Should I refinance??

[Brett Lee]

I have a duplex that is currently on a 30 year loan at a rate of 4.875%.  I currently owe $129,600 on it and my monthly payment is $1200.  I have 18.7 years remaining left on this loan.  

I have been shopping rates and have been quoted a rate of 3.5% on a 30 years for this property.  However, fees are around $10K.  It will take my 4 years to pay off the fees associated with this refi.  I would be saving $212 per month which is nice... but I am just struggling with figuring out if this is even helpful to me or not.  

I keep going back and forth on this as to what to do.  Not sure if this makes sense to proceed or not...  Right now, I am leaning towards not proceeding with refi and just paying on my current mortgage (possibly paying extra on principal).  

What are your thoughts?  Would you refinance if you were me?  I realize everyone has different goals... but I would appreciate some different perspectives in thinking about this.  Thanks!! 

-Brett