I acquired a home in a highly-sought after neighborhood in a moderate-sized college town back in 2017. The area is mostly university faculty, lawyers, or doctors, but with a healthy mix of upper end student rentals. The area is probably the last true residential area near campus due to heavy student housing development. Original purchase price was $250k.
The original intent was to hold this (and several other properties) forever, but with recent appreciation and a potential buyer, it’s pretty tempting to cash out. Currently making a profit of about $600/m (beyond mortgage/escrow) but could easily be in the $800-1k range. Would expect to sell for close to $320k.