Dear Moneyist,

I purchased a duplex 20 years ago and am considering selling it.

I paid $150,000 for the duplex, and spent about $55,000 on updates and renovations. A real estate agent has suggested selling it for $565,000, as a duplex, or converting it to condominiums and selling each for $300,000.

Each unit currently rents for $1,900 per month. There is no mortgage and the largest annual expenses are taxes and insurance which total about…

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