Sell or rent home in low rent/high cost market?

[Phil Jones]

Hi BP! 

I have a home in Austin that I've been house hacking for a while. My tenants moved out and I am likely not going to be staying there. I figured at first I would rent it out, but once I ran the numbers I wasn't so sure.

The house has appreciated a lot (it's worth about 325K and I owe less than 60 on it) but my research suggests it would only rent for about 1800 a month.

While it would cashflow fine since I owe so little on it and my mortgage is low, it doesn't seem like a good return on equity. 

I'm not sure I'm looking at this in the right way, and I'm curious what others think.

Does it make sense to get such a low return on equity in hopes of more appreciation, or should I cash out and invest in properties with a better rent/price ratio?

Thanks in advance!