Enter total property investment
Add lot and construction cost to represent the capital tied to the property before any refinance.
Long-term rental investment tool
Florida Rental Property Investment Calculator
Evaluate a long-term rental property in Florida using projected rent, HOA, property tax, insurance, management, appreciation and optional cash-out refinance assumptions.
How it works
How to use this calculator
Model the economics of a long-term rental by combining acquisition or build cost, recurring operating expenses, financing and appreciation assumptions.
Enter rent and operating expenses
Use realistic monthly rent, HOA, annual property tax, insurance and optional management costs.
Choose whether to model a refinance
Turn on the cash-out refinance scenario to include debt service, financing costs and first-year principal amortization.
Review cash flow and returns
Compare monthly cash flow, cap rate, cash-on-cash return, appreciation and total first-year ROI.
Calculator
Run your scenario
Adjust the inputs below and the results will update automatically.
Illustrative estimate only. Results vary by rates, costs, market conditions, property and strategy. Not financial, tax, legal, lending or investment advice.
Understanding your results
How to interpret the numbers
Each return metric answers a different question. Cap rate focuses on property operations, cash-on-cash focuses on invested cash and total ROI can include appreciation and loan amortization.
Monthly cash flow
Rent remaining after modeled operating expenses and, when enabled, mortgage payment.
Cap rate
A property-level operating return that excludes financing and compares annual NOI with total property investment.
Cash-on-cash return
Annual cash flow divided by the cash invested in the modeled scenario.
Total ROI — Year 1
Modeled annual cash flow plus appreciation and first-year principal amortization divided by cash invested.
Calculation methodology
How the key metrics are calculated
These metrics should be read together. A property can have a reasonable cap rate but weak cash-on-cash return if financing costs are high.
NOI
In this calculator, modeled operating expenses include HOA, property tax, insurance and optional property management. Debt service is excluded from NOI.
(Monthly rent − operating expenses) × 12
Cap rate
Shows the operating yield of the asset before financing.
Annual NOI ÷ total property investment
Cash-on-cash return
Measures cash yield after modeled debt service.
Annual cash flow ÷ cash invested
Total ROI — Year 1
Adds non-cash wealth-building components to the modeled annual cash flow.
(Annual cash flow + appreciation + principal amortization) ÷ cash invested
Florida-specific considerations
What to consider before making a Florida decision
Rental performance in Florida depends heavily on the specific submarket, insurance environment, community rules and property condition.
Use market-supported rent rather than an asking-rent assumption whenever possible.
Include HOA restrictions, leasing rules and approval requirements before assuming the property can be rented as planned.
Insurance, maintenance and property taxes can materially change NOI and should be property-specific.
Vacancy, repairs, capital expenditures and leasing costs should be considered even if they are not all represented in the current simplified calculator inputs.
Frequently asked questions
Questions about this calculator
What is cap rate?
Cap rate is annual net operating income divided by the property investment value, before mortgage payments.
What is cash-on-cash return?
Cash-on-cash return compares annual cash flow after financing with the amount of cash invested.
Should appreciation be included in ROI?
It can be included as a scenario, but appreciation is uncertain. Review cash flow separately so the investment does not depend only on future price growth.
Does the calculator include property management?
Yes. You can turn property management on and enter a percentage of rent.
FLEXPRO Consulting
Want to turn the simulation into a property-specific analysis?
FLEXPRO can help organize assumptions, costs, location considerations and next steps for a more informed Florida real estate decision.