Mortgage Refinance question

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I have had a 30 yr mortgage on a rental condo since March 2018. Here are some details before I continue:

Original Principal: 84K

Remaining principal: 62K

Interest: 5.25%

Monthly payment: $722 + whatever extra I pay on the principal that month.

I am considering refinancing since the lender is offering a lower interest rate depending on my credit (about 4% interest rate). I asked for an estimate of my monthly payment and the new payment would be $474 and change.

I currently have a tenant paying $1100 a month, so the cashflow would just be added onto the principal to pay off quicker. That is my strategy at least.

The closing costs would be around $1600 + a $485 appraisal fee. Is there any way to lower the closing costs or are they inevitable?

Please let me know of any tips and advice as I am a 23 year old investing in his first rental property out of many more in the future. I appreciate the knowledge from all who take the time to respond.

Blessings!