Tired of Being a Landlord? Your Property Is Worth More Than You Think.

Usually yes. Federal capital gains run 15–20% depending on your income, and New York adds state tax on top. Your gain is calculated from your adjusted basis (purchase price + improvements – depreciation), not your original purchase price which is why the bill can be larger than landlords expect. Talk to your CPA before listing; timing the sale can significantly affect what you owe.

Every year you owned the rental, you were entitled to depreciation as a tax deduction. When you sell, the IRS "recaptures" that depreciation at up to 25% federal tax even if you never actually claimed it. This is one of the biggest surprises landlords face at closing. A 1031 exchange can defer it, but only if planned in advance.

A 1031 exchange lets you defer capital gains and depreciation recapture by rolling proceeds into another investment property. The rules are strict: 45 days to identify replacements, 180 days to close. It's not for everyone but if you're exiting one rental to buy another, it can save tens of thousands in taxes.  Please seek a CPA's advise on 1031 exchanges.  

Yes. Investor buyers often prefer tenant-occupied properties because they generate income from day one and the lease transfers to the new owner. The trade-off: your buyer pool is smaller (most owner-occupants want vacant possession), and tenant cooperation with showings matters. Both paths can work; the right one depends on your timeline and goals.

Rent-stabilized units have specific rules that shape both market value and who will buy. Buyers are almost always investors, and the price reflects regulated rental income rather than market rates. This doesn't mean your property isn't valuable it means it's valued differently, and you need an agent who understands how that market works.

Good Cause Eviction (NY, 2024) limits a landlord's ability to refuse lease renewals or raise rent above defined thresholds, and applies to certain properties based on size, age, and location. For covered properties, this affects buyer expectations and pricing. Patroy and team can help you determine whether your property falls under it.

Long Island and NYC home values have climbed 50%+ over the past five years, but markets shift, and the "right" answer depends on your goals. Tired of being a landlord? Planning a 1031 into something easier to manage? Heading toward retirement? Patroy will give you an honest read on current conditions and how they map to your situation.

Owner-occupied homes are valued mainly through comparable sales. Investment properties are also valued by income, cap rate, gross rent multiplier, and net operating income matter to investor buyers. Depending on your property's type, location, and condition, you may be marketing to one buyer pool or both.

Depends on who you're selling to. Investor buyers don't care much about cosmetic upgrades they care about price and income. Owner-occupants do care, and modest updates can return significantly more than they cost. Patroy will help you decide what's worth doing based on your target buyer.

NY requires the Property Condition Disclosure Statement (PCDS), though many sellers historically opted to pay a $500 credit at closing instead, but recent law changes have tightened this, so disclosure is now the safer path. Investment property sales also typically require disclosing lease terms and known tenant issues. Missed disclosures can trigger lawsuits even after closing.