New to BP and could use some guidance on to "Sell or to Rent?"

[Tony Cap]

Hello BP Community,

I am new to the Real Estate Investing Community and could use some guidance on deciding whether to Sell or Rent my townhouse. I had recently been relocated for work which is a great opportunity, but leaves me with the dilemma of selling or renting my relatively newly purchased townhome (1 year). This townhome is in a growing suburban area with limited rental options, and homes to purchase for that matter too. It is a 10 year old, 3 bedroom / 4 bathroom townhouse that has been fairly recently renovated. This is in an attractive suburb with highly ranked schools and a brand new hospital 1.5 miles away.

The particulars:

Mortgage: $330k @ 2.5% - ($324k remaining)

Mortgage payment (including taxes and HOA): $2100

Comps in the area selling for: $340k - $360k

Comps renting in the area for: $2300-$2800 / mo

One of the financial considerations is that my relocation package will cover all of the seller’s fees (realtor fees, etc) should I decide to sell.

I do have family and friends in the area that could serve as my property management should somebody local be needed.

I know that selling and getting my money (~$25k) back out would be the safest and easiest route, but I know that with the risk of renting comes the potential rewards towards building wealth as well.

Being new to to this, I’m sure I’m a little naïve as well, so any thoughts, feedback, or advise to consider is greatly appreciated.

Thank you,

Tony C