Agree, your returns aren't that good on this property (HOA fees are killing you). Another reason investors typically shy away from condos. With your current return, I'd be tempted to sell the property even if you didn't need the equity for a downpayment and place the funds in a Vanguard index fund, but that's just me.
Another point I thought of - taxable gains on the sale. It doesn't appear you will have any gain on this property, but if you use(d) the property as your residence for at least 24 months in the last 5 years before sale any gain up to $250K is non-taxable. You mentioned renting the property for 3 years, so you MAY be right on the line depending on the exact date you sell, exact dates of rental, etc. Just FYI