Skip to content
×
Try PRO Free Today!
BiggerPockets Pro offers you a comprehensive suite of tools and resources
Market and Deal Finder Tools
Deal Analysis Calculators
Property Management Software
Exclusive discounts to Home Depot, RentRedi, and more
$0
7 days free
$828/yr or $69/mo when billed monthly.
$390/yr or $32.5/mo when billed annually.
7 days free. Cancel anytime.
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Real Estate Deal Analysis & Advice
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated over 6 years ago on . Most recent reply

User Stats

1
Posts
0
Votes
Early Keegs
0
Votes |
1
Posts

Sell or Rent?! Help me analyze

Early Keegs
Posted

Hello everyone, I would like to get a few opinions on whether I should sell or rent a house I currently own. It is a single family (3 bed, 2 bath) built in 2013, in a great neighborhood close to a military installation.

I owe $139,000 and the house appraises for $169,000. I could sell tomorrow and get approximately $14,500 after closing cost and brokerage fees. Initial purchase price was $149,000. It was a 0% down VA loan, lived there for 4 years and rented it last year (the current tenant is moving out).

or

I could rent it all day, any day for $1350. The mortgage is $950 (25 years remaining @ 4.25%), HOA is $35, lawn care is $30. No management fees, I am local and have already rented it for 1 year. Occupancy is not an issue, it rented the first day on the market (had to take down the ad after just a few hours due to overwhelming responses). The current tenant is moving out so I am at a crossroads. Total expenses averaged $1055/mo last year (including repairs and maintenance).

I not not sure how to analyze this rental unit. Do I calculate it at current market value and say the $14,500 profit from the sale would be the cash down? Or should it be calculated at the original loan terms?

Loading replies...