Rental property cash flow calculator
An owner net-income worksheet for Las Vegas rentals. It counts the costs that turn a "positive" deal negative: vacancy, management and leasing fees, HOA dues, and reserves for the big repairs.
Last reviewed
How the numbers are calculated
- Gross scheduled rent = monthly rent × 12.
- Effective gross income = gross rent − vacancy & credit loss + other income.
- Management = fee % × rent actually collected. Leasing = per-lease fee × (12 ÷ average stay in months), the expected number of new leases per year. Renewals are charged in years without a new lease.
- Operating expenses = management + leasing + renewals + HOA + tax + insurance + owner-paid utilities + repairs + capital reserve.
- Net operating income (NOI) = effective gross income − operating expenses.
- Cash flow = NOI − mortgage principal & interest.
Worked example
The example loaded above is a $2,100/month home with a $65 HOA, a $2,200 tax bill and an 8% management fee. It produces NOI of $14,700 a year and cash flow of −$5,100 a year (−$425/month), with a 3.67% cap rate on a $400,000 value. The example numbers are illustrative, not a market average. Replace them with your own.
Nevada details most calculators miss
Your tax bill can grow faster once the home is a rental
Nevada caps how fast a property-tax bill can rise. A home that is the owner's primary residence gets a 3% cap (NRS 361.4723). A home that isn't owner-occupied, including a rental, falls under the general cap of up to 8% a year (NRS 361.4722). If you move out and rent your former home, update your tax projection. Clark County describes the caps on its tax abatement page.
The rental 3% cap. A residential rental can also qualify for the 3% cap when every tenant's rent is at or below HUD's Fair Market Rent (NRS 361.4724). Owners claim it through the Assessor's annual rental affidavit. FY2026 Fair Market Rents for the Las Vegas-Henderson-North Las Vegas, NV MSA:
| Unit size | FY2026 FMR |
|---|---|
| Studio / efficiency | $1,333 |
| 1 bedroom | $1,478 |
| 2 bedrooms | $1,735 |
| 3 bedrooms | $2,413 |
| 4 bedrooms | $2,764 |
Source: HUD USER FMR Documentation System, FY2026 (effective Oct 1, 2025 – Sep 30, 2026). HUD has published FY2027 values effective Oct 1, 2026. Confirm the current figures and the affidavit rules with the Clark County Assessor before relying on them.
Advertised rent must be all-in
Since October 1, 2025, Nevada requires rent to be shown as one figure that includes every mandatory fee, in listings, ads and the lease (NRS 118A.200). If you planned on charging tenants a separate mandatory fee, count it inside the rent above, not as extra income.
HOA dues and rental rules
Many Las Vegas homes are in HOAs. Beyond the dues, since July 1, 2026 an HOA whose declaration allows it can restrict rentals under NRS 116.335. Read renting a home in a Las Vegas HOA before you buy.
Limitations
- Results are pre-tax and in today's dollars for one year. For a multi-year hold comparison, use the rent or sell calculator.
- Vacancy and repair percentages are planning assumptions. Your actual results depend on the home, its condition and the market.
- Insurance quotes for rentals vary widely. Enter a real quote if you have one.
Questions about rental cash flow
What is a good cash flow for a Las Vegas rental?
There's no single target. It depends on how much cash you put in and what you're trying to achieve. What matters more is that cash flow stays positive after realistic reserves for vacancy, repairs and big-ticket replacements. Many online calculators leave those out, which makes a thin deal look healthy. If the result here is only positive with reserves set to zero, treat that as a warning.
How much should I budget for repairs on a Las Vegas rental?
This tool defaults to 5% of rent for routine repairs plus 5% for a capital reserve. These are planning assumptions, not measured Las Vegas averages. Older homes, pools and original HVAC systems need more. In this climate, air-conditioning is an essential service under Nevada law (NRS 118A.380), so a failing A/C system can't wait. Budget for replacement before it fails.
What property tax should I enter?
Enter the actual annual amount from your Clark County tax bill, which you can look up on the County Treasurer's site. Don't estimate from the purchase price. Nevada taxes 35% of a statutory "taxable value" that is usually well below market value, and abatement caps limit how fast a bill can grow.
What is the difference between cap rate and cash-on-cash return?
Cap rate is net operating income ÷ property value. It ignores financing, so you can compare properties with each other. Cash-on-cash is annual cash flow after the mortgage ÷ the cash you actually invested. It tells you what your own money earns this year.
What does break-even rent mean?
It's the monthly rent at which annual cash flow would be exactly zero, holding every other input constant. Because management, vacancy and reserve costs scale with rent, the tool solves for it rather than adding up fixed costs.
Related
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