Cap rate & cash-on-cash calculator

What the numbers mean

Cap rate = NOI ÷ purchase price. It describes the property's return before financing, which makes it handy for comparing properties.

Cash-on-cash return = annual cash flow after the mortgage ÷ cash you put in (down payment + closing costs + up-front repairs). It describes the return on your own money in year one, before appreciation, principal paydown and taxes.

Gross rent multiplier = price ÷ annual gross rent. Lower means more rent per dollar of price.

Estimates for planning only, based on what you enter. Not financial or tax advice. All calculations run in your browser and nothing is stored or sent.

Want to track the real numbers all year? See the US or Canadian bookkeeping spreadsheet.