Calculating a potential Sale price - Future Value Calculations?

[Jon S.]

What formula do you use to determine how long to keep a property? I'm not sure whether to sell or not, I'm not inclined to sell, but if I decided to sell, what formula is best to use to capture the value it has to me, before establishing an acceptable sale price on it. I have a multifamily triplex, recently renovated, which brings in good revenue, positive cash flow, and good tenants. It will appraise at $400K or higher. It's in a neighborhood going through gentrification and heavy investment coming into this neighborhood, so it's value is very likely to be higher 3 years from now than it is today. My plan has been to keep this property for at least 5 years, and then perhaps keep it as a retirement income asset, as it isn't hard to manage, and I have excellent tenants. The question is, how do I put a value on it, in terms of what it is worth to me? not necessarily what it is worth to the market, as that is only part of the equation. What is the future cash flow and future equity worth to me? I believe a future value calculation is involved in this analysis. 

Thanks for any help in determining the best formulas for this question. 

-Jon