Oberlin24

Free tool

Rental property ROI calculator

The three numbers that actually tell you how a rental is doing: cash-on-cash return, cap rate, and return on equity, computed the way the Oberlin24 app does it.

Used to split your payment into interest vs. principal.
Down payment + closing costs + initial repairs.
Taxes, insurance, repairs, management. Exclude the mortgage and depreciation.
Optional, for total return on equity.
Net operating income (NOI)
Cap rate
Annual cash flow
Cash-on-cash return
Equity (value − loan)
ROE, operations
ROE, total (with appreciation)

Educational estimate, not investment advice. Principal paydown is approximated from your balance × rate; the app uses the exact amortization schedule. Confirm before making decisions.

What each number means

Cap rate = NOI ÷ value. It ignores your mortgage, so it measures the property, not the financing.

Cash-on-cash = annual cash flow ÷ cash you put in. It’s the number that answers “what is my actual cash doing this year?”

Return on equity (ROE) = the return on the equity trapped in the property today. Operations ROE counts cash flow plus the principal you pay down; total ROE adds appreciation. ROE is the one most landlords never check, and it’s how you tell whether equity that’s grown over the years is still earning its keep, or whether it’s time to sell, hold, or 1031.

For what counts as good on each of these (8% to 12% cash-on-cash, 5% to 8% cap rates, an 8% ROE bar) and the worked math behind the ranges, see what is a good ROI on a rental property.