Net Operating Income (NOI) Calculator
Find a rental property's net operating income.
Enter your values
ⓘ Live results
Results
- Effective gross income
- $52,452.00
- Operating expenses
- $14,000.00
- Net operating income
- $38,452.00
- NOI margin
- 73.31%
Quick answer
Net operating income is a property's income after operating expenses and vacancy, but before mortgage payments, capital expenditures, and taxes on the owner's return.
NOI = effective gross income - operating expenses
How to use the Net Operating Income (NOI) Calculator
- 1Enter gross monthly rent and any other property income.
- 2Apply a realistic vacancy rate.
- 3Subtract all annual operating expenses (taxes, insurance, maintenance, management) — but not debt service.
Worked example
Using the values the calculator loads with:
Inputs
- Gross monthly rent4500 $
- Other monthly income (parking, laundry)150 $
- Vacancy rate6 %
- Annual operating expenses14000 $
Results
- Effective gross income$52,452.00
- Operating expenses$14,000.00
- Net operating income$38,452.00
- NOI margin73.31%
Frequently asked questions
Does NOI include mortgage payments?
No — NOI is calculated before debt service, so it can be compared across properties regardless of financing.
What expenses are excluded from NOI?
Mortgage principal and interest, capital expenditures, and income taxes are excluded from operating expenses.
About this calculator
- Built and reviewed by James Whitfield · How we build and test calculators
- Report an error
Results are estimates for general information. For medical, legal, structural or financial decisions, confirm with a qualified professional.