Need help crunching numbers!

[Jayson Hinkson]

I have a single family rental I have owned for over 3 years now. I have no issues finding tenants. It is currently vacant while I clean/repair for new tenants but I have added value over the years and think it is worth a lot more than I purchased it for. So the question is should I sell (get cash out for another deal) or continue to rent (not the greatest tenants in this area).So here is the deal breakdown….

Purchased in 2013 for $61K with 20% down. I currently owe $46K.I believe the ARV/potential sale price is around $90-95K. Potential profit of around $40K that I could 1031 exchange.

As far the rental information goes….The payment is $374 per month plus $16 trash included = $390 total per month. It was rented in the past for $900 so a net of around $500 per month. There shouldn’t be any further repairs/upgrades needed….New roof 2014, new HVAC 2014, new hot water heater 2013, new appliances 2014, new doors 2016, new bathroom 2016, septic tank line replaced and tank pumped 2016.

Just looking for guidance on whether I should hold or sell….Thanks in advance!