Moving... sell or keep & rent current primary residence?

[Holly Brueggman]

Hi BP - Going back and forth about this and wondering what other investors would do with a previous primary residence. I just purchased a different home to move into that needs work, so I'm hoping to build up some sweat equity there, but I still need to decide what to do with my current home - sell or rent??

~Single family townhome-style property (tall & narrow), 2015 build, with a very small lot (if you know the Shady Acres area of Houston, TX - practically nothing outside the boundaries of the structure itself, but we do have a nice-sized patio) in a desirable A-class neighborhood with loads of new construction in a similar style.

~Existing mortgage = $365k / Current value = $480k / Rent value = $3k / bought in March 2019 @ $389k; refinanced in Dec. 2020.

~Cash flow would be positive, but small - around $100 - and doesn't fit the criteria of what I would normally invest in.

Is it worth it to keep the property to rent and avoid all the fees associated with selling for potential continued appreciation? Or does it make more sense to cash in on the hot seller's market and roll my funds into something else (specifically, renovating the new property or buying something else)? Or just get a HELOC to finance other acquisitions?

I've lived in the property long enough that I won't have capital gains tax to worry about if I sell in the next 3 years.

Thanks all!