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Updated over 3 years ago,

User Stats

10
Posts
7
Votes
Sam Reddy
  • Dublin, CA
7
Votes |
10
Posts

Should I sell my Condo?

Sam Reddy
  • Dublin, CA
Posted

Hello Biggerpockets,

I need a bit of advice. I own a condo (in Dublin, CA) that I am currently renting out. The rental I get is $2800. The costs are $2750 broken down as follows

  • Principal and Interest = $1850 [30 year fixed at 3.5%]
  • Taxes = $600
  • HOA = $300

Renting the condo shouldn't be a problem as it is in a good school district and desirable area. Mortgage left on the condo is $375K (25 years left on the mortgage), similar condos in the community are selling for $750K. If I sell I will net around $300K after all fees (it was a primary home until recently so we will not need to pay taxes per the 2-out-5 rule].  

Would you advice I keep renting the condo as it breaks even with rent, or sell? 

Thanks for your time and advice

-Sam

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