Rent or Fire Sell?

Hey All,

I have a Rowhome in Philadelphia that I’ve rented out before (owned since 2003). After my last tenants moved out, I renovated the place with about $10k in upgrades, with intentions to sell the property. We’ve been on the market for about 2.5 months, and there has been a lot more inventory to come onto the market; and frankly little activity (even after lowering prices)…

My mortgage is $1,200 /month, and the expected rent would be maybe net +/- $200 per month.

On the other hand, I could sacrifice $20K in equity and price it lower than the market to see if it sells.

I would really appreciate your honest opinion on what should be done. :help


Unless someone is intimately familiar with the sales data for the area, I’d think your opinion is probably the one that matters most.

I’m in Philadelphia, what section of the city is your property in?

In Manayunk, less than a block from the Wickihission (sp?) train station, close to main street … :biggrin