Rental Property Calculator

Estimate mortgage payment, monthly cash flow, annual cash flow, NOI, cap rate, and cash-on-cash return for a rental property deal.

How to Use

  1. Enter the property purchase details and financing terms.
  2. Add rent, other income, vacancy, and monthly operating expenses.
  3. Review the live deal summary for cash flow, NOI, cap rate, and cash-on-cash return.
  4. Open “Show Work” to see the formulas and step-by-step calculation details.
Deal Snapshot
Live summary based on your purchase, income, financing, and expenses.
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Monthly Cash Flow
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Annual NOI
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Cap Rate
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Cash-on-Cash
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Quick Breakdown

Purchase Price
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Loan Amount
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Monthly Rent
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Mortgage Payment
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Total Monthly Expenses
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Total Cash Invested
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Enter deal details below. Results update instantly in the browser.
Inputs & Settings
Use realistic purchase, financing, rent, and expense values for a cleaner estimate.
Purchase & Financing
Total agreed purchase price of the property.
Choose percent or exact dollar amount.
Annual mortgage interest rate.
Common terms: 15, 20, or 30 years.
Upfront closing costs paid at purchase.
Initial repairs, updates, or setup costs before renting.
Income
Base monthly rent from the tenant.
Parking, laundry, pet rent, storage, or other income.
Percent of gross monthly income lost to vacancy.
Monthly Expenses
Monthly portion of annual property taxes.
Landlord insurance or hazard insurance.
Association fees, condo fees, or similar recurring charges.
Routine repairs and ongoing maintenance budget.
Reserve for roof, HVAC, appliances, flooring, and other big-ticket items.
Use percent of collected rent or a flat monthly amount.
Utilities paid by the owner.
Any other recurring operating costs.
Optional Assumptions
Optional annual appreciation estimate.
Optional sale cost estimate for exit planning.
Show Work (step-by-step)
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Work should show the exact formulas used for loan amount, mortgage payment, vacancy adjustment, operating expenses, NOI, cap rate, and cash-on-cash return.

Rental Property Formulas

Quick answer: Rental property analysis usually starts with income, expenses, financing, and cash invested.

These are the core formulas typically used by the calculator.

  • Loan Amount: Purchase Price − Down Payment
  • Gross Monthly Income: Rent + Other Income
  • Vacancy Loss: Gross Monthly Income × Vacancy Rate
  • Effective Monthly Income: Gross Monthly Income − Vacancy Loss
  • Monthly Cash Flow: Effective Monthly Income − Operating Expenses − Mortgage Payment
  • Annual NOI: (Effective Monthly Income − Operating Expenses) × 12
  • Cap Rate: Annual NOI ÷ Purchase Price
  • Cash-on-Cash Return: Annual Cash Flow ÷ Total Cash Invested
  • Total Cash Invested: Down Payment + Closing Costs + Rehab Costs
Results depend on your inputs and assumptions. Real-world ownership costs can vary by market, financing, taxes, vacancy, repairs, and management.

FAQ

What is NOI?

NOI means net operating income. It usually includes rental income minus operating expenses, but it does not include mortgage principal and interest.

What is cap rate?

Cap rate is annual NOI divided by purchase price. It helps compare property performance without financing effects.

What is cash-on-cash return?

Cash-on-cash return compares your annual pre-tax cash flow to the total cash you put into the deal upfront.

Should I include vacancy and maintenance?

Yes. Ignoring vacancy, repairs, CapEx, or management can make a property look better on paper than it performs in reality.

Tool Info

Last updated:

Updates may include UI improvements, input handling, formula transparency, and calculation edge-case handling.