Condo in downtown Bellevue. Keep it or sell it
I am considering moving out of my condo and move to a larger place. I can get a new mortgage for a larger place without having to sell my current condo.
However, I don't know what to do with it. I have a 3 br condo in downtown Bellevue. 1000+ sq feet. Worth about 800k. Older building build around 2000-2005.
I think it could be rented for about 3000. Hoa is 600, mortgage 2400
At that price I can almost break even. (Loss may be between 20 and 250 dollars a month). I am considering holding because of all the Amazon people moving to Bellevue maybe it will go up in value. However with so many new condos coming up it may be hard to compete too.
Another option is sell it. After all the fees I would probably end up with a bit over 300k. I could either use that money to buy in full another property with no HOA and rent it or just invest it in something else (stocks, bonds, index fund, etc.)
Thoughts? Advice? We have lived in the condo for more than 2 years.