Should I sell?

[Elisa Zhang]

I have an investment condo that I am thinking about selling. Here are the numbers. I am only hesitating because the great mortgage rate and term I get.

Rent: $1850/month

Cost: 0% vacancy for past 5 years

5% cap exp (appliances only as others are covered by HOA)

HOA $360 Going up 10%/year

Mortgage 15 year for 3.25% Monthly payment with P&I $1700

Worth: $330000 Bought it for $225000 Owe $140000

Downside: It has been negative cash flow due to the 15 year mortgage on this. I could be missing out opportunity to find better place with better returns on cash flow, but maybe not as great appreciation. I don't really like HOA.

Upside: This is in high demand area with no issue renting at high price. My goal is retire in 10-12 years, in which case this place will be paid off and I would profit about $1400 dollars even with the HOA. Great appreciation likely.

Should I sell it?

Thanks a bunch.

Elisa