Should I sell for my appreciation in Lakewood, Ohio?

[Vincent Donato]

I bought a rental duplex in Lakewood, Ohio for 250k back in 2021 when I was living in Cleveland. I now live back in New York so I'm using a property manager to handle the rental. Since then it seems like my property has appreciated almost 100k. This is my only rental property.

I'm contemplating selling the property and taking my profit for a few reasons, but one most of all.

I would say my property is in average, a bit above average condition, but certain things are a bit dry or dated, no central A/C for example. For the moment, it's good enough that the home value and rent value continue to increase with everything else in Lakewood, but is this the peak? I'm sure values overall will continue to rise, but for a 102 year old house will mine start to plateau? The newer more renovated houses will continue to rise but I feel at some point mine will appear as an old dated house that somebody looks at and will want as a cheaper place to fix up and renovate.

Other than this, I don't really enjoy the out-of-state investor aspect of relying on a property manager when this was always a hands on investment for me until I moved away. I could use this capital on a new investment that I could be more hands on with, and it nerves me to think about major renovations or fixes through a property manager that are bound to be needed on a house of this age.

I'm just wondering if I'm overthinking it and silly to sell out on a cash-flowing property in a growing neighborhood at a 3% interest rate.

Thanks for your thoughts and inputs.