Rent or sell your existing home : How to calculate

[Ninu Arun]

We own a townhome and its our primary residence for the past several years. It has 14 years left on the mortgage at 1.99%.

The principal and interest is 1311 per month. Taxes+Insurance+HOA is 577 per month.

We recently bought a new single family home with 20% down and mortgage 7/1 arm @ 4.625%.

We are trying to determine if it make more sense to rent the townhome versus sell it and apply the principal to the principal of single family home mortgage.

The expected rent is 2500 per month.

Rental management expense : 1 month rent for tenant placement and 8% rent monthly fee.

Can someone help me do the math?