Pay off rental or invest in more properties?

[Don Bessette]

I own 2 single family rentals, one is Zillowed at 156K with a 118K mortgage at 3.41% 12 years remaining.

The other Zillows @ 141K with an 86K mortgage, same rate and term.

I'm 61 and planning on retiring in 5 years with no debt.

My home is paid for and I max my 401K every year, I have cash available to pay off the 118K on the first property and use the savings toward the other property and pay it off in 4.5 years, giving me about $1800 a month gross rental income.

does this make sense?