First time evaluating Sell or Rent!

[Katie Crane]

Alright - I tend to overanalyze anything, think I know which way I'm leaning based on MY math and also which why based on my heart - two different answers - would love some unbiased feedback as I've never rented a property out.

Facts:

Purchased House in May 2019 for $305,000 ($113/sq ft, 2678 sq ft) I put $61K down. Loan was for $244K with a 4.625% interest rate. Yearly taxes are $1,894, HOA fees are $213/quarter. My monthly payment is $1,254.50.

We can likely rent the house for $2500-$2750. I would err on the side of $2500 to be conservative. The management company fee is 8% and first month's rent anytime there is a vacancy. If we continue to own the house, we will eventually need to do the following repairs: Furnance (5K-7.7K was the quote we got), Roof (here we can work with companies to get insurance to pay for it?), replace windows in the house (really putting this off!), correct drainage issues in the backyard.

Or, we can sell the house. We will list for $430K based on where other houses have started at recently, but everything in our neighborhood is going between $15-$60K above asking price (hoping for $450K). We are the largest sq ft in our "section" of the neighborhood and offer more storage, bed/baths, updated kitchen, flooring, fixtures, paint, fenced - but we don't have a deeded boat slip, just community lake access.  Selling the house will cost 3% + $500 as I'll be using a flat fee agency.

We've put $40K into the house, have paid $23K in interest so far, had closing/inspection costs of $3,850, and have paid about $2700 in Homeowners insurance.

Which route would you go? Let me know if you need anymore information - I'm an open book! Majored in finance, but all of these numbers are currently making my head swirl!

Thanks in advance!