Property in Las Vegas. Should I Refinance? Or Should I Sell?

[Jason Pasion]

Aloha! I purchased a single family home 5 years ago in Las Vegas for $162,000. Current comparable price is $178,000. My mortgage payment is $1180.00/mo. I currently have renters who are paying $1100/mo. 

A mortgage company offered to refinance which would bring my payments to $883/mo. 

Should I refinance? Or should I sell and get another property?

Any advice would be much appreciated. Thank you so much for your help in advance!

Mahalo, Jason