Las Cruces Research Question
Good Day to Everyone!
I live in Las Cruces and I'm going to probably move (military) away in the next year or two. I am researching on what to do with my 3bed/2bath 2100sq ft. single family home.
Home info:
2006 build
Loan at 200k
Sell probability of 250k
Mortgage of 800 pushing 1100 with taxes and insurance
I don't know the probability of the area's rental capabilities or if selling is better. I would like to know if anyone has experience in the Las Cruces suburbs in this price range and how it's worked out. Even getting websites to know that track that kind of data would be helpful. I've looked at Zillow for rents but I don't want to just base my plans off one site so any extra information will help me make the best financial decision.
@Tyler Jorgensen I would do some research and figure out the best property manager in Las Cruces, and ask them what the home would rent for.
Are you considering selling? I think your profit would be pretty small if you did, after paying closing costs and agent commissions. Hopefully, the home can rent for enough to cover your 1100 PITI plus a bit more to cover your property management fee and some repairs here and there.
Good luck and let us know what you decide!
#2 Managing Your Property Contributor
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- Royal Oak, MI
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#2 Managing Your Property Contributor
- Property Manager
- Royal Oak, MI
@Tyler Jorgensen yes, you should talk to an agent about what you would actually net on a sale and a property management company about what your property would rent for.
Also, research how much your property taxes and insurance would change if you rented it out.
Then use the BP calculators to help with your decision.
