Updated almost 7 years ago on . Most recent reply
Time to Sell Condo in Miami?
Hi All, my wife and I are starting to get smart about our money/investments and would appreciate feedback.
We have a 2/2 w/ 1 parking space condo in Miami, close to Coral Gables and are considering selling to do a 1031. It is currently rented for $1700 lease goes until 5/2020 (great tenant, has been there 2.5 years). We own another parking space in the building and rent for $60 a month. (should we sell parking space separate or with unit?)
Principal Balance - $96k (was purchased in 2012 for $152k)
Monthly Payment - $1083 principal/tax, $372 association fee
Currently rented for $1700 monthly
Gross profit of $245 a month
Realtor just sent us a RVM- @237k
realtor.com estimate - 251k
refin estimate - 246k
Thank you