I don’t think it’s still underwater.
Given that I never actually bought it, I don’t know what basis should be used to calculate capital gains, and given that I would use any proceedings there to buy a house here (1031 swap?) it’s going to need an army of tax specialists to sort it out.
If you inherited it, except from a spouse, the basis would be the value at the time of inheritance. However, if it’s not your primary residence, you might not get the capital gains shelter from turning it over into another house.
Turbo-Tax probably has a calculator that will figure it out for you.