Calculators → Rental property
Most free calculators stop at a cap rate. This one runs the whole thing: a unit mix with real vacancy and bad debt, an itemised operating budget, amortising debt with an interest-only period, and a sale at an exit cap — so you get a levered IRR, not just a yield.
The full Rental Deal Analyzer reads the OM, rent roll or T-12 and fills all of this in for you, then adds renovation cohorts, a refinance, market rent comps, a multi-tier waterfall and an investor pitch deck.
Open the full model freeNo credit card. One saved project on the free plan.
A going-in cap rate is one year of income over the price. It ignores your debt, your hold period, where rents go and what you sell for. Two deals at the same cap rate can return wildly different amounts to an investor, which is why this calculator carries on past it.
Debt service coverage is NOI divided by annual debt service. Below about 1.20× most lenders will not quote, and a deal that only works at 1.05× has no room for a bad year. Note what happens when the interest-only period ends: DSCR falls the moment amortisation starts, and plenty of deals that look fine in year one fail in year three.
It is the occupancy at which the property covers its operating costs and its debt service and nothing more. Under 75% is comfortable; over 85% means a soft leasing quarter puts you into your own pocket.
The multiplier here divides the price by gross scheduled income — rent plus other income — which makes it a GIM. The textbook GRM uses rent alone and will read slightly higher. If you are comparing against a broker’s quoted GRM, check which one they mean before concluding anything; the two are routinely used interchangeably and they are not the same number.
This is a calculation tool, not advice. Every result depends entirely on the assumptions you enter — verify them before acting on a deal.