Runs in your browser · Last updated 5 September 2026
Free Cap Rate Calculator for Rental Property (US)
Free cap rate calculator for rental property. NOI ÷ price from rent, vacancy, and operating expenses — no mortgage. Runs in your browser. Nothing is uploaded.
Cap rate = NOI ÷ price. Operating expenses are taxes, insurance, repairs, and management — not the mortgage. Debt belongs on the cash-flow page.
Cap rate
6.81%
NOI
$19,080
Gross yield
9.43%
Gross annual rent
$26,400
Vacancy loss
$1,320
Effective gross income
$25,080
How to use this tool
- Enter price (or current value) and monthly rent.
- Set vacancy % and annual operating expenses.
- Read cap rate, NOI, and gross yield. Use the cash-flow page if there is a loan.
Worked example
$280,000 purchase, $2,200 rent, 5% vacancy, $6,000 operating expenses: gross rent is $26,400, NOI is $19,080, cap rate is about 6.81%. That is before any mortgage. Add a loan on the cash-flow calculator, compare a cash-out refinance against selling on refinance vs sell, or read the occupancy that covers the note on break-even occupancy, or screen rent ÷ price against the same NOI on 1% rule vs cap rate.
Frequently asked questions
- What is cap rate?
- Net operating income divided by purchase price or current value. It is an unlevered yield — the mortgage is left out on purpose.
- What counts as operating expenses?
- Taxes, insurance, repairs, vacancy allowance (or a vacancy %), management, HOA, utilities you pay. Not principal, interest, or depreciation.
- Gross yield vs cap rate?
- Gross yield is rent ÷ price. Cap rate subtracts vacancy and operating expenses first.
- Is this a listing or lender quote?
- No. Type the numbers you already have. Nothing is uploaded.
- Uploaded?
- No.