Long Term Rental Property Better to Re-Rent or Sell?

[Ryan Johnston]

Hi All,  I have a single family home that has been a long term rental I am weighing thoughts of cashing out vs renting it again as tenants vacate end of this month.  

Overview:

Address: 3960 Pleasant Shade Dr, Atlanta GA 30340 (Have owned for since Nov 2016 and depreciating)

Details: 3 bed 2.5 bath 1,847 square feet (None of the photos online are current)

Principal Owed: $232,000

Mortgage Rate: 3.375%

Monthly Payment: $2,010 + $250 for landscaping and pest control

Current Rent $2,450 a month

Projected New Rent: $2,750-$3,000 a month

Potential sales price $450-500k.  The home backs up to a busy road and I think $500k is a realistic hard cap on pricing for quite a while.  

I am a realtor myself so I can save on fees but my assumption is if I sell I end up somewhere with $200k that I would then need to pay capital gains taxes on.  I can also get a Home Equity Loan from Better Mortgage for another $70k and then sell which would reduce the taxable amount to about $130k

Curious on thoughts from others if you would prefer to try and rent it out again or sell and allocate the money elsewhere.  There have been a decent amount of repairs annually and at some point it will need the floors refinished and kitchen redone.