Help Me Analyze My Situation (Hold/Rent or Sell)

[William C.]

I am hoping for some additional sets of eyes to analyze my options. Current situation... I own the home and live in it as my primary residence. I am strongly considering purchasing a new home to occupy as my primary residence. The two obvious options I see are: rent out the home or sell the home. Selling the home is fairly self-explanatory. There has been good appreciation, our market is (currently) strong, and I would be able to avoid paying taxes due to the 2 out of the last 5 rule. Renting it out is a possibility, but the cashflow picture does not look favorable. I have run some simple calculations below. I AM NOT looking to fudge any numbers and magically change the cashflow outlook. What I am looking for is opinions on if I am using the appropriate numbers for my calculation and if I am missing any other avenues of thought.

The home is a 2004 build. Maintenance and upkeep has been good. It does have some of the original components still in place: 17 year old gas water heater, 17 year old AC unit, etc. The home is located in Oregon, if that helps.