PROPERTY CALCULATORS

Run the numbers
on your next rental.

Rental Property Investment Calculator

Monthly cash flowCap rateCash-on-cash return

Compare rental income with vacancy, operating expenses, financing, and reserves. Enter the totals for the entire property, including every unit.

Planning estimates, not a guarantee of returns. This is a one-year, before-income-tax model. It excludes appreciation, sale proceeds, tax benefits, and principal paydown from returns. Numbers are processed in this page and are not submitted or saved by the calculator.

1

Purchase & financing

Fixed-rate, fully amortizing financing. Closing costs and initial improvements are paid in cash, not financed.

Enter a lender rate, not APR. Example rates are not current offers.
2

Rental income

Applied to rent plus other income.
3

Operating costs & reserves

Taxes and insurance are annual amounts; other dollar expenses are monthly. Use 0 only for costs that do not apply or to exclude them. Do not include loan payments or count an expense twice.

Percentage of income after vacancy.
Percentage of income after vacancy.
Set aside for major replacements; percentage of income after vacancy.
Owner-paid utilities, lawn care, snow removal, or other costs not entered above.
If required by your lender; not automatically estimated.

Understand the estimates

Cash flow

Income after vacancy minus operating costs, loan payments, mortgage insurance, and capital reserves. A negative result is a monthly funding shortfall.

Cap rate

Annual net operating income divided by purchase price. This shows operating yield before financing; it does not include appreciation or all acquisition costs.

Cash-on-cash return

Annual before-tax cash flow divided by the down payment, upfront closing costs, and initial improvements. Zero cash invested makes this measure undefined.

How costs and reserves are handled

Vacancy reduces rent plus other income. Management, repairs, and capital reserves each use the income remaining after vacancy. Taxes and property insurance are divided by 12. Operating costs include taxes, property insurance, HOA fees, management, repairs, and other entered operating expenses.

Capital reserves are deducted from cash flow, separately from NOI, to avoid treating a savings allowance as a current operating expense. Cash-on-cash return excludes future cash used for actual major repairs beyond this reserve. Initial cash excludes additional operating reserves unless you include them in upfront cash costs. The loan model excludes financed fees, adjustable rates, balloons, and additional payments.

Learn about operating income, debt coverage, and capitalization in the OCC Commercial Real Estate Lending handbook. This calculator’s assumptions are shown above; lender underwriting may differ.