Enter a property's purchase price, financing terms, rental income and operating expenses to get the four numbers real estate investors actually use to judge a deal: monthly cash flow, cash-on-cash return, cap rate, and NOI — plus a simple 5-year projection. Educational estimate only, not investment advice.
Set down payment to 100% to model an all-cash purchase (no mortgage payment).
This tool runs the standard formulas real estate investors and lenders use to evaluate a rental property, entirely in your browser. Nothing you type is uploaded anywhere — see the privacy policy.
If you finance the purchase, the monthly principal & interest payment uses the standard amortization formula: M = P × [r(1+r)n] / [(1+r)n − 1], where P is your loan principal (price minus down payment), r is the monthly interest rate (annual rate ÷ 12), and n is the total number of monthly payments (loan term in years × 12). Set the down payment to 100% to model an all-cash deal — the mortgage payment then drops to $0 and only your operating expenses count against rent.
Cash flow is simply what's left after every monthly outflow: monthly rent − (mortgage payment + property tax + insurance + HOA + maintenance + vacancy + property management + other). Maintenance, vacancy and property management are entered as percentages of rent because that's how most investors and property managers budget them — a 5% vacancy allowance, for example, assumes the unit sits empty roughly one month every twenty.
These two percentages get confused constantly, and they answer genuinely different questions:
A highly leveraged deal (small down payment) can show a strong cash-on-cash return with mediocre cash flow, while an all-cash purchase of the same property shows a cash-on-cash return that's mathematically closer to its cap rate (since there's no mortgage payment eating into cash flow, and cash invested is just the price plus costs). Neither number is "more correct" — they measure different things, which is why this calculator shows both side by side instead of picking one as "the" ROI.
NOI = annual rental income − annual operating expenses, where operating expenses specifically exclude mortgage principal, interest, and any income taxes. It represents the property's own earning power independent of how it's financed, which is why it's the numerator for cap rate.
The projection table grows both rent and expenses by the same annual percentage you set (3% by default, a common long-run US rent-growth assumption — adjust it for your own market), while holding the mortgage payment fixed since a standard fixed-rate loan doesn't change. It's a simple straight-line model for directional planning, not a substitute for a full underwriting spreadsheet that accounts for lease-up timing, capital expenditures, refinancing, or appreciation.
Use "Save this scenario" to store a property's inputs and results in this browser (via localStorage — nothing leaves your device, and nothing syncs to other browsers or devices). The free plan keeps one saved scenario at a time so you can swap between deals; a one-time $7.99 Pro upgrade (click "Go Pro" above) lets you save and compare unlimited properties side by side and export a clean print/PDF report of your results.
This is an educational estimate, not financial or investment advice. Verify all numbers independently before making an investment decision.
The free plan keeps one saved scenario at a time so you can compare deals one at a time. Pro removes that limit:
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