Do I have a good or bad rental?

[David S.]

Having trouble determining how to assess my investment returns. My rental property is in Boston where 1% rule is hard to achieve (live-in converted to rental after moving out). Rent is 3300/mo. but after all expenses and mortgage net cash flow is about $80/mo. Property was purchased for $500,000 with 10% down in 2009 ($50k initial investment). It is now valued at about $800,000 10 years later. Mortg. bal is now $355,000 so equity is $445,000. 

Appreciation has been the reason for holding on to it, but the ROI appears to be dismal if I calculate it based on current equity. ($960/445,000=0.2% per yr). This does not factor in the appreciation CAGR of about 4.7%. But still makes me think maybe I should liquidate and reinvest into the stock market for 8% returns. Rents in the area do not go much higher than 3300 to 3500.

Am I looking at this right? Can anyone give any thoughts on this?