Would you sell this property or continue renting?

[Derek Cole]

I became an accidental landlord, when I bought a house 3 years ago, and did not sell the house I had lived in for 10 years.

Here are the facts:

House purchased: $200,000

House Mortage remaining: $162,000

Rental History: 3 years at $1750 a month

Rental Maintenance: Year one $6500 roof replacement, Year 2 ~$3000 in appliance maintenance, Year 3 ~$9000 in repairs after the 3 year tenants ruined the inside of the house

Property Management: $175/month

Taxes, Insurance, Interest: ~7500/year

House Value: ~$255,000

Home improvements since purchase: Approximately $15000 in upgrades while I lived there. Deck, hardwood floors, countertops, etc.

It seems to me like I am better off selling and investing the gains in my stock portfolio, but I would like to hear other opinions. The house just got finished with the renovations after the last tenants, so it is in tip-top shape. I also think I could rent it for $1900/month and possibly lose the property manager. The house seems to be appreciating in value, but I think it would take at least a few more years to get to, say $300000 in value.

I hope most of the maintenace is DONE for a while on the house, but the tenants destroying the inside really stings this year (had been good tenants for ~3 years until the end), and makes me think I am done dealing with the property.