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Cap Rate Calculator

Calculate the cap rate for any investment property using net operating income and property value. Compare multiple properties side by side, view benchmarks by property type, and evaluate investment returns.

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How to Use Cap Rate Calculator

  1. 1Enter the property purchase price or current value.
  2. 2Input gross rental income and operating expenses.
  3. 3View the calculated cap rate and NOI.
  4. 4Compare with benchmarks for your property type.

Frequently Asked Questions

Capitalization rate (cap rate) is the ratio of net operating income (NOI) to property value, expressed as a percentage. It measures the expected rate of return on a real estate investment, independent of financing.

Good cap rates vary by property type and location. Residential properties typically range 4-8%, commercial 5-10%, and industrial 6-12%. Higher cap rates indicate higher potential returns but also higher risk.

NOI = Gross Rental Income minus Operating Expenses (property taxes, insurance, maintenance, management fees, vacancy allowance). It does not include mortgage payments or depreciation.

Using the Cap Rate Calculator is simple: visit the tool page, enter your data or input into the provided fields, and get instant results. No downloads, installations, or sign-ups are required. The tool runs directly in your web browser for maximum convenience.

Yes, the Cap Rate Calculator is 100% free to use with no limitations. There is no registration required, no daily usage caps, and no hidden fees. You can use it as many times as you need.

The Cap Rate Calculator uses industry-standard formulas and algorithms to deliver reliable results. While the tool is designed for accuracy, results should be used as estimates and guidance. For critical decisions, always consult a qualified professional.

Yes, after running your calculation you can copy the results to your clipboard or take a screenshot. The Cap Rate Calculator displays a detailed breakdown so you can easily record or share your numbers. No account is required to use or save results.

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About Cap Rate Calculator

Calculate the cap rate for any investment property using net operating income and property value. Compare multiple properties side by side, view benchmarks by property type, and evaluate investment returns.

NexTool's Cap Rate Calculator is completely free to use with no sign-up required. Your data is processed directly in your browser and never sent to our servers, ensuring complete privacy and instant results.

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Property A

Cap Rate — Property A
5.75%
Average
NOI (Annual)
$14,376
NOI (Monthly)
$1,198.00
Expense Ratio
40.10%
Gross Rent Multiplier
10.42x
Cap Rate = $14,376 / $250,000 = 5.75%
Income Breakdown
NOI
$14,376
Net Operating Income$14,376
Property Taxes$3,000
Insurance$1,200
Maintenance$2,400
Management Fee$1,824
Vacancy Loss$1,200
NOI Waterfall
Gross Rental Income$24,000
Less: Vacancy (5%)−$1,200
Effective Gross Income$22,800
Less: Property Taxes−$3,000
Less: Insurance−$1,200
Less: Maintenance−$2,400
Less: Management (8%)−$1,824
Total Operating Expenses−$8,424
Net Operating Income (NOI)$14,376
Cap Rate Benchmarks by Property Type
Property TypeLowTypicalHighRange
Single-Family Residential
4%6%8%
Multi-Family Residential
5%7%9%
Retail / Commercial
5%7.5%10%
Office Space
5.5%7.5%10%
Industrial / Warehouse
6%8.5%12%
Mixed-Use
5%7%9.5%
The thin vertical line on each bar represents your cap rate of 5.75%. Market cap rates vary by location, property condition, and economic conditions.
Price vs. Cap Rate Sensitivity
Purchase PriceCap RateMonthly NOIGRM
$200,000(-20%)7.19%$1,198.008.33x
$225,000(-10%)6.39%$1,198.009.38x
$237,500(-5%)6.05%$1,198.009.90x
$250,000Current5.75%$1,198.0010.42x
$262,500(+5%)5.48%$1,198.0010.94x
$275,000(+10%)5.23%$1,198.0011.46x
$300,000(+20%)4.79%$1,198.0012.50x
Shows how cap rate changes at different purchase prices while NOI remains constant at $14,376 per year.
How Cap Rate is Calculated
Capitalization Rate Formula
Cap Rate = Net Operating Income (NOI) / Property Purchase Price x 100%
Net Operating Income (NOI)
NOI = Gross Rent - Vacancy Loss - Taxes - Insurance - Maintenance - Management
NOI excludes mortgage payments, depreciation, and capital expenditures. It represents income from operations only.
Gross Rent Multiplier (GRM)
GRM = Property Price / Annual Gross Rental Income
A lower GRM indicates a potentially better investment. Typical GRM ranges from 4x to 12x depending on the market and property type.
Disclaimer: This calculator provides estimates for informational purposes only. Cap rates vary significantly by location, property condition, market conditions, and individual property characteristics. Actual returns may differ from estimates. This tool does not account for financing costs, capital expenditures, depreciation, or tax benefits. Consult with a qualified real estate professional or financial advisor before making investment decisions.