Do you want to continue? Advice needed on if to sell a rental.

[Eric Klug]

Good morning,

Yesterday, I received news that my tenant is ending her lease early.  This shouldn't be a problem, as I have a solid termination clause in the lease.  The question is, do I immediately look for a new tenant, or list the property for sale?

Quick numbers:

Purchased at $237k, currently valued roughly at $266k, I have $144K left on the mortgage at 3.976% (principal payment is ~$350/month), current rent is $1800, net cash flow is $245/month.

This is a townhouse that was built in 2012, and nothing of note has needed replacement.

I'm confident that I could easily get a new tenant in for $1800-2000, but I believe that maintenance cycles will be coming due in the near future.  The house has two AC units and two furnaces.  

I was laid off last year (as were many) and went through a portion of my savings.  Between the relatively good RE market, the time of year, current low-interest rates, and my reserve being less than desirable, I believe that it would be advantageous to list the property for sale.

This would also give me a chance to wipe my financial slate clean of some consumer debt, finish a stalled renovation and get it rented, and still have the cash to put down on a duplex in the near future.

I am interested in hearing the community's thoughts and appreciate the insight.