Very affordable housing. 

Sullivan shares data on America’s Affordable Housing Crisis.

I knew that the property would be easy to sell to another investor or owner occupant, as it was affordable and a 3BR/2BA of 1,650SF so it checks the boxes for many prospective buyers.

it was what I could afford at the time.

We can afford this, but getting a new loan at ~6.5%+ wouldn't be doable.

People who can afford a property like that will buy a home themselves instead of renting(majority of the time).

There is demand for it and demand in this area for affordable housing, in a tourist area where plenty of people have vacant, second/third homes for seasonal fishing and hunting.

Note: I say this also assuming you can afford the negative cash flow, but if you cannot, then get out as soon as you can. 

The biggest challenge continues to be affordability, as mortgage rates remain high and inventory remains tight in many regions.The 10-year Treasury yield has risen to 4.64%, which has kept mortgage rates elevated, currently hovering in the 6.5% to 7% range.

Higher mortgage rates in January 2025 compared to January 2024 may impact buyer demand and affordability.❓ Question: How do you think the current mortgage rates and market trends will influence buyer behavior in the coming months?