Free Underwriting Tool

Rental Property Calculator

Model cash flow, cap rate, and cash-on-cash returns. Account for debt service, management fees, and maintenance reserves before you make an offer.

Rental Property Cash Flow Engine

Underwrite revenue, debt service, and realistic operating reserves

Purchase & Financing

$
%
%

Rental Income & Fixed Expenses

$
$
$
$

Operating Reserves (% of Monthly Rent)

%
%
%
%
Monthly Net Cash Flow
-$115/month
Cap Rate
5.99%
Cash-on-Cash
-1.72%
Monthly NOI:$1,748/mo
Monthly Mortgage (P&I):$1,863/mo
Initial Cash Required:$80,500
Search Cash-Flowing Deals

Rental Property Underwriting Metrics

Net Operating Income (NOI)
Gross Rent − Operating Expenses

Income generated by property operations before deducting mortgage debt service or income tax depreciation.

Cap Rate
(Annual NOI ÷ Purchase Price) × 100

Measures property yield independent of financing structure. Useful for comparing deals across different debt options.

Cash-on-Cash Return
(Annual Net Cash Flow ÷ Cash Invested) × 100

Your true return on equity invested (Down payment + Closing costs). Accounts for leverage amplification.

Haven Underwriting Methodology

Eliminating Artificial Fluff

Unlike traditional listings that assume 0% vacancy and 0% management, Haven automatically builds in defensible reserves based on local property data.

Read Methodology
Related Financial Tools

Screen Commercial Lending & ROI

DSCR Loan Calculator →Cap Rate Calculator →Cash-on-Cash Return Calculator →
All Investment Tools

Frequently Asked Questions

How do you calculate monthly cash flow on a rental property?

Monthly Cash Flow = Net Operating Income (NOI) − Monthly Mortgage Payment (P&I). NOI is calculated by taking gross monthly rent and deducting operating expenses such as taxes, insurance, HOA, property management, maintenance, vacancy, and CapEx reserves.

What is the difference between Cap Rate and Cash-on-Cash Return?

Cap Rate measures the property's unleveraged return based on purchase price (NOI ÷ Purchase Price). Cash-on-Cash Return measures the leveraged return on the actual out-of-pocket cash you invested (Annual Net Cash Flow ÷ Total Cash Invested including down payment and closing costs).

How much should I budget for maintenance and CapEx?

For single-family rentals in good condition, standard industry benchmarks allocate 5% of monthly rent for routine maintenance and 5% for long-term capital expenditures (roof, HVAC, water heater). Older homes built before 1980 often require 8–10% each.

What is a good cash-on-cash return for rental property in 2026?

In today's interest rate environment (6.5%–7.5%), investors typically target an 8% to 12% cash-on-cash return in cash-flowing secondary markets (such as Cleveland, Indianapolis, or Memphis), and 4% to 7% in high-appreciation coastal markets.

Find Profitable Rental Properties

Search active US properties with real gross yields, calculated cap rates, and Haven investment scores.

Explore Live Properties