Sould I sell my duplex?

[Leticia S. Tucker]

New at this game. How do I gauge whether or not I should sell my property? What should I take into consideration?

I have a duplex that I have owned since 2010 and is rarely vacant. At the moment it is under rented. Waiting for COVID to calm down to raise the rent. The property could be upgraded to make it more high-end, but it currently does not need repairs. And it is in a desirable neighborhood. I have an offer that seems fair. I could make enough money to buy a house outright, or reinvest in several properties.

I would appreciate any words of wisdom.

[Alexander Szikla]

So after the mortgage you are cash flowing $500 per month? Or $6,000 per year on $400k of equity. 

Basically a 1.5% return - might make sense to redeploy! 

Also sounds like you have a very high interest rate, maybe a refi could be something to explore as well.

If you do decide to sell, I recommend doing a 1031 Exchange, otherwise you will get taxed heavily.