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Rental Property Calculator

See how rent, operating expenses, and your financing assumptions combine into cash flow and return metrics.

Purchase & financing

$
%
%

Your own assumption — not a quoted rate.

years
$

Cash paid at purchase beyond the down payment.

$
$

Income

$
% rent

Operating (cash) expenses

$
$
% rent
% coll.
$

HOA, utilities, lawn care, etc. Don't repeat maintenance or CapEx here.

Reserves & goal

% rent

Roof, HVAC, appliances. Deducted from cash flow, not NOI.

$

Finds the max price that hits this goal.

Results

Enter purchase price, down payment, monthly rent, and — if financing — interest rate and loan term to see results. Results update as you type.

Exploring financing for a rental?

Have your numbers? You can explore rental financing options with our referral partner, All Ways Capital LLC. Get REI Loan is operated by Seal TC, LLC, an independent referral and education site — not a direct lender.

Get REI Loan may earn compensation for referrals. All Ways Capital LLC independently determines eligibility, terms, and approval. Get REI Loan is not a lender or broker and does not approve, originate, negotiate, or guarantee financing.

Calculation assumptions

  • Effective income = rent − vacancy (rent × vacancy %).
  • Cash operating expenses = taxes ÷ 12 + insurance ÷ 12 + maintenance (rent × %) + management (effective income × %) + other.
  • NOI = effective income − operating expenses. NOI excludes mortgage payments and the CapEx reserve.
  • Taxes and insurance are entered as annual amounts and divided by 12.
  • Financing cost = standard fully amortizing principal & interest payment on (price − down payment).
  • Cash flow = NOI − CapEx reserve − principal & interest.
  • Cap rate = annual NOI ÷ purchase price (not total cost). Cash-on-cash = annual cash flow ÷ (down payment + closing + renovation + reserves).
  • DSCR = annual NOI ÷ annual principal & interest; N/A with no loan. Lenders may use different income and expense rules.
  • Max price for target: solved exactly by reversing the loan payment formula, holding all other dollar amounts fixed.
  • Rates and terms are your own assumptions, not quotes. Excludes income taxes, depreciation, appreciation, and PMI.

About the Rental Property Calculator

This free calculator shows how a rental property's rent, operating costs, and loan payment add up to monthly cash flow and common return measures. Enter the price, your down payment, your own interest-rate and loan-term assumptions, the expected rent, and your expenses. You'll see net operating income (NOI), cap rate, cash-on-cash return, and debt service coverage ratio (DSCR). You can also find the most you could pay and still reach a target cash flow.

Operating expenses like taxes, insurance, and repairs are kept separate from financing costs (your mortgage payment), so NOI and cash flow are never mixed up. Everything is calculated in your browser, and nothing you type is saved or sent anywhere. Results are educational estimates, not lending advice or a loan quote.

Hypothetical example

A $250,000 single-family rental renting for $2,200/month

Sample inputs

Purchase price
$250,000
Down payment
25%
Interest rate (assumed)
7%
Loan term
30 years
Closing costs
$6,000
Monthly rent
$2,200
Property taxes / insurance (annual)
$3,000 / $1,500
Vacancy / maintenance / CapEx
5% / 5% / 5% of rent
Property management
8% of collected rent

Calculator results

Loan amount
$187,500
Monthly principal & interest
$1,247
NOI (annual)
$17,254
Monthly cash flow
$80
Annual cash flow
$964
Cap rate
6.90%
Cash-on-cash return
1.41%
DSCR
1.15x

Made-up numbers chosen to show how the math works. The 7% rate and 30-year term are sample assumptions, not a quote or terms from any lender. Real rates, terms, and eligibility come only from a lender.

How the calculation works

  1. Effective income = monthly rent − vacancy allowance (rent × vacancy %).
  2. Operating expenses = taxes ÷ 12 + insurance ÷ 12 + maintenance (rent × %) + management (effective income × %) + other monthly costs.
  3. NOI = effective income − operating expenses. NOI leaves out the mortgage payment and the CapEx reserve.
  4. Loan payment = a standard fully amortizing principal-and-interest payment on (price − down payment).
  5. Cash flow = NOI − CapEx reserve − principal and interest.
  6. Cap rate = annual NOI ÷ purchase price. Cash-on-cash return = annual cash flow ÷ cash invested (down payment + closing + renovation + reserves).
  7. DSCR = annual NOI ÷ annual principal and interest. It shows N/A for an all-cash purchase.

Frequently asked questions

What's the difference between NOI and cash flow?
NOI is the income left after operating expenses, before any mortgage payment. Cash flow subtracts the mortgage payment and your CapEx reserve from NOI. Two investors can have the same NOI on a property but very different cash flow, depending on how they finance it.
What is a good cap rate?
There isn't one number that fits everyone. Cap rates vary by market, property type, and condition, and investors weigh them against risk and growth. Use cap rate to compare properties with each other rather than as a pass/fail test.
How is cash-on-cash return different from cap rate?
Cap rate ignores financing and compares NOI with the purchase price. Cash-on-cash compares your actual yearly cash flow with the cash you put in, so it changes with your down payment and loan payment.
What is DSCR, and why do lenders look at it?
DSCR compares NOI with the yearly loan payment. A DSCR above 1.0 means the property's income covers its payment. Some rental loans, often called DSCR loans, focus on this ratio. Each lender calculates it its own way and sets its own requirements, so this calculator's figure is only an estimate. Learn more on our Financing Resources page.
Why set aside money for vacancy, maintenance, and CapEx?
Rentals don't collect rent every month, and things break. Vacancy and maintenance allowances cover routine gaps and repairs. CapEx reserves save up for big replacements like a roof or HVAC system. Leaving them out can make a deal look better than it is.
Does the calculator include taxes, depreciation, or appreciation?
No. It excludes income taxes, depreciation, appreciation, and mortgage insurance. Talk to a tax professional about those.

Focused on monthly income? Read our rental property cash flow calculator breakdown for inputs, NOI versus cash flow, and a worked example.

Related Investor Guides

Javier MarinFounder | Investor Financing Resource Partner