How do you decide when it's time to sell a rental? What metrics do you use?

[Allan Smith]

I think ROE is the best metric for benchmarking a rental you've had a while. I have a rental in Nashville with a 3% ROE because it's tripled in value in 7 years. That seems really low.

So as I look for a replacement property, what metrics should I use? What would be the minimum you'd have to make it worth the effort of trading up? For example, 3.1% CoC return would technically be a better return, but hardly worth all that trouble of finding property, 1031e, and so on.

I should add, the main reason I'm considering selling is to trade up into better assets. It's a C class property and while my small prop mgmt company does it in house, I'd prefer to have fewer tenants, paying more rent each, in fewer more expensive units.