Prepared by Diane Hibbs · eXp Realty
Your lease at 14777 Wunderlich Drive #702 is coming up for renewal.
This is a natural moment to reassess. Here are your options.
A Note to the Owner
Lease renewals are the best time to step back and ask: does this still make sense?
Your tenant's lease at 14777 Wunderlich Drive #702 is approaching its renewal date, which means you have a clean window to evaluate where you stand. You own the property, it has been renting, and the question now is whether the path forward looks the same as it did when you signed the last lease.
I am reaching out because I work with property owners in this exact position. A lease renewal is one of the few moments in the ownership cycle where you can make a change without disruption. You can renew, you can sell and do a 1031 exchange into a different property, or you can sell outright. Each path has different numbers attached to it, and the right choice depends on what you want your next few years to look like.
I am not here to convince you of anything. I am here to put the options in front of you so you can decide what fits.
Your Options
Renew, exchange, or sell. Three paths, one property.
Renew the lease, keep the property as-is
This is the simplest path. You keep collecting rent, the tenant stays in place, and your equity continues to grow while the mortgage balance shrinks. Nothing changes except the lease term. If the current arrangement works for you, there is no reason to complicate it.
Sell and execute a 1031 exchange
If the numbers on a sale look better now than they did before, a 1031 exchange lets you sell this property, defer the capital gains and depreciation recapture taxes, and reinvest the full equity into a replacement property. The tax deferral can be significant, and the replacement property could offer better cash flow, appreciation potential, or a location that fits your long-term strategy.
Sell outright and cash out
If you have other plans for the equity, a straight sale gives you the net proceeds after paying off the mortgage and covering capital gains and depreciation recapture. No replacement property to find, no 1031 timeline to manage. Clean exit, cash in hand.
The right choice depends on your personal financial picture, your timeline, and what you want from the property going forward. A quick conversation can clarify which path makes sense.
Run the Numbers
A 1031 exchange comparison calculator shows you the numbers side by side.
If a sale or exchange is on your mind, the first step is seeing what the actual numbers look like. I built a 1031 Exchange Comparison tool that lets you enter your property's specific financials and compare three scenarios in one view: keep the property as-is, sell and 1031 exchange into a replacement, or sell outright with no exchange.
It shows you the cash flow, tax implications, and equity position for each path. No login, no commitment. Just the numbers.
1031 Exchange Comparison Tool
Enter your current estimated value, purchase price, mortgage balance, and monthly income and expenses. The tool projects all three paths side by side so you can see what changes under each scenario.
Open the 1031 Exchange Comparison ToolThis is an educational estimate, not tax or investment advice. Consult a CPA and a Qualified Intermediary before making a decision.
Deeper Analysis
See your full investment picture.
If you want to go deeper, the Investment Property Calculator pulls in rental income, operating expenses, mortgage details, and projected appreciation to show cash flow, cap rate, cash-on-cash return, and long-term projections. Free, no login required.
Open the Investment Property CalculatorNo Pressure, Just Options
You know your property and your situation better than anyone. The question is whether the market conditions have shifted enough to make a different path worth exploring.
The 1031 exchange calculator is a starting point. If the numbers look interesting, we can have a real conversation about what a sale or exchange would look like in practice, including the timeline, the Qualified Intermediary requirement, and the type of replacement property that would fit your goals. There is no urgency here. The lease renewal gives you a natural window to evaluate without pressure.
If you would rather just talk it through, I am happy to do that too. A 15-minute call is usually enough to figure out whether any of these paths is worth a deeper look. No commitment, no follow-ups you did not ask for.
Diane Hibbs, eXp Realty · License #813481
Give me a call or fill out the form below.
Diane Hibbs, eXp Realty · 918-688-1428