Your numbers
Renting would cost you
$722 a month
−$8,669 a year before income taxes · $68,000 of equity stays tied up in the home · about $3,152 a year goes to paying down the loan
| Rent | $1,900 |
|---|---|
| Mortgage (principal + interest) | −$1,566 |
| Taxes, insurance and HOA | −$450 |
| Property manager | −$190 |
| Empty months | −$158 |
| Upkeep and repairs | −$258 |
| What's left each month | −$722 |
An estimate from the numbers you entered — not tax, legal or financial advice. Nothing you type here is saved.
What owners in southeastern NC actually got
In the last 12 months, 241 homes in southeastern NC failed to sell and went up for rent. They sat a median of 119 days first. The 154 that rented got a median $1,900 a month — about 7.3% a year of their last asking price. We estimate 65% of those owners with a mortgage are losing money every month. And 53 couldn't find a tenant at all.
Before you become a landlord
- A lease ties up the home. Selling later usually means selling to an investor with the tenant in place, or waiting for the lease to end.
- Tenants wear a home faster. Repairs come on their schedule, not yours — and you're the one they call.
- Your equity sits still. The cash you'd walk away with at closing stays in the house while you carry it.
- Why didn't it sell? Price, condition, photos and who saw it. Fixing that is often cheaper than a year of carrying costs.
Questions sellers ask
Is it better to rent out my house or sell it?
It depends on whether the rent covers every cost — the mortgage, taxes, insurance, HOA, repairs, empty months and a manager if you use one — and whether you're ready to be a landlord for at least a year. Many owners who rent after a home doesn't sell come up short each month. Run your numbers above, then talk it through with someone who knows your market.
Can I sell my house with a tenant in it?
Yes. The lease usually stays in place for the new owner, which makes investors the most likely buyers. Selling to someone who wants to live in it generally means waiting for the lease to end or agreeing with the tenant on an earlier move-out.
My house didn't sell. Should I rent it until the market changes?
Look first at why it didn't sell: price, condition, photos and who saw it. A fresh plan — priced to the market, inspected before listing and marketed to buyers already searching for a home like yours — often costs less than a year of carrying a rental that doesn't cover itself.
Are there tax issues with renting my home before I sell?
Possibly. Rental income is taxable, and renting a former residence can change how a later sale is taxed. Talk with a tax advisor before you sign a lease.