Rent VS Sale personal property
I bought a new home and need to move out my current home.
Indianapolis, Indiana
My current home has $75k left on mortgage. I bought it in 2012 for $110k. Morgage interest rate 3.38%.
I don’t know if I should sale it or rent it out for cash flow. I tried to use the calculator but still couldn’t figure out what’s best
Rent: possibly $1,250/month (3bed/2.5bath)
Sale: comps for exact home or slightly smaller recently sold for around $160k
With rent I know there are addition expenses: vacancy- tenant repairs
HOA: $25/month
Mortgage/Tax/Insurance: $830/month
Water: not sure I think I average around $30/month possibly.
I do want to get into the game of cash flow rentals but i am not sure if I should do that with Thai property if I can almost sale it and get $85k
Your advice is needed.