From a purely financial position of a car commute vs a non-car commute, the monetary payoff horizon is measured in years as long as you keep a car. Even if you can bike around town, making the car redundant, the payoff takes years. However, for me, a car commute that takes longer than about 20-25 minutes or deals with heavy and/or stop-and-go traffic is beyond my threshold of patience. I will be frustrated when I get to work and frustrated when I get home. Others might feel totally different.
So I take the monetary benefits and lump them in with the mental and physical health benefits and call it done. Of course, in my case, it's even easier because I was able to drop to single-car status, so the finances caught up quickly. In your case, you will have to decide if you feel the same way with little regard to the finances. And if you drive the car, the decision will definitely be a personal, not financial, one. One other point to consider. If you live two miles away, getting to work when your car is in the shop will be a breeze.