Should I sell & reposition for better returns

[Peter Morgan]

Hello,

My PITI was $3200 and now suddenly increased to $3700 because of a recent property tax rate increase. Property tax is a whopping $15000 per year now not based on assessments.I make decent rents close to $5000 while living in one of the units in the triplex. The home is worth a million and the principal left to pay is around 510k. Can I do better than this. Would it make sense to sell now and reposition in markets with lower property taxes? Appreciate your inputs on this

[Joe Villeneuve]

Quote from @Peter Morgan:

Hello,

My PITI was $3200 and now suddenly increased to $3700 because of a recent property tax rate increase. Property tax is a whopping $15000 per year now not based on assessments.I make decent rents close to $5000 while living in one of the units in the triplex. The home is worth a million and the principal left to pay is around 510k. Can I do better than this. Would it make sense to sell now and reposition in markets with lower property taxes? Appreciate your inputs on this

I'd have sold it long ago.  After paying off all the closing costs/taxes, you should have at least 300k to work with (should be more).  At 20% DP, that would give you property value of 1.5M...minimum.
Your CF now is around 16k/year.  This means in order for that CF to equal your sale profit, it would take almost 94 years.