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For Investors
Real Estate Investment Calculator.
Quickly analyze the income, operating expenses, NOI, cap rate, financing, and estimated cash flow of an investment property.
Enter the property's purchase price, expected rent, expenses, and financing information below.
Important
Keep property operating performance and financing separate.
NOI and Cap Rate must be calculated BEFORE mortgage/debt-service expenses.
The Calculator
Run your own numbers, live
Every result updates the moment you change an input. There is no calculate button, no page reload, and nothing is sent anywhere. All math runs in your browser. Designed for single-family rentals, condos, townhomes, multifamily properties and student housing.
Property & Purchase
Section 1
Total acquisition cost
$408,000
Purchase + closing + renovations + other initial costs
Rental Income
Section 2
Gross rental income
Monthly
$3,200
Annual
$38,400
Total monthly gross income
$3,200
Total annual gross income
$38,400
Vacancy
Section 3
Annual gross income
$38,400
Vacancy allowance
-$1,920
Effective gross income
$36,480
Operating Expenses
Section 4
Property management
Repairs & maintenance
Capital expenditure reserve
Utilities paid by owner
Other expenses
Operating Expense Summary
Section 5
Property management
$2,918
Property taxes
$3,600
Insurance
$1,800
HOA
$0
Maintenance
$1,920
CapEx reserve
$1,920
Utilities
$0
Other expenses
$0
Total operating expenses
$12,158
Operating expense ratio
33.33%
Net Operating Income
Section 6
Effective gross income
$36,480
Operating expenses
-$10,358
Net operating income (NOI)
$24,322
Important: mortgage payments and financing expenses must NOT be deducted when calculating NOI.
Cap Rate
Section 7
Cap rate
6.08%
NOI ÷ purchase price
Cap rate on total acquisition cost
5.96%
NOI ÷ total acquisition cost
Cap rate measures the property's operating return before financing and is calculated using the property's Net Operating Income divided by the purchase price.
Purchase Method
Section 8
Purchase price
$400,000
Cash investment (purchase + closing + renovation + initial costs)
$408,000
Annual NOI
$24,322
Annual cash flow before tax
$24,322
Cash-on-cash return
5.96%
For an all-cash purchase, annual cash flow before tax equals NOI. Cash-on-cash equals NOI divided by total cash invested.
Financing
Section 9
Edit either the percentage or the dollar amount. They stay in sync automatically.
Loan amount
$320,000
Purchase price minus down payment
Monthly principal & interest
$2,129
Annual debt service
$25,547
Interest Rate Scenarios
Section 10
See how the investment performs if your rate moves. The entered rate is highlighted as the base scenario.
| Rate | Monthly payment | Annual debt service | Monthly cash flow | Annual cash flow | Cash-on-cash |
|---|---|---|---|---|---|
| 6.00% | $1,919 | $23,030 | $108 | $1,292 | 1.47% |
| 6.50% | $2,023 | $24,276 | $4 | $46 | 0.05% |
| 7.00%Base scenario | $2,129 | $25,547 | -$102 | -$1,225 | -1.39% |
| 7.50% | $2,237 | $26,844 | -$210 | -$2,522 | -2.87% |
| 8.00% | $2,348 | $28,176 | -$318 | -$3,854 | -4.38% |
Financed Cash Flow
Section 11
Monthly mortgage payment
$2,129
Annual debt service
$25,549
Annual NOI
$26,122
Annual cash flow before tax
-$1,225
Monthly cash flow
-$102
Cash-on-Cash Return
Section 12
Total cash invested
$88,000
Annual cash flow
-$1,225
Cash-on-cash return
-1.39%
Initial cash investment: down payment + closing costs + renovations + other initial costs.
Visual Profit Breakdown
Where the rental income goes
Gross rental income
$38,400
Vacancy
-$1,920
Operating expenses
-$10,358
NOI
$26,122
Debt service
-$25,549
Cash flow before tax
-$1,225
Gross income, then operating expenses, then NOI, then mortgage / debt service, then the cash flow you actually keep.
Optional Investor Metrics
Extra reads on the same deal
GRM, gross rent multiplier
10.42
Purchase price ÷ annual gross rental income
Debt service coverage ratio
0.95
NOI ÷ annual debt service
Break-even occupancy
98.19%
Occupancy needed to cover operating expenses and debt service
Property Investment Summary
The property
Purchase price
$400,000
Total acquisition cost
$408,000
Monthly gross income
$3,200
Annual gross income
$38,400
Effective gross income
$36,480
Annual operating expenses
$12,158
Net operating income (NOI)
$24,322
Cap rate
6.08%
Financing
Down payment
$80,000
Loan amount
$320,000
Interest rate
7.00%
Monthly mortgage payment
$2,129
Annual debt service
$25,547
Cash flow
Monthly cash flow before tax
-$102
Annual cash flow before tax
-$1,225
Cash-on-cash return
-1.39%
Disclaimer
Investment calculations are estimates provided for informational and educational purposes only. Actual income, expenses, financing terms, taxes, insurance, vacancy, maintenance costs, and investment returns may vary. Investors should independently verify all financial information and consult appropriate financial, tax, lending, and legal professionals before making an investment decision.
Considering an investment property in Georgia?
Rob Dietrich can help evaluate the property, rental income, comparable sales, operating assumptions, and investment potential before you make an offer.
Rob Dietrich, REALTOR®
eXp Realty
AI Certified Real Estate Strategist