Underwrite
Rental property profit calculator
"Profit" in landlord chat usually means money left after the bills - sometimes before the mortgage, sometimes after. This page lets you choose: operating profit ≈ NOI, or cash profit after debt service. No depreciation schedule, no Schedule E filing - just the planning number before you call it a win.
Assumptions
Returns stack
- EGI
- —
- Operating profit (NOI)
- —
- Cash profit (after debt)
- —
When to use
Explaining profit to a partner in plain English; stress-testing expense creep; checking whether a "profitable" listing still clears the loan.
When not to
Accounting profit is not always cash in the checking account. And depreciation can create paper losses with positive cash - not modeled here, not tax advice.
Assumptions: Operating profit (NOI) = EGI minus operating expenses. Cash profit optionally subtracts debt service. No income tax, depreciation, or CapEx reserve unless you model them in OpEx.
Worked examples
Input
EGI $30,000 OpEx $11,000
Output
Operating profit $19,000
NOI-style profit - before debt and income tax.
Input
Same · Debt $16,000
Output
Cash profit $3,000/yr
Thin cash profit even when operating profit looks healthy.
Common traps
- Accounting profit is not cash in the checking account.
- Depreciation can create paper losses with positive cash - not modeled; not tax advice.
- CapEx surprises are still real.