Annual rental income minus operating expenses, before mortgage payments.
Net Operating Income is the annual income a property generates after subtracting all operating expenses but before deducting mortgage payments and income taxes. NOI is the foundation for many real estate calculations including cap rate and property valuation. Commercial lenders rely on NOI to determine how much they will lend on a property.
NOI = Gross Rental Income − Vacancy Loss − Operating ExpensesNOI equals gross rental income minus vacancy losses minus operating expenses (excluding mortgage).
A property collects $36,000 in annual rent with $1,800 in vacancy loss. Operating expenses (taxes, insurance, maintenance, management, HOA) total $9,200. NOI = $36,000 − $1,800 − $9,200 = $25,000.
Richify automatically calculates net operating income (noi) and other key real estate metrics for every property in your portfolio. Instead of plugging numbers into spreadsheets, you get instant analysis with built-in AI-powered insights to help you spot trends and opportunities across your holdings.
A property's annual net operating income as a percentage of its purchase price.
The percentage of gross rental income consumed by operating expenses.
The net cash a rental property generates after all expenses including mortgage payments.
The percentage of time a rental property sits empty without a tenant generating income.
Stop calculating real estate metrics by hand. Richify computes net operating income (noi) and 10+ other key metrics for every property in your portfolio.
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