VanDenBerg I would sell, enjoy the section 121 exclusion on the gains and redeploy the capital in whatever way lines up best with your goals.