House Hack-When to move to SFR

[Eric Waldron]

I currently own a 2 unit multifamily as a house hack. Our mortgage is $1550 per month and we bring in $2050 for the other unit plus and extra $350 a month for rented garage space. My wife and I want to move to a SFR and my question is when should I do it? Houses in NJ are quite expensive however there's a 4BR/1BA up the street from our house selling for 285K. With 15% down our mortgage would be $2300 a month and we'd still cash flow from our rentals down the street as our current unit would probably rent for $2000 a month and I could probably get another $150 a month for the other garage bay. So my options are to keep our cash flow as it is currently which is about $850 a month or move up the street and make around $700 a month but now my units are all being fully paid for by tenants.