1031 exchange or keep the current property?

[Daniel Huang]

Hi Everyone , 

  I am currently debating if I should keep my Duplex which just cashed out refi(250k cash) this year or I should 1031 exchange to a new purchase.

Below is the scenario:

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Current Property  

-Duplex Attached (1,200 sf)

-Lot Size:6,500 (R2 Zone)

-Potential sold price: $750k-820k

Gross Rent: $44,600

NOI: $37,000

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Future Property 

-Potential purchase price: $880k-940k

-Duplex Detached (2,100 sqft)

-Lot size:9,300 (R3 Zone)

Gross Rent: $55,000 (After repair rent $70,000)

NOI: $41,000 (After repair NOI $56,000)

-ARV $1.15M-1.25M (100k-120K Repair estimated)

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Any suggestion would be helpful.

Thanks in advance.

Daniel