AtlasCalcsUtility Calculation Suite
2026-09-21 7 min read

Real Estate Deal Analyzer

The full deal analysis — cash flow, cap rate, cash-on-cash, DSCR and the return at exit for a property. Live calculator with worked steps and charts.

Calculator

Purchase Price Help
$

The price you pay, before closing costs.

Number of Units(units)
units
Down Payment(%) Help
%

Investment loans typically require 20–30% down.

Interest Rate(%)
%
Loan Term(years)
years
Repair / Rehab Budget
$
Monthly Rent Help
$

Gross scheduled rent before vacancy.

Vacancy & Credit Loss(%) Help
%

Share of scheduled rent lost to turnover and non-payment.

Property Tax (Annual)
$
Insurance (Annual)
$
Maintenance & Repairs(%) Help
%

Share of effective income budgeted for repairs.

Property Management(%) Help
%

Share of collected rent charged by the manager.

Annual Appreciation(%)
%
Holding Period(years)
years
Selling Costs(%) Help
%

Commission plus closing costs, as a share of sale price.

Discount Rate / Target Return(%) Help
%

The annual return you require to tie up cash.

Advanced options (9)
Closing Costs
$
Other Monthly Income Help
$

Laundry, parking, storage, late fees, pet rent.

Utilities (Annual, Landlord-Paid)
$
Other Expenses (Annual)
$
Rent Growth(%)
%
Marginal Tax Rate(%)
%
Building Share of Price(%) Help
%

The non-depreciable land keeps the rest.

Depreciation Period(years)
First Payment Date

This property calculator runs on a full rental pro-forma: rent is annualised and reduced by vacancy, every operating expense is itemised to reach NOI, and the loan amortises monthly at the rate entered. Results update live as you type.

Amortization schedule

Balance Interest Payment
View:
YearInterestPrincipalEnding Balance
1$15,677.60$2,285.57$222,714.43
2$15,512.37$2,450.80$220,263.63
3$15,335.20$2,627.96$217,635.67
4$15,145.23$2,817.94$214,817.73
5$14,941.52$3,021.65$211,796.08
6$14,723.08$3,240.08$208,555.99
7$14,488.86$3,474.31$205,081.68
8$14,237.70$3,725.47$201,356.21
9$13,968.38$3,994.78$197,361.43
10$13,679.60$4,283.57$193,077.86
11$13,369.94$4,593.23$188,484.64
12$13,037.90$4,925.27$183,559.37
13$12,681.85$5,281.32$178,278.05
14$12,300.06$5,663.11$172,614.94
15$11,890.68$6,072.49$166,542.45
16$11,451.69$6,511.47$160,030.98
17$10,980.98$6,982.19$153,048.79
18$10,476.24$7,486.93$145,561.86
19$9,935.01$8,028.16$137,533.69
20$9,354.65$8,608.52$128,925.18
21$8,732.34$9,230.83$119,694.35
22$8,065.04$9,898.13$109,796.22
23$7,349.50$10,613.66$99,182.56
24$6,582.24$11,380.93$87,801.63
25$5,759.51$12,203.65$75,597.98
26$4,877.31$13,085.86$62,512.12
27$3,931.33$14,031.83$48,480.29
28$2,916.97$15,046.20$33,434.09
29$1,829.28$16,133.89$17,300.21
30$662.96$17,300.21$0.00

Results

Optimal

Annual Cash Flow

$3,424

About $285.30 per month after every expense and the mortgage.

Cap Rate

7.13%

In line with most rental markets

Cash-on-Cash Return

3.85%

Low — the deal is close to break-even

Net Operating Income

$21,387

Cash Needed to Close

$89,000

Down payment plus closing costs and the repair budget.

Debt Service Coverage

1.19x

Thin coverage — little margin for error

Monthly Payment

$1,497

Loan-to-Value

75.00%

Gross Rent Multiplier

9.6

Price ÷ gross annual rent.

Operating Expense Ratio

27.84%

Break-Even Occupancy

84.03%

IRR at Exit

1000.00%

Over the 10-year hold including the sale.

Equity Multiple

2.83x

Total distributions ÷ cash invested.

Total Return on Cash

182.53%

Total Profit

$162,451

Cash flow plus sale proceeds, less the cash invested.

Live results update as you type — currently showing annual cash flow of $3,424. Replace the defaults with your own rent roll, tax bill and insurance quote for an exact comparison.

Visualizations

Annual Cash Flow Over the Hold

3,424Y1
4,065Y2
4,726Y3
5,407Y4
6,108Y5
6,830Y6
7,574Y7
8,340Y8
9,129Y9
9,942Y10

Where the Effective Income Goes

Operating expenses26%
Vacancy & credit5%
Debt service58%
Cash flow11%

Equity Buildup Over the Hold

Cap Rate

7.1%
015

Formula

The analyser builds the full one-year pro-forma — loan sizing, amortisation, effective income, every expense — then reports the whole family of metrics a buyer, lender or appraiser would compute on the same sheet.

Cash flow = NOI − Debt service; Cap rate = NOI ÷ Price; Cash-on-cash = Cash flow ÷ Cash invested

Variables

SymbolNameUnitDescription
NOINOI$/yrEffective income less operating expenses
Debt serviceDebt service$/yrTwelve monthly mortgage payments
Cash flowCash flow$/yrNOI minus debt service
Cash investedCash in$Down payment, closing costs and rehab

Explanation

One page answers the three questions every purchase raises: does it pay monthly, is the price supported by income, and does it clear lender screens. The verdict blends all three.

Step-by-Step Calculation

Follow each step to understand how the result is calculated from your inputs.

Step 1

Size the loan from the purchase price and the down payment.

Loan = price × (1 − down payment %)
Purchase price:$300,000
Down payment:25.00%
Intermediate: $300,000 × (1 − 0.25)
Result: $225,000 loan, $75,000 down
Step 2

Amortise the loan to find the monthly payment and annual debt service.

P = L × i ÷ (1 − (1 + i)^−n)
Loan:$225,000
Rate:7.00%
Term:30 years
Intermediate: i = 0.005833333333333334 per month, n = 360 payments
Result: $1,496.93/month ($17,963/year)
Step 3

Annualise the rent and deduct vacancy and credit loss.

EGI = (rent × 12 + other income) × (1 − vacancy %)
Monthly rent:$2,600.00
Vacancy:5.00%
Intermediate: $31,200 − $1,560
Result: $29,640 effective gross income
Step 4

Subtract every operating expense to reach net operating income.

NOI = EGI − taxes − insurance − maintenance − management − utilities − other
Effective income:$29,640
Operating expenses:$8,253
Intermediate: $29,640 − $8,253
Result: $21,387 NOI
Step 5

Compute cash flow, cash-on-cash and cap rate from the figures above.

Cash flow = NOI − debt service; Cash-on-cash = cash flow ÷ cash invested; Cap rate = NOI ÷ price
NOI:$21,387
Debt service:$17,963
Cash invested:$89,000
Intermediate: Cash flow = $3,424 cash flow, 3.85% return on cash
Result: $3,424 cash flow, 3.85% return on cash
Final Answer
$3,424

Worked Examples

See how the calculator works with different scenarios.

Scenario

The real estate deal analyzer run on the values above, showing the full calculation path rather than only the answer.

Inputs

Price:300000
Rent Monthly:2600
Down Payment Pct:25
Rate:7

Calculation

1. Size the loan from the purchase price and the down payment. → $225,000 loan, $75,000 down 2. Amortise the loan to find the monthly payment and annual debt service. → $1,496.93/month ($17,963/year) 3. Annualise the rent and deduct vacancy and credit loss. → $29,640 effective gross income 4. Subtract every operating expense to reach net operating income. → $21,387 NOI 5. Compute cash flow, cash-on-cash and cap rate from the figures above. → $3,424 cash flow, 3.85% return on cash

Result

Annual Cash Flow: $3,424

Interpretation

NOI $21,387 on $300,000 (7.13% cap); debt $17,963 leaves $3,424 of annual cash flow and 3.85% on $89,000 invested. DSCR 1.19x. Projected 1000.00% IRR over a 10-year hold.

Understanding Your Result

Your Result: Annual Cash Flow: $3,424

Typical range: A rental that clears $89,000 of cash typically targets a 5–8% cap rate and an 8%+ cash-on-cash return; this one models at 7.13% and 3.85%.

What This Means

One page answers the three questions every purchase raises: does it pay monthly, is the price supported by income, and does it clear lender screens. The verdict blends all three.

Why It Matters

NOI $21,387 on $300,000 (7.13% cap); debt $17,963 leaves $3,424 of annual cash flow and 3.85% on $89,000 invested. DSCR 1.19x. Projected 1000.00% IRR over a 10-year hold.

Professional Interpretation

NOI $21,387 on $300,000 (7.13% cap); debt $17,963 leaves $3,424 of annual cash flow and 3.85% on $89,000 invested. DSCR 1.19x. Projected 1000.00% IRR over a 10-year hold.

How this is calculated

The analyser builds the full one-year pro-forma — loan sizing, amortisation, effective income, every expense — then reports the whole family of metrics a buyer, lender or appraiser would compute on the same sheet.

What drives the result

The pro-forma method: annualise the rent, deduct vacancy to reach effective gross income, subtract operating expenses to reach net operating income, then subtract debt service to reach cash flow. Each layer answers a different question — value (cap rate), lender safety (DSCR) and investor return (cash-on-cash).

Recommendations

  • •Stress the rent 5% lower and vacancy 5% higher; if the deal still pays, it will survive a soft year.
  • •Value the property on NOI, not on the listing price or the tax assessment.
  • •Get an insurance quote and a current tax assessment before trusting the cash flow — both often rise after purchase.

Educational Content

Introduction

Rental analysis starts with one year of operations: scheduled rent, vacancy and credit loss, every operating expense, and the debt payment. NOI is what remains for the owner; everything else — cap rate, cash flow, DSCR, cash-on-cash — is NOI viewed from a different angle.

Concept Explanation

The pro-forma method: annualise the rent, deduct vacancy to reach effective gross income, subtract operating expenses to reach net operating income, then subtract debt service to reach cash flow. Each layer answers a different question — value (cap rate), lender safety (DSCR) and investor return (cash-on-cash).

Applications

▸Screening a listing against your price and return requirements in minutes
▸Comparing two or three candidate properties on the same pro-forma assumptions
▸Preparing a lender-ready one-year operating statement for a loan request
▸Setting rents and budgeting expenses for a property you already own

Benefits

  • •One consistent model across every property, so comparisons are fair
  • •Forces every expense to be named and budgeted rather than ignored
  • •Separates the property’s performance from the financing around it

Limitations

  • •A one-year pro-forma cannot capture capital expenditures that arrive in lumps — roofs, systems and exteriors need their own reserve
  • •Actual vacancy and expense ratios vary by market and management quality; a single assumption hides that spread
  • •The model assumes the rent roll is at market; in-place rents below market flatter the deal

Best Practices

  • •Build the pro-forma from your own quotes — insurance, taxes and management — not the seller’s summary
  • •Stress the deal: rent down 5%, vacancy up 5% — if it still pays, it will survive a soft year
  • •Fund a capital-expenditure reserve of about 5% of rent before calling any cash flow "positive"

Common Misconceptions

Myth: NOI is the profit the owner pockets.
Truth: NOI comes before the mortgage payment; only cash flow (NOI − debt service) reaches the owner’s bank account.
Myth: A property with positive cash flow is always a good deal.
Truth: Positive cash flow on an overpriced building can still be a worse investment than the same cash in an index fund — compare returns, not just sign.
Myth: Operating expenses are optional line items.
Truth: Vacancy, maintenance and management are real costs even when self-managed; underwriting them at zero inflates the price you can justify.

Practical Tips

  • •Enter your own insurance and tax figures first — they move the verdict more than price does
  • •Compare the gauge’s cap rate with the market’s for this property type before trusting the cash flow
  • •Read the DSCR before the cash flow: a thin DSCR means a refinance or a rent cut could break the deal

Common Mistakes

Underwriting the seller’s pro-forma rent.
Verify rent from three comparable leases; in-place rent below market flatters cash flow and price.
Ignoring capital expenditures.
Roofs and systems arrive in lumps; reserve about 5% of rent so a “positive” year is not funded by deferred maintenance.

Assumptions

This calculator makes the following assumptions to provide estimates:

One-year pro-forma: Income and expenses are modelled for a typical year, not a lease-by-lease schedule.
Fixed-rate debt: The loan amortises at the entered rate for the full term with no resets or balloons.

Limitations

Be aware of these limitations when using this calculator:

Limitation: A one-year pro-forma cannot capture capital expenditures that arrive in lumps — roofs, systems and exteriors need their own reserve
Limitation: Actual vacancy and expense ratios vary by market and management quality; a single assumption hides that spread
Limitation: The model assumes the rent roll is at market; in-place rents below market flatter the deal

Frequently Asked Questions

Answers to common questions about this calculator.

What makes a rental deal "good"?
Most investors look for cash flow above zero after a real expense load, a cap rate in the 5–8% range, DSCR above 1.25x and a cash-on-cash return of 8% or more — the analyser flags all four.
Who uses the real estate deal analyzer?
It is used by rental investors screening and pricing deals, by owner-operators budgeting expenses and rents, and by agents, lenders and advisers sanity-checking the numbers before money moves. It sits in the Returns & Metrics group of the Real Estate Investing section of Atlascalcs.
How accurate is the real estate deal analyzer?
Every figure follows from the inputs using standard property underwriting mathematics, so it is accurate to the quality of the values you enter. Lenders, appraisers and tax assessors each apply their own adjustments, so expect small differences against formal documents.
Do I need to sign up or pay to use this calculator?
No. Every Atlascalcs calculator is free, runs entirely in your browser and never asks for an account. Nothing you enter is uploaded or stored.
Can I use these numbers in a formal valuation or loan application?
The calculator is an underwriting aid, not an appraisal or a lender offer. Lenders and appraisers apply their own adjustments, so treat the output as a disciplined estimate to bring to those conversations.
How do I choose realistic inputs?
Pull rent from comparable leases, property tax from the current assessment, insurance from a quote, and management and maintenance from what operators in your market actually pay. Seller pro-formas are marketing documents.

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Related Guides

Deepen your understanding with these educational resources.

Glossary

Technical terms used in mortgage calculations explained in plain language.

Net Operating Income (NOI)
Effective gross income minus operating expenses, before debt service and income tax. The core measure of a property’s earning power.
Effective Gross Income (EGI)
Scheduled rent plus other income, less vacancy and credit loss.
Capitalisation Rate
NOI divided by price or value — the unlevered yield the income stream offers at today’s price.
Debt Service Coverage Ratio (DSCR)
NOI divided by annual debt service. Lenders typically require 1.20–1.25x on income property.
Cash-on-Cash Return
Annual cash flow divided by the cash you invested — the first-year return on your down payment.
Gross Rent Multiplier (GRM)
Price divided by gross annual rent. A quick screen that ignores expenses.
Break-Even Occupancy
The occupancy at which collected rent exactly covers operating expenses plus debt service.

Authoritative References

Trusted sources and standards referenced by this calculator.

Applicable Standards

Level-payment amortisation, payments assumed in arrearsIncome and expenses annualised; percentages entered as annual ratesStraight-line depreciation per IRC §168 recovery periodsMoney rounded for display only; all calculations run at full precision

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Page Information

Last Updated:

2026-09-21

Version:

2.0.0

License:

Free to use for educational and professional purposes.