Cap rate calculator (real estate)

Cap rate (capitalisation rate) = Net Operating Income ÷ Property value × 100. It is the unlevered annual return a property would produce if bought outright. A higher cap rate means a higher yielding (often higher risk) deal.

Cap rate
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Gross annual rent
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Effective gross income
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Total expenses
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NOI (Net Operating Income)
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Gross yield
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Verdict

What's a "good" cap rate?

  • 3 – 4% — Class A commercial in metros / very low risk (often considered low yield)
  • 5 – 7% — Typical residential rentals in Tier-1 cities
  • 8%+ — Higher-risk properties, secondary cities, older buildings

Cap rate ignores leverage and financing — it measures the asset itself.