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Updated over 3 years ago,
Should I sell my Condo?
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