Model a single-family rental or small multifamily property by entering total rent across every unit and the property's actual vacancy, operating expenses, reserves, financing, and cash invested. The calculator returns cash flow and return metrics from your inputs, not a market benchmark.
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Search live ZIP inventory first, then run the best address through this calculator before you call, bid, or spend money on deeper due diligence.
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Search live inventory with no DistressedDealRadar account or paywall. Open a promising listing, then run the address through this free calculator before you bid.
ZIP results are mixed inventory: pre-foreclosure, auction, and bank-owned REO listings.
Get the free workbook with editable Rental, BRRRR, and Flip tabs, including NOI, cash flow, cap rate, cash-on-cash, DSCR, and refinance formulas.
Small multifamily example
This four-unit example is arithmetic, not a return benchmark. Enter actual unit-level rents and the property's current vacancy, taxes, insurance, utilities, management, repairs, reserves, debt service, and cash invested before making a decision.
Cap rate compares annual net operating income with property value before debt. Cash-on-cash return compares annual cash flow after debt service with the cash you actually invested. Financing can leave the same property with a strong cap rate but a very different cash-on-cash return.
Worked example
Cash flow starts with collected rent, then subtracts vacancy, fixed bills, reserves, management, and debt service.
This deal looks cash-flow positive, but only because the expense stack includes vacancy and reserves instead of just rent minus mortgage.
Rental cash flow is the money left each month after rent and other income are reduced by vacancy, operating expenses, reserves, and debt service.
Yes. A property can look profitable if you ignore reserves, then lose money when repairs, turns, or big-ticket replacements arrive.
No. It misses vacancy, taxes, insurance, management, HOA, utilities, maintenance, and CapEx reserves.
Vacancy is a forward-looking reserve for tenant turnover, leasing delay, and collection gaps. It keeps the estimate from depending on perfect occupancy.
Cap rate compares annual net operating income with property value before debt. Cash-on-cash return compares annual cash flow after debt service with the cash you actually invested. Financing can leave the same property with a strong cap rate but a very different cash-on-cash return.