Sell or Rent?

[Tatyana K.]

Hello everybody!

I'm newbie here, please treat gently :-)

I have dilemma to solve, would love all your thoughts and advices.

We own a TH that we bought in 2006. Recently, we decided to upgrade, and now we're under contract a bigger house (it was really good deal for the area, so we jumped even though the timing was wrong for dealing with our current house).

Long story short, now I have to make a hard decision and minimize our losses.

TH bought in 2006 for 400K, +25K in upgrades

current mortgage (30 y fixes @ 3.325) $1900/month +$100 HOA fees

loan balance - $330K

last appraisal - $378K

Possible rent - ~1.9 - 2K

So my question is - is there a good calculator/resource/method to run some numbers? It is lose-lose from investing stand point, but would rent work long term?

Help please?

Thank you!

T.