Too far away for me to mess with. I'd sell. Why take only 55K if it's "worth' $80K? How did you arrive at that number? If using Zillow or the county assessor's office keep in mind that often those are not accurate sources of data for market value.

Have a local real estate agent do a Market Analysis for you to find out what the real value is. If stuff is selling for $80K, then list for $85K. If $60, then list at $65K, etc. Always build in a little "wiggle room" when listing so you can make the expected concessions to a seller so they feel like they're getting a good deal.

You can always come down in price, but rarely do you get to come up.

Good luck!

If your family is finished at college in that town, and it is as you described, I’d likely sell.

You might try to find another parent sending their kids to that university and suggest you are making them a deal. Advertise it yourself if you can, on Zillow, FB marketplace, etc. you can save the realtor fees .

The key sentence here is that you are too far away. Sell.

If you can wait till spring, list it then, and in the meantime, spruce it up to catch a buyer. The minimum you have to do: Paint it (in and out), repair broken things, clean it from the floor up, including windows, drawers, cabinets, clean the yard, garage, trim trees. Remember, you trying to unload it in a tough market.

PG of SC, you purchased the property for your daughters college years.

Rent $750.

40 miles away, 80 miles round trip.

Lets say $75K fair market value per real estate agent CMA.

75K divide 4 years of college = $18,750 per year.

$18,750 per year divide 12 months = $1,562.50 per month.

1,562.50 per month divide 3 bedrooms = $520.83 per bedroom.

Would a college student pay 521 per room rental? Would room rentals be permitted in the area? It's a rooming house and are roomy houses permitted in this town?

Can students walk to college?

Fair market rent $750 divide 3 bedrooms $250 per bedroom.

Create a flier for the college and post the flier on campus; room rentals.

Paint the place, update any worn items in the house. If there is carpet and older lino replace with click vinyl flooring. Furnish with basis furniture: bed, desk and dresser each bedroom. Table in kitchen and or dining room, basis comfort in living room 4 large recliners and large TV in LR. Coin laundry; washer and dryer in basement. Make sure basement is clean and freshly painted. Plus FREE WIFI available.

You may have the unit rented or it may be vacant but the SFH will look better to an investor or parent looking for a place for their kid to stay for four years. Clean, freshly painted will look nice when showing. Maybe paint the front door the college colors: door one color the door trim the other color.

Get a CMA for a least 3 realtors and know exactly the market value and if house are not selling. Put it on the market below fair market value maybe $5,000.

If you want post pictures on mrlandlord of the house you will get ideas on things to do to the house if there are any. if the roof is not leaking do not worry about it. Also if you do decide to sell it get a pre-home inspection to know of any issues or concerns.

Best of luck with it.

How often do you drive to that town? I drive 40 miles to get to the big box stores. I'm often there once, twice, three times a week. So for me, 40 miles in one direction is perfectly feasible. On the other hand, I picked up a place that's 40 miles in a different direction. Yes, it's in the renovation queue, so it's not active, apart from having a local guy keeping it mowed until I get to it-- but the last time I visited it was just before Easter.

So distance isn't an issue, unless distance is outside of your routine. If the distance is outside of your routine, definitely sell.

What is its proximity to the college? Did your daughter have to drive from the rental to the campus because it wasn't safe or convenient to walk? Inside the University Bubble vs being outside the University Bubble are two very different things. If it's outside the Bubble, definitely sell it.

The neighborhood deterioration. Is it neighborhood deterioration inside the Bubble, or at least just on the edge of the Bubble? If so, gentrification may catch up to it someday in the future, depending on the prestige of the institution. If the neighborhood deterioration is outside the Bubble, or is too dangerous for parents to be comfortable allowing their kids to stay there--- then yeah, sell.

Tenant pool selection-- Are you trying to rent to current students? Grad students? Or are other students unrealistic tenants (due to geography, safety, marketing, whatever). If other students aren't connecting with the property, despite the desirability, then sell. If students are connecting, but are dropping out mid-semester and going home and you can't get their rooms re-rented, then sell. If you're trying to rent to the general population and the people you want to rent to don't want to live there, then sell.

40 miles away is about the limit to drive for an easy to manage property. A student rental is not an easy to manage rental, so I recomend to sell.

Get 3 agents to look at the house and give you comps. If you are happy to wait a bit to sell, list at the high comp. If you want to get rid of it fast, list a couple thousand below the low comp.

Thanks everyone for the input. Update done spent more than I planned, but don't we always. paint - flooring - some bath and kitchen changes - decks painted - shutters painted - a couple of old doors changed.

Never thought about inside or outside of the bubble.This house is outside the bubble, but good point anyway. Deanna Tx. When my daughter was living there she took care of everything so driving wasn't much of an issue. Yes she is one of those kids that makes you proud. now she is married and a bank manger.

Sid MO - Comps pending. Fall 2017 had an agent do a CMA ball park 75 to 80k.

I am thinking you are asking if you should sell to an investor at 55 or retail it out at 80.

Then just list with that agent..