Thanks in advance for any advice on this big decision that has been weighing me down lately.
I have recently moved out of my house and into a rental house with a housemate. I lived in and loved my house for 10 years, but I grew to hate the busier and busier street that my house was located on. It is a 4 bed / 2 bath house in SE Portland.
Market Value: (Zestimate says $459K)
Original Purchase price:240K + 60K in major renovations
Original Mortgage Amount: 200K
Interest Rate: 3.25%
Mortgage Term: 15 yr
Term remaining: ~11 yr
Amount remaining on mortgage: 99K
Gross Rents: It looks like it could rent for about $2,400 / mo)
Principal and Interest: $1,033 / mo
Taxes and Insurance: $3,900 / yr
Deferred maintenance notes: No maintenance needed.
It would be a good rental, but I am adverse to dealing with landlord issues. I could of course get a management company to take care of all that for me.
What do you kind folks think I should do? Sell or rent? I do not have any great financial need to sell it, but I also kind of 'just want to be done' with it and not have the stress of owning rental property. I did rent it out once for a year and half to a nice family with good credit and income, but it ended in disaster when they stopped paying rent for 2 months due to job loss. It caused me major stress and heartache as I did not want to evict this family in hard times.
Appreciate the advice!