{"product_id":"net-operating-income","title":"Net Operating Income Calculator","description":"\u003cstyle\u003e\n.noi-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  container-type: inline-size;\n  width: 100%;\n  color: var(--ink);\n  background: var(--tint);\n  border: 1px solid var(--border);\n  border-radius: 8px;\n  padding: 24px;\n  font-family: -apple-system, BlinkMacSystemFont, \"Segoe UI\", Roboto, Helvetica, Arial, sans-serif;\n  font-size: 15px;\n  line-height: 1.55;\n  box-shadow: 0 1px 2px rgba(15, 23, 42, .06);\n  overflow-wrap: anywhere;\n}\n.noi-calculator,\n.noi-calculator *,\n.noi-calculator *::before,\n.noi-calculator *::after {\n  box-sizing: border-box;\n}\n.noi-calculator h2,\n.noi-calculator h3,\n.noi-calculator p,\n.noi-calculator ul {\n  margin-top: 0;\n}\n.noi-calculator h2 {\n  margin-bottom: 8px;\n  font-size: 24px;\n  line-height: 1.25;\n  font-weight: 700;\n  letter-spacing: -.02em;\n}\n.noi-calculator h3 {\n  margin-bottom: 12px;\n  font-size: 18px;\n  line-height: 1.35;\n  font-weight: 650;\n}\n.noi-calculator a {\n  color: var(--primary);\n  text-decoration-thickness: 1px;\n  text-underline-offset: 2px;\n}\n.noi-calculator a:hover {\n  text-decoration-thickness: 2px;\n}\n.noi-header,\n.noi-toolbar,\n.noi-workspace,\n.noi-breakdown,\n.noi-chart,\n.noi-table,\n.noi-education,\n.noi-input-panel,\n.noi-results-panel,\n.noi-chart-card,\n.noi-breakdown-card,\n.noi-table-card,\n.noi-result-card,\n.noi-field,\n.noi-chart-cluster,\n.noi-chart-visual,\n.noi-chart-legend,\n.noi-chart-callout,\n.noi-table-wrap,\n.noi-table-note,\n.noi-education-section {\n  min-width: 0;\n}\n.noi-header {\n  margin-bottom: 16px;\n}\n.noi-subtitle {\n  max-width: 760px;\n  margin-bottom: 16px;\n  color: var(--muted);\n}\n.noi-summary-pills {\n  display: flex;\n  flex-wrap: wrap;\n  gap: 8px;\n}\n.noi-pill {\n  display: inline-flex;\n  align-items: center;\n  gap: 8px;\n  min-height: 34px;\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  white-space: nowrap;\n}\n.noi-pill strong {\n  color: var(--ink);\n  font-variant-numeric: tabular-nums;\n}\n.noi-toolbar {\n  display: flex;\n  flex-wrap: wrap;\n  align-items: center;\n  gap: 8px;\n  margin-bottom: 16px;\n}\n.noi-button {\n  display: inline-flex;\n  align-items: center;\n  justify-content: center;\n  gap: 10px;\n  min-height: 44px;\n  padding: 12px 18px;\n  border: 1px solid transparent;\n  border-radius: 6px;\n  font: inherit;\n  font-size: 15px;\n  font-weight: 650;\n  line-height: 1;\n  cursor: pointer;\n  white-space: nowrap;\n  transition: background-color .16s ease, border-color .16s ease, box-shadow .16s ease, transform .16s ease;\n}\n.noi-button:hover {\n  box-shadow: 0 2px 5px rgba(15, 23, 42, .12);\n}\n.noi-button:active {\n  transform: translateY(1px);\n}\n.noi-button:focus-visible,\n.noi-input:focus-visible,\n.noi-select:focus-visible,\n.noi-details summary:focus-visible {\n  outline: 3px solid rgba(29, 78, 216, .35);\n  outline-offset: 2px;\n}\n.noi-download-button {\n  background: var(--accent);\n  color: #ffffff;\n}\n.noi-download-button:hover {\n  background: var(--accent-hover);\n}\n.noi-reset-button {\n  border-color: #cbd5e1;\n  background: var(--surface);\n  color: var(--ink);\n}\n.noi-reset-button:hover {\n  border-color: #94a3b8;\n  background: #f1f5f9;\n}\n.noi-workspace {\n  display: grid;\n  grid-template-columns: minmax(0, 1fr);\n  gap: 16px;\n  margin-bottom: 16px;\n}\n.noi-input-panel,\n.noi-results-panel,\n.noi-breakdown-card,\n.noi-chart-card,\n.noi-table-card,\n.noi-education-section {\n  border: 1px solid var(--border);\n  border-radius: 8px;\n  background: var(--surface);\n  box-shadow: 0 1px 2px rgba(15, 23, 42, .04);\n}\n.noi-input-panel,\n.noi-results-panel,\n.noi-breakdown-card,\n.noi-chart-card,\n.noi-table-card {\n  padding: 16px;\n}\n.noi-section-intro {\n  margin-bottom: 16px;\n  color: var(--muted);\n  font-size: 13px;\n  font-weight: 500;\n}\n.noi-input-grid {\n  display: grid;\n  grid-template-columns: repeat(auto-fit, minmax(210px, 1fr));\n  gap: 16px;\n}\n.noi-expense-grid {\n  margin-top: 16px;\n  padding-top: 16px;\n  border-top: 1px solid var(--border);\n}\n.noi-field {\n  display: flex;\n  flex-direction: column;\n  gap: 6px;\n}\n.noi-label {\n  display: block;\n  color: var(--ink);\n  font-size: 14px;\n  font-weight: 600;\n  line-height: 1.35;\n}\n.noi-input,\n.noi-select {\n  width: 100%;\n  min-height: 44px;\n  border: 1px solid #cbd5e1;\n  border-radius: 6px;\n  background: var(--surface);\n  color: var(--ink);\n  padding: 10px 12px;\n  font: inherit;\n  font-size: 15px;\n  font-weight: 400;\n  font-variant-numeric: tabular-nums;\n}\n.noi-input:hover,\n.noi-select:hover {\n  border-color: #94a3b8;\n}\n.noi-input[aria-invalid=\"true\"] {\n  border-color: #b91c1c;\n  box-shadow: 0 0 0 1px #b91c1c;\n}\n.noi-helper,\n.noi-error {\n  margin: 0;\n  font-size: 13px;\n  font-weight: 500;\n  line-height: 1.45;\n}\n.noi-helper {\n  min-height: 38px;\n  color: var(--muted);\n}\n.noi-error {\n  min-height: 0;\n  color: #991b1b;\n}\n.noi-error:empty {\n  display: none;\n}\n.noi-results-grid {\n  display: grid;\n  grid-template-columns: repeat(2, minmax(0, 1fr));\n  gap: 12px;\n}\n.noi-result-card {\n  display: flex;\n  flex-direction: column;\n  justify-content: flex-start;\n  gap: 4px;\n  min-height: 104px;\n  padding: 14px;\n  border: 1px solid var(--border);\n  border-radius: 8px;\n  background: var(--tint);\n}\n.noi-result-card-primary {\n  grid-column: 1 \/ -1;\n  background: #eff6ff;\n  border-color: #bfdbfe;\n}\n.noi-result-label {\n  color: var(--muted);\n  font-size: 13px;\n  font-weight: 600;\n}\n.noi-result-value {\n  color: var(--ink);\n  font-size: 20px;\n  font-weight: 700;\n  line-height: 1.2;\n  font-variant-numeric: tabular-nums;\n}\n.noi-result-card-primary .noi-result-value {\n  color: #1e3a8a;\n  font-size: 30px;\n}\n.noi-result-note {\n  margin: 4px 0 0;\n  color: var(--muted);\n  font-size: 13px;\n  font-weight: 500;\n}\n.noi-live-region {\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.noi-breakdown,\n.noi-chart,\n.noi-table {\n  margin-bottom: 16px;\n}\n.noi-chart-heading-row {\n  display: flex;\n  flex-wrap: wrap;\n  align-items: flex-start;\n  gap: 8px 16px;\n  margin-bottom: 16px;\n}\n.noi-chart-heading-copy {\n  flex: 1 1 280px;\n  min-width: 0;\n}\n.noi-chart-heading-copy h3 {\n  margin-bottom: 4px;\n}\n.noi-chart-heading-copy p {\n  margin-bottom: 0;\n  color: var(--muted);\n  font-size: 13px;\n  font-weight: 500;\n}\n.noi-chart-total {\n  flex: 0 0 auto;\n  min-width: 150px;\n  padding: 10px 12px;\n  border: 1px solid var(--border);\n  border-radius: 6px;\n  background: var(--tint);\n}\n.noi-chart-total span {\n  display: block;\n  color: var(--muted);\n  font-size: 13px;\n  font-weight: 600;\n}\n.noi-chart-total strong {\n  display: block;\n  margin-top: 2px;\n  font-size: 20px;\n  line-height: 1.2;\n  font-weight: 700;\n  font-variant-numeric: tabular-nums;\n}\n.noi-chart-cluster {\n  display: grid;\n  grid-template-columns: minmax(0, 1fr);\n  align-items: center;\n  justify-items: center;\n  gap: 16px;\n  max-width: 920px;\n  margin: 0 auto;\n}\n.noi-chart-visual {\n  display: flex;\n  align-items: center;\n  justify-content: center;\n  width: 100%;\n  min-height: 220px;\n}\n.noi-chart-svg {\n  display: block;\n  width: 100%;\n  height: auto;\n  max-width: 340px;\n  overflow: visible;\n}\n.noi-income-svg {\n  max-width: none;\n}\n.noi-chart-legend {\n  display: grid;\n  width: 100%;\n  max-width: 430px;\n  gap: 8px;\n}\n.noi-legend-row {\n  display: grid;\n  grid-template-columns: 14px minmax(0, max-content) minmax(0, max-content) minmax(0, max-content);\n  align-items: baseline;\n  justify-content: start;\n  gap: 8px 12px;\n  color: var(--muted);\n  font-size: 13px;\n  font-weight: 500;\n  line-height: 1.35;\n}\n.noi-legend-swatch {\n  width: 12px;\n  height: 12px;\n  border-radius: 3px;\n  align-self: center;\n}\n.noi-legend-label {\n  color: var(--ink);\n  font-weight: 600;\n}\n.noi-legend-value,\n.noi-legend-percent {\n  color: var(--ink);\n  font-variant-numeric: tabular-nums;\n  white-space: nowrap;\n}\n.noi-chart-callout {\n  margin-top: 16px;\n  padding: 10px 12px;\n  border: 1px solid var(--border);\n  border-radius: 6px;\n  background: var(--tint);\n  color: var(--muted);\n  font-size: 13px;\n  font-weight: 500;\n}\n.noi-chart-empty {\n  width: 100%;\n  max-width: 520px;\n  padding: 20px;\n  border: 1px dashed #94a3b8;\n  border-radius: 6px;\n  background: var(--tint);\n  color: var(--muted);\n  text-align: center;\n  font-size: 13px;\n  font-weight: 600;\n}\n.noi-chart-summary-wrap {\n  margin-top: 16px;\n  overflow-x: auto;\n  border: 1px solid var(--border);\n  border-radius: 6px;\n}\n.noi-chart-summary-table,\n.noi-data-table {\n  width: 100%;\n  border-collapse: collapse;\n  font-size: 13px;\n  font-variant-numeric: tabular-nums;\n}\n.noi-chart-summary-table {\n  min-width: 440px;\n}\n.noi-chart-summary-table th,\n.noi-chart-summary-table td,\n.noi-data-table th,\n.noi-data-table td {\n  padding: 10px 12px;\n  border-bottom: 1px solid var(--border);\n  text-align: left;\n  vertical-align: top;\n}\n.noi-chart-summary-table th,\n.noi-data-table th {\n  background: #e2e8f0;\n  color: var(--ink);\n  font-weight: 700;\n  white-space: nowrap;\n}\n.noi-chart-summary-table td:nth-child(n+2),\n.noi-chart-summary-table th:nth-child(n+2) {\n  white-space: nowrap;\n}\n.noi-chart-summary-table td:nth-child(n+2),\n.noi-chart-summary-table th:nth-child(n+2),\n.noi-data-table td:nth-child(n+2),\n.noi-data-table th:nth-child(n+2) {\n  text-align: right;\n}\n.noi-chart-summary-table tr:last-child td,\n.noi-data-table tr:last-child td {\n  border-bottom: 0;\n}\n.noi-chart-summary-table tbody tr:hover,\n.noi-data-table tbody tr:hover {\n  background: #f8fafc;\n}\n.noi-chart-safe-stack .noi-chart-cluster {\n  grid-template-columns: minmax(0, 1fr) !important;\n  gap: 20px !important;\n  max-width: 720px;\n}\n.noi-chart-safe-stack .noi-chart-legend {\n  margin-top: 0;\n}\n.noi-chart-safe-stack .noi-chart-callout {\n  margin-top: 20px;\n}\n.noi-table-wrap {\n  width: 100%;\n  overflow-x: auto;\n  border: 1px solid var(--border);\n  border-radius: 6px;\n}\n.noi-data-table {\n  min-width: 680px;\n}\n.noi-data-table .noi-table-section-row td {\n  background: #eef2ff;\n  color: #312e81;\n  font-weight: 700;\n}\n.noi-data-table .noi-table-total-row td {\n  background: #f1f5f9;\n  color: var(--ink);\n  font-weight: 700;\n}\n.noi-data-table .noi-table-noi-row td {\n  background: #eff6ff;\n  color: #1e3a8a;\n  font-size: 15px;\n  font-weight: 700;\n}\n.noi-table-note {\n  margin-top: 16px;\n  padding: 10px 12px;\n  border: 1px solid var(--border);\n  border-radius: 6px;\n  background: var(--tint);\n  color: var(--muted);\n  font-size: 13px;\n  font-weight: 500;\n}\n.noi-safe-table-stack .noi-table-note {\n  margin-top: 20px;\n}\n.noi-education {\n  display: grid;\n  gap: 16px;\n}\n.noi-education-section {\n  padding: 20px;\n}\n.noi-education-section p:last-child,\n.noi-education-section ul:last-child {\n  margin-bottom: 0;\n}\n.noi-education-section ul {\n  padding-left: 20px;\n}\n.noi-education-section li + li {\n  margin-top: 8px;\n}\n.noi-formula {\n  display: block;\n  margin: 12px 0;\n  padding: 12px;\n  border-left: 4px solid var(--primary);\n  border-radius: 0 6px 6px 0;\n  background: #eff6ff;\n  color: #1e3a8a;\n  font-weight: 700;\n  font-variant-numeric: tabular-nums;\n}\n.noi-negative {\n  color: #b91c1c !important;\n}\n.noi-positive {\n  color: #166534 !important;\n}\n@container (min-width: 640px) {\n  .noi-chart-cluster {\n    grid-template-columns: minmax(260px, 340px) minmax(280px, 430px);\n    justify-content: center;\n    justify-items: stretch;\n    gap: 24px;\n  }\n  .noi-income-cluster {\n    grid-template-columns: minmax(0, 1fr);\n    max-width: 820px;\n  }\n}\n@container (min-width: 900px) {\n  .noi-workspace {\n    grid-template-columns: minmax(0, 1.15fr) minmax(330px, .85fr);\n    align-items: start;\n  }\n  .noi-results-panel {\n    position: relative;\n  }\n}\n@media (max-width: 639px) {\n  .noi-calculator {\n    padding: 16px;\n  }\n  .noi-results-grid {\n    grid-template-columns: minmax(0, 1fr);\n  }\n  .noi-result-card-primary {\n    grid-column: auto;\n  }\n  .noi-button {\n    flex: 1 1 auto;\n  }\n  .noi-chart-heading-row {\n    display: grid;\n  }\n  .noi-chart-total {\n    min-width: 0;\n  }\n  .noi-legend-row {\n    grid-template-columns: 14px minmax(0, 1fr) minmax(0, max-content);\n  }\n  .noi-legend-percent {\n    grid-column: 2 \/ 4;\n    padding-left: 0;\n  }\n}\n@media (max-width: 380px) {\n  .noi-calculator {\n    padding: 12px;\n  }\n  .noi-input-panel,\n  .noi-results-panel,\n  .noi-breakdown-card,\n  .noi-chart-card,\n  .noi-table-card,\n  .noi-education-section {\n    padding: 14px;\n  }\n  .noi-toolbar {\n    display: grid;\n    grid-template-columns: minmax(0, 1fr);\n  }\n  .noi-button {\n    width: 100%;\n  }\n  .noi-summary-pills {\n    display: grid;\n    grid-template-columns: minmax(0, 1fr);\n  }\n  .noi-pill {\n    justify-content: space-between;\n  }\n}\n\u003c\/style\u003e\n\u003cdiv class=\"noi-calculator\" data-calculator-root\u003e\n  \u003csection class=\"noi-header\" aria-labelledby=\"noi-title\"\u003e\n    \u003ch2 id=\"noi-title\"\u003eNet Operating Income Calculator\u003c\/h2\u003e\n    \u003cp class=\"noi-subtitle\"\u003eEstimate a property's annual net operating income from rental capacity, occupancy, other income, and recurring operating expenses.\u003c\/p\u003e\n    \u003cdiv class=\"noi-summary-pills\" aria-label=\"Live property summary\"\u003e\n      \u003cspan class=\"noi-pill\"\u003ePotential income \u003cstrong data-noi-pill=\"potential\"\u003e$452,000.00\u003c\/strong\u003e\u003c\/span\u003e\n      \u003cspan class=\"noi-pill\"\u003eVacancy loss \u003cstrong data-noi-pill=\"vacancy\"\u003e$67,500.00\u003c\/strong\u003e\u003c\/span\u003e\n      \u003cspan class=\"noi-pill\"\u003eOperating expenses \u003cstrong data-noi-pill=\"expenses\"\u003e$113,000.00\u003c\/strong\u003e\u003c\/span\u003e\n      \u003cspan class=\"noi-pill\"\u003eNOI \u003cstrong data-noi-pill=\"noi\"\u003e$271,500.00\u003c\/strong\u003e\u003c\/span\u003e\n    \u003c\/div\u003e\n  \u003c\/section\u003e\n\n  \u003cdiv class=\"noi-toolbar\" aria-label=\"Calculator actions\"\u003e\n    \u003cbutton class=\"noi-button noi-download-button\" type=\"button\" data-noi-action=\"download\"\u003e\n      \u003csvg width=\"18\" height=\"18\" viewbox=\"0 0 24 24\" fill=\"none\" aria-hidden=\"true\"\u003e\n        \u003cpath d=\"M12 3v11m0 0 4-4m-4 4-4-4M5 17v3h14v-3\" stroke=\"currentColor\" stroke-width=\"2\" stroke-linecap=\"round\" stroke-linejoin=\"round\"\u003e\u003c\/path\u003e\n      \u003c\/svg\u003e\n      \u003cspan\u003eDownload Excel\u003c\/span\u003e\n    \u003c\/button\u003e\n    \u003cbutton class=\"noi-button noi-reset-button\" type=\"button\" data-noi-action=\"reset\"\u003eReset\u003c\/button\u003e\n  \u003c\/div\u003e\n\n  \u003csection class=\"noi-workspace\" aria-label=\"NOI inputs and live results\"\u003e\n    \u003cdiv class=\"noi-input-panel\"\u003e\n      \u003ch3\u003eProperty income assumptions\u003c\/h3\u003e\n      \u003cp class=\"noi-section-intro\"\u003eEnter annual figures. Occupancy affects base rent, while other income is added separately.\u003c\/p\u003e\n      \u003cdiv class=\"noi-input-grid\"\u003e\n        \u003cdiv class=\"noi-field\"\u003e\n          \u003clabel class=\"noi-label\" for=\"noi-area\"\u003eRentable area\u003c\/label\u003e\n          \u003cinput class=\"noi-input\" id=\"noi-area\" type=\"text\" inputmode=\"decimal\" value=\"1,500\" data-noi-field=\"area\" data-noi-type=\"number\" aria-describedby=\"noi-area-help noi-area-error\"\u003e\n          \u003cp class=\"noi-helper\" id=\"noi-area-help\"\u003eTotal rentable square feet or other consistent area unit.\u003c\/p\u003e\n          \u003cp class=\"noi-error\" id=\"noi-area-error\" data-noi-error=\"area\" aria-live=\"polite\"\u003e\u003c\/p\u003e\n        \u003c\/div\u003e\n        \u003cdiv class=\"noi-field\"\u003e\n          \u003clabel class=\"noi-label\" for=\"noi-rent-per-area\"\u003eAnnual rent per area unit\u003c\/label\u003e\n          \u003cinput class=\"noi-input\" id=\"noi-rent-per-area\" type=\"text\" inputmode=\"decimal\" value=\"$300.00\" data-noi-field=\"rentPerArea\" data-noi-type=\"currency\" aria-describedby=\"noi-rent-per-area-help noi-rent-per-area-error\"\u003e\n          \u003cp class=\"noi-helper\" id=\"noi-rent-per-area-help\"\u003eAnnual base rent for each area unit.\u003c\/p\u003e\n          \u003cp class=\"noi-error\" id=\"noi-rent-per-area-error\" data-noi-error=\"rentPerArea\" aria-live=\"polite\"\u003e\u003c\/p\u003e\n        \u003c\/div\u003e\n        \u003cdiv class=\"noi-field\"\u003e\n          \u003clabel class=\"noi-label\" for=\"noi-other-income\"\u003eOther annual income\u003c\/label\u003e\n          \u003cinput class=\"noi-input\" id=\"noi-other-income\" type=\"text\" inputmode=\"decimal\" value=\"$2,000.00\" data-noi-field=\"otherIncome\" data-noi-type=\"currency\" aria-describedby=\"noi-other-income-help noi-other-income-error\"\u003e\n          \u003cp class=\"noi-helper\" id=\"noi-other-income-help\"\u003eParking, laundry, storage, signage, or similar income.\u003c\/p\u003e\n          \u003cp class=\"noi-error\" id=\"noi-other-income-error\" data-noi-error=\"otherIncome\" aria-live=\"polite\"\u003e\u003c\/p\u003e\n        \u003c\/div\u003e\n        \u003cdiv class=\"noi-field\"\u003e\n          \u003clabel class=\"noi-label\" for=\"noi-occupancy\"\u003eOccupancy rate\u003c\/label\u003e\n          \u003cinput class=\"noi-input\" id=\"noi-occupancy\" type=\"text\" inputmode=\"decimal\" value=\"85.00%\" data-noi-field=\"occupancyRate\" data-noi-type=\"percent\" aria-describedby=\"noi-occupancy-help noi-occupancy-error\"\u003e\n          \u003cp class=\"noi-helper\" id=\"noi-occupancy-help\"\u003eExpected share of base rental capacity that is occupied.\u003c\/p\u003e\n          \u003cp class=\"noi-error\" id=\"noi-occupancy-error\" data-noi-error=\"occupancyRate\" aria-live=\"polite\"\u003e\u003c\/p\u003e\n        \u003c\/div\u003e\n      \u003c\/div\u003e\n\n      \u003cdiv class=\"noi-expense-grid\"\u003e\n        \u003ch3\u003eAnnual operating expenses\u003c\/h3\u003e\n        \u003cp class=\"noi-section-intro\"\u003eInclude recurring property-level costs. Exclude debt service, income taxes, depreciation, and major capital improvements.\u003c\/p\u003e\n        \u003cdiv class=\"noi-input-grid\"\u003e\n          \u003cdiv class=\"noi-field\"\u003e\n            \u003clabel class=\"noi-label\" for=\"noi-property-tax\"\u003eProperty tax\u003c\/label\u003e\n            \u003cinput class=\"noi-input\" id=\"noi-property-tax\" type=\"text\" inputmode=\"decimal\" value=\"$20,000.00\" data-noi-field=\"propertyTax\" data-noi-type=\"currency\" aria-describedby=\"noi-property-tax-help noi-property-tax-error\"\u003e\n            \u003cp class=\"noi-helper\" id=\"noi-property-tax-help\"\u003eRecurring real estate taxes for the measurement year.\u003c\/p\u003e\n            \u003cp class=\"noi-error\" id=\"noi-property-tax-error\" data-noi-error=\"propertyTax\" aria-live=\"polite\"\u003e\u003c\/p\u003e\n          \u003c\/div\u003e\n          \u003cdiv class=\"noi-field\"\u003e\n            \u003clabel class=\"noi-label\" for=\"noi-management\"\u003eProperty management\u003c\/label\u003e\n            \u003cinput class=\"noi-input\" id=\"noi-management\" type=\"text\" inputmode=\"decimal\" value=\"$14,000.00\" data-noi-field=\"management\" data-noi-type=\"currency\" aria-describedby=\"noi-management-help noi-management-error\"\u003e\n            \u003cp class=\"noi-helper\" id=\"noi-management-help\"\u003eThird-party fees or a realistic management allowance.\u003c\/p\u003e\n            \u003cp class=\"noi-error\" id=\"noi-management-error\" data-noi-error=\"management\" aria-live=\"polite\"\u003e\u003c\/p\u003e\n          \u003c\/div\u003e\n          \u003cdiv class=\"noi-field\"\u003e\n            \u003clabel class=\"noi-label\" for=\"noi-insurance\"\u003eInsurance\u003c\/label\u003e\n            \u003cinput class=\"noi-input\" id=\"noi-insurance\" type=\"text\" inputmode=\"decimal\" value=\"$19,500.00\" data-noi-field=\"insurance\" data-noi-type=\"currency\" aria-describedby=\"noi-insurance-help noi-insurance-error\"\u003e\n            \u003cp class=\"noi-helper\" id=\"noi-insurance-help\"\u003eAnnual property and liability coverage attributable to operations.\u003c\/p\u003e\n            \u003cp class=\"noi-error\" id=\"noi-insurance-error\" data-noi-error=\"insurance\" aria-live=\"polite\"\u003e\u003c\/p\u003e\n          \u003c\/div\u003e\n          \u003cdiv class=\"noi-field\"\u003e\n            \u003clabel class=\"noi-label\" for=\"noi-maintenance\"\u003eMaintenance\u003c\/label\u003e\n            \u003cinput class=\"noi-input\" id=\"noi-maintenance\" type=\"text\" inputmode=\"decimal\" value=\"$18,000.00\" data-noi-field=\"maintenance\" data-noi-type=\"currency\" aria-describedby=\"noi-maintenance-help noi-maintenance-error\"\u003e\n            \u003cp class=\"noi-helper\" id=\"noi-maintenance-help\"\u003eRoutine service, cleaning, landscaping, and preventive upkeep.\u003c\/p\u003e\n            \u003cp class=\"noi-error\" id=\"noi-maintenance-error\" data-noi-error=\"maintenance\" aria-live=\"polite\"\u003e\u003c\/p\u003e\n          \u003c\/div\u003e\n          \u003cdiv class=\"noi-field\"\u003e\n            \u003clabel class=\"noi-label\" for=\"noi-repairs\"\u003eRepairs\u003c\/label\u003e\n            \u003cinput class=\"noi-input\" id=\"noi-repairs\" type=\"text\" inputmode=\"decimal\" value=\"$24,500.00\" data-noi-field=\"repairs\" data-noi-type=\"currency\" aria-describedby=\"noi-repairs-help noi-repairs-error\"\u003e\n            \u003cp class=\"noi-helper\" id=\"noi-repairs-help\"\u003eNormal repairs that keep the property in operating condition.\u003c\/p\u003e\n            \u003cp class=\"noi-error\" id=\"noi-repairs-error\" data-noi-error=\"repairs\" aria-live=\"polite\"\u003e\u003c\/p\u003e\n          \u003c\/div\u003e\n          \u003cdiv class=\"noi-field\"\u003e\n            \u003clabel class=\"noi-label\" for=\"noi-other-expense\"\u003eOther operating expenses\u003c\/label\u003e\n            \u003cinput class=\"noi-input\" id=\"noi-other-expense\" type=\"text\" inputmode=\"decimal\" value=\"$17,000.00\" data-noi-field=\"otherExpense\" data-noi-type=\"currency\" aria-describedby=\"noi-other-expense-help noi-other-expense-error\"\u003e\n            \u003cp class=\"noi-helper\" id=\"noi-other-expense-help\"\u003eUtilities paid by owner, licenses, security, administration, and similar costs.\u003c\/p\u003e\n            \u003cp class=\"noi-error\" id=\"noi-other-expense-error\" data-noi-error=\"otherExpense\" aria-live=\"polite\"\u003e\u003c\/p\u003e\n          \u003c\/div\u003e\n        \u003c\/div\u003e\n      \u003c\/div\u003e\n    \u003c\/div\u003e\n\n    \u003caside class=\"noi-results-panel\" aria-labelledby=\"noi-results-title\"\u003e\n      \u003ch3 id=\"noi-results-title\"\u003eLive results\u003c\/h3\u003e\n      \u003cp class=\"noi-section-intro\"\u003eNOI is effective gross income less recurring operating expenses.\u003c\/p\u003e\n      \u003cdiv class=\"noi-results-grid\"\u003e\n        \u003cdiv class=\"noi-result-card noi-result-card-primary\"\u003e\n          \u003cspan class=\"noi-result-label\"\u003eNet operating income\u003c\/span\u003e\n          \u003cstrong class=\"noi-result-value\" data-noi-result=\"noi\"\u003e$271,500.00\u003c\/strong\u003e\n          \u003cp class=\"noi-result-note\" data-noi-result-note=\"noi\"\u003ePositive annual property-level operating profit before financing and income taxes.\u003c\/p\u003e\n        \u003c\/div\u003e\n        \u003cdiv class=\"noi-result-card\"\u003e\n          \u003cspan class=\"noi-result-label\"\u003ePotential gross income\u003c\/span\u003e\n          \u003cstrong class=\"noi-result-value\" data-noi-result=\"potentialGross\"\u003e$452,000.00\u003c\/strong\u003e\n          \u003cp class=\"noi-result-note\"\u003eFull base rent plus other income.\u003c\/p\u003e\n        \u003c\/div\u003e\n        \u003cdiv class=\"noi-result-card\"\u003e\n          \u003cspan class=\"noi-result-label\"\u003eEffective gross income\u003c\/span\u003e\n          \u003cstrong class=\"noi-result-value\" data-noi-result=\"effectiveGross\"\u003e$384,500.00\u003c\/strong\u003e\n          \u003cp class=\"noi-result-note\"\u003ePotential income after vacancy loss.\u003c\/p\u003e\n        \u003c\/div\u003e\n        \u003cdiv class=\"noi-result-card\"\u003e\n          \u003cspan class=\"noi-result-label\"\u003eVacancy loss\u003c\/span\u003e\n          \u003cstrong class=\"noi-result-value\" data-noi-result=\"vacancyLoss\"\u003e$67,500.00\u003c\/strong\u003e\n          \u003cp class=\"noi-result-note\"\u003eUncollected base rent implied by occupancy.\u003c\/p\u003e\n        \u003c\/div\u003e\n        \u003cdiv class=\"noi-result-card\"\u003e\n          \u003cspan class=\"noi-result-label\"\u003eOperating expenses\u003c\/span\u003e\n          \u003cstrong class=\"noi-result-value\" data-noi-result=\"operatingExpenses\"\u003e$113,000.00\u003c\/strong\u003e\n          \u003cp class=\"noi-result-note\"\u003eRecurring property-level costs.\u003c\/p\u003e\n        \u003c\/div\u003e\n        \u003cdiv class=\"noi-result-card\"\u003e\n          \u003cspan class=\"noi-result-label\"\u003eNOI margin\u003c\/span\u003e\n          \u003cstrong class=\"noi-result-value\" data-noi-result=\"noiMargin\"\u003e70.61%\u003c\/strong\u003e\n          \u003cp class=\"noi-result-note\"\u003eNOI as a share of effective gross income.\u003c\/p\u003e\n        \u003c\/div\u003e\n        \u003cdiv class=\"noi-result-card\"\u003e\n          \u003cspan class=\"noi-result-label\"\u003eOperating expense ratio\u003c\/span\u003e\n          \u003cstrong class=\"noi-result-value\" data-noi-result=\"expenseRatio\"\u003e29.39%\u003c\/strong\u003e\n          \u003cp class=\"noi-result-note\"\u003eOperating expenses as a share of effective gross income.\u003c\/p\u003e\n        \u003c\/div\u003e\n      \u003c\/div\u003e\n      \u003cdiv class=\"noi-live-region\" aria-live=\"polite\" aria-atomic=\"true\" data-noi-live\u003e\u003c\/div\u003e\n    \u003c\/aside\u003e\n  \u003c\/section\u003e\n\n  \u003csection class=\"noi-breakdown\"\u003e\n    \u003cdiv class=\"noi-breakdown-card noi-chart-card\" data-noi-chart-card=\"expenses\"\u003e\n      \u003cdiv class=\"noi-chart-heading-row\"\u003e\n        \u003cdiv class=\"noi-chart-heading-copy\"\u003e\n          \u003ch3\u003eOperating expense mix\u003c\/h3\u003e\n          \u003cp data-noi-chart-intro=\"expenses\"\u003eSee which recurring cost categories consume the most effective gross income.\u003c\/p\u003e\n        \u003c\/div\u003e\n        \u003cdiv class=\"noi-chart-total\"\u003e\n          \u003cspan\u003eTotal operating expenses\u003c\/span\u003e\n          \u003cstrong data-noi-chart-total=\"expenses\"\u003e$113,000.00\u003c\/strong\u003e\n        \u003c\/div\u003e\n      \u003c\/div\u003e\n      \u003cdiv class=\"noi-chart-cluster\"\u003e\n        \u003cdiv class=\"noi-chart-visual\" data-noi-chart-plot=\"expenses\" aria-label=\"Operating expense donut chart\"\u003e\u003c\/div\u003e\n        \u003cdiv class=\"noi-chart-legend\" data-noi-chart-legend=\"expenses\" aria-label=\"Operating expense chart legend\"\u003e\u003c\/div\u003e\n      \u003c\/div\u003e\n      \u003cdiv class=\"noi-chart-summary-wrap\" data-noi-chart-summary-wrap=\"expenses\"\u003e\n        \u003ctable class=\"noi-chart-summary-table\" aria-label=\"Operating expense chart data\"\u003e\n          \u003cthead\u003e\n            \u003ctr\u003e\n\u003cth scope=\"col\"\u003eCategory\u003c\/th\u003e\n\u003cth scope=\"col\"\u003eAmount\u003c\/th\u003e\n\u003cth scope=\"col\"\u003eShare\u003c\/th\u003e\n\u003c\/tr\u003e\n          \u003c\/thead\u003e\n          \u003ctbody data-noi-chart-summary=\"expenses\"\u003e\u003c\/tbody\u003e\n        \u003c\/table\u003e\n      \u003c\/div\u003e\n      \u003cdiv class=\"noi-chart-callout\" data-noi-chart-caption=\"expenses\"\u003eProperty tax is the largest expense category in the current assumptions.\u003c\/div\u003e\n    \u003c\/div\u003e\n  \u003c\/section\u003e\n\n  \u003csection class=\"noi-chart\"\u003e\n    \u003cdiv class=\"noi-chart-card\" data-noi-chart-card=\"income\"\u003e\n      \u003cdiv class=\"noi-chart-heading-row\"\u003e\n        \u003cdiv class=\"noi-chart-heading-copy\"\u003e\n          \u003ch3\u003eIncome-to-NOI bridge\u003c\/h3\u003e\n          \u003cp data-noi-chart-intro=\"income\"\u003eCompare the property's main annual income and cost checkpoints.\u003c\/p\u003e\n        \u003c\/div\u003e\n        \u003cdiv class=\"noi-chart-total\"\u003e\n          \u003cspan\u003eNet operating income\u003c\/span\u003e\n          \u003cstrong data-noi-chart-total=\"income\"\u003e$271,500.00\u003c\/strong\u003e\n        \u003c\/div\u003e\n      \u003c\/div\u003e\n      \u003cdiv class=\"noi-chart-cluster noi-income-cluster\"\u003e\n        \u003cdiv class=\"noi-chart-visual\" data-noi-chart-plot=\"income\" aria-label=\"Income and expense bar chart\"\u003e\u003c\/div\u003e\n        \u003cdiv class=\"noi-chart-legend\" data-noi-chart-legend=\"income\" aria-label=\"Income and expense chart legend\"\u003e\u003c\/div\u003e\n      \u003c\/div\u003e\n      \u003cdiv class=\"noi-chart-summary-wrap\" data-noi-chart-summary-wrap=\"income\"\u003e\n        \u003ctable class=\"noi-chart-summary-table\" aria-label=\"Income bridge chart data\"\u003e\n          \u003cthead\u003e\n            \u003ctr\u003e\n\u003cth scope=\"col\"\u003eMetric\u003c\/th\u003e\n\u003cth scope=\"col\"\u003eAmount\u003c\/th\u003e\n\u003cth scope=\"col\"\u003eDirection\u003c\/th\u003e\n\u003c\/tr\u003e\n          \u003c\/thead\u003e\n          \u003ctbody data-noi-chart-summary=\"income\"\u003e\u003c\/tbody\u003e\n        \u003c\/table\u003e\n      \u003c\/div\u003e\n      \u003cdiv class=\"noi-chart-callout\" data-noi-chart-caption=\"income\"\u003eThe current assumptions convert effective gross income into a positive NOI after recurring operating costs.\u003c\/div\u003e\n    \u003c\/div\u003e\n  \u003c\/section\u003e\n\n  \u003csection class=\"noi-table\"\u003e\n    \u003cdiv class=\"noi-table-card\" data-noi-table-card\u003e\n      \u003ch3\u003eAnnual operating statement\u003c\/h3\u003e\n      \u003cp class=\"noi-section-intro\"\u003eAll rows update from the same calculation model used by the results and charts.\u003c\/p\u003e\n      \u003cdiv class=\"noi-table-wrap\" data-noi-table-wrap\u003e\n        \u003ctable class=\"noi-data-table\" aria-label=\"Annual net operating income statement\"\u003e\n          \u003cthead\u003e\n            \u003ctr\u003e\n\u003cth scope=\"col\"\u003eLine item\u003c\/th\u003e\n\u003cth scope=\"col\"\u003eAnnual amount\u003c\/th\u003e\n\u003cth scope=\"col\"\u003eCalculation\u003c\/th\u003e\n\u003c\/tr\u003e\n          \u003c\/thead\u003e\n          \u003ctbody data-noi-statement-body\u003e\u003c\/tbody\u003e\n        \u003c\/table\u003e\n      \u003c\/div\u003e\n      \u003cdiv class=\"noi-table-note\" data-noi-table-note\u003eNOI excludes mortgage principal and interest, depreciation, income taxes, and capital expenditures so that the result focuses on property operations.\u003c\/div\u003e\n    \u003c\/div\u003e\n  \u003c\/section\u003e\n\n  \u003csection class=\"noi-education\" aria-label=\"How to use and interpret the calculator\"\u003e\n    \u003carticle class=\"noi-education-section\"\u003e\n      \u003ch3\u003eWhat this calculator estimates\u003c\/h3\u003e\n      \u003cp\u003eNet operating income, or NOI, is an annual property-level profitability measure. It begins with the rent a property could earn at full occupancy, adds other recurring property income, deducts vacancy loss, and then subtracts recurring operating expenses. The result is designed to show how the real estate itself performs before financing choices and owner-specific taxes.\u003c\/p\u003e\n      \u003cspan class=\"noi-formula\"\u003eNOI = effective gross income − operating expenses\u003c\/span\u003e\n      \u003cp\u003eThis tool follows a practical real estate operating statement. Full base rent equals rentable area multiplied by annual rent per area unit. Potential gross income equals full base rent plus other income. Vacancy loss applies to base rent, and effective gross income equals potential gross income minus vacancy loss. The operating expense categories are then added and deducted from effective gross income.\u003c\/p\u003e\n    \u003c\/article\u003e\n\n    \u003carticle class=\"noi-education-section\"\u003e\n      \u003ch3\u003eHow to complete each income field\u003c\/h3\u003e\n      \u003cul\u003e\n        \u003cli\u003e\n\u003cstrong\u003eRentable area\u003c\/strong\u003e is the portion of the property that can generate rent. Use square feet, square meters, rooms, units, or another consistent area basis. This field is required for an area-based rent calculation. A larger area raises full rental capacity when rent per area is unchanged.\u003c\/li\u003e\n        \u003cli\u003e\n\u003cstrong\u003eAnnual rent per area unit\u003c\/strong\u003e is the contracted or market annual rent for one area unit. Convert monthly rent to an annual amount before entering it. A common error is entering a monthly rate while treating it as annual, which understates the result by a factor of twelve.\u003c\/li\u003e\n        \u003cli\u003e\n\u003cstrong\u003eOther annual income\u003c\/strong\u003e captures recurring income outside base rent, such as parking, storage, laundry, signage, service reimbursements, or amenity fees. Use a supportable annual amount and avoid one-time sale proceeds. Higher other income increases potential and effective gross income dollar for dollar in this model.\u003c\/li\u003e\n        \u003cli\u003e\n\u003cstrong\u003eOccupancy rate\u003c\/strong\u003e is the expected occupied share of base rental capacity. Enter a percentage from 0% to 100%. A higher rate reduces vacancy loss and increases effective gross income and NOI. Historical occupancy, signed leases, tenant rollover, and local vacancy data can help support the assumption. The U.S. Census Bureau's \u003ca href=\"https:\/\/www.census.gov\/housing\/hvs\/\" target=\"_blank\" rel=\"noopener noreferrer\"\u003eHousing Vacancy Survey\u003c\/a\u003e provides broader vacancy context, but a property-specific estimate is still necessary.\u003c\/li\u003e\n      \u003c\/ul\u003e\n    \u003c\/article\u003e\n\n    \u003carticle class=\"noi-education-section\"\u003e\n      \u003ch3\u003eHow to classify operating expenses\u003c\/h3\u003e\n      \u003cp\u003e\u003cstrong\u003eProperty tax\u003c\/strong\u003e includes recurring real estate taxes for the period. \u003cstrong\u003eProperty management\u003c\/strong\u003e includes third-party fees or a realistic allowance for management work, even when the owner self-manages. \u003cstrong\u003eInsurance\u003c\/strong\u003e includes recurring property and liability coverage. \u003cstrong\u003eMaintenance\u003c\/strong\u003e covers preventive upkeep and recurring services, while \u003cstrong\u003erepairs\u003c\/strong\u003e covers normal work required to restore operating condition. \u003cstrong\u003eOther operating expenses\u003c\/strong\u003e can include owner-paid utilities, security, licenses, administration, janitorial service, and similar recurring costs. Each additional expense dollar lowers NOI by one dollar, while a zero entry means that category is omitted from the current scenario.\u003c\/p\u003e\n      \u003cp\u003eDo not mix debt service, depreciation, income taxes, acquisition costs, or major capital improvements into NOI operating expenses. Those items matter for cash flow and tax analysis, but they answer different questions. The IRS discusses rental income and common expense categories in \u003ca href=\"https:\/\/www.irs.gov\/publications\/p527\" target=\"_blank\" rel=\"noopener noreferrer\"\u003ePublication 527\u003c\/a\u003e; tax treatment is not always identical to NOI classification, so use the link for general context rather than as a substitute for professional advice.\u003c\/p\u003e\n    \u003c\/article\u003e\n\n    \u003carticle class=\"noi-education-section\"\u003e\n      \u003ch3\u003eHow to read every result\u003c\/h3\u003e\n      \u003cp\u003e\u003cstrong\u003ePotential gross income\u003c\/strong\u003e is the maximum annual income under the entered rent and other-income assumptions before vacancy. \u003cstrong\u003eVacancy loss\u003c\/strong\u003e is the portion of full base rent not collected because occupancy is below 100%. \u003cstrong\u003eEffective gross income\u003c\/strong\u003e is the income remaining after that vacancy loss. \u003cstrong\u003eOperating expenses\u003c\/strong\u003e are the total recurring costs entered in the six expense fields.\u003c\/p\u003e\n      \u003cp\u003e\u003cstrong\u003eNet operating income\u003c\/strong\u003e is the main result. A positive NOI means property operations generate income before financing and owner-level taxes. A zero NOI means effective gross income exactly covers operating expenses. A negative NOI means recurrin\ng operating costs exceed effective gross income and should prompt a review of rent, occupancy, expense assumptions, and property condition.\u003c\/p\u003e\n      \u003cp\u003e\u003cstrong\u003eNOI margin\u003c\/strong\u003e divides NOI by effective gross income. A higher margin means a larger share of collected operating income remains after recurring costs. \u003cstrong\u003eOperating expense ratio\u003c\/strong\u003e divides operating expenses by effective gross income. The two percentages generally add to 100% when effective gross income is positive. Neither ratio should be judged in isolation because property type, age, lease structure, utility responsibility, and local taxes can materially change normal cost levels.\u003c\/p\u003e\n    \u003c\/article\u003e\n\n    \u003carticle class=\"noi-education-section\"\u003e\n      \u003ch3\u003eHow to interpret the charts and statement\u003c\/h3\u003e\n      \u003cp\u003eThe expense donut groups the largest active expense categories and combines smaller categories into “Other” when more than five categories are present. The legend and chart table show the exact dollar amount and share for each displayed segment. If all expenses are zero, the visual is replaced with a compact message rather than a decorative placeholder.\u003c\/p\u003e\n      \u003cp\u003eThe income-to-NOI bridge compares potential gross income, vacancy loss, effective gross income, operating expenses, and NOI. The chart is useful for seeing whether vacancy or operating costs create the larger reduction. In the annual operating statement, the line-item column names each component, the annual-amount column shows its signed dollar effect, and the calculation column states the relationship used. The statement preserves negative NOI when costs exceed income. For a broader explanation of the metric and common uses, see Investopedia's \u003ca href=\"https:\/\/www.investopedia.com\/terms\/n\/noi.asp\" target=\"_blank\" rel=\"noopener noreferrer\"\u003eNOI overview\u003c\/a\u003e.\u003c\/p\u003e\n    \u003c\/article\u003e\n\n    \u003carticle class=\"noi-education-section\"\u003e\n      \u003ch3\u003eAssumption sensitivity and common mistakes\u003c\/h3\u003e\n      \u003cp\u003eNOI is especially sensitive to rent, occupancy, and large recurring expense categories. Increasing rent or occupied area raises base rental income. Increasing occupancy reduces vacancy loss. Expense reductions increase NOI dollar for dollar, but cutting maintenance too aggressively can create deferred repairs, tenant dissatisfaction, or future capital needs. Use assumptions that reflect sustainable operation rather than a temporary best case.\u003c\/p\u003e\n      \u003cp\u003eCommon mistakes include mixing monthly and annual figures, applying vacancy twice, treating security deposits as income, omitting a management allowance, excluding recurring owner-paid utilities, or counting mortgage payments as operating expenses. Another mistake is relying on a single year that contains unusual repairs or unusually low vacancy. A normalized multi-year view can be more informative for underwriting, while the current-year view remains useful for operating decisions. This calculator is educational and does not provide personalized financial, tax, legal, or investment advice.\u003c\/p\u003e\n    \u003c\/article\u003e\n  \u003c\/section\u003e\n\u003c\/div\u003e","brand":"FinancialModelsLab","offers":[{"title":"Default Title","offer_id":49909482127603,"sku":"net-operating-income","price":0.0,"currency_code":"USD","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0522\/6191\/2762\/files\/net-operating-income.webp?v=1783935403","url":"https:\/\/financialmodelslab.com\/products\/net-operating-income","provider":"Financial Models Lab","version":"1.0","type":"link"}