Underwrite
Rental property income calculator for landlords
This is the landlord side of "rental income": what the property can collect, not what a tenant can afford on a 30% rule. Enter unit rents, other income, and vacancy; get gross potential rent, vacancy loss, and effective gross income - the top of every underwrite.
Assumptions
Returns stack
- GPR (annual)
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- Vacancy loss
- —
- EGI (annual)
- —
- EGI (monthly)
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When to use
Building the income half of a pro forma; checking a listing's rent roll math; before you jump to expenses and debt.
When not to
Not a renter "how much house can I afford" calculator. And asking rent is not the same as in-place lease rent.
Assumptions: GPR from market or lease rents annualized. Vacancy loss subtracted from GPR. Other income added only if you have a real source (parking, laundry).
Worked examples
Input
Rent $1,800/mo Vacancy 5%
Output
EGI ≈ $20,520/yr
Before other income and before operating expenses.
Input
Duplex $1,400 + $1,500 Vacancy 8%
Output
Blended EGI on two units
Multi-unit rent roll - vacancy applies to the whole GPR stack.
Common traps
- Not a renter "how much house can I afford" calculator.
- Asking rent is not in-place rent.
- Other income needs a real source (parking, laundry) - don't invent.