What is being compared?

Keep the rental, cash-out refinance, and hold for N years versus sell today, pay selling costs, and invest the leftover equity at your assumed return.

Is NOI after the mortgage?

No. NOI is rent after vacancy and operating expenses. The new payment is subtracted separately to get cash flow.

Does this model a 1031 exchange?

No. Sale proceeds are treated as cash you can invest. Capital-gains tax on the sale is not subtracted — pair with the home-sale exclusion or US LTCG pages if the property was ever a residence.

What about depreciation recapture?

Not modeled here. Recapture can make selling more expensive than the net-worth gap suggests.

Runs in your browser · Last updated 7 September 2026

Free Refinance vs Sell Rental Calculator

Free refinance vs sell rental calculator. Compare a cash-out refinance and hold with selling and investing the proceeds. Browser tool — nothing is uploaded.

Current value ($)Loan balance ($)Current rate %Years left on current loanMonthly rent ($)Vacancy %Annual operating expenses ($)Hold / compare (years)

Cash-out refinance

New rate %New term (years)Cash-out ($)Refinance closing ($)Roll closing into the new loan

Sell instead

Sell costs % (commission + fees)Appreciation % / yearInvest proceeds / cash-out at % / year

After 8 years, keeping and refinancing wins on net worth. Keep path is leftover equity + cash-out and cash flow grown at the invest rate. NOI excludes debt service. Not a 1031 or tax filing.

Keep net worth

$437,938

Sell + invest net worth

$341,060

Keep advantage

$96,878

NOI (year 1)

$24,084

New payment / mo

$1,725.27

Cash flow after refi / mo

$281.73

Sale proceeds today

$198,500

New loan

$266,000

Equity if you keep

$333,093

How to use this tool

Enter value, loan, rent, vacancy, and operating expenses.
Set the refinance rate, cash-out, and selling-cost percent.
Read keep vs sell net worth after the hold years.

Worked example

A $500,000 rental with a $100,000 loan, $4,000 rent, and 5% vacancy can support a cash-out refinance and still show a keep-path win over seven years when appreciation is 4% and sale costs are 8%. A $400,000 house with thinner rent and an 8% invest rate more often favors selling. Use the cap-rate and cash-flow tools for the year-one snapshot.

Frequently asked questions

What is being compared?: Keep the rental, cash-out refinance, and hold for N years versus sell today, pay selling costs, and invest the leftover equity at your assumed return.
Is NOI after the mortgage?: No. NOI is rent after vacancy and operating expenses. The new payment is subtracted separately to get cash flow.
Does this model a 1031 exchange?: No. Sale proceeds are treated as cash you can invest. Capital-gains tax on the sale is not subtracted — pair with the home-sale exclusion or US LTCG pages if the property was ever a residence.
What about depreciation recapture?: Not modeled here. Recapture can make selling more expensive than the net-worth gap suggests.
Uploaded?: No.