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Rental Property Cashflow Calculator

Estimate monthly and annual cashflow for a single rental property. Dual-currency output (CAD + USD) for cross-border landlords. Splits mortgage interest from principal so the deductible portion is visible.

⚠️ Important Disclaimer

This content is for informational purposes only and does not constitute legal, tax, or financial advice. Tax laws change frequently — always verify with the CRA and IRS or consult a qualified cross-border tax accountant before making decisions.

CAD
$
Rent collected per month before expenses
$
Interest portion only — deductible
$
Principal portion — not deductible but is a cash outflow
$
Annual property tax ÷ 12
$
Landlord / fire insurance, monthly
$
Only utilities you (not the tenant) pay
$
Average maintenance + reserve for major repairs
$
Property manager fee, typically 8-12% of rent
$
Reserve for vacant months — typically 5-8% of rent
$
HOA, advertising, legal, anything else
Monthly cashflow
Gross rent
$0
Cash out (incl principal)
$0
Monthly cashflow
$0
Annual cashflow
$0
Annual figures, both currencies
Cashflow CAD
$0
Cashflow USD
$0
Taxable net income CAD (T776 view)
$0
Taxable net income USD (Schedule E view)
$0
Cashflow includes mortgage principal as a cash outflow. Taxable net income excludes principal (only mortgage interest is deductible). Both calculations exclude depreciation/CCA — depreciation reduces taxable income further but is not a cash event.

How to use this calculator

Enter rent and expenses in your input currency (CAD or USD). The calculator produces both monthly and annual cashflow, and shows the taxable net income view that maps to your CRA T776 or IRS Schedule E return.

Cashflow vs taxable income

Cashflow = gross rent minus all cash outflows (including mortgage principal). It tells you whether the property pays for itself month to month.

Taxable net income = gross rent minus deductible expenses (excluding principal, since principal is not deductible). It tells you what shows on your tax return before depreciation/CCA adjustments.

Cross-border note

For Canadians with US property: the USD figures map to your Schedule E. The CAD figures map to T776 — applying the Bank of Canada annual average exchange rate is what CRA expects.

For Americans with Canadian property: the CAD figures map to your T776 (Section 216 if you elect it). The USD figures map to Schedule E on your 1040.

FAQ

What's the difference between cashflow and taxable net income?
Cashflow is the actual cash that arrives or leaves your bank account each month. Taxable net income is what tax authorities (CRA, IRS) see — and the two diverge because mortgage principal is a cash outflow but not a deductible expense, while depreciation (or CCA) is a deductible expense but not a cash event. A property can be cashflow-positive but taxable-loss, or vice versa.
Why does the calculator show both CAD and USD?
Cross-border landlords need both views. CAD for CRA reporting (T776) and USD for IRS reporting (Schedule E). The calculator converts using the Bank of Canada annual average rate by default — you can override the rate if your situation requires a different basis.
What's a reasonable vacancy allowance?
5-8% of gross rent is the standard reserve for most rental markets. Tighter rental markets (Toronto, Vancouver, Manhattan) often run 3-5%. Vacation rentals or seasonal markets can run 15-25%. The point of the allowance is to budget for the months you're not collecting rent — eviction periods, between-tenant turnover, off-season vacancy.
What's a reasonable repairs + capex reserve?
Rule of thumb: 1-2% of property value annually for older properties, 0.5-1% for newer or recently renovated properties. So a $400,000 property might budget $4,000-$8,000 per year, or $333-$667 per month. This covers both routine maintenance (paint, fixtures, appliance repairs) and the eventual replacement of bigger items (roof, HVAC, hot water tank).
Should I include depreciation / CCA?
This calculator doesn't include depreciation or Capital Cost Allowance because they're tax-only adjustments, not cashflow. For US Schedule E, residential rental property depreciates over 27.5 years under MACRS. For Canadian T776, you can claim CCA Class 1 (4% declining balance for buildings) but most cross-border landlords skip CCA on Canadian property to avoid recapture at sale. Get specific advice from your CPA before claiming CCA.
How does this differ from the Schedule E calculator?
The Schedule E calculator is multi-property, US-tax-focused, and produces a Schedule E line-by-line breakdown. This cashflow calculator is single-property, dual-currency, and focused on the question "will this property pay for itself month-to-month?" — useful before you buy a property or when modeling a rent increase.

Track real cashflow, not estimates.

BorderBird auto-imports rent from Gmail, captures utility bills, and produces dual-currency P&L from your actual transactions — not pre-purchase guesses.

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Related tools and guides

CRA Remittance Calculator →
Part XIII withholding for non-resident landlords
Schedule E Calculator →
Multi-property US tax-form view
BorderBird Cashflow feature →
Real cashflow from your actual transactions
USD/CAD Exchange Rates →
Official Bank of Canada annual rates