Rent out Apartment in Scott Circle?

[Adam Reynolds]

Hello!

My wife and I are debating on whether we should look to sell our 500 square foot condo in Scott Circle. We would do so sometime Summer next year. We bought the property for $230k approximately 2 years ago. The way it's looking now, we will probably come out even selling when factoring in real estate fees.

With our mortgage and HOA fees, the property costs approximately $2100 to maintain. We would not be close to DC after moving, so would likely need to also pay for a property manager. Rent in the building seems to be about $2000-2200, so we would likely have a slight negative cash flow. However, the market appears to be on the rise in the coming years.

Could someone with experience in the area tell me what they think? Is it a good idea to sell the property and invest in other things, or hold on for the market to rise?

Thanks!

-Adam

[Russell Brazil]

How much would you walk away with if you sell? How much do you have into it? I generally dont like negative cash flow, but if thats being caused by a very low down payment initially thats to be expected, and thats what I suspect since my properties at almost twice that price have similar closing costs but with 20/25% down.

[Shadonna N.]

What is your interest rate?