Wetumpka Property - Keep or Sale

3 Replies

I currently own a property in Wetumpka, AL. Should I re-finance and keep, or sale, to get a better property.

Original mortgage $142k @ 4.75%

Current value $145k-$155k

------CURRENT------

Current mortgage $129k : $930 / month

Current rental $1.2k / month - 10% management fee = $1080 / month ($150 cash flow)

------RE-FINIANCE------

Re-finance mortgage $130k : $790 / month @ 3.875%

Current rental $1.2k / month - 10% management fee = $1080 / month ($290 cash flow)

Insurance? Utilities included? 

That includes all insurance, and no utilities include.

Does that include property taxes? replacement reserves? 

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