Sell or hold:Calculating return on equity factoring capital gains

[Jeremy VanDelinder]

OK BP nation--help me figure this out. I have a rental property with a healthy amount of equity in it. Because it was my homestead until the end of 2017, if I sell by December of 2020 I avoid capital gains taxed (because I will have lived in it 2 of the last five years). Because I'm more than half way through a 15 year note, I'm burning down my principle pretty quickly so I'm "picking up steam" with my IRR.

However, I'm starting another new business and I'm considering selling it to put that money into the new business start-up, but I hate to sell houses (it's like killing the golden goose). Does anyone have a spreadsheet that I could put my numbers into that would show me what my return on that equity would be by pulling it out and reinvesting versus holding it for the long haul. I don't just want to see cash flow (that's easy). I want to calculate IRR while also factoring in the decreased return that will kick in about a year or so because of capital gains.

In short, what is the best thing to do with that equity? Thanks in advance!!