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Updated over 3 years ago,
Should I keep this rental or re-invest in quadplex.
Wondering if there were any mentors who could examine my numbers on a rental house that I own.
I own it outright. Zero liens.
Rent: $1553 per month autodeposited
Taxes: $8200 per year
Management: 10%
Expenses: $3600 (water bill, repairs)
Insurance: $50 per month
We've had a major "repair" event each year so that's why the expenses are super high. This year was a water leak in the basement.
The cashflow is not that high and the area doesn't appreciate appreciation. I could sell it for $220,000 right now which is the same 5 years ago.
Would you take that cash to a better cashflowing property?