Looking for outside perspective on a decision I've been going back and forth on.

    Quick background:

    • Built this house myself, originally planned to live in it, but outgrew it after having a kid. It's basically a high-spec new build at this point.
    • Coastal CA 2/1 bungalow, conservatively worth $800K.
    • $175K left on the mortgage, locked at 3.7% fixed, 20 years remaining.
    • Renting it furnished to travel nurses for the past 2 years. Current tenants (great ones) move out in December.
    • Nets about $1,500/month in cash flow after everything.

    I've landlorded before with a different property and had a genuinely nightmare tenant, so I'm a little gun-shy about doing this long-term, even though this specific rental has gone smoothly. I'm also emotionally attached since I built the place myself and it's a few doors down from where we live now.

    A few things I'm weighing:

    • Whether the 3.7% rate alone is reason enough to hold, even with modest cash flow
    • How people who've dealt with a bad tenant in the past approach screening differently the second time around, versus just deciding to sell and be done with landlording entirely

    Not attached to a particular answer, just want a range of views before we decide whether to relist it or sell in December. Appreciate any input.

    Sitting on $625K equity at a 3.7% rate — keep as a rental or sell?
    byu/bwehman inRealEstate



    Posted by bwehman

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