Single-Family Rental NOI Calculator
Calculate single-family rental net operating income (NOI), including all standard operating expenses, vacancy, and management fees.
| Gross potential income | — |
| Vacancy loss | — |
| Effective gross income | — |
| Property tax | — |
| Insurance | — |
| Management | — |
| Repairs reserve | — |
| Capex reserve | — |
| HOA annual | — |
| Total OpEx | — |
| NOI annual | — |
Single-family rental NOI = gross potential income − vacancy − operating expenses (excluding mortgage). Used in cap rate calculation, valuation, and lender DSCR underwriting. Conservative reserves on repairs and capex prevent surprise losses.
50% Rule
Experienced SFR investors use the 50% rule: operating expenses average 50% of gross rent over time. If your projected OER is much lower, you're probably under-reserving for repairs/capex.
Capex vs Repairs
Repairs are routine maintenance (fix leaky faucet, paint touch-up) — deductible Schedule E. Capex (replace roof, HVAC, water heater) is capitalized + depreciated. Reserve 5-10% each.
Vacancy Rate Realism
National average ~6-7% SFR. Higher in college towns, transient areas. Lower in stable suburbs. Underwrite at 8-10% to absorb tenant turnover, eviction, and rehab time.
Management Fee
8-12% of rent for traditional PM. Self-managed = $0 fee but real time cost. Include opportunity cost in your analysis. PM also charges leasing fees (50-100% of one month).
Last updated May 2026. Sources: BiggerPockets Guide, Schedule E Pub 527.