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Rental Cash Flow

Rental Cash Flow & DSCR Calculator

Monthly cash flow, DSCR, and cash-on-cash for a rental: the numbers a lender and an honest underwriter both look at first.

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Common:
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years
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Vacancy & operating costs

Each cost switches between yearly and monthly, and management, maintenance, capex & vacancy also switch between a % of rent and a dollar amount. We convert it and show the figure under the field. Blank skips it.

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Vacancy comes off gross rent to get collected rent; management is charged on collected rent. CapEx is a reserve, excluded from NOI but taken out of cash flow. The mortgage is never in NOI, which is what makes DSCR comparable.

Monthly cash flow after capex reserve & debt service
/mo
Income (yearly)
Gross scheduled rent–
− Vacancy loss–
Effective gross income (collected)–
Appraisal NOI (excludes mortgage, capex & income tax)
− Operating expenses–
Net operating income (NOI)–
Cap rate NOI ÷ price–
Debt coverage
Annual debt service (P&I)–
DSCR NOI ÷ debt service–
Investor cash flow
− CapEx reserve–
− Debt service–
Annual cash flow–
Cash invested down + closing–
Cash-on-cash return–
Conservative · Expected · Optimistic

The same deal if rent comes in softer or stronger (±5%). Everything else held constant. Your expected case is highlighted.

ScenarioCash flow / DSCR

Market context optional

Selecting a market shows its price, rent, vacancy, and tax as reference defaults; each applies only when you click it, and never overwrites a field you haven't asked it to. Your own numbers above stay exactly as entered otherwise.

Next step

Gut-check the price with the cap rate calculator, size the loan in the mortgage calculator, or browse all the calculators. New here? Read how we underwrite a rental, step by step. Own the rental already? Track its real cash flow and DSCR over time instead of re-modeling it.

Related tools: BRRRR · Fix & Flip ROI · Home Affordability · all calculators
Market data: 2,300+ rental market grades · Best cash-flow rental markets 2026

Common questions

What is DSCR and why do lenders care?

Debt service coverage ratio = net operating income ÷ annual debt service. It measures whether the property itself covers its loan payments. Many rental lenders look for roughly 1.20–1.25; below 1.0 the property doesn’t cover the mortgage from its own income. This calculator uses appraisal NOI (which excludes capex and income tax) over principal-and-interest debt service. Some lenders instead use a simpler gross rent ÷ PITIA, so a lender’s stated DSCR can differ; treat the number as context, not a rule.

Can I enter each cost yearly or monthly, or as a percent of rent?

Yes. Every recurring operating cost (property tax, insurance, flood insurance, HOA, property management, maintenance, capex reserve, vacancy, owner-paid utilities, and a misc line) has a yearly/monthly toggle, and the ones that are naturally rates (management, maintenance, capex, and vacancy) also switch between a percent of rent and a dollar amount. Enter a bill however you have it; the converted figure is shown right under each field.

What counts as operating expenses, and where do capex and vacancy fit?

Operating expenses are property taxes, insurance, HOA, management, maintenance and similar running costs. NOI = effective gross income − operating expenses, and by appraisal convention NOI excludes the mortgage, the capex reserve, and income tax. Vacancy is taken off gross rent first to get effective (collected) rent, and property management is charged on that collected rent, not gross. The capex reserve is a real set-aside, so it is left out of NOI but subtracted in the investor cash-flow line.

What is cash-on-cash return?

Cash-on-cash = annual pre-tax cash flow ÷ total cash invested (down payment plus closing costs). It’s the yearly cash return on the money you actually put in, before financing paydown, appreciation, and taxes.

What is a good monthly cash flow?

There’s no universal number. Some investors want a per-door minimum, others accept thin cash flow for appreciation or debt paydown. What matters is that the number here is honest: realistic rent, realistic vacancy, and expenses from quotes rather than guesses. The conservative / expected / optimistic view shows how the deal moves if rent is a little softer or stronger.

Why does vacancy matter so much?

A vacant month costs the full rent but none of the expenses stop. Even 5–6% vacancy (roughly three weeks a year) shifts cash flow meaningfully on thin deals. Underwrite with a vacancy assumption you can defend, not zero.