Rental property calculator

FREE TOOL

Price, rent, costs and the loan in; cash flow, cap rate, cash on cash and DSCR out. The rehab gets a contingency, because something always turns up once the walls are open.

The property

Purchase price ($)

Closing costs ($)

Rehab budget ($)

Rehab contingency (%)

For what shows up when the walls open: foundation, roof, plumbing, wiring, termites. Raise it for older houses.

Rent per month, all units ($)

Units

Vacancy (%)

Value after the rehab, ARV ($)

What it should appraise for once the work is done: sold comps of fixed up homes nearby. No rehab? Use the price.

Costs

Taxes based on

Texas appraisal districts set the value every January 1; after a sale or a rehab it can climb to the price or the after rehab value. The seller's homestead exemption and cap end when you buy.

Property tax rate, all taxing units (%)

County, city, school district and the rest, added up. The appraisal district or tax office site lists them.

Insurance per $1,000 of ARV ($)

A stand in until you have a quote. Insurers price on the cost to rebuild, the roof, and the wind and flood zone.

Insurance quote per year ($, blank = use the rate)

Yearly premium from a landlord (dwelling) policy quote for this address. It replaces the rate.

HOA per month ($)

Management (% of rent collected)

Maintenance and capex reserve (% of rent)

Utilities you pay per month ($)

Financing

Cash or loan

Down payment (%)

Interest rate (%)

Loan term (years)

Loan costs ($)

Your minimums

Cash flow per unit, monthly ($)

Cash on cash (%)

DSCR

Cap rate (%)

Verdict

GREEN

Meets all your minimums.

Monthly cash flow

$792

Cash flow per unit: $396
Cash on cash return: 11%
DSCR (NOI ÷ loan payment): 2.11
Cap rate on total cost: 9.6%
Cash needed to buy and rehab: $86,406
Monthly loan payment: $716
Net operating income (NOI) per month: $1,508
Rehab total with contingency: $44,706
Property taxes per year: $3,360
Insurance per year: $1,680

GREEN: meets all your minimums. YELLOW: misses one and still cash flows. RED: loses money each month, or misses two or more.

Estimate only. It doesn't know the property, your market or your lender. Check results before an offer, contract or purchase.

Your numbers, calculated in your browser. Nothing is saved or sent.

The full workbook adds BRRRR refinance, rehab by area with a behind the walls checklist, hard money and HELOC, a 10-year projection and a lender summary. See the Rental & BRRRR Analyzer →

Download this calculator as Excel (free) ↓

How the math works

These are the definitions the calculator uses, the same ones as the free Excel file.

Collected rent = rent × (1 − vacancy)
Operating costs = (property taxes + insurance) ÷ 12 + HOA + management + maintenance and capex reserve + utilities you pay
NOI = collected rent − operating costs
Cash flow = NOI − loan payment
Cap rate = NOI × 12 ÷ (price + closing costs + rehab with contingency)
Cash on cash = cash flow × 12 ÷ cash needed
DSCR = NOI ÷ loan payment

Management is a percentage of the rent you collect. The maintenance and capex reserve is a percentage of the full rent. Cash needed is the price, closing costs and rehab with contingency, minus the loan, plus the loan costs. The loan payment is a fixed rate payment on the price minus the down payment.

The verdict checks four of your minimums: cash flow per unit, cash on cash, DSCR and cap rate.