To Sell or Rent

[Dan Brainard]

Just closed on our first investment property last week. It's a SFH in a gentrifying area (is that a word?)+. Did a bit of landscaping but otherwise it was move in ready. I had it staged and professionally photographed. The original intent was to rent it. The photos came out so well I decided to put it for sale as well at a price I didn't really expect to get. Both the for sale and the rental listings went live (MLS) late last night and I've had unexpectedly high interest for both. To the point where I now may have a real decision to make. Here are the facts:

Purchase price -$105,000

Cash outlay- $29,671.87 (includes 25% down, closing costs, staging, and a few odds and ends)

PI payment $417/mo (4.875% 30yr fixed)

Insurance $1200/yr

taxes approx $1500/yr

 Expecting approximately $2,000/mo rent

It's listed for sale @ $164,900

Also Note: I'm a Realtor I only would pay 3% to another buyer's agent if I sell

 If I were to get close to $165K would I be a fool to pass on that in lieu of the rental income? Now I'm trying to decide if I should hold off leasing it to see if I can get that price or if I should just see which opportunity happens first and jump on it. Thanks for the feedback.