Market Value: around 1.1 million
Original Purchase price: 355000
Original Mortgage Amount: 345000
Interest Rate: 3.0
Mortgage Term: 15
Term remaining: 10
Amount remaining on mortgage: 174000
Gross Rents: 3050
Principal and Interest (the P&I of your PITI - should match with the above info): 1995
Taxes and Insurance (the T&I of your PITI): 540/month
HOA costs: n/z
Deferred maintenance notes: 1920's building so there is always something
Anything else special or unique in regards to the numbers of the property (not the property itself; things such as city assessments, back taxes, special costs due to unique features of the property, etc. etc.):
FIRE question- keep or sell? main consideration is depreciation/taxes upon selling... i don't fully understand how it goes down- primary residence (capital gains) within rental property. what and how much will i owe?
i've had this property for nearly 15 years, its been ref'd a number of times and is currently on its last 15 year mortgage. i've been paying an additional 500 principal for about 1.5 years but now questioning this if i were to sell it. depreciate 3 of 4 units, i live in one unit. late 40's single, no dependents (except siblings- unstable low income). central location, blue collar area that is steadily gentrify but has rent control.
originally planned to keep it for early retirement- rent two units and keep one available for a struggling sibling. but after 15 years of being a landlord, i'm dreaming of selling it all to buy a small cheap home (200k) in a cheaper area/state and roll the rest into my investment funds (3 index funds at vanguard) and/or be a international nomadic traveler/teach english in se asia/central america etc with no home base.
thoughts?
thanks!