Florida ownership costs diverge from national averages in two directions at once. Property tax is held down by the homestead exemption and the Save Our Homes assessment cap, while homeowners insurance runs well above the national norm and is the line most calculators understate. Model both before judging what a Florida home costs to carry.
One stabilized year of property operations, from gross rent down to cash flow after debt service, with going-in return metrics. Every assumption is visible, and everything updates as you type.
Lender conventions, not rules: DSCR minimums commonly run 1.20 to 1.35x, and debt yield floors 8 to 10% by asset class and market. Enter your lender’s numbers.
Parking, laundry, storage, pet and application fees, plus any utility or CAM costs recovered from tenants.
The share of rental income lost to empty units and turnover, expressed as a percent of potential rental income.
Vacancy is applied to rental income only; other income is not vacancy-adjusted.
Enter only what the owner pays. Water, sewer, gas, electric.
Outsourced vendors. Trash, landscaping, snow removal, pest control, elevator.
Superintendent, concierge, caretaker, and cleaning wages. Do not include the off-site management fee or vendors already entered under contract services.
What a property manager charges to operate the property, usually a percent of collected income rather than a fixed amount.
Money set aside each year for components that wear out on long cycles: roofs, mechanicals, appliances. Underwriters treat it as an operating cost even though it is not spent every year.
Reserves are deducted above the NOI line here, the lender and appraisal convention. Broker packages and NCREIF-style comparisons typically exclude them; excluding them here would show NOI $434,920, cap 6.26%, DSCR 1.39x.
Typical stabilized ratios run roughly 35 to 45%.
The loan amount as a percent of total project cost. Lenders cap it; the rest is the investor’s equity.
Illustrative projection only. Not advice and not a forecast.
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One click fills every assumption.
The rest of this suite. Each answers one question.
It lowers the assessed value your property tax is calculated on, which lowers the tax portion of the payment. Up to $50,000 comes off assessed value for an eligible primary residence, with the second $25,000 not applying to school taxes. The exemption applies only to a primary residence, so an investment property or second home does not get it.
Plain-language definitions of every term this calculator uses.
The rent the property would collect in a year with every unit occupied at market rent, before vacancy or any expenses.
Parking, laundry, storage, pet and application fees, plus any utility or CAM costs recovered from tenants.
The share of rental income lost to empty units and turnover, expressed as a percent of potential rental income.
Potential rental income plus other income, minus the vacancy allowance. The income the property realistically collects in a year.
The recurring costs of running a property: property taxes, insurance, maintenance, utilities, and property management fees. Debt service, depreciation, capital expenditures, and income taxes are not operating expenses.
Enter only what the owner pays. Water, sewer, gas, electric.
Outsourced vendors. Trash, landscaping, snow removal, pest control, elevator.
Superintendent, concierge, caretaker, and cleaning wages. Do not include the off-site management fee or vendors already entered under contract services.
What a property manager charges to operate the property, usually a percent of collected income rather than a fixed amount.
Money set aside each year for components that wear out on long cycles: roofs, mechanicals, appliances. Underwriters treat it as an operating cost even though it is not spent every year.
Effective gross income minus all operating expenses for one year. NOI excludes debt service, depreciation, capital expenditures, and income taxes.
The total loan payments due over a period, principal and interest combined. For an annual pro forma, it is twelve monthly mortgage payments.
What is left for the owner after operating expenses and debt service are paid, before income taxes. The pro forma’s bottom line.
Purchase price plus closing costs plus renovation budget. The full outlay the returns are measured against.
The loan amount as a percent of total project cost. Lenders cap it; the rest is the investor’s equity.
The cash the investor puts in: total cost minus the loan amount.
First-year NOI divided by purchase price. The yield at acquisition, before any financing.
First-year NOI divided by total cost, including closing and renovation. It shows whether the added spending is earning its keep.
Cash flow before tax divided by initial equity. The levered annual return on the actual cash invested.