{"product_id":"cap-rate","title":"Cap Rate Calculator","description":"\u003cstyle\u003e\n.capr-calculator {\n  --ink: #0f172a;\n  --muted: #475569;\n  --border: #e2e8f0;\n  --surface: #ffffff;\n  --tint: #f8fafc;\n  --primary: #1d4ed8;\n  --accent: #c2410c;\n  --accent-hover: #9a3412;\n  --chart-1: #1e40af;\n  --chart-2: #0d9488;\n  --chart-3: #7c3aed;\n  --chart-4: #be185d;\n  --chart-5: #334155;\n  width: 100%;\n  max-width: 1200px;\n  margin: 0 auto;\n  padding: 24px;\n  color: var(--ink);\n  background: var(--tint);\n  border: 1px solid var(--border);\n  border-radius: 8px;\n  font-family: Arial, Helvetica, sans-serif;\n  font-size: 15px;\n  line-height: 1.55;\n  container-type: inline-size;\n}\n.capr-calculator,\n.capr-calculator *,\n.capr-calculator *::before,\n.capr-calculator *::after {\n  box-sizing: border-box;\n}\n.capr-calculator * {\n  min-width: 0;\n}\n.capr-calculator h2,\n.capr-calculator h3,\n.capr-calculator p {\n  margin-top: 0;\n}\n.capr-calculator h2 {\n  margin-bottom: 8px;\n  font-size: 24px;\n  line-height: 1.25;\n  font-weight: 700;\n  letter-spacing: -0.02em;\n}\n.capr-calculator h3 {\n  margin-bottom: 16px;\n  font-size: 18px;\n  line-height: 1.35;\n  font-weight: 650;\n}\n.capr-calculator a {\n  color: var(--primary);\n  text-underline-offset: 2px;\n}\n.capr-calculator a:hover {\n  text-decoration-thickness: 2px;\n}\n.capr-calculator button,\n.capr-calculator input {\n  font: inherit;\n}\n.capr-calculator button {\n  min-height: 44px;\n  cursor: pointer;\n}\n.capr-calculator button:focus-visible,\n.capr-calculator input:focus-visible,\n.capr-calculator summary:focus-visible {\n  outline: 3px solid var(--primary);\n  outline-offset: 2px;\n}\n.capr-calculator .capr-header {\n  margin-bottom: 16px;\n}\n.capr-calculator .capr-subtitle {\n  max-width: 760px;\n  margin-bottom: 16px;\n  color: var(--muted);\n}\n.capr-calculator .capr-pills {\n  display: flex;\n  flex-wrap: wrap;\n  gap: 8px;\n}\n.capr-calculator .capr-pill {\n  display: inline-flex;\n  align-items: baseline;\n  gap: 8px;\n  padding: 6px 10px;\n  border: 1px solid var(--border);\n  border-radius: 999px;\n  background: var(--surface);\n  color: var(--muted);\n  font-size: 13px;\n  font-weight: 500;\n  box-shadow: 0 1px 2px rgba(15, 23, 42, 0.06);\n}\n.capr-calculator .capr-pill strong {\n  color: var(--ink);\n  font-variant-numeric: tabular-nums;\n}\n.capr-calculator .capr-toolbar {\n  display: flex;\n  flex-wrap: wrap;\n  align-items: center;\n  gap: 8px;\n  margin-bottom: 16px;\n}\n.capr-calculator .capr-btn {\n  display: inline-flex;\n  align-items: center;\n  justify-content: center;\n  gap: 10px;\n  padding: 12px 18px;\n  border-radius: 6px;\n  border: 1px solid transparent;\n  font-size: 15px;\n  font-weight: 700;\n  line-height: 1.2;\n  white-space: nowrap;\n  transition: background-color 0.16s ease, border-color 0.16s ease, transform 0.16s ease, box-shadow 0.16s ease;\n}\n.capr-calculator .capr-btn:hover {\n  box-shadow: 0 2px 6px rgba(15, 23, 42, 0.12);\n}\n.capr-calculator .capr-btn:active {\n  transform: translateY(1px);\n}\n.capr-calculator .capr-btn-primary {\n  color: #ffffff;\n  background: var(--accent);\n  border-color: var(--accent);\n}\n.capr-calculator .capr-btn-primary:hover {\n  background: var(--accent-hover);\n  border-color: var(--accent-hover);\n}\n.capr-calculator .capr-btn-secondary {\n  color: var(--ink);\n  background: var(--surface);\n  border-color: #64748b;\n}\n.capr-calculator .capr-icon {\n  width: 18px;\n  height: 18px;\n  flex: 0 0 auto;\n}\n.capr-calculator .capr-workspace {\n  display: grid;\n  grid-template-columns: minmax(0, 1fr);\n  gap: 16px;\n  align-items: start;\n  margin-bottom: 16px;\n}\n.capr-calculator .capr-panel,\n.capr-calculator .capr-chart-card,\n.capr-calculator .capr-table-card,\n.capr-calculator .capr-education {\n  background: var(--surface);\n  border: 1px solid var(--border);\n  border-radius: 8px;\n  box-shadow: 0 1px 2px rgba(15, 23, 42, 0.06);\n}\n.capr-calculator .capr-panel {\n  padding: 20px;\n}\n.capr-calculator .capr-form-grid {\n  display: grid;\n  grid-template-columns: repeat(auto-fit, minmax(220px, 1fr));\n  gap: 16px;\n}\n.capr-calculator .capr-field {\n  display: flex;\n  flex-direction: column;\n  gap: 6px;\n}\n.capr-calculator .capr-label,\n.capr-calculator .capr-legend-title {\n  color: var(--ink);\n  font-size: 14px;\n  font-weight: 600;\n}\n.capr-calculator .capr-control {\n  position: relative;\n  display: flex;\n  align-items: center;\n}\n.capr-calculator .capr-input {\n  width: 100%;\n  min-height: 44px;\n  padding: 10px 40px 10px 34px;\n  color: var(--ink);\n  background: #ffffff;\n  border: 1px solid #64748b;\n  border-radius: 6px;\n  font-size: 15px;\n  font-variant-numeric: tabular-nums;\n  transition: border-color 0.16s ease, box-shadow 0.16s ease;\n}\n.capr-calculator .capr-input:hover {\n  border-color: #475569;\n}\n.capr-calculator .capr-input:focus {\n  border-color: var(--primary);\n  box-shadow: 0 0 0 3px rgba(29, 78, 216, 0.12);\n  outline: none;\n}\n.capr-calculator .capr-input[aria-invalid=\"true\"] {\n  border-color: #b91c1c;\n}\n.capr-calculator .capr-affix {\n  position: absolute;\n  z-index: 1;\n  color: var(--muted);\n  font-size: 14px;\n  font-weight: 600;\n  pointer-events: none;\n}\n.capr-calculator .capr-prefix {\n  left: 12px;\n}\n.capr-calculator .capr-suffix {\n  right: 12px;\n}\n.capr-calculator .capr-helper,\n.capr-calculator .capr-error,\n.capr-calculator .capr-chart-caption,\n.capr-calculator .capr-table-note,\n.capr-calculator .capr-formula-note {\n  font-size: 13px;\n  font-weight: 500;\n}\n.capr-calculator .capr-helper {\n  min-height: 40px;\n  color: var(--muted);\n}\n.capr-calculator .capr-error {\n  min-height: 20px;\n  color: #991b1b;\n}\n.capr-calculator .capr-segmented-wrap {\n  grid-column: 1 \/ -1;\n}\n.capr-calculator .capr-segmented {\n  display: inline-grid;\n  grid-template-columns: repeat(2, minmax(118px, 1fr));\n  gap: 4px;\n  padding: 4px;\n  background: #e2e8f0;\n  border-radius: 7px;\n}\n.capr-calculator .capr-segmented input {\n  position: absolute;\n  opacity: 0;\n  pointer-events: none;\n}\n.capr-calculator .capr-segmented label {\n  display: flex;\n  align-items: center;\n  justify-content: center;\n  min-height: 36px;\n  padding: 7px 10px;\n  border-radius: 5px;\n  color: var(--muted);\n  background: transparent;\n  font-size: 13px;\n  font-weight: 700;\n  cursor: pointer;\n}\n.capr-calculator .capr-segmented input:checked + label {\n  color: var(--ink);\n  background: #ffffff;\n  box-shadow: 0 1px 2px rgba(15, 23, 42, 0.10);\n}\n.capr-calculator .capr-segmented input:focus-visible + label {\n  outline: 3px solid var(--primary);\n  outline-offset: 1px;\n}\n.capr-calculator .capr-result-primary {\n  padding: 18px;\n  margin-bottom: 12px;\n  border: 1px solid #bfdbfe;\n  border-radius: 8px;\n  background: #eff6ff;\n}\n.capr-calculator .capr-result-label {\n  color: var(--muted);\n  font-size: 14px;\n  font-weight: 600;\n}\n.capr-calculator .capr-result-value {\n  margin-top: 2px;\n  color: var(--primary);\n  font-size: 30px;\n  line-height: 1.2;\n  font-weight: 700;\n  font-variant-numeric: tabular-nums;\n  overflow-wrap: anywhere;\n}\n.capr-calculator .capr-result-interpretation {\n  margin: 8px 0 0;\n  color: var(--muted);\n  font-size: 13px;\n  font-weight: 500;\n}\n.capr-calculator .capr-metrics {\n  display: grid;\n  grid-template-columns: repeat(auto-fit, minmax(150px, 1fr));\n  gap: 8px;\n}\n.capr-calculator .capr-metric {\n  padding: 14px;\n  border: 1px solid var(--border);\n  border-radius: 7px;\n  background: var(--tint);\n}\n.capr-calculator .capr-metric span {\n  display: block;\n  color: var(--muted);\n  font-size: 13px;\n  font-weight: 500;\n}\n.capr-calculator .capr-metric strong {\n  display: block;\n  margin-top: 3px;\n  color: var(--ink);\n  font-size: 20px;\n  line-height: 1.25;\n  font-weight: 700;\n  font-variant-numeric: tabular-nums;\n  overflow-wrap: anywhere;\n}\n.capr-calculator .capr-formula-note {\n  margin: 12px 0 0;\n  padding: 10px 12px;\n  color: var(--muted);\n  background: var(--tint);\n  border: 1px solid var(--border);\n  border-radius: 6px;\n}\n.capr-calculator .capr-chart-card,\n.capr-calculator .capr-table-card {\n  padding: 20px;\n  margin-bottom: 16px;\n}\n.capr-calculator .capr-chart-intro {\n  margin-bottom: 16px;\n  color: var(--muted);\n}\n.capr-calculator .capr-chart-cluster {\n  display: grid;\n  grid-template-columns: minmax(0, 1fr);\n  align-items: center;\n  justify-content: center;\n  gap: 20px;\n  max-width: 760px;\n  margin: 0 auto;\n}\n.capr-calculator .capr-chart-details {\n  display: grid;\n  gap: 16px;\n  align-content: center;\n}\n.capr-calculator .capr-chart-visual {\n  display: grid;\n  place-items: center;\n  width: min(100%, 320px);\n  margin: 0 auto;\n}\n.capr-calculator .capr-chart-svg {\n  display: block;\n  width: min(100%, 280px);\n  height: auto;\n  aspect-ratio: 1 \/ 1;\n}\n.capr-calculator .capr-chart-center-label {\n  fill: var(--muted);\n  font-size: 13px;\n  font-weight: 600;\n  text-anchor: middle;\n}\n.capr-calculator .capr-chart-center-value {\n  fill: var(--ink);\n  font-size: 19px;\n  font-weight: 700;\n  text-anchor: middle;\n  font-variant-numeric: tabular-nums;\n}\n.capr-calculator .capr-legend {\n  display: grid;\n  gap: 10px;\n  justify-content: center;\n}\n.capr-calculator .capr-legend-row {\n  display: grid;\n  grid-template-columns: 12px minmax(96px, 1fr) max-content max-content;\n  align-items: center;\n  justify-content: start;\n  gap: 8px 12px;\n  font-size: 13px;\n  color: var(--muted);\n}\n.capr-calculator .capr-swatch {\n  width: 12px;\n  height: 12px;\n  border-radius: 3px;\n}\n.capr-calculator .capr-legend-name {\n  color: var(--ink);\n  font-weight: 600;\n}\n.capr-calculator .capr-legend-value,\n.capr-calculator .capr-legend-share {\n  font-variant-numeric: tabular-nums;\n  white-space: nowrap;\n}\n.capr-calculator .capr-legend-share {\n  color: var(--muted);\n}\n.capr-calculator .capr-chart-caption,\n.capr-calculator .capr-table-note {\n  margin-top: 16px;\n  padding: 10px 12px;\n  color: var(--muted);\n  background: var(--tint);\n  border: 1px solid var(--border);\n  border-radius: 6px;\n}\n.capr-calculator .capr-chart-details .capr-chart-caption {\n  margin-top: 0;\n}\n.capr-calculator .capr-chart-empty {\n  display: none;\n  max-width: 520px;\n  margin: 0 auto;\n  padding: 14px;\n  text-align: center;\n  color: var(--muted);\n  background: var(--tint);\n  border: 1px dashed #94a3b8;\n  border-radius: 6px;\n  font-size: 13px;\n  font-weight: 500;\n}\n.capr-calculator .capr-safe-stack .capr-chart-cluster {\n  grid-template-columns: minmax(0, 1fr);\n  row-gap: 24px;\n}\n.capr-calculator .capr-safe-stack .capr-chart-details {\n  gap: 20px;\n}\n.capr-calculator .capr-table-overflow {\n  width: 100%;\n  overflow-x: auto;\n  border: 1px solid var(--border);\n  border-radius: 7px;\n}\n.capr-calculator .capr-table {\n  width: 100%;\n  min-width: 620px;\n  border-collapse: collapse;\n  font-size: 14px;\n}\n.capr-calculator .capr-table th,\n.capr-calculator .capr-table td {\n  padding: 11px 12px;\n  text-align: left;\n  border-bottom: 1px solid var(--border);\n}\n.capr-calculator .capr-table th {\n  color: #ffffff;\n  background: var(--ink);\n  font-size: 13px;\n  font-weight: 700;\n  white-space: nowrap;\n}\n.capr-calculator .capr-table td {\n  color: var(--ink);\n  background: #ffffff;\n}\n.capr-calculator .capr-table tbody tr:last-child td {\n  border-bottom: 0;\n}\n.capr-calculator .capr-table tbody tr:hover td {\n  background: #f8fafc;\n}\n.capr-calculator .capr-table .capr-number {\n  text-align: right;\n  font-variant-numeric: tabular-nums;\n  white-space: nowrap;\n}\n.capr-calculator .capr-table .capr-current-row td {\n  background: #eff6ff;\n  font-weight: 700;\n}\n.capr-calculator .capr-safe-table-stack .capr-table-note {\n  margin-top: 20px;\n}\n.capr-calculator .capr-education {\n  padding: 24px;\n}\n.capr-calculator .capr-education section + section {\n  margin-top: 24px;\n}\n.capr-calculator .capr-education p,\n.capr-calculator .capr-education li {\n  color: #334155;\n}\n.capr-calculator .capr-education ul {\n  margin: 0;\n  padding-left: 20px;\n}\n.capr-calculator .capr-education li + li {\n  margin-top: 8px;\n}\n.capr-calculator .capr-sr-only {\n  position: absolute;\n  width: 1px;\n  height: 1px;\n  padding: 0;\n  margin: -1px;\n  overflow: hidden;\n  clip: rect(0, 0, 0, 0);\n  white-space: nowrap;\n  border: 0;\n}\n@container (min-width: 590px) {\n  .capr-calculator .capr-chart-cluster {\n    grid-template-columns: minmax(220px, 260px) minmax(0, 1fr);\n    column-gap: 20px;\n  }\n}\n@container (min-width: 850px) {\n  .capr-calculator .capr-workspace {\n    grid-template-columns: minmax(0, 1.08fr) minmax(320px, 0.92fr);\n  }\n}\n@container (max-width: 420px) {\n  .capr-calculator {\n    padding: 12px;\n  }\n  .capr-calculator .capr-panel,\n  .capr-calculator .capr-chart-card,\n  .capr-calculator .capr-table-card,\n  .capr-calculator .capr-education {\n    padding: 16px;\n  }\n  .capr-calculator .capr-form-grid {\n    grid-template-columns: minmax(0, 1fr);\n  }\n  .capr-calculator .capr-segmented {\n    width: 100%;\n    grid-template-columns: repeat(2, minmax(0, 1fr));\n  }\n  .capr-calculator .capr-btn {\n    flex: 1 1 auto;\n  }\n  .capr-calculator .capr-legend {\n    width: 100%;\n    justify-content: stretch;\n  }\n  .capr-calculator .capr-legend-row {\n    width: 100%;\n    grid-template-columns: 12px minmax(0, 1fr) auto;\n    gap: 6px 8px;\n  }\n  .capr-calculator .capr-legend-name {\n    grid-column: 2 \/ 4;\n  }\n  .capr-calculator .capr-legend-value {\n    grid-column: 2;\n  }\n  .capr-calculator .capr-legend-share {\n    grid-column: 3;\n  }\n}\n\u003c\/style\u003e\n\u003cdiv class=\"capr-calculator\" data-calculator-root\u003e\n  \u003cheader class=\"capr-header\"\u003e\n    \u003ch2\u003eCap Rate Calculator\u003c\/h2\u003e\n    \u003cp class=\"capr-subtitle\"\u003eEstimate a property's capitalization rate from its value, annual rental income, vacancy, and operating expense assumptions.\u003c\/p\u003e\n    \u003cdiv class=\"capr-pills\" aria-label=\"Live calculation summary\"\u003e\n      \u003cspan class=\"capr-pill\"\u003eCap rate \u003cstrong data-capr-pill=\"cap-rate\"\u003e11.76%\u003c\/strong\u003e\u003c\/span\u003e\n      \u003cspan class=\"capr-pill\"\u003eNOI \u003cstrong data-capr-pill=\"noi\"\u003e$23,520.00\u003c\/strong\u003e\u003c\/span\u003e\n      \u003cspan class=\"capr-pill\"\u003eEffective income \u003cstrong data-capr-pill=\"effective-income\"\u003e$29,400.00\u003c\/strong\u003e\u003c\/span\u003e\n      \u003cspan class=\"capr-pill\"\u003eOperating costs \u003cstrong data-capr-pill=\"operating-costs\"\u003e$5,880.00\u003c\/strong\u003e\u003c\/span\u003e\n    \u003c\/div\u003e\n  \u003c\/header\u003e\n\n  \u003cdiv class=\"capr-toolbar\" aria-label=\"Calculator actions\"\u003e\n    \u003cbutton class=\"capr-btn capr-btn-primary\" type=\"button\" data-capr-action=\"download\"\u003e\n      \u003csvg class=\"capr-icon\" viewbox=\"0 0 24 24\" aria-hidden=\"true\" focusable=\"false\"\u003e\u003cpath fill=\"currentColor\" d=\"M12 3a1 1 0 0 1 1 1v8.59l2.3-2.3a1 1 0 1 1 1.4 1.42l-4 4a1 1 0 0 1-1.4 0l-4-4a1 1 0 1 1 1.4-1.42l2.3 2.3V4a1 1 0 0 1 1-1Zm-7 14a1 1 0 0 1 1 1v1h12v-1a1 1 0 1 1 2 0v2a1 1 0 0 1-1 1H5a1 1 0 0 1-1-1v-2a1 1 0 0 1 1-1Z\"\u003e\u003c\/path\u003e\u003c\/svg\u003e\n      \u003cspan\u003eDownload Excel\u003c\/span\u003e\n    \u003c\/button\u003e\n    \u003cbutton class=\"capr-btn capr-btn-secondary\" type=\"button\" data-capr-action=\"reset\"\u003eReset\u003c\/button\u003e\n  \u003c\/div\u003e\n\n  \u003cdiv class=\"capr-workspace\"\u003e\n    \u003csection class=\"capr-panel\" aria-labelledby=\"capr-inputs-heading\"\u003e\n      \u003ch3 id=\"capr-inputs-heading\"\u003eProperty assumptions\u003c\/h3\u003e\n      \u003cdiv class=\"capr-form-grid\"\u003e\n        \u003cdiv class=\"capr-field\"\u003e\n          \u003clabel class=\"capr-label\" for=\"capr-property-value\"\u003eProperty value\u003c\/label\u003e\n          \u003cdiv class=\"capr-control\"\u003e\n            \u003cspan class=\"capr-affix capr-prefix\" aria-hidden=\"true\"\u003e$\u003c\/span\u003e\n            \u003cinput class=\"capr-input\" id=\"capr-property-value\" data-capr-input=\"property-value\" type=\"text\" inputmode=\"decimal\" value=\"200,000.00\" aria-describedby=\"capr-property-value-help capr-property-value-error\"\u003e\n          \u003c\/div\u003e\n          \u003cdiv class=\"capr-helper\" id=\"capr-property-value-help\"\u003eUse the purchase price or current market value.\u003c\/div\u003e\n          \u003cdiv class=\"capr-error\" id=\"capr-property-value-error\" data-capr-error=\"property-value\"\u003e\u003c\/div\u003e\n        \u003c\/div\u003e\n\n        \u003cdiv class=\"capr-field\"\u003e\n          \u003clabel class=\"capr-label\" for=\"capr-gross-income\"\u003eAnnual gross income\u003c\/label\u003e\n          \u003cdiv class=\"capr-control\"\u003e\n            \u003cspan class=\"capr-affix capr-prefix\" aria-hidden=\"true\"\u003e$\u003c\/span\u003e\n            \u003cinput class=\"capr-input\" id=\"capr-gross-income\" data-capr-input=\"gross-income\" type=\"text\" inputmode=\"decimal\" value=\"30,000.00\" aria-describedby=\"capr-gross-income-help capr-gross-income-error\"\u003e\n          \u003c\/div\u003e\n          \u003cdiv class=\"capr-helper\" id=\"capr-gross-income-help\"\u003eScheduled rent and recurring property income before vacancy.\u003c\/div\u003e\n          \u003cdiv class=\"capr-error\" id=\"capr-gross-income-error\" data-capr-error=\"gross-income\"\u003e\u003c\/div\u003e\n        \u003c\/div\u003e\n\n        \u003cdiv class=\"capr-segmented-wrap\"\u003e\n          \u003cfieldset class=\"capr-field\"\u003e\n            \u003clegend class=\"capr-legend-title\"\u003eOperating expense input\u003c\/legend\u003e\n            \u003cdiv class=\"capr-segmented\" data-capr-segmented=\"expense-mode\"\u003e\n              \u003cinput id=\"capr-expense-percent\" name=\"capr-expense-mode\" data-capr-mode=\"percent\" type=\"radio\" value=\"percent\" checked\u003e\n              \u003clabel for=\"capr-expense-percent\"\u003ePercentage\u003c\/label\u003e\n              \u003cinput id=\"capr-expense-currency\" name=\"capr-expense-mode\" data-capr-mode=\"currency\" type=\"radio\" value=\"currency\"\u003e\n              \u003clabel for=\"capr-expense-currency\"\u003eAnnual total\u003c\/label\u003e\n            \u003c\/div\u003e\n          \u003c\/fieldset\u003e\n        \u003c\/div\u003e\n\n        \u003cdiv class=\"capr-field\"\u003e\n          \u003clabel class=\"capr-label\" for=\"capr-operating-expense\" data-capr-text=\"expense-label\"\u003eOperating expenses (percentage)\u003c\/label\u003e\n          \u003cdiv class=\"capr-control\"\u003e\n            \u003cspan class=\"capr-affix capr-prefix\" data-capr-affix=\"expense-prefix\" aria-hidden=\"true\"\u003e\u003c\/span\u003e\n            \u003cinput class=\"capr-input\" id=\"capr-operating-expense\" data-capr-input=\"operating-expense\" type=\"text\" inputmode=\"decimal\" value=\"20.00\" aria-describedby=\"capr-operating-expense-help capr-operating-expense-error\"\u003e\n            \u003cspan class=\"capr-affix capr-suffix\" data-capr-affix=\"expense-suffix\" aria-hidden=\"true\"\u003e%\u003c\/span\u003e\n          \u003c\/div\u003e\n          \u003cdiv class=\"capr-helper\" id=\"capr-operating-expense-help\" data-capr-text=\"expense-help\"\u003eShare of effective gross income used for insurance, maintenance, management, utilities, and similar operating costs.\u003c\/div\u003e\n          \u003cdiv class=\"capr-error\" id=\"capr-operating-expense-error\" data-capr-error=\"operating-expense\"\u003e\u003c\/div\u003e\n        \u003c\/div\u003e\n\n        \u003cdiv class=\"capr-field\"\u003e\n          \u003clabel class=\"capr-label\" for=\"capr-vacancy-rate\"\u003eVacancy rate\u003c\/label\u003e\n          \u003cdiv class=\"capr-control\"\u003e\n            \u003cinput class=\"capr-input\" id=\"capr-vacancy-rate\" data-capr-input=\"vacancy-rate\" type=\"text\" inputmode=\"decimal\" value=\"2.00\" aria-describedby=\"capr-vacancy-rate-help capr-vacancy-rate-error\"\u003e\n            \u003cspan class=\"capr-affix capr-suffix\" aria-hidden=\"true\"\u003e%\u003c\/span\u003e\n          \u003c\/div\u003e\n          \u003cdiv class=\"capr-helper\" id=\"capr-vacancy-rate-help\"\u003eExpected share of the year when rentable space produces no income.\u003c\/div\u003e\n          \u003cdiv class=\"capr-error\" id=\"capr-vacancy-rate-error\" data-capr-error=\"vacancy-rate\"\u003e\u003c\/div\u003e\n        \u003c\/div\u003e\n      \u003c\/div\u003e\n    \u003c\/section\u003e\n\n    \u003csection class=\"capr-panel\" aria-labelledby=\"capr-results-heading\"\u003e\n      \u003ch3 id=\"capr-results-heading\"\u003eLive results\u003c\/h3\u003e\n      \u003cdiv class=\"capr-result-primary\"\u003e\n        \u003cdiv class=\"capr-result-label\"\u003eCapitalization rate\u003c\/div\u003e\n        \u003cdiv class=\"capr-result-value\" data-capr-result=\"cap-rate\"\u003e11.76%\u003c\/div\u003e\n        \u003cp class=\"capr-result-interpretation\" data-capr-result=\"interpretation\"\u003eThe property produces $11.76 of annual NOI for each $100 of value.\u003c\/p\u003e\n      \u003c\/div\u003e\n      \u003cdiv class=\"capr-metrics\"\u003e\n        \u003cdiv class=\"capr-metric\"\u003e\n\u003cspan\u003eAnnual net operating income\u003c\/span\u003e\u003cstrong data-capr-result=\"noi\"\u003e$23,520.00\u003c\/strong\u003e\n\u003c\/div\u003e\n        \u003cdiv class=\"capr-metric\"\u003e\n\u003cspan\u003eEffective gross income\u003c\/span\u003e\u003cstrong data-capr-result=\"effective-income\"\u003e$29,400.00\u003c\/strong\u003e\n\u003c\/div\u003e\n        \u003cdiv class=\"capr-metric\"\u003e\n\u003cspan\u003eModeled operating costs\u003c\/span\u003e\u003cstrong data-capr-result=\"operating-costs\"\u003e$5,880.00\u003c\/strong\u003e\n\u003c\/div\u003e\n        \u003cdiv class=\"capr-metric\"\u003e\n\u003cspan\u003eGross rent multiplier\u003c\/span\u003e\u003cstrong data-capr-result=\"grm\"\u003e6.67×\u003c\/strong\u003e\n\u003c\/div\u003e\n        \u003cdiv class=\"capr-metric\"\u003e\n\u003cspan\u003eSimple NOI payback\u003c\/span\u003e\u003cstrong data-capr-result=\"payback\"\u003e8.50 years\u003c\/strong\u003e\n\u003c\/div\u003e\n        \u003cdiv class=\"capr-metric\"\u003e\n\u003cspan\u003eVacancy loss\u003c\/span\u003e\u003cstrong data-capr-result=\"vacancy-loss\"\u003e$600.00\u003c\/strong\u003e\n\u003c\/div\u003e\n      \u003c\/div\u003e\n      \u003cp class=\"capr-formula-note\"\u003eModel: NOI = gross income × (1 − vacancy rate) × (1 − operating expense ratio). Cap rate = NOI ÷ property value.\u003c\/p\u003e\n      \u003cdiv class=\"capr-sr-only\" aria-live=\"polite\" data-capr-live\u003eCap rate 11.76 percent. Annual net operating income 23,520 dollars.\u003c\/div\u003e\n    \u003c\/section\u003e\n  \u003c\/div\u003e\n\n  \u003csection class=\"capr-chart-card\" data-capr-chart-card aria-labelledby=\"capr-breakdown-heading\"\u003e\n    \u003ch3 id=\"capr-breakdown-heading\"\u003eIncome breakdown\u003c\/h3\u003e\n    \u003cp class=\"capr-chart-intro\" data-capr-chart-intro\u003eSee how scheduled gross income is divided among vacancy loss, operating costs, and net operating income.\u003c\/p\u003e\n    \u003cdiv class=\"capr-chart-empty\" data-capr-chart-empty\u003eEnter positive income values above to see the breakdown.\u003c\/div\u003e\n    \u003cdiv class=\"capr-chart-cluster\" data-capr-chart-cluster\u003e\n      \u003cdiv class=\"capr-chart-visual\" data-capr-chart-visual\u003e\n        \u003csvg class=\"capr-chart-svg\" data-capr-chart-svg viewbox=\"0 0 240 240\" role=\"img\" aria-labelledby=\"capr-chart-title capr-chart-desc\"\u003e\n          \u003ctitle id=\"capr-chart-title\"\u003eAnnual gross income breakdown\u003c\/title\u003e\n          \u003cdesc id=\"capr-chart-desc\" data-capr-chart-desc\u003eVacancy loss 600 dollars, operating costs 5,880 dollars, net operating income 23,520 dollars.\u003c\/desc\u003e\n          \u003cg data-capr-chart-arcs transform=\"rotate(-90 120 120)\"\u003e\u003c\/g\u003e\n          \u003ctext class=\"capr-chart-center-label\" x=\"120\" y=\"111\"\u003eGross income\u003c\/text\u003e\n          \u003ctext class=\"capr-chart-center-value\" x=\"120\" y=\"137\" data-capr-chart-total\u003e$30,000.00\u003c\/text\u003e\n        \u003c\/svg\u003e\n      \u003c\/div\u003e\n      \u003cdiv class=\"capr-chart-details\"\u003e\n        \u003cdiv class=\"capr-legend\" data-capr-legend aria-label=\"Income breakdown legend\"\u003e\u003c\/div\u003e\n        \u003cdiv class=\"capr-chart-caption\" data-capr-chart-caption\u003eNet operating income represents 78.40% of scheduled gross income under the current assumptions.\u003c\/div\u003e\n      \u003c\/div\u003e\n    \u003c\/div\u003e\n    \u003cdiv class=\"capr-sr-only\" data-capr-chart-summary\u003eGross income breakdown: vacancy loss 600 dollars; operating costs 5,880 dollars; net operating income 23,520 dollars.\u003c\/div\u003e\n  \u003c\/section\u003e\n\n  \u003csection class=\"capr-table-card\" data-capr-table-card aria-labelledby=\"capr-sensitivity-heading\"\u003e\n    \u003ch3 id=\"capr-sensitivity-heading\"\u003eValue sensitivity by market cap rate\u003c\/h3\u003e\n    \u003cdiv class=\"capr-table-overflow\" data-capr-table-overflow tabindex=\"0\" aria-label=\"Property value sensitivity table\"\u003e\n      \u003ctable class=\"capr-table\"\u003e\n        \u003cthead\u003e\n          \u003ctr\u003e\n            \u003cth scope=\"col\"\u003eMarket cap rate\u003c\/th\u003e\n            \u003cth scope=\"col\" class=\"capr-number\"\u003eImplied property value\u003c\/th\u003e\n            \u003cth scope=\"col\" class=\"capr-number\"\u003eDifference vs. entered value\u003c\/th\u003e\n            \u003cth scope=\"col\"\u003eReading\u003c\/th\u003e\n          \u003c\/tr\u003e\n        \u003c\/thead\u003e\n        \u003ctbody data-capr-table-body\u003e\u003c\/tbody\u003e\n      \u003c\/table\u003e\n    \u003c\/div\u003e\n    \u003cdiv class=\"capr-table-note\" data-capr-table-note\u003eImplied value equals current NOI divided by each assumed market cap rate. This is a screening sensitivity, not an appraisal.\u003c\/div\u003e\n  \u003c\/section\u003e\n\n  \u003carticle class=\"capr-education\"\u003e\n    \u003csection\u003e\n      \u003ch2\u003eWhat this cap rate calculator estimates\u003c\/h2\u003e\n      \u003cp\u003eThe capitalization rate, usually shortened to cap rate, compares a property's annual net operating income with the property's value. It is an unlevered income yield: the calculation intentionally looks at property operations before mortgage principal, mortgage interest, depreciation, and income taxes. That makes cap rate useful for comparing income-producing properties with different financing structures, but it is not a complete investment return measure.\u003c\/p\u003e\n      \u003cp\u003eThis calculator starts with scheduled annual gross income, subtracts the economic effect of vacancy, applies an operating expense ratio, and divides the resulting net operating income by property value. The live results, income breakdown, and value-sensitivity table all use the same assumptions. The Excel download captures the current state of every input and result.\u003c\/p\u003e\n    \u003c\/section\u003e\n\n    \u003csection\u003e\n      \u003ch3\u003eHow to enter each assumption\u003c\/h3\u003e\n      \u003cul\u003e\n        \u003cli\u003e\n\u003cstrong\u003eProperty value\u003c\/strong\u003e is the purchase price, asking price, or current market estimate. It is required for a meaningful cap rate. A higher value lowers cap rate when NOI is unchanged; a lower value raises it. Do not enter only the equity portion or down payment.\u003c\/li\u003e\n        \u003cli\u003e\n\u003cstrong\u003eAnnual gross income\u003c\/strong\u003e is the scheduled rent and other recurring property income before vacancy and operating costs. Use an annual amount. Increasing gross income raises effective income, NOI, and cap rate, provided the other assumptions stay constant.\u003c\/li\u003e\n        \u003cli\u003e\n\u003cstrong\u003eOperating expenses\u003c\/strong\u003e can be entered as a percentage or an annual total. Percentage mode is the direct operating expense ratio. In annual-total mode, the calculator converts the amount into an equivalent percentage of scheduled gross income, then applies that ratio after vacancy. Typical operating expenses may include property management, repairs, insurance, owner-paid utilities, recurring maintenance, and property taxes. Capital improvements, loan payments, depreciation, and income tax normally do not belong in NOI.\u003c\/li\u003e\n        \u003cli\u003e\n\u003cstrong\u003eVacancy rate\u003c\/strong\u003e represents expected lost occupancy and collection downtime. Enter a percentage from 0% to 100%. Higher vacancy reduces effective income and NOI. A zero vacancy assumption can be useful for a best-case scenario, but it may overstate stabilized performance.\u003c\/li\u003e\n      \u003c\/ul\u003e\n      \u003cp\u003eFor U.S. rental-property tax terminology and examples, review \u003ca href=\"https:\/\/www.irs.gov\/publications\/p527\" target=\"_blank\" rel=\"noopener noreferrer\"\u003eIRS Publication 527\u003c\/a\u003e. Tax accounting and cap-rate underwriting are related but not identical, so use consistent operating definitions when comparing properties.\u003c\/p\u003e\n    \u003c\/section\u003e\n\n    \u003csection\u003e\n      \u003ch3\u003eUnderstanding every result\u003c\/h3\u003e\n      \u003cp\u003e\u003cstrong\u003eCapitalization rate\u003c\/strong\u003e is NOI divided by property value. A 7.00% cap rate means the property generates $7 of annual NOI for each $100 of value under the entered assumptions. A higher cap rate can indicate a stronger current income yield, a lower price, greater operating risk, weaker expected growth, or some combination of those factors. A low cap rate can reflect a premium location, strong expected growth, lower perceived risk, or an expensive purchase price.\u003c\/p\u003e\n      \u003cp\u003e\u003cstrong\u003eAnnual net operating income\u003c\/strong\u003e is the income remaining after modeled vacancy and operating costs, before debt service and income tax. Positive NOI supports a positive cap rate. Zero NOI produces a zero cap rate. Negative operating performance is treated as zero for the chart because a donut cannot represent negative geometry, although invalid inputs are shown as field errors.\u003c\/p\u003e\n      \u003cp\u003e\u003cstrong\u003eEffective gross income\u003c\/strong\u003e equals scheduled gross income after vacancy loss. \u003cstrong\u003eModeled operating costs\u003c\/strong\u003e are the costs applied to effective income. \u003cstrong\u003eVacancy loss\u003c\/strong\u003e is the scheduled income not collected under the vacancy assumption. \u003cstrong\u003eGross rent multiplier\u003c\/strong\u003e is property value divided by gross income; it ignores expenses and is therefore a rougher screening ratio. \u003cstrong\u003eSimple NOI payback\u003c\/strong\u003e is the reciprocal of cap rate and shows how many years of unchanged NOI would equal the property's value. It is not a discounted cash-flow payback and does not include resale proceeds.\u003c\/p\u003e\n    \u003c\/section\u003e\n\n    \u003csection\u003e\n      \u003ch3\u003eReading the chart and sensitivity table\u003c\/h3\u003e\n      \u003cp\u003eThe donut divides scheduled gross income into three data-backed categories: vacancy loss, operating costs, and NOI. The legend shows exact dollar amounts and shares of gross income. When inputs are empty or gross income is zero, the chart is replaced by a compact empty state rather than a decorative placeholder.\u003c\/p\u003e\n      \u003cp\u003eThe sensitivity table holds NOI constant and changes the assumed market cap rate. Since implied value equals NOI divided by cap rate, lower market cap rates imply higher values and higher market cap rates imply lower values. The difference column compares each implied value with the entered property value. This is useful for quick scenario work, but a professional appraisal may also consider comparable sales, replacement cost, lease quality, remaining lease terms, property condition, location, and expected capital expenditures.\u003c\/p\u003e\n    \u003c\/section\u003e\n\n    \u003csection\u003e\n      \u003ch3\u003ePractical interpretation, tradeoffs, and common mistakes\u003c\/h3\u003e\n      \u003cp\u003eCap rate is most informative when the income and expense assumptions represent stabilized operations. One-time repairs, temporary concessions, unusually high occupancy, or below-market rents can distort the result. Compare properties using the same definition of NOI and the same period. Mixing monthly income with annual expenses is a common error. Another frequent mistake is subtracting mortgage payments inside NOI, which turns the metric into a financing-dependent cash yield rather than a property-level cap rate.\u003c\/p\u003e\n      \u003cp\u003eMarket cap rates can move with interest rates, risk appetite, property type, and local supply and demand. The \u003ca href=\"https:\/\/fred.stlouisfed.org\/series\/DGS10\" target=\"_blank\" rel=\"noopener noreferrer\"\u003eFederal Reserve Bank of St. Louis\u003c\/a\u003e publishes long-term Treasury yield data that can help provide interest-rate context. For a general explanation of capitalization rates, see \u003ca href=\"https:\/\/www.investopedia.com\/terms\/c\/capitalizationrate.asp\" target=\"_blank\" rel=\"noopener noreferrer\"\u003eInvestopedia's cap rate overview\u003c\/a\u003e. Buyers who are also evaluating financing and ownership costs can use the \u003ca href=\"https:\/\/www.consumerfinance.gov\/owning-a-home\/\" target=\"_blank\" rel=\"noopener noreferrer\"\u003eConsumer Financial Protection Bureau's homeownership resources\u003c\/a\u003e as a separate due-diligence reference.\u003c\/p\u003e\n      \u003cp\u003eUse cap rate as a consistent screening and comparison tool, then test the investment with cash flow, debt service coverage, lease rollover, capital expenditure, and exit assumptions. The calculator does not provide personalized investment, legal, accounting, or tax advice.\u003c\/p\u003e\n    \u003c\/section\u003e\n  \u003c\/article\u003e\n\u003c\/div\u003e","brand":"FinancialModelsLab","offers":[{"title":"Default Title","offer_id":49909481308403,"sku":"cap-rate","price":0.0,"currency_code":"USD","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0522\/6191\/2762\/files\/cap-rate.webp?v=1783935391","url":"https:\/\/financialmodelslab.com\/products\/cap-rate","provider":"Financial Models Lab","version":"1.0","type":"link"}