Sample report. Anonymized figures for illustration only. Your report uses your own inputs.
Verdict — 10-year after-tax
Hold wins
Terminal wealth $1,842,000 vs. Cash-Out Refi at $1,798,000 — a $44,000 edge.
This is close — within 3%. Treat it as a coin toss and let non-financial factors decide.
Path comparison
| Path | IRR | Terminal wealth (yr 10) | Net cash at exit | Equity multiple | If held until death |
|---|---|---|---|---|---|
Hold 10 years ★ Winner | 8.1% | $1,842,000 | $812,000 | 2.31× | $2,106,000 |
Sell Now | 6.4% | $1,512,000 | $486,000 | 1.90× | $1,512,000 |
1031 Exchange | 7.6% | $1,734,000 | $704,000 | 2.17× | $1,986,000 |
Cash-Out Refi | 7.9% | $1,798,000 | $748,000 | 2.25× | $2,058,000 |
Sensitivity grid Detailed only
Winning path across ±2% appreciation (rows) × ±2% alternative return (columns).
| Alt -2% | Alt -1% | Alt 0% | Alt +1% | Alt +2% | |
|---|---|---|---|---|---|
| Appr -2% | Sell | Sell | Refi | Hold | Hold |
| Appr -1% | Sell | Refi | Refi | Hold | Hold |
| Appr 0% | Refi | Refi | Hold | Hold | Hold |
| Appr +1% | Refi | Hold | Hold | Hold | Hold |
| Appr +2% | Hold | Hold | Hold | Hold | 1031 |
Audit trail — rates & rules used Detailed only
- • Federal LTCG bracket applied: 20% (MFJ, taxable income > $600k) — IRS Rev. Proc. 2025-32.
- • Depreciation recapture capped at 25% — IRC §1250.
- • 3.8% NIIT applied on passive income above $250k MFJ — IRC §1411.
- • California FTB progressive brackets applied (13.3% top marginal).
- • Passive loss allowance phased out at MAGI $250k — IRC §469(i).
- • 1031 exchange models carryover basis + fresh depreciation on the excess basis.
- • Cash-out refi treated as tax-free proceeds; new interest deducted against future rental income.
- • Terminal wealth computed by discounting alternative-return-adjusted cash flows to year 10.
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Standard ($59) covers the comparison table and verdict. Detailed ($129) adds the sensitivity grid, audit trail, and PDF export.
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