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Real estate & rental

Real Estate Rental Yield Calculator

Gross and net rental yield, and the gap between them that expenses create.

Your numbers

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Result

Net yield 6.61%
Gross yield 10.91%
Net annual income $25,460
Yield on total cost 6.38%
Gap between gross and net 4.30%
Gross yield is 10.91% and net yield 6.61%. Vacancy and expenses account for the 4.30% difference, which is why advertised gross yields are close to meaningless.

An arithmetic tool, not investment advice. Property returns depend on the local market, the condition of the building, financing terms and tax position, none of which a calculator can see. Verify the income and expense figures against actual statements rather than a seller's projection. Vacancy, repairs and capital expenditure are the three line items most often left out of a listing's numbers, and together they routinely account for 20% to 30% of gross rent. A pro forma that omits them is a marketing document, not an analysis. Yield on total cost, which includes purchase costs, is the honest denominator for judging a new acquisition, because that is the money actually committed.

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Questions

About this calculator

Why is gross yield quoted so often?

Because it is flattering and easy. It requires no expense data and is always the larger number, which is why marketing material prefers it.

What should the gap be?

Typically 30% to 45% of gross, more where the landlord pays utilities or the building is old. A quoted net yield within a point of gross usually means expenses were not counted properly.

The formula

gross yield = annual rent / value; net yield = (effective rent - expenses) / value

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Estimating is the easy part

The jobs you never hear about cost more than the ones you mis-measure. BDEVY builds the marketing, systems and automation that bring them in.