Sheet & Flow
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Free Rental Property Calculator

Cash flow, NOI, cap rate, cash-on-cash, DSCR, GRM, 1% rule and break-even occupancy. It runs in your browser; nothing is sent anywhere.

Prefer a spreadsheet? Download this calculator free for Excel and Google Sheets (same formulas; enter $0 on Gumroad).

How the numbers are calculated

  • NOI = rent × 12 − vacancy − operating expenses (taxes, insurance, HOA, utilities, repairs, CapEx, management). NOI leaves out the mortgage.
  • Cap rate = NOI ÷ purchase price. Cash-on-cash = annual cash flow ÷ cash invested (down payment + closing + repairs).
  • DSCR = NOI ÷ annual mortgage payments. Lenders usually want 1.20–1.25 or more.
  • Break-even occupancy = (operating expenses + mortgage) ÷ gross scheduled income.
  • Repairs and CapEx are a % of scheduled rent; management is a % of collected income. These are the same formulas as the Rental Deal Analyzer spreadsheet, and they're unit-tested against it.

Full walkthrough: Cap rate vs cash-on-cash vs DSCR, with a worked example.

For education, not financial advice. Check the numbers with your lender and accountant.