Paid off House with low ROI if rented, sell or rent?

[Dave Mills]

My primary residence is paid off, and here are the details:

2500 sqft

Purchase price: $320K

Current Value: $450K

Houses are being sold with a decent price tag in my neighborhood, but the rental income is low. For instance, A 3000 sqft house is on the market for $2300 though not looking too good. I have a brick and very well maintained house, maybe I would be able to get $2500, if I am lucky. That puts me in a range of %5 - %6 in cap rate which is really low.

If I sell, I can use the lump of cash I received for a down payment on my prospect primary residence, and use the left over on investment on real estate. Though home prices are so high right now, I don't see a great cash flow with rental units. 

I am leaning towards selling, though I wanted to hear about other opinions or suggestions. I will probably keep it couple more years to see if this  madness settles down on real estate market. 

Should I sell or rent? 

Thank you all in advance....