Time to Sell Condo in Miami?

Question

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 feeCurrently 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

Malgorzata Sadowska · Answer

as a realtor, I can tell you that even any human being, especially if they understand where the market is / is heading (and with what velocity) + when they can interpret the comps, will price property MUCH more accurately than any of the algorithms on the consumer web sites, such as zillow, redfin, etc. The valuation tech isn't there yet. I know that's not your question, yet, wanted to come from contribution and suggest that the price you are hearing from the realtor is the more accurate price that you are more likely to get upon sale. Best of luck with the decision & warmest regards, Maggie