To Rent Out Or To Sell Near Nashville

[Joey Tuckey]

The house I currently own/owe on is in Madison TN. I came into it knowing it needed work but the price was right (156k). I've put about 10k into it and quite a bit of sweat equity since purchase. The house looks great now. Not just my opinion, I've had realtors walk through. It's gone up in value almost 86k at this time but my mortgage is only 1,030.00 a month including taxes. I'm throwing these numbers out because I have a dilemma. We are planning on moving to Austin, TX in the near future and I don't know if I should sell or rent? If I sell there's no capital gains tax, if I rent I could get around 1560 a month but it will need a new roof and a/c units. It's a 3 bed 2 bath with easy access to amenities. 

So numbers wise:

156k purchase price

244k current value but I was told because of proximity to downtown more like 250k

1030.00 mortgage subject to change if not primary household

1560.00 estimated monthly rent

12k new roof and split a/c units

3 bed 2 bath 1700 sq. ft. 

Couldn't think of a better place to ask this question!