Hi All
I just want to have feedback from all of you with different perspectives.
Our tenant plan to move out for buying home in Almaden Valley.
SFH
Zip code 95123, Lennar community, has a fancy club house
2165SQ, 4 bed and 2.5 baths with 2 car attached garage.
HOA ~$260ish
Renting income previously as $4,550 (+$50 for a pet)
Mortgage $4,055.99
Loan Residensial loan $940.734.21 7YR ARM 2.875% until 10/01/2026
Barely make positive $234ish without vacancy and property tax.
Property tax $14,153.58
Estimate property value 1,408,100~1,455,466
Purchasing price 889,300
We lived in this home for 5 years and move out new home and rent it for almost one year. So 500K tax exemption window is closing, left 2 years from now.
In 2019 I did cash out refinance 7yr ARM, around 300K to buy current home.
Should I sell it and take the benefit of a 500k tax exemption or keep it refinance as an investement property?
Thank you in advance.
Jason