Interest rate is at 4.75% and the mortgage payment is slightly less than the market rent in that area.

The 2021 cap rate at that price was 3.5% though I expect lower now with issues and current expenses.

On the other hand, refinancing would provide a fixed rate mortgage that is lower in interest and has less concerns for paying back in the short term as long as the property still cash flows.

Switch your interest rate to 8% and run both your current 5 years and after your 5 year balloon period. 

Our primary unit is still operating about 95% occupied and rates have never declined for us.

Fixed rate debt in an inflationary environment is a wonderful thing. 

I know that it is the flavor of the month, but remember just because you get a subject to deal or low interest rate does not mean that it is a good deal.

You can do a HELOC or a closed end second, but the rates on both will be higher than a refi.

Interest rate: 2.875%.

This may or may not be the case for all people investing in duplex house hacks with today’s interest rates.