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You own a house that you rent for $1,350 per month. The maintenance expenses on the house average $250 per month. The house cost $229,000
You own a house that you rent for $1,350 per month. The maintenance expenses on the house average $250 per month. The house cost $229,000 when you purchased it 4 years ago. A recent appraisal on the house valued it at $251,000. If you sell the house you will incur $20,080 in real estate fees. The annual property taxes are $3,000. You are deciding whether to sell the house or convert it for your own use as a professional office. What value should you place on this house when analyzing the option of using it as a professional office
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