My husband and I own a duplex in LoHi in Denver. Currently we rent one side and live in the other. Because of the crazy market in Denver and the desirability of our area, we have been approached by developers interested in our lot and by prospective buyers interested in income property. We are unsure if now is the time to sell or hold.
Stats:
Collective purchase price: $657,500k
Estimated worth: $800k+
Collective monthly mortgage/taxes/insurance payments: ~$3k
Rental income: $2450/month
We are happy living in the house especially considering we are only paying ~$700/month to live in LoHi in Denver. With the proximity to downtown we can walk to work in 10 minutes, hit any of the best bars and restaurants in town in a few blocks, and we have great neighbors living in million dollar homes on our street.
With real estate prices in Denver, we are unsure if it would make sense to "make hay while the sun shines" and get out of these properties or if we should hold onto them long term.
Please help!
Anna
