Real estate deal calculator
Free real estate deal calculator: enter your deal once and get cap rate, DSCR, NOI, cash-on-cash, GRM, and LTV together — six CRE metrics, no paywall.
Enter your deal inputs once
Annual income minus operating expenses, before debt service
Gross scheduled rent minus vacancy and credit loss
Taxes, insurance, management, maintenance, utilities — NOT debt service or capex
Total annual scheduled rent before expenses — gross potential rent, not net
NOI minus annual debt service (principal + interest)
Asking price for acquisitions; appraised value for portfolio review
Total acquisition price including any seller credits
Total annual principal + interest payments on all property debt
Total principal balance on the first mortgage (and any senior liens)
Down payment + closing costs + upfront capex and reserves
All six metrics, computed together
Cap Rate (NOI / Property Value)
6.00%
A 6.00% unlevered yield — compare against comparable asset-class cap rates in your submarket.
DSCR (NOI / Annual Debt Service)
1.25x
A 1.25x DSCR — within the 1.20x–1.50x band most CRE lenders consider financeable. The property covers debt 1.25 times; serviceable for conventional lenders, though agency lenders may want closer to 1.25x–1.35x.
NOI (Effective Gross Income − Operating Expenses)
$120,000
NOI of $120,000 on an operating expense ratio of 40% (ESTIMATE — typical CRE operating expense ratios range 35–50% for stabilized multifamily; varies by asset class and market). Verify that your expense line includes property taxes, insurance, professional management, routine maintenance, and reserves for replacement.
Cash-on-Cash Return (Annual Cash Flow / Cash Invested)
12.00%
A 12.00% cash-on-cash return — above typical CRE benchmarks. High CoC often signals high leverage, below-market financing, or aggressive rent assumptions. Stress-test the deal at +50bps on your rate and +5% vacancy to confirm it still pencils.
Gross Rent Multiplier (Purchase Price / Gross Annual Rent)
10.00x
A GRM of 10.00x — in the moderate range for income-producing CRE. Use GRM as a quick filter to compare against submarket comps, then underwrite the full NOI, cap rate, and DSCR before making an offer. GRM is a screening shortcut, not a substitute for a full underwrite.
Loan-to-Value Ratio (Loan Amount / Property Value)
75.00%
An LTV of 75.00% — moderately high leverage. Conventional CRE lenders typically cap at 75–80% LTV for income-producing properties; above 75% often triggers stricter DSCR requirements or mortgage insurance. Bridge lenders and debt funds may go higher, but at a premium rate. Stress-test your DSCR at this leverage level.
Example result (default deal inputs — $2M acquisition):
Cap Rate (NOI / Property Value)
6.00%
A 6.00% unlevered yield — compare against comparable asset-class cap rates in your submarket.
DSCR (NOI / Annual Debt Service)
1.25x
A 1.25x DSCR — within the 1.20x–1.50x band most CRE lenders consider financeable. The property covers debt 1.25 times; serviceable for conventional lenders, though agency lenders may want closer to 1.25x–1.35x.
NOI (Effective Gross Income − Operating Expenses)
$120,000
NOI of $120,000 on an operating expense ratio of 40% (ESTIMATE — typical CRE operating expense ratios range 35–50% for stabilized multifamily; varies by asset class and market). Verify that your expense line includes property taxes, insurance, professional management, routine maintenance, and reserves for replacement.
Cash-on-Cash Return (Annual Cash Flow / Cash Invested)
12.00%
A 12.00% cash-on-cash return — above typical CRE benchmarks. High CoC often signals high leverage, below-market financing, or aggressive rent assumptions. Stress-test the deal at +50bps on your rate and +5% vacancy to confirm it still pencils.
Gross Rent Multiplier (Purchase Price / Gross Annual Rent)
10.00x
A GRM of 10.00x — in the moderate range for income-producing CRE. Use GRM as a quick filter to compare against submarket comps, then underwrite the full NOI, cap rate, and DSCR before making an offer. GRM is a screening shortcut, not a substitute for a full underwrite.
Loan-to-Value Ratio (Loan Amount / Property Value)
75.00%
An LTV of 75.00% — moderately high leverage. Conventional CRE lenders typically cap at 75–80% LTV for income-producing properties; above 75% often triggers stricter DSCR requirements or mortgage insurance. Bridge lenders and debt funds may go higher, but at a premium rate. Stress-test your DSCR at this leverage level.
Example: $2M property, $120K NOI, $96K debt service, $200K EGI / $80K OpEx, $30K cash flow on $250K invested, $200K gross rent, $1.5M loan. Adjust the inputs above to model your deal.
Where AI changes the answer
Most CRE calculators answer one question at a time — and that is exactly how good deals hide bad numbers. This real estate deal calculator computes all six core metrics from a single shared input set, so you read the WHOLE deal at once instead of pricing it on a single flattering figure. **Where AI changes the answer — reading metrics TOGETHER:** A strong-looking cap rate can quietly sit on a sub-1.20x DSCR: the asset yields well unlevered, but the financing barely covers debt, and most commercial lenders will not fund it. Seeing both numbers side by side surfaces that tension immediately — a single-metric cap-rate page never would. A low, attractive gross rent multiplier can mask a thin NOI: GRM ignores operating expenses entirely, so a property that looks cheap on price-to-rent may produce far less net income than a higher-GRM asset running lean. The workbench shows GRM and NOI together so the screening shortcut is checked against the real income. A high cash-on-cash return is often the product of aggressive leverage — and high leverage shows up as a high loan-to-value and a compressed DSCR. Reading cash-on-cash, LTV, and DSCR together tells you whether the return is earned or borrowed. Where AI extends this: it can read the full six-metric picture, flag the internal contradictions (a yield/coverage mismatch, a screen/income mismatch, a return/leverage mismatch), and point to the single input lever — NOI growth, lower leverage, or a different price — that would move the deal most. Any benchmark range it cites is a labelled ESTIMATE, not a quote, an appraisal, or lending advice: this is decision-support for your own underwriting, never a substitute for verified comparable sales, a full underwrite, or your lender's term sheet. Every metric here is computed by the same real formula modules that power the dedicated single-metric calculators — no fabricated stats, no paywall, no email required to see the result.
Questions real estate teams ask
What is a deal workbench and why compute six metrics together?
A deal workbench is a single calculator that computes a property's core return and risk metrics from one shared set of inputs, instead of forcing you to re-enter numbers into six separate tools. It matters because CRE metrics are interdependent: a strong cap rate can hide a weak DSCR, and a low GRM can hide a thin NOI. Reading cap rate, DSCR, NOI, cash-on-cash, GRM, and loan-to-value side by side surfaces those contradictions immediately, so you evaluate the whole deal rather than one flattering figure in isolation.
Which metrics does it compute and from what inputs?
The workbench computes six metrics: cap rate (NOI / property value), DSCR (NOI / annual debt service), NOI (effective gross income − operating expenses), cash-on-cash return (annual cash flow / total cash invested), gross rent multiplier (purchase price / gross annual rent), and loan-to-value (loan amount / property value). You enter ten deduped fields once — NOI, value, debt service, EGI, operating expenses, cash flow, cash invested, purchase price, gross rent, and loan amount — and each metric draws the inputs it needs. The math is identical to the dedicated single-metric calculators; nothing is re-derived.
Is the result gated behind an email or paywall?
No. Every metric renders immediately and is visible in the page's server-rendered HTML even with JavaScript disabled. There is an optional soft email capture if you want an AI-assisted read-out, but it never gates the numbers — you always see all six metrics for free. A metric whose inputs are blank or zero shows a neutral em-dash rather than a misleading or NaN value.
How does this differ from the single-metric calculators?
The single-metric calculators (cap rate, DSCR, NOI, cash-on-cash, GRM, LTV) each go deep on one number — with their own benchmarks, interpretation bands, FAQ, and how-to guidance. The deal workbench is the wide view: it computes all six at once so you can spot how they interact across a single deal. Use the workbench to read the whole deal at a glance, then open any single-metric calculator (each links across) to pressure-test one figure in detail. The single-metric pages remain fully intact — the workbench is additive, not a replacement.
More free CRE tools
- Cap Rate Calculator for CRE Investors
Free cap rate calculator: enter NOI and property value to get your capitalization rate in seconds — built for CRE investors sizing up acquisition targets.
- DSCR Calculator for CRE Investors
Free dscr calculator: enter NOI and annual debt service to check your debt coverage ratio — built for CRE investors sizing lender-ready acquisitions.
- NOI Calculator for Real Estate Investors
Free noi calculator: enter effective gross income and operating expenses to compute net operating income — for CRE investors building accurate underwriting.