Would appreciate any input on my situation. Wife and I getting ready to move sometime this Spring and I'm trying to decide should we sell the current condo or rent it out.
Market Value: $390,000
Original Purchase price: $341,000
Original Mortgage Amount: 272,800
Interest Rate: 4%
Mortgage Term: 30 year fixed
Term remaining: 24 years
Amount remaining on mortgage: $250,526
Gross Rents: $2000
Principal and Interest (the P&I of your PITI - should match with the above info): $1,230
Taxes and Insurance (the T&I of your PITI): $238
HOA costs: $475
Opportunity Cost: If we sell, the money would all go into a taxable VTSAX.
Transaction Cost on Home Sale: 5%
Deferred maintenance notes: We just paid a $8,500 special assessment last month. We anticipate another similar assessment sometime in the next 2-3 years.
Let me know if you need any more information. Thanks for the input!!!