Rental Property Calculator
This rental property calculator models Florida cash flow after vacancy, maintenance and management. It shows what the property actually nets each month.
By Onias Derilus, Mortgage Capital · NMLS# 1859012 · Last Updated: June 2026
Cash invested assumes down payment plus about 3% closing costs. Florida insurance and HOA vary widely by county and building — use real quotes before you buy. Estimate only.
Cash flow is what the property leaves in your pocket after the mortgage, taxes, insurance, HOA and the reserves a lender expects you to carry. Gross rent minus the payment is not cash flow.
Vacancy, maintenance and management are real costs even when you self-manage — the months between tenants and the roof do not care whether you hired anyone.
These figures are estimates. For neutral, official guidance on mortgage costs and what lenders can charge, see the CFPB's Owning a Home guide.
How to Use This Calculator
- 1
Enter the purchase price, down payment and an illustrative rate.
- 2
Enter market rent, then monthly taxes, insurance and any HOA or condo dues.
- 3
Set vacancy, maintenance and management allowances — 8/8/10 is a common Florida starting point.
- 4
Read monthly cash flow and cash-on-cash return together; a property can cash-flow thinly and still return well, or the reverse.
The Formula & Assumptions
Effective rent = rent × (1 − vacancy%)
Operating costs = rent ×
(maintenance% + management%)
PITIA = P&I + taxes + insurance
+ HOA
Cash flow = effective rent
− operating costs − PITIA
The model charges vacancy against gross rent and charges maintenance and management as a percentage of gross rent, which is how most Florida investors underwrite a single-family or small multi-family rental.
Florida changes the arithmetic in two places: homeowners and wind insurance run well above the national average, and condo dues can move sharply after a milestone inspection or reserve study. Both belong in the taxes/insurance and HOA fields at real quoted numbers, not rules of thumb.
Cash-on-cash here assumes down payment plus roughly 3% in closing costs as the money invested. If you are also funding rehab, use the cash-on-cash calculator, which lets you enter rehab separately.
Frequently Asked Questions
What is a good cash flow on a Florida rental?
Many investors target $200 to $400 a month per door after all costs, but the right number depends on your goal. A Palm Beach condo may cash-flow thinly while appreciating, and a Treasure Coast single-family may cash-flow better with slower appreciation.
Should I include property management if I self-manage?
Yes. Charging management to the property tells you whether the deal works on its own merits. If it only cash-flows because you work for free, it is a job rather than an investment, and it will not survive you hiring out.
Why is Florida insurance such a large line item?
Wind and flood exposure make Florida homeowners insurance among the most expensive in the country, and condo master policies have risen sharply since the 2021 reserve and milestone-inspection laws. Always underwrite from a real quote for the specific property.
Does this work for short-term rentals?
Only loosely. Short-term rentals carry higher management, furnishing, cleaning and utility costs, and seasonal occupancy swings that an annual vacancy percentage hides. Use it for a rough floor, then model the season directly.
Ready to Turn Your Estimate Into a Real Pre-Approval?
Get a personalized rate quote and pre-approval from a licensed Florida mortgage broker — no obligation.
Rates are illustrative only. APR and payments vary by credit score, loan amount, and market conditions. Subject to credit approval. Not a commitment to lend. NMLS# 1859012. Equal Housing Lender.