I don't think this is as easy and running numbers through a calculator. This decision has a lot to do with how much appreciation your property experienced, how much more you can realistically expect, how management intensive the property is, etc.
In addition, you'll want to consider what kind of options you have for replacement property/properties. Can you find something that is easier to manage and provides better or more stable income? In this case, it may be wise to capitalize on the appreciation you've seen in your current rental and move the money (through the 1031 exchange ) into an asset that has more room to grow.
run your business plan and ask is this property doing waht you want it to do? What is the rntal market going to do in the next few years compared to your other option. Speak to a top producing agent local to your property they can help as your decision will invlove one or more transactions. You need to do what is bet for you and your future but make it an educated decision.
Sal Salvatierra, EMS, CEA
Business Development Director, Bayview 1031