Toying with the idea of selling our only rental. We currently have it rented, but the tenant will be changing over in about a month, so perfect timing as far as that goes. House is 725 square feet and was built in 1938.
Market Value: 70-80k
Original Purchase price: 38000
Original Mortgage Amount: 41020
Interest Rate: 3.75%
Mortgage Term: 360mo
Term remaining: 246mo
Amount remaining on mortgage: 32571
Gross Rents: 650/mo
Principal and Interest (the P&I of your PITI - should match with the above info): 190/mo
Taxes and Insurance (the T&I of your PITI): 208/mo
Deferred maintenance notes: DIY'd a new roof last fall, cost ~$3800. Will need all new windows within the next 5-10 years. Haven't done any other maintenance in the 2 years we've rented it out.
We bought this house in 2014 as our first home on a rural development loan (0% down), lived in it for 3 years and turned it into a rental the past 2. When we lived there we also had to sink 5k into a new HVAC system. The house is in Eastern Kansas so it's becoming difficult to manage from 1500 miles away. We don't have the desire to pay a property manager since the cash flow would basically be a wash at that point.