Net Operating Income (NOI) Calculator

Your details

Total scheduled rent from all units for one full year, assuming 100% occupancy.
Parking fees, laundry, storage, late fees, or any other income from the property.
Expected percentage of gross rent lost to vacancies and uncollected rent. National average is roughly 5-8%.
%
Annual property tax assessed by the local municipality.
Property and liability insurance premiums for the year.
Annual cost of a professional property manager, typically 8-12% of collected rents.
Routine upkeep: landscaping, cleaning, pest control, and minor repairs.
Reactive repairs to appliances, plumbing, HVAC, and other systems.
Utilities paid by the owner, advertising, accounting, HOA dues, or any other recurring expense.
Current market value or purchase price. Leave at 0 to skip the cap rate calculation.
Currency
Net Operating Income (NOI)Typical cap rate
$24,840

Effective gross income minus total operating expenses

Potential gross income$37,200
Vacancy loss$1,800
Effective gross income$35,400
Total operating expenses$10,560
Expense ratio29.8%
Cap rate6.21%
Effective Gross Income$35,400
Operating Expenses$10,560
NOI$24,840

Annual NOI is $24,840.

  • The property generates 70.2% of its effective gross income as NOI.
  • Your expense ratio is 29.8%, within the generally accepted 40-50% range for rental properties.
  • The cap rate of 6.21% falls in the typical 4-8% range investors often target for stabilized properties.

Next stepNOI excludes mortgage payments, depreciation, and income taxes. Subtract annual debt service from NOI to find pre-tax cash flow, then divide by your equity invested to get cash-on-cash return.

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