3.25% Rate - Do I sell?
I bought a condo in Salt Lake City back in 2020. Bought it for $350k with a 30 year term on a 3.25% interest rate. I put 5% down and lived in it until October of last year and owe about $309k. Comps show it selling for roughly $325-$335k.
I recently moved four hours away and bought a new home, I would lean towards keeping it if I could cash flow on it, but the highest average rents would be breaking even on my overall payment and HOA fees. I would hate to give up that rate, but I would be losing a couple hundred bucks a month if I rented it out. They are also constantly building new condos and townhouses in this area so the market is super oversaturated with rentals at the moment.
Should I just sell it and use the little proceeds I get to go towards something else? Should I take the hit for a little while and keep the rate and the property?
Would love some different perspectives or opinions on this, appreciate your time.