Use this free rental property calculator to estimate mortgage payment, vacancy reserve, operating expenses, monthly cash flow, NOI, cap rate, and cash-on-cash return.
$225,000 loan, rent less operating costs
This does not include depreciation, income tax, passive-loss rules, capex timing, rent control, tenant quality, or lender rental-income worksheets.
Screen whether monthly rent covers estimated costs.
Estimate cap rate before financing effects.
Estimate cash-on-cash return after mortgage payment.
Compare vacancy, maintenance, tax, insurance, and expense assumptions.
$129.35 monthly shortfall, 5.32% cap rate
$189.58 monthly shortfall, 4.65% cap rate
$552.08 monthly cash flow, 7.50% cap rate
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Plain-language answers about when to use the estimate, what your numbers mean, what is left out, and how privacy works.
Use it when you want to test the exact inputs on this page: Screen whether monthly rent covers estimated costs. Estimate cap rate before financing effects. The result is a check against your assumptions, not proof that a lender, tax app, broker, platform, or provider will use the same number.
Property price means the purchase price used for cap rate, loan amount, and maintenance reserve math. Down payment and closing costs means the cash invested before the property starts producing income. Monthly rent means expected rent before vacancy, repairs, taxes, insurance, and loan payment. Vacancy reserve means a simple rent haircut for empty months, late turnover, or rent that does not arrive on schedule. Operating expenses means monthly non-loan costs such as management, HOA, utilities paid by the owner, routine repairs, or service contracts.
No. NOI is rent minus vacancy and operating expenses before the loan payment. Cash flow is what is left after the estimated mortgage payment too.
No. IRS rental rules can include income, expenses, depreciation, passive-loss limits, personal-use rules, and recordkeeping. This page only screens the deal math.
No. Lenders use their own rental income rules, leases, history, appraisals, vacancy factors, and underwriting worksheets. Use this as a first-pass check only.
In plain language: The calculator subtracts vacancy reserve, taxes, insurance, maintenance reserve, and operating expenses from rent for NOI. It then subtracts the mortgage payment for cash flow and compares NOI and cash flow with property price and cash invested. For the default example: $2,400 rent - $120 vacancy - $260 operating costs - $300 property tax - $140 insurance - $250 maintenance reserve = $1,330 monthly NOI. The estimated mortgage payment is $1,459.35, so monthly cash flow is a $129.35 shortfall.
Monthly cash flow is the after-loan result. Monthly NOI shows the property before financing. Cap rate compares annual NOI with purchase price. Cash-on-cash return compares annual cash flow with down payment plus closing costs.
This is a screening estimate, not a tax return, lender worksheet, appraisal, or full underwriting model. It does not include depreciation, income tax, passive-loss rules, capex timing, rent control, tenant risk, property management contracts, refinancing, local landlord rules, or sale taxes. Use a tax pro, lender, property manager, lease data, inspection report, and local landlord rules before buying or financing a rental property. This calculator is for fast screening, not a final investment decision.
Check rent comps, property taxes, insurance quotes, HOA rules, management fees, repair history, capex needs, local rental rules, vacancy risk, and the written loan estimate before trusting a deal.
No. The calculator runs in your browser tab. Recent answers stay only on the page while you use it, and they are not sent to a server.