Net Operating Income
The profit before the loan
Net operating income is what a property earns after operating expenses but before debt service and income taxes. It is the number lenders and investors anchor on, and when you divide it by the purchase price you get the cap rate. This calculator does both.
Browser-only estimate
What the property earns, net of expenses
Enter gross income, vacancy, operating expenses, and the purchase price. NOI and cap rate update as you type.
Total scheduled rent at 100% occupancy for the year, before vacancy and expenses.
Property tax, insurance, management, repairs, utilities, HOA, and other operating costs for the year.
Net operating income
$19,360
- Effective gross income
- $27,360
- Operating expenses
- $8,000
- Expense ratio
- 29.2%
- Cap rate
- 5.5%
Estimates only. The cap rate is NOI divided by purchase price, the standard first-look metric for income property.
Get Market Cap RatesGet the real numbers
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This is a browser-only estimate to help you plan. Michael “Wiz” Wisniewski pairs the math with real lender quotes, current tax and insurance figures, and a plan that fits your goals. No obligation, no pressure.
This is a browser-only estimate with simplified assumptions.
NOI excludes mortgage payments, capital improvements, and income tax; it measures the property itself, not your financing.
Wiz verifies each expense line with real market data before you underwrite a deal.