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Real Estate & PropertyNOI & Net Cash Flow

Rental Property Cash Flow Calculator

Calculate monthly and annual net rental cash flow, Effective Gross Income (EGI), and Net Operating Income (NOI) after vacancy, taxes, insurance, maintenance, management, HOA, and mortgage debt.

Monthly Rental Income & Expenses

Net Cash Flow Analysis
Monthly Net Cash Flow
$403.75

Annual Net Cash Flow: $4,845.00/yr

Effective Gross Monthly Income$2,778.75
Operating Expenses (Excl. Debt)$925.00/mo
Monthly Net Operating Income (NOI)$1,853.75/mo
Monthly Debt Service (P&I)$1,450.00/mo

Rental Property Cash Flow & NOI Formula

NOI = Effective Gross Income โˆ’ Operating Expenses (Excl. Debt) | Net Cash Flow = NOI โˆ’ Mortgage Debt Service
  • Effective Gross Income (EGI) = (Monthly Rent + Other Income) ร— (1 โˆ’ Vacancy Allowance %).
  • Operating Expenses = Property Taxes + Insurance + Maintenance/CapEx + Property Management + HOA + Other Recurring Expenses.
  • Monthly Net Cash Flow = Monthly NOI โˆ’ Monthly Mortgage Principal & Interest.

Step-by-Step Worked Example

Scenario: Analyzing a single-family rental earning $2,850/mo rent + $75/mo pet fee with 5% vacancy, $925/mo operating expenses, and a $1,450/mo mortgage payment

Calculation Steps:

  1. Monthly Net Operating Income (NOI) = $2,778.75 โˆ’ $925.00 = $1,853.75/mo ($22,245/yr)
  2. Monthly Net Cash Flow = $1,853.75 โˆ’ $1,450.00 = $403.75/mo
  3. Annual Net Cash Flow = $403.75 ร— 12 = $4,845.00/yr
Result: The property generates $1,853.75/month in NOI and $403.75/month ($4,845.00/year) in net pre-tax cash flow.

How to Use This Calculator

  1. 1Enter monthly rental income, any other monthly property income, and your vacancy allowance percentage.
  2. 2Enter your monthly mortgage Principal & Interest (P&I) payment (enter $0 if purchasing all-cash).
  3. 3Enter monthly amounts for property taxes, landlord insurance, maintenance/CapEx reserves, property management fees, HOA dues, and other expenses.

Assumptions & Limitations

  • Separates Net Operating Income (NOI, before debt service) from Net Cash Flow (after mortgage debt service) in accordance with standard real estate underwriting.
  • All expense inputs are monthly equivalents.

Frequently Asked Questions

Why is mortgage payment excluded from Net Operating Income (NOI)?

Net Operating Income (NOI) measures the pure operating profitability of the real estate asset itself, regardless of how it is financed. Mortgage principal and interest are subtracted after NOI to determine your leveraged Net Cash Flow.

Should I budget for Property Management if I self-manage?

Many disciplined investors still include an 8%โ€“10% management fee in their underwriting so the property remains cash-flow positive if they later hand it off to a professional manager.

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