Is it worth making this property a rental or to just sell?

[Kevin Orellana]

In 2020 I bought my first house 3 bedroom 1 bathroom and a 2 car detached garage for $175,000 and put a 10k downpayment on it and interest rate was 3.5%, in 2023 I decided to rent it out for $1350 mortage was $1106.62, in 2024 we raised the rent to $1450 and our mortage currently is $1144.76- I never put into account repair expenses, Capex, vacency until I read on rental investment properies book. But we have been lucky enough to not receive any issues with this house as when we bought it was fully remodeled literally everything was new. Is it worth keeping the house and increasing the rent to $1750 or should I sell in the market that we are in?

[Madri Koppe]

This depends on your overall goals. If it’s worked out well so far being a landlord and you see opportunities to raise rents then holding on to the property might make sense. If your intent/interest is not in buy and hold and you find a better use for the funds by selling then explore that option.