Keep or Sell my Duplex?

[Don Wyllie]

Hi Everyone, this is my first post here so please bear with me. I'm always in awe of the level of detail and information that BP contains, so I hope you guys can help with figuring out the numbers.

I am trying to figure out whether to sell my rental property or to keep it. This is a property that I have been paying down since 2007, I originally purchased it to live in one half and rent out the other, but then I ended up moving away and now it's just a rental. Thinking about selling to cash out, but am also concerned that it may be worth just keeping. The main motivator to sell is that I don't want to have to be "on call" all the time. If I were to keep the property, I would hire property management for between 7 and 10% fee. Here are the details:

Current market value is approximately $165K.

Outstanding loan amount $118K.

$1600/mo rent total.

~5% vacancy rate.

Mortgage/taxes/insurance cost $1250/mo.

Tenants pay electric, heat, and water.

New roof 2016, but the propterty will need maybe $5K of work in the next 5 years.

Duplex is in an "A" neighborhood, but appreciation has still been slow.

Currently, the loan is being paid off about $5K per year.

Please, any advice or analysis would be greatly appreciated!

[Heather Frusco]

@Don Wyllie it looks like you might have overpaid and your cashflow is a bit too tight, no worries just reset and sell it if you can't raise the rents.