Cash-on-cash is the only return number that answers the real question: what is my actual cash earning? Enter your monthly cash flow and total cash invested below.
Cash-on-cash = annual pre-tax cash flow ÷ total cash invested. Cash flow here is after everything — operating expenses AND the mortgage. Cash invested is your down payment plus closing costs and any rehab you paid out of pocket.
Cap rate tells you about the property; cash-on-cash tells you about your money. Leverage can push cash-on-cash above or below the cap rate — that spread is exactly why (or whether) the financing helps you.
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Most residential investors target 8–12%. Higher is better, but weigh it against risk — a 15% CoC in a declining market can lose to 8% in a growing one.
No — it counts only cash flow. Add principal paydown and appreciation for total ROI; our rental ROI calculator does that math.
Close but not identical — ROI often includes equity gain and appreciation; cash-on-cash counts only the cash that flows back to you each year.
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Manage your property free on 10DoorsThis template is provided for general informational purposes and does not constitute legal advice. Landlord-tenant law changes and local ordinances may impose additional requirements — verify current state and local rules before serving any notice. Last reviewed September 2026.