Rental Property Calculator1.1 - Google Play

The Rental Property Calculator is a simple tool designed to help you quickly and easily evaluate potential real estate investments. The calculator reminds you of all the quantitative factors you need to take into consideration and quickly calculates Cash Flow, Cap. Rate (Capitalization Rate), Taxable Income, and ROI (Return on Investment).

The emphasis in the Rental Property Calculator is speed. When you are looking at a rental property as a potential investment, you don't have a lot of time and you're constantly being distracted. You don't need a free app with advertising creating yet another distraction. You don't need to be jumping back and forth between applications to do different parts of the calculations you require.

As soon as you enter a purchase price for your rental property, the app will populate the rest of the fields making a number of assumptions and giving you a rough estimate for how good of an investment this is. You can then override any of these assumptions to get more accurate figures.

Fields included are:
Purchase Price ($)
Interest Rate (%)
Amortization Period (years)
Monthly Insurance ($)
Monthly Condo Fees ($)
Monthly Property Management Fees ($)
Expected Vacancy Rate (%)
Down Payment ($)
Monthly Mortgage Payments ($)
Interest Portion of Payment ($)
Annual Property Tax ($)
Monthly Maintenance Fees ($)
Primary, Interest, Taxes and Insurance ($)
Expected Monthly Rent ($)
Monthly Cash Flow ($)
Capitalization Rate (%)
Annual Taxable Income ($)
Annual Return on Investment (%)

PLEASE NOTE THE FOLLOWING:

● The results are automatically updated as modifications are made;

● If a calculated value is overridden, this new value is remembered until either the reset button is pressed or the app is restarted;

● The results are only shown once a non-zero "Purchase Price" has been entered;

● The "Down Payment" cannot be larger than the "Purchase Price;"

● The "Interest Rate" must be greater than zero;

● Any information that is missing or problematic shows its description in red as a reminder that it needs to be addressed;

● If the text "error" shows up in one of the fields, it's because a previous number used to calculate this field is generating an error (either infinity or a "not a number" error); make sure the values you've entered are realistic and the "error" should go away;

● Any additional monthly expenses should be added to the PITI (Primary, Interest, Taxes and Insurance) field.

In the next release we will also include IRR (Internal Rate of Return).