Should I keep or sell my duplex?

[Mark Vesu]

I would like to get your expert opinion as to whether I should keep or sell my duplex

The sale price, if I sell = $1.75m

Mortgage = $200k

Years left on mortgage = 7 years

Mortgage Interest: 7.25% (resets every year)

Rent - Expenses and Deductions = $20K/yr

Additional info: I am very close to retirement and the thinking process is to sell and payoff the mortgage on the primary residence.

Appreciate your feedback.

Thanks.

[Jules Aton]

Agree the interest rate is high. If you decide to keep the property I would pay that off. As I near retirement I'm also scaling back on the hassles of RE. What does your financial plan say about asset allocation? That will guide you when deciding what to do with the funds if you sell the duplex. I'm carrying a low interest mortgage into retirement and will keep a fairly high percent, for someone my age, in total stock market index funds in an effort to have true passive income and likely a reasonable return that ideally will offset inflation.