Rehabbing a Vacant SFH to Sell or Rent - Thoughts?

[Ted Esposito]

I've had a SFH rented for the last 4 years and the tenants just moved out. The place needs to be cleaned up and possibly rehabbed. Everything is functional, but just outdated by nearly 4 decades. Should I just do the bare minimum to clean it up and continue renting it? Or should I drop some cash on updating it with a goal to sell it (or even possibly continue renting at a higher rate)?

If I were to update it, I would focus on the following:

• Kitchen update (new countertops, cabinets, appliances)
• Bathroom 1 update (total gut)
• Bathroom 2 update (total gut)
• New flooring throughout (cheap vinyl vs nice hickory wood)
• Interior/Exterior paint

Not sure which of these would have the highest resale value if I were to sell the place. Or how much of an increase in rent they would warrant. Looking for advice on what you would do in my situation.

I estimate selling as-is would get me $325k and I'd hope the updates above would net me as much more as they cost.