Question about an older more obsolete site

[blake-76624]

I have a website that I don't use much anymore but it ranks on the first page for one of my main keywords.  I am using another few websites in different niches right now that are doing better and are more functional.  It may cost around 1,300 or so to get the website that I don't use anymore, to look and function in the new ways of the internet.  Would you suggest that I:

Do a site redesign (which is more difficult because to make the site do what I want it needs to be out of a wordpress theme) or 301 redirect the site to another one of my sites?

Would it make sense to do a 301? The domain is 5 years old but doesn't bring in any leads anymore because it would take a redesign for that to happen.  How can I still benefit from the SEO that I have done on that site?

Thanks and sorry if this message is hard to follow.  If I need to clear anything up please let me know.

[AsadMemon]

If you can't or do not want to rework the website because its going to cost money that you're not willing to spare you can by all means 301 redirect it to your other website. 301 redirecting will flow most of the link juice to your website.

[blake-76624]

Very cool, so will it add link juice if the page has some good juice??

Let's say one site was weighted (for example sake) a 3 and I wanted to 301 redirect it to my now existing site that I use which is weighted a 3 as well, would my site now be weighted at a 6? or is it more like 4 and some change?

Both sites are targeting the same keyword btw.

[EGOL]

$1300 isn't much money.

How much do you think you would make if you rediesigned the site?

We can't give you a good answer with such skimpy information.

Also the decision on the 301 needs more consideration.  You need to think about relative rankings, traffic, unique link sources,  duplicate content issues, keyword reach of the sites.