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Buying & Selling Real Estate

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Ross Melby
  • Real Estate Agent
  • Minneapolis, MN
4
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Should I sell and move on? Help or send SOS :)

Ross Melby
  • Real Estate Agent
  • Minneapolis, MN
Posted Mar 11 2019, 13:37

Ok BP followers, here's my dilemma... 

I own 1 duplex in a prime neighborhood that is appraised around $450,000. I financed well at 3.75 no MI so my payment is $2075 with a balance of $310,000 remaining on the loan. I take in $2,700 in rental income, but after utilities my net cashflow each month is $400. It's a beautiful turn of the century duplex that I renovated when I purchased and lived in one of the units then renovated a single family which I later sold. My main question is do I ride this out for the long haul, or cut bait and move on? The average duplex in my area sells for around $400,000-$500,000. The house is old, the Winters are long, and I'm tired of the leaks and squeaks and though I love the house, all I can see is dollar signs for repairs in the near future because I'm OCD about everything! Anything will help. Here are a few photos of the place if that helps. 

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