Rental Property Cash Flow Calculator

Free rental property calculator: monthly cash flow, NOI, cap rate and cash-on-cash return from price, loan, rent, vacancy and expenses. No signup.

Want the full spreadsheet? Track rent, expenses by tax category, NOI and cap rate for 1-20 units. Get the Small Landlord Rent & Expense Tracker PRO ($29) · Excel & Google Sheets, no macros.
Not ready? Start with Rental Property Cash Flow Calculator (free) or this calculator as a free .xlsx. See all templates.

Formulas used

Mortgage (principal & interest) = L × r ÷ (1 − (1 + r)⁻ⁿ), where L is the loan, r the monthly rate and n the number of payments.
Effective rent = rent × (1 − vacancy %).
Operating expenses = taxes ÷ 12 + insurance ÷ 12 + (maintenance % + management %) × rent + HOA.
NOI (net operating income) = (effective rent − operating expenses) × 12. NOI excludes the mortgage.
Cap rate = NOI ÷ purchase price. Cash-on-cash return = yearly cash flow after the mortgage ÷ cash invested.

Worked example

A $300,000 house with $60,000 down at 7% for 30 years has a mortgage payment of $1,596.73. Rent of $2,500 with 5% vacancy gives $2,375. Taxes ($300), insurance ($100) and 8% maintenance ($200) total $600 a month. NOI is ($2,375 − $600) × 12 = $21,300, a 7.10% cap rate. After the mortgage, cash flow is $178.27 a month, a 3.57% cash-on-cash return on the $60,000 invested.

Thin cash flow like this is common at today's interest rates. Test a higher down payment, a lower price or a rent increase to see what makes the deal work, then screen tenants with the rent-to-income calculator.

FAQ

What is a good cap rate?

It depends on the market and the risk. Many small investors look for 5–10%. A lower cap rate usually means a pricier, lower-risk area; a higher one often means more vacancy or repair risk.

Should the down payment include closing costs?

Yes. Cash-on-cash return should use all the cash you put in: down payment, closing costs and any upfront repairs.

How much should I budget for maintenance?

A common rule of thumb is 5–10% of rent for maintenance and capital expenses, more for older properties. Track real costs once you own the property.