Should I sell my old investment

[Sameer Kh]

Hey folks, I own a single family investment property. I was built in 1983 and when I bought it in 2016 it was renovated (new roof, foundation beams, appliance, carpet and paint).

Its been 7 years since I bought and my interest rate for 30 year was 3%. I have paid off more than 40%. The house has appraised to almost double my original purchase price.

the property generates little positive cash flow of $250 per month. (Keeps growing since I have renters who just renewed for 2 more years and I kept nominally increasing every year. Last few years insurance and property taxes have impacted cash flow a lot.

since the property is old every now and then I have had issues such as leaks in pipes, fence falling, and appliances. 

My question is should I sell this house and buy a slightly newer and rent it out OR just pay off and get full cash flow and till then invest for my repairs from my pocket/heloc for repairs which will increase.