Will my rental property sale trigger capital gains in my case?

[Jack B.]

I take it the answer is a yes  because the sale and purchase price difference.

I bought the house for 310K.

I can sell it for 400K.

I put 100K down when I bought it.

I recently cash out refinanced it.

After transaction costs of selling, I'll have 70K difference from sale price and purchase price. But that's my down payment, or part of it anyways. Will I still owe capital gains?