5 year update analysis and results

[Travis M.]

Hello all,  

First of all thanks for all your input.  5 years ago I asked this forum for input (here).  Being a landlord has been fairly successful.  The property has been rented the whole time except for 2 weeks when we needed to fix up the floors and do some minor renovations. (0.8% vacancy).  We've been lucky.  

I wanted to share our numbers to get some additional input/advice.

Today the property is now worth at $750k.  Our rent is $4k/mo.  We still owe $320k at 3.25%.

Total expenses, including debt service and 4% vacancy, is $2700 for a cash flow of $1300/mo.

Naturally, the investment has been very good for us both financially and for experience. But I do wonder if our rate of return could be improved. Cash ROI based on current value is only 4.5% (Total ROI 6.5%).  Actual ROI is much better.  I'm incline to keep this thing and let it ride, but wanted to know what some of you would do in our situation.  If a property appreciates to a certain point it probably makes sense to sell, but I'm struggling to understand what that number is for us.  Opinions/input is welcome.

Thanks in advance!

Travis