Moving out if Atlanta (Alpharetta). sell or rent?

New —/
Jan 9 47 Comments

I am moving out of Atlanta to Seattle. I don’t intend to come back. I have a townhouse worth $240k. Rent would be $1500??. Market estimate is $1750 rent.
Should I sell or keep?

100k in mortgage (3.25%).

This is very similar house in the neighborhood. https://www.zillow.com/homedetails/13300-Morris-Rd-UNIT-132-Alpharetta-GA-30004/2083802213_zpid/

Don't want to share my exact house.

#atlanta #alpharetta

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TOP 47 Comments
  • Microsoft 10c5292v
    that's only a 4% cap rate. I'd probably sell
    Jan 9 18
    • Thermo Fisher VYrB60
      Would you two children go take naps?
      Jan 11
    • Microsoft 10c5292v
      Gotta have my baba first
      Jan 11
  • Google KytN86
    The caprate is low. Do you have a mortgage on it?
    Jan 9 3
    • Google KytN86
      Keep the house imo if the house is in good shape and doesn't need too much maintenance soon. You'll be cash flow positive I believe. Keep the house for the long term. If you are out of town hire a good property manager.
      Jan 9
    • New —/
      OP
      Thank you
      Jan 10
  • Tesla / Supply/Log unSY55
    Keep. I'm doing the same thing. It's a good source of income.
    Jan 9 0
  • Nokia / Eng scre
    I would keep it. You will have almost $400-500 cash flow each month after all the expenses plus if you needed money for buying other house in Seattle,you can leverage this house to get more money out of it . I don't see you should have any issue getting at least $100k out of this house as HELOC or refinance it.
    Jan 10 3
    • Nokia / Eng scre
      Think it this way...two kinds of people invest in RE..one is based on Only capital appreciation second one is cash flow based. I think your area is based on 2nd kind of category. Unless it's crash, price won't go down significant. Growth could be stagnant. Think it this way,your car monthly payment is paid by your house each month.
      Jan 10
    • Microsoft 10c5292v
      Alpharetta definitely isn't a cash flow market.
      Jan 10
  • Workday ihh466h
    Rent it out . Alpharetta has very good schools . There won’t be steep drop in prices if recession hit atleast not like 2008 levels . Lot of ppl are actually are actually moving into Atlanta Area due to its low cost of living and relatively high salaries and Alpharetta johns creek and East Cobb are only areas that have very good schools . Is your house in Alpharetta high , Milton high or chattahoochee ?
    Jan 9 3
  • Microsoft Blind_A
    Keep it. That area is growing. Sell only if you are planing to buy new home.
    Jan 9 1
    • New —/
      OP
      Thank you
      Jan 10
  • LinkedIn U💰S💰D
    Find a property management company.

    Also why do you think rent would be 1300 where comparable rents for $1750
    Jan 9 1
    • New —/
      OP
      I need to do my math. I roughly removed tax, insurance and other costs. But I am way off. Updated post with market value now.
      Jan 9
  • Amazon Aaaarrgghh
    Sell and cash out..you are at peak of house prices and if recession hits, the prices will likely tank in Atlanta..you are better off owning a property in hotter real estate market like Seattle rather than Atlanta, where prices will tank more steeply than Seattle. Even better sell at peak in Atlanta and buy in Seattle when recession hits.
    Jan 9 1
    • Thermo Fisher VYrB60
      Yes if you are willing to leverage. It ain't cheap here in the Emerald City!
      Jan 9
  • Thermo Fisher VYrB60
    You have a mortgage? What's the rate on it? Property management takes say, 10%. That leaves you at $1170 a month, and doesn't consider occupancy rate. Does that cover mortgage, taxes, HOA, and maintenance? What opportunity cost do you incur by not cashing out and doing something else with the proceeds?
    Jan 9 1
  • Twilio p@$$w0rd.
    What company in Atlanta do you work for?
    Jan 9 1
    • New —/
      OP
      No name company. They are not recruiting anyone even when people leave.
      Jan 9

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