Investor Calculator
Cash-on-Cash by Market
Annual cash flow divided by cash invested. The single most common metric for buy-and-hold rental investors. Plug your deal in, then compare against typical ranges in the most-trafficked DSCR markets.
Down payment + closing + rehab
Rent − all expenses (incl. mortgage)
Your Cash-on-Cash
16.00%
$9,600/yr cash flow on $60,000 invested
Typical CoC ranges by market
| Market | Typical CoC | Note |
|---|---|---|
| Memphis, TN | 10% - 14%above | Highest cash-on-cash in the country for stabilized rentals, traded against deferred maintenance risk. |
| Cleveland, OH | 9% - 13%above | Strong gross rent multipliers in mid-tier neighborhoods. |
| Indianapolis, IN | 7% - 11%above | Out-of-state-investor favorite; landlord-friendly laws keep returns stable. |
| Birmingham, AL | 8% - 12%above | Similar profile to Memphis but slightly tighter inventory. |
| Atlanta (metro), GA | 5% - 9%above | Wide range depending on submarket; inner suburbs sub-7%, exurbs 8-9%. |
| Charlotte, NC | 4% - 7%above | Appreciation play more than cash-flow play; CoC has compressed with prices. |
| Tampa, FL | 4% - 7%above | Insurance costs and property tax have compressed CoC vs 3-4 years ago. |
| Houston, TX | 5% - 8%above | Taxes are the swing variable - run actual county rate, not state average. |
| Phoenix, AZ | 3% - 6%above | Largely an appreciation market; CoC is modest. |
| Nashville, TN | 3% - 6%above | Compressed by appreciation; STR submarkets can be higher. |
| Detroit (metro), MI | 10% - 16%in range | Outer suburbs (Warren, Sterling Heights, Roseville). Inner-city CoC is higher but management is harder. |
| Kansas City, MO/KS | 7% - 10%above | Balanced cash-flow + appreciation; both sides of the state line viable. |
How to interpret
CoC is just one lens. It does not capture appreciation, principal paydown, or tax benefits. A property at 5% CoC in Tampa often outperforms a 12% CoC property in Memphis after 5 years of appreciation, principal paydown, and depreciation. Use multiple metrics.
DSCR rate sensitivity: a 50 bps move in your DSCR rate changes your monthly P&I by ~3-4% on a typical loan. That flows straight into cash flow and CoC. Lock your rate when the math works; do not chase a 25 bps drop and lose the deal.
Ranges are observational, not guarantees. We see the high end most often in clean stabilized deals; the low end in higher-appreciation markets where entry prices have compressed CoC. Your specific deal can land anywhere - the table is a sanity check.
Lock a rate, lock the CoC.