All Forum Posts by: 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