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Calculate net operating income from scheduled rent, other recurring property income, vacancy and collection loss, and itemized operating expenses. Review the annual result, monthly equivalent, and expense sensitivity.
What this baseline models
Public calculator · no account required
Enter one consistent annual USD period. Include recurring property operations only; keep financing, owner taxes, depreciation, and one-time capital projects outside NOI.
Net operating income
$22,200
Effective gross income minus recurring operating expenses
Effective gross income
$34,200
Gross potential income after vacancy and credit loss
Operating expenses
$12,000
Sum of the entered recurring property expenses
Operating expense ratio
35.09%
Operating expenses divided by effective gross income
Annual income, vacancy, expense, and monthly-equivalent operating results.
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Deterministic checks based only on this scenario's inputs and outputs.
This result includes the entered replacement reserve as an operating expense. Lenders, appraisers, owners, and statements may use a different convention.
NOI excludes debt service, financing fees, depreciation, income taxes, acquisition and sale costs, and one-time capital projects.
Each row reruns the same formula engine while changing every entered operating-expense category by ±5% and ±10%. Income and vacancy stay fixed.
| Expense change | Operating expenses | NOI | Expense ratio |
|---|---|---|---|
| -10.00% | $10,800 | $23,400 | 31.58% |
| -5.00% | $11,400 | $22,800 | 33.33% |
| Base | $12,000 | $22,200 | 35.09% |
| +5.00% | $12,600 | $21,600 | 36.84% |
| +10.00% | $13,200 | $21,000 | 38.60% |
Formula reference
Money is displayed in USD and rates are entered as percentages where applicable. Formula version noi@1.0.0 stays attached to the result.
Gross scheduled rent + other recurring operating income
The annual property income modeled before vacancy and collection loss. One-time owner proceeds and financing are excluded.
Gross potential income − vacancy and credit loss
The annual operating income remaining after the explicit vacancy and collection-loss allowance.
Sum of all entered recurring property operating expenses
Includes the entered taxes, insurance, repairs, management, owner-paid utilities, association fees, replacement reserve, and other recurring operating expenses.
Effective gross income − total operating expenses
Annual property operating income before debt service, financing costs, depreciation, income taxes, acquisition costs, sale costs, and one-time capital projects.
Total operating expenses ÷ effective gross income
The share of modeled effective gross income consumed by recurring operating expenses. It is unavailable when effective gross income is zero or negative.
Annual NOI ÷ 12
A monthly display of the annual operating result. The calculation itself uses one consistent annual period.
Example scenario
The default scenario starts with $36,000 of scheduled annual rent, subtracts a $1,800 vacancy and credit-loss allowance, then subtracts $12,000 of itemized operating expenses. The inputs are editable evidence fields, not market benchmarks.
Open the example in the calculatorGross scheduled rent
$36,000
Effective gross income
$34,200
Operating expenses
$12,000
Net operating income
$22,200
FAQ
Net operating income is effective gross property income minus recurring operating expenses for the same period. DealYield calculates it before debt service, financing costs, depreciation, income taxes, acquisition costs, and sale costs.
Common categories include property taxes, insurance, routine repairs, management, owner-paid utilities, association costs, and other recurring property expenses. Use property-specific evidence and keep one-time renovation projects separate.
No. Mortgage principal, interest, points, and other financing costs are excluded so NOI describes the modeled property operations independently of an owner's loan.
Conventions vary among owners, lenders, appraisers, and statements. This calculator includes the amount entered in replacement reserves as an operating expense and keeps that choice visible in the result.
Compare this result with another view of income, financing, or project returns. Each calculator uses its own transparent assumptions.