It sounds like based on your calculations you can afford it and you would really rather move to this new location. I to have often looked at the feasibility of moving to a new location (currently teaching at a local uni) but the numbers have never worked out for me. I envy your position.

I would take the time to redo your math with the assumption that you might lose a few students in the move. Some of your students will have chosen your class based on proximity and if you move you are likely to lose a couple of them and if you change your format you might lose a few more. Figure out your worst case (not the 100% of your students quit worst cast but some rational assumption) and then figure out if you can still afford the new location with that many students.