Complete guide
Rental property calculator for cash flow, equity and sale
Enter price, financing, rent, vacancy, operating expenses and holding assumptions. Calculator24 produces annual cash flow, loan balance, property value, equity and estimated sale proceeds.
Rental property cash flow
Scheduled rent is reduced by vacancy, then operating expenses and debt service are subtracted. Principal paid is financing cash flow, not an operating expense.
NOI and cap rate
Net operating income excludes mortgage payments. Cap rate divides first-year NOI by purchase price.
NOI=collected rent−operating expensescap rate=NOI/purchase priceMortgage and equity
Each monthly mortgage payment is split between interest and principal. Equity grows when the balance falls or the modeled property value rises.
Sale scenario
At the holding period, estimated selling costs and remaining loan balance are subtracted from the modeled property value. Taxes and depreciation recapture are outside this calculator.
Tax and expense limits
IRS Publication 527 lists expenses such as maintenance, insurance, taxes, interest and management fees, while improvements and depreciation follow separate rules. Use a tax professional for a return.
Core rental measures
| Measure | Includes debt service? |
|---|---|
| NOI | No |
| Cap rate | No |
| Cash flow | Yes |
| Equity | Loan balance |
Frequently asked questions
Does operating expense include the mortgage?
No. Enter property operating costs; mortgage payments are calculated separately.
Is depreciation included?
No. Tax depreciation depends on basis, allocation and applicable rules.
What does vacancy mean?
It is the share of scheduled rent assumed uncollected.
Does appreciation guarantee a sale price?
No. It is a scenario and property values can fall.
Are closing costs included?
Selling costs are included; purchase closing costs are not.
What to keep in mind
Excludes income tax, depreciation, closing costs, capital improvements and irregular repairs unless included in expenses.
Results display up to 8 decimal places; exported numbers preserve calculation precision. This is a calculation summary, not an official certificate.