Temelios

NOI Calculator

Calculate property income before debt service.

Subtracts all operating expenses (taxes, insurance, maintenance, management, vacancy) from gross income to arrive at Net Operating Income.

NOI is the income the property generates on its own—before any financing. It's used to calculate cap rate and is the benchmark lenders use for DSCR.

1
Enter gross annual rent: Total annual rent if fully occupied.
2
Enter vacancy rate: Expressed as a percentage. Use real census data, not seller estimates.
3
Enter annual operating expenses: Property taxes + insurance + maintenance + management + HOA + other. Exclude mortgage payments.
4
Read NOI: Effective income (gross − vacancy) minus operating expenses.

Annual Gross Rent ($)

Vacancy Rate (%)

Annual Operating Expenses ($)

Effective Income$21,600

Net Operating Income (NOI)$12,000

•Use market vacancy data, not the seller's claimed vacancy. Sellers often show 0–3%; census data for the ZIP typically shows 5–12% depending on the market.
•Operating expenses for residential rentals typically run 35–50% of gross income. If a seller's pro forma shows under 30%, scrutinize every line.
•Always budget property management at 8–12% of gross rents — even if you self-manage, it reflects the true economic cost and prepares you to scale.
•Capital reserves ($100–$200/unit/month or 5–10% of rent) are an operating expense; omitting them overstates NOI.
•Never include debt service in operating expenses — NOI is pre-financing. Lenders use NOI to calculate DSCR independently of your specific loan.

Want the full picture?

These calculators use your assumptions. Temelios pulls real comps and census data so your vacancy, rent, and expense inputs are grounded in reality.