Okay, here are the numbers:
Market Value: Hard to assess, but I think based upon comps and local price-per-square foot averages, 450,000
Original Purchase price: $260,000
Original Mortgage Amount: 234,000
Interest Rate: 3.25%
Mortgage Term: 15 years
Term remaining: 12 years
Amount remaining on mortgage: 206,000
Gross Rents: *
Here's the tricky part. I am overseas. My gross rents were $41,149 last year but I have a full service management contract and all rental expenses are deducted so I only get the amount that comes after all expenses. last year that was 19,447. My house is across the street from a medical school so I rent out short term to doctors in residency. I have cleaning services, trash collection, everything taken care of for these tenants. (Who are ideal tenants, they work all the time, don't party, are spotless. But because they are short term I pay VERY high insurance, reflected in my escrow accounts, because I am considered to run "a boarding house" and insurance is very high for this.)
Here's my mortgage:
Payment: $2,773.96
Principal and Interest: $1,644.25
City Tax: $536.30
Hazard Escrow: $417.95
I earn 180,000 a year (gross) and pay US federal and state taxes. One more factor impacting the potential to sell: there's a massive road rehabilitation project in front of my house right now (it's resurfacing, planting trees, beautifying, etc. I believe the project will raise the price of the property significantly but it won't end until November of this year.
Is this a good investment or not?