Investor Tools
Vacation Rental Calculator
Model the full return on an Orlando short-term rental — cap rate, cash-on-cash, DSCR, and NOI. Built specifically for the Orlando market with county tax presets (Polk 12%, Orange 12.5%, Osceola 13.5%), management fees, HOA/CDD dues, and optional DSCR financing.
Property
Revenue Assumptions
Operating Costs
Cap Rate
4.9%
$22,178 NOI on $455,000 all-in
Annual Pro Forma
Cap Rate
4.9%
Total Invested
$455,000
Gross Revenue
$56,502
RevPAR (per night)
$155
Estimates only — for informational and educational use. Not investment, tax, legal, or accounting advice. Outputs depend entirely on the inputs you provide and are not a guarantee of future performance. STR income is variable and seasonal. Verify any deal with your CPA, attorney, lender, and a property manager familiar with the specific community. See our Terms of Service.
How to Use This Calculator
Vacation rental returns are driven by four levers: nightly rate, occupancy, operating costs, and financing. This calculator lets you adjust each and see the impact on cap rate and cash-on-cash instantly. Toggle financing on to see your DSCR — the metric STR lenders use to approve loans.
Gross Revenue = Nightly Rate × 365 × OccupancyNOI = Gross Revenue − Taxes − Management − HOA − OpExCap Rate = NOI ÷ (Purchase + Furnishing)Cash-on-Cash = Annual Cash Flow ÷ Cash InvestedThe Levers That Matter Most
Occupancy Is the Swing Factor
The difference between 70% and 82% occupancy on a $215/night property is roughly $9,400 in additional gross revenue — often the difference between a 5% and 7%+ cap rate. Always underwrite conservatively, then treat upside as a bonus.
Self-Management Adds 2–3% to Returns
Setting management to 0% (self-managed) directly adds the fee back to NOI. On a $60K gross property, a 25% fee is $15,000 — a massive swing. But self-management requires time and local responsiveness. Some communities (Reunion) require a preferred manager.
County Choice Affects Net Yield
Polk County (12%) vs. Osceola County (13.5%) is a 1.5% tax difference. On $70K gross, that's ~$1,050/year. Combined with cheaper Polk licensing, the Davenport corridor keeps more of every booking dollar.
HOA + CDD Can Make or Break a Deal
Premium resort communities have HOA + CDD dues of $4,000–8,000+/year. These come straight off NOI. A community with $6,600 in dues needs materially higher nightly rates to match a lower-cost community's returns.
Before You Buy: Verify STR Legality
This calculator models returns — but returns are worthless if the property can't legally operate as an STR. Orlando STR rules vary by county, parcel zoning, and HOA. Always verify before you make an offer.
Worked Example: The Calculator's Default Property
Hypothetical numbers for illustration, not a quote or a forecast. The assumptions:
- →Osceola County preset (13.5% tax), $420,000 purchase plus $35,000 furnishing, $215 average nightly rate, 72% occupancy
- →25% management fee, $2,400 per year HOA/CDD, 18% other operating costs, all-cash (financing toggle off)
Output of this page's calculator at its default inputs. Same formulas at 82% occupancy give NOI of about $25,592 (5.6% cap rate), and at 62% about $18,764 (4.1%). All figures are illustrative estimates, not a forecast.
Inputs and Limits
Real estate property tax has no line of its own
Other OpEx is described as cleaning, utilities, supplies, insurance and maintenance. Annual property tax is not a separate input, so fold it into Other OpEx or HOA/CDD, or the NOI will be overstated.
County tax is treated as a cost
The county percentage is subtracted from gross revenue. How lodging taxes are collected and remitted depends on how your rates are priced, so confirm with your CPA and set the nightly rate to match.
Financing toggle is simple
With financing on, the loan is the purchase price less the down payment, amortized monthly, and cash invested is the down payment plus furnishing. Closing costs, loan fees and reserves are not included. DSCR is NOI divided by annual debt service.
One steady year
No seasonality, ramp-up year, rate or occupancy growth, capital replacement, income tax or depreciation. Input ranges: occupancy 40% to 95% and other operating costs 8% to 30% of gross.
Frequently Asked Questions
How do you calculate vacation rental ROI?
Vacation rental ROI starts with gross revenue (nightly rate × 365 × occupancy rate). Subtract operating costs — county tax, management fee, HOA/CDD dues, cleaning, utilities, insurance, and maintenance — to get NOI. Cap rate = NOI ÷ total invested (purchase + furnishing). With financing, cash-on-cash = annual cash flow after debt service ÷ cash invested.
What occupancy rate should I use for an Orlando vacation rental?
Orlando STRs average 70–85% annual occupancy. For conservative underwriting, model at 70–72%. Properties closer to Disney (Windsor Hills, Storey Lake) and well-managed properties with strong reviews achieve the higher end (80–86%). Always stress-test your numbers at lower occupancy.
What expenses should I include for a vacation rental?
County tax (12–13.5% depending on jurisdiction), management fee (0% self-managed, 20–30% professional), HOA/CDD dues ($1,500–8,000+/year for resort communities), and other operating costs (cleaning, utilities, supplies, insurance, maintenance) totaling roughly 15–22% of gross revenue. Don't forget furnishing/setup as part of your invested capital.
Which costs does this calculator leave out?
Real estate property tax as its own line, capital reserves for furniture and roof or HVAC replacement, loan closing costs, income tax, and any ramp-up period before reviews and bookings build. Add property tax and a reserve to Other OpEx if you want a conservative figure.
How much does occupancy change the answer?
A lot. At the default $215 nightly rate, moving from 72% to 82% occupancy raises gross revenue by about $9,417 and lifts the all-cash cap rate from 4.9% to about 5.6%, and dropping to 62% lowers it to about 4.1%. Run your own low case before offering.
Does the DSCR here match what an STR lender will use?
It is NOI divided by annual principal and interest on the loan you enter, which is the usual shape of the ratio. Lenders may haircut revenue, use their own expense assumptions or rely on a market rent study, so treat the result as a screening figure and ask the lender how they underwrite short-term rentals.
Found a Number That Works?
We'll find real STR-compliant properties matching your target returns, verify the zoning and HOA rules, and connect you with proven management companies.
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