Sell or Hold 1 year old Rental for 50k profit?

[Tyler Steinke]

Hi Bigger Pockets Investors,

My wife and I purchased a rental property in Bend, Oregon 1.5 years ago for $480k and put another 30k into rehabbing it. Our current tenants are moving out soon after 1.5 years. My question is “Should we throw it on the market and net around $50k in profit or hold?” If we put the home on the market we would lose at least a month rent and utility cost.

Some background on the property is that we put 120k towards a down payment at 6.125%. Mortgage plus PITI is $2500 and rent is $2600. The home is turn key with a new roof, furnace, floors, AC unit and paint inside and out within the past few years. The unit is in an "A" location but we don't love the layout and it is on a very small lot with a minimal yard and one car garage. We have a lot of money tied up in the unit and would like to find a rental unit the we would consider living in at some point with a house hack option/ADU and or a home that has a better long term appreciation potential. We really are breaking even as far as cash flow is concerned but would also be in a fine financial situation if we rented it back out and would just lose a month of rent.

My wife and I both work W2 jobs and manage our rental properties ourselves. We currently have three other rental properties and rent a studio out in our primary residence. Any advice would be appreciated.

Thanks, Tyler & Rachel