Calculators
NOI Calculator
Calculate a property's net operating income from every income and expense line, with vacancy and the expense ratio.
- Runs in your browser
- Nothing uploaded
The tool
Enter your numbers below. Results update as you type, and nothing leaves your browser.
Everything you enter stays on your own machine. Nothing is sent to us or to anyone else, which you can confirm in your browser network tab.
What people use it for
- Valuing a rental property
- Preparing a loan application
- Annual property reviews
- Comparing management options
About this tool
What the NOI Calculator does
Net operating income (NOI) is all income a property produces minus the costs of operating it, before mortgage payments, depreciation and income tax. It is the starting point for cap rates, valuations and lending decisions, so each line deserves care.
It also works as a net operating income calculator.
Formula
- Gross income = sum of income lines
- Effective gross income = gross × (1 − vacancy)
- NOI = effective gross income − operating expenses
Worked example
Using the starting values in the calculator above:
| Input | Value |
|---|---|
| Annual income | 3 entries |
| Vacancy and credit loss | 5% |
| Annual operating expenses | 6 entries |
| Result | Value |
|---|---|
| Net operating income | $61,400 |
| NOI per month | $5,117 |
| Effective gross income | $96,900 |
| Operating expenses | $35,500 |
| Operating expense ratio | 36.6% |
How to read the result
Mortgage principal and interest, depreciation and capital improvements are not operating expenses, so leave them out of NOI.
Include a vacancy allowance even when fully let; lenders and buyers will.
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Questions
Questions about this tool
The things clients actually want to know — costs, timelines, ownership and what happens after launch.
Income from a property minus its operating expenses, before debt service and income tax.
No. Debt service is excluded from NOI.
Often 35% to 50% of effective gross income for residential rentals, depending on age and services.
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