Cash Flow and NOI: Calculation Guides and Benchmarks for Rental Investors

Cash flow is the number that matters most to landlords who hold for income. Not appreciation, not equity, not paper returns. The question every investor asks before buying a rental property is: after the mortgage, taxes, insurance, PM fees, vacancy, and maintenance, how much cash actually lands in my account each month?

The math is simple. Getting the inputs right is not. Most new investors underestimate vacancy (use 8%, not 5%), forget capital expenditure reserves (budget 5% of gross rent), and ignore the difference between gross cash flow and cash-on-cash return. Gross cash flow tells you what hits your bank account. Cash-on-cash return tells you how hard your invested capital is working. A property that cash flows $200/month sounds good until you realize you have $60K trapped in it, which is a 4% CoC return.

These posts cover how to calculate NOI, cash flow, and cash-on-cash return with real numbers. You will find benchmark ranges for different markets and strategies, the difference between a "good" CoC for a turnkey deal vs. a BRRR, and how to track cash flow across a growing portfolio so you always know which properties are pulling their weight.