Hello all,
I've recently joined the forum after working through the blog and really admire the mustachian philosophy. As part of my efforts to optimize my life, I'm trying to take a top down approach and first tackle housing. After considering my options, the thing that has most appealed to me is the idea of house hacking. While researching multifamily properties, I was hoping to get some thoughts on whether my current townhouse is worth keeping as a rental or if I should just sell when the opportunity arises. So here goes:
market value: 245K
original purchase price: 235K
original mortgage amount: 223,250
interest rate: 4.25%
mortgage term: 30 yrs
term remaining: 28 yrs
gross rent est: $1800/month
P&I: $1,100/month
taxes: $275/month
insurance: $38/month
HOA: 180/month
notes: roof is about 4 years old, HVAC is 8 years old, water heater is 2 years old
Thanks in advance for any insight!