No, it's not just ordinary income ("plain income"). It would be a long term capital gain, if sold for a profit, and subject to lower tax rates.
A loss on the sale of personal use property is not deductible. So, there will be no effect on your taxes this year. You do NOT need to adjust your estimated payments. You don't even need to report the sale, on your taxes, unless you get a form 1099-S form the closing agent (check your closing documents)
