Investor tools
Rental Investment Calculator
Built for Cleveland and Cuyahoga County: real Section 8 rents by zip, local property-tax estimates, and side-by-side Buy & Hold vs. Buy, Rehab, Refinance math — plus the most you can pay and still hit your number.
Unit 1
$1,070 max × 90% = $963/mo
Unit 2
$1,070 max × 90% = $963/mo
Starting estimate — edit me.
Starting estimate — edit me.
Starting estimate — edit me.
Starting estimate — edit me.
Below target
Buy & Hold: 6.24% cash-on-cash vs. your 15% target.
Monthly cash flow
$339
Cash-on-cash return
6.24%
Cash needed up front
$65,191
Cash left in after refinance
—
Max offer price
$72,000
DSCR
1.68
Section 8 vs. market rent
Section 8 (90% of max): $1,926/mo · Market: $2,000/mo · Market is $74 higher
Buy & Hold vs. Buy, Rehab, Refinance
Monthly cash flow
Cash in the deal
Cash-on-cash
Where the money goes (yearly)
- Scheduled rent
- $23,112
- Operating expenses
- −$8,352
- Net operating income
- $12,912
- Cap rate
- 11.23%
- Mortgage payments
- −$7,685
- CapEx reserve
- −$1,156
- Cash flow
- $4,071
- Down payment
- $28,750
- Closing costs
- $6,441
Estimates for educational purposes only. Financing figures are illustrative; your lender confirms actual rates and terms. Not a loan offer or investment advice.
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How these numbers are calculated
Rent. Section 8 rent per unit = the HUD FY2026 small-area Fair Market Rent CMHA uses for that zip and bedroom count × your rent %. Units with 5+ bedrooms use the 4-bedroom value. Market rent is whatever you enter.
Operating expenses. Vacancy = % of scheduled rent (monthly rent × 12). Management = % of collected rent after vacancy. Maintenance and the CapEx reserve = % of scheduled rent. Operating expenses include taxes, insurance, HOA, owner-paid utilities, management, maintenance and other costs. Taxes are estimated as a % of purchase price using 2025 Cuyahoga County Fiscal Officer rates for the zip's city (residential for 1–3 units, commercial for 4+); insurance is estimated at $900 per unit per year. Replace both with real figures once you have a property.
NOI, cap rate, DSCR. NOI = collected rent − operating expenses (before the mortgage and CapEx reserve). Cap rate = NOI ÷ purchase price. DSCR = NOI ÷ yearly mortgage payments; lenders may calculate it differently.
Cash flow. NOI − yearly mortgage payments − CapEx reserve. Cash-on-cash return = yearly cash flow ÷ cash in the deal.
Buy & Hold. Loan = price − down payment. Closing costs = % of loan + a flat amount. Cash needed = down payment + closing costs + rehab.
Buy, Rehab, Refinance. Rehab loan = the lower of 90% of (price + rehab) and 70% of value after repairs. Cash up front = price + rehab − rehab loan + lender costs (% of loan + flat fee) + interest-only payments while you renovate + holding costs per unit per month. At refinance, the new loan = 75% of value after repairs; cash back = new loan − rehab loan − refinance closing costs. Cash left in = cash up front − cash back. If cash left in is $0 or less, the deal shows "All cash back."
Max offer price. We search for the highest purchase price that still meets your target return, re-estimating taxes and loan amounts at every price and holding everything else constant.
Estimates for educational purposes only. Financing figures are illustrative; your lender confirms actual rates and terms. Not a loan offer or investment advice. Nothing here is a lending, accounting, tax, or investment recommendation.
Baird Team is a real estate team of Berkshire Hathaway HomeServices Professional Realty. Equal Housing Opportunity.