Condo - Sell or Hold

[Ben Stafford]

I ended up having to relocate for about a year (within my city) and I picked up a 1 bed/1 bath condo for 210k. Most all utilities are covered by the HOA.

I put 22% down, as a primary residence.

In the coming months, I'll be moving out. The condos haven't appreciated much at all, and a tenant will be a break even on the monthly PITI, HOA dues, upkeep, etc.

My rate is at 4.5%

I don’t see a way to cash flow much more that $100-$200 or so a month right now. Should I hold, or sell and find another opportunity??

[Tanner Pile]

@Ben Stafford    Cash flowing a few hundred a month after all reserves and expenses is pretty good in Colorado Springs. I would possibly look to keep it and plan to sell when you could make a larger return. Do you know what you could sell it for now? 

There could be an opportunity this summer with more buying activity that would be a good option to sell. A 1/1 condo will be a bit tricky to get a lot of buyer competition with a small amount of buyers looking for that. What part of town is it in?