What if cash invested is zero?

Cash-on-cash ROI is undefined; cap rate can still be calculated from NOI and value.

Is this investment advice?

No. It is an educational arithmetic worksheet using your assumptions.

Should capital expenditures be in operating expenses?

Large one-time capex is often tracked separately; include only costs you want inside this year’s NOI.

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Property Cash-on-Cash ROI and Cap Rate Calculator

Connect income, expenses, debt service, and equity into clear ROI metrics without promising returns.

NOI and cash flow

Cash-on-cash ROI

Cap rate

Computes NOI and annual cash flow, then cash-on-cash ROI from cash invested and cap rate from property value.

Limitation: Educational estimate only—not investment, tax, or lending advice.

Jump to calculator · Sources & review

Free Calculators HubProperty Investment ROI Calculator

CurrencyCash investedDown payment, closing costs, and other cash equity you want in the ROI denominator.Annual gross incomeAnnual operating expensesAnnual debt serviceTotal principal and interest payments for the year.Property value

How to Estimate Property ROI

Enter annual figures in one currency using a consistent scenario year.

Choose a display currency; no conversion is performed.

Align the scenario year

Use the same twelve-month window for income, expenses, and debt service so cash flow is comparable.

What ROI and Cap Rate Mean Here

Cash-on-cash ROI measures annual cash flow relative to cash invested. Cap rate measures NOI relative to property value and is independent of financing. Zero cash invested makes cash-on-cash undefined.

Property ROI Examples

Leveraged rental scenario

Entered investment assumptions

cashInvested:60000

annualGrossIncome:24000

annualOperatingExpenses:6000

annualDebtService:9000

propertyValue:300000

ROI metrics

18,000 NOI; 9,000 cash flow; 15% cash-on-cash; 6% cap rate

NOI = 24,000 − 6,000; cash flow = 18,000 − 9,000; 9,000/60,000 = 15%; 18,000/300,000 = 6%.

Smaller equity example

Entered investment assumptions

cashInvested:50000

annualGrossIncome:20000

annualOperatingExpenses:5000

annualDebtService:8000

propertyValue:250000

ROI metrics

15,000 NOI; 7,000 cash flow; 14% cash-on-cash; 6% cap rate

NOI = 15,000; cash flow = 7,000; 7,000/50,000 = 14%; 15,000/250,000 = 6%.

Separate yield from leverage

Compare cap rate and cash-on-cash side by side to see how debt changes cash return without changing NOI.

Frequently Asked Questions

No. It measures income-based metrics for the scenario year only.

Still have questions about this calculation?

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Property ROI Formulas

No market rent, cap-rate database, or tax model is inferred.

Formula

annualGrossIncome − annualOperatingExpenses

Net operating income

annualGrossIncome − annualOperatingExpenses

Annual cash flow

NOI − annualDebtService

Cash-on-cash ROI

annualCashFlow ÷ cashInvested × 100

Cap rate

NOI ÷ propertyValue × 100

Scientific Background

Assumptions: one currency and annual figures that already reflect vacancy if desired. Limitations: taxes, depreciation, refinance events, and sale proceeds are excluded. Educational context: Investor.gov real estate basics.

Sources & review

Property Investment ROI Calculator documents the references behind its formulas and assumptions. Always treat results as educational estimates, not personalized professional advice.

Last reviewed

July 22, 2026

Digital assets investing basics
U.S. Securities and Exchange Commission — Investor.gov
https://www.investor.gov/introduction-investing/investing-basics/investment-products/real-estate-investment-trusts-reits
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