200k Equity in Indianapolis Townhome - Rent or Sell

[Kraig Gallagher]

Good evening everyone. My name is Kraig and I'm newbie. I wanted to get thoughts on this property I currently own outright (approximately 200k), we've purchased another home currently under construction. The townhome is a 3 bedroom townhome located in downtown Fishers, IN (with alot of development currently in the pipeline). The townhome is walkable to anywhere in downtown Fishers (restaurants, retail, parks, trails, etc.) Rent would be anywhere from $1700-1800/month. Expenses/month: Taxes 300, HOA 184, other misc. expenses for vacancy, repairs, etc.

Would you stick with this property or look to sell this and get equity to purchase a larger property and what your recommendations or strategies make sense. I'm a project manager for a development company with multi-family/office construction experience so have an advantage from the standpoint.

Thanks in advance.