[GDSOB]

If 480K was the number, you should have seen an offer for close to that already. If these are breaking even at your level of investment, they are big time cash flow negative at your selling price.

Since the operating income doesn't offer buyers a rate of return at this number, your potential buyers are the developers/ speculators only. So you are betting that the property continues to appreciate at 25% per yr to get to 500K in two months.

If you believe the realtor that that price is reasonable, then you are spending $1500 to make 20K in two months. Pretty good return eh? It looks like you are counting on the market catching up with your price.

I'd sell and move on to another opportunity. This one's about tapped out... (what Big Ed said...)