Formula to Calculate the Interest Rate on a Loan

Rental Property Cash-on-Cash Return Calculator
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Rental Property Cash-on-Cash Return Calculator

(Taxes, Insurance, HOA, Maintenance)

Investment Analysis

Total Cash Invested:
Monthly Mortgage Payment:
Monthly Cash Flow:
Annual Cash Flow:
Cash-on-Cash Return:

Understanding Cash-on-Cash Return for Rental Properties

When investing in real estate, determining the profitability of a rental property is crucial before signing any contracts. The Cash-on-Cash (CoC) Return is one of the most popular metrics used by investors to evaluate the performance of an income-producing property. Unlike purely appreciation-based metrics, CoC focuses specifically on the cash income earned on the cash invested.

What is Cash-on-Cash Return?

Cash-on-Cash Return is a percentage that measures the annual pre-tax cash flow generated by the property relative to the total amount of initial cash invested. It effectively tells you how hard your money is working for you.

The formula is:
Cash-on-Cash Return = (Annual Pre-Tax Cash Flow / Total Cash Invested) × 100%

Key Components of the Calculation

  • Total Cash Invested: This includes your down payment, closing costs, and any immediate repair or renovation costs required to get the property rent-ready.
  • Annual Cash Flow: This is your Net Operating Income (NOI) minus your annual debt service (mortgage payments). It represents the actual profit you pocket at the end of the year.

What is a Good Cash-on-Cash Return?

While "good" is subjective and depends on the local market and risk profile, many investors aim for a Cash-on-Cash return between 8% and 12%.

  • 8-12%: Generally considered a solid return, outperforming the average stock market returns historically.
  • Below 8%: May be acceptable in high-appreciation markets (like tier-1 cities) where the long-term equity gain offsets lower immediate cash flow.
  • Above 15%: Often found in lower-cost markets or riskier neighborhoods, or through value-add strategies (renovating to increase rent).

How to Improve Your ROI

If your calculation shows a lower return than desired, consider these strategies: 1. Increase Rent: Can you make cosmetic upgrades to justify higher rent? 2. Lower Expenses: Shop around for cheaper insurance or challenge property tax assessments. 3. Refinance: If interest rates drop, refinancing can lower your mortgage payment, thereby increasing monthly cash flow.

Use our Rental Property Cash-on-Cash Return Calculator above to test different scenarios, such as adjusting your down payment or estimated rental income, to see how they impact your investment's bottom line.

function calculateROI() { // 1. Get Inputs var price = parseFloat(document.getElementById('purchasePrice').value); var closing = parseFloat(document.getElementById('closingCosts').value); var downPercent = parseFloat(document.getElementById('downPaymentPercent').value); var rate = parseFloat(document.getElementById('interestRate').value); var years = parseFloat(document.getElementById('loanTerm').value); var rent = parseFloat(document.getElementById('monthlyRent').value); var expenses = parseFloat(document.getElementById('monthlyExpenses').value); // 2. Validation if (isNaN(price) || isNaN(closing) || isNaN(downPercent) || isNaN(rate) || isNaN(years) || isNaN(rent) || isNaN(expenses)) { alert("Please fill in all fields with valid numbers to calculate your return."); return; } // 3. Logic var downPaymentAmount = price * (downPercent / 100); var loanAmount = price – downPaymentAmount; var totalCashInvested = downPaymentAmount + closing; // Mortgage Calculation var monthlyRate = rate / 100 / 12; var numberOfPayments = years * 12; var monthlyMortgage = 0; if (rate === 0) { monthlyMortgage = loanAmount / numberOfPayments; } else { monthlyMortgage = (loanAmount * monthlyRate) / (1 – Math.pow(1 + monthlyRate, -numberOfPayments)); } // Cash Flow Calculation var totalMonthlyCost = monthlyMortgage + expenses; var monthlyCashFlow = rent – totalMonthlyCost; var annualCashFlow = monthlyCashFlow * 12; // Cash on Cash Return Formula var cocReturn = 0; if (totalCashInvested > 0) { cocReturn = (annualCashFlow / totalCashInvested) * 100; } // 4. Formatting helper function formatCurrency(num) { return "$" + num.toFixed(2).replace(/\d(?=(\d{3})+\.)/g, '$&,'); } // 5. Display Results document.getElementById('displayTotalCash').innerHTML = formatCurrency(totalCashInvested); document.getElementById('displayMortgage').innerHTML = formatCurrency(monthlyMortgage); // Color coding for cash flow var cashFlowElem = document.getElementById('displayMonthlyCashFlow'); cashFlowElem.innerHTML = formatCurrency(monthlyCashFlow); cashFlowElem.style.color = monthlyCashFlow >= 0 ? "#27ae60" : "#c0392b"; var annualFlowElem = document.getElementById('displayAnnualCashFlow'); annualFlowElem.innerHTML = formatCurrency(annualCashFlow); annualFlowElem.style.color = annualCashFlow >= 0 ? "#27ae60" : "#c0392b"; document.getElementById('displayCoC').innerHTML = cocReturn.toFixed(2) + "%"; // Show results div document.getElementById('results').style.display = 'block'; }

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