Should I sell or rent my house? Thanks!
Ok so here are numbers. Feel like I should sell but want to make it work. My argument would be with a smaller loan balance I might lose a couple hundred a month for a few years until mortgage is paid off. Once the house is fully paid cash flow would be great! Let me know your thoughts. Thanks!
3 bed/2.5 bath 1900 sq ft home in desirable Richmond va neighborhood
$525000- current value
$362000- purchase price in 2009
$70k- left on 15 yr mortgage at 3.25%
$2400- monthly mortgage including tax and insurance
$2700- estimated rent
8%- estimated mgt fee
Probabaly will need new ac unit in next year or two. Estimated about $8-10k. No other big cap x items in near future.