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NOI Calculator

Calculate Net Operating Income, expense ratio, and cap rate for a rental property.

Income

$
Laundry, parking, storage, late fees, etc.
$
Percentage of income lost to vacancies and credit losses. Typical: 5-8%.
%
For multi-family properties. Enter 1 for single-family.

Expenses

Typical expense ratio is often 30%-50% for residential rentals.
%

Typical expense ratio: 30%-50%.

Cap Rate (Optional)

Enter to calculate cap rate.
$

Ready to Analyze

Enter rental income and expenses to calculate your NOI.

NOI
Expense Ratio
Cap Rate

Why Use This Calculator

Calculate annual and monthly NOI from rental income and operating expenses with ratio or detailed expense modes. Use this as a decision tool, then compare assumptions to real operating data over time.

Track NOI monthly, not just at underwriting time.

Use Abode to monitor real income and expense variance by property and preserve NOI targets.

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Frequently Asked Questions

What is included in NOI?

NOI is effective gross income minus operating expenses. Financing and taxes are excluded from NOI.

Can I calculate cap rate here?

Yes. Enter property value to compute cap rate from NOI.

Should I use ratio mode or detailed mode?

Detailed mode is better for final underwriting. Ratio mode is useful for fast screening.

Key Terms (Plain English)

Effective Gross Income (EGI)

Gross scheduled rent plus other income minus vacancy loss.

Example: EGI is the income available before operating expenses.

NOI

Net operating income: EGI minus operating expenses.

Example: NOI excludes financing, principal paydown, and income taxes.

Expense Ratio

Operating expenses as a percent of effective gross income.

Example: A 40% ratio means $0.40 of each $1.00 of EGI goes to operating expenses.