Rent out or sell NYC apartment?
Bought a 1 bed condo in Chelsea, NYC for about ~760k in 2021 with a 3.125% mortgage and 10% down. We've been living in it for the past 3 years. My partner and I are moving SF some time in the next year and trying to think through whether or not we should rent out or sell our apartment. We have a lot of friends in NYC so potentially could find a friend who would likely care for the apartment better than a normal tenant.
Market rent: ~4.5k/mo
Market price: ~900k
All in expenses: 500(HOA) + 4100 (Mortgage/Taxes/PMI/Insurance) = 4.6k/mo. PMI is about $100/mo so we would be about breakeven when we have paid down more of the loan.
We're moving for my job. We're thinking about settling down in California and having kids in the next 3-4 years or so (although having never lived in SF!). I love NYC so I would personally love to come back, but not counting on it especially since we don't envision raising kids in a 1 bedroom apartment.