Project rental cash flow year by year with vacancy, expenses, and appreciation.
Break-Even Year-
5-Year ROI-
10-Year ROI-
Net Yield-
How to Use the Cashflow Calculator
Key Takeaways
Gross yield and monthly cash flow are completely different — a 3.6% gross yield condo can run at negative $1,500/month after mortgage and costs.
The break-even year (when cumulative cash flow turns positive) is the key output — for Singapore investment condos it typically falls between years 7 and 15.
Always model a pessimistic scenario with 8% vacancy and flat rent growth before buying — this tests whether your conviction survives a bad year.
Cash-on-cash return (net cash flow ÷ cash invested) is the correct metric for leveraged investors, not gross yield.
Positive net cash flow at 75% LTV is rare in Singapore CCR — OCR at current rental levels is more likely to achieve this.
What It Does
Project year-by-year rental cash flow across three scenarios — optimistic, base, and pessimistic. See when your cumulative cash flow turns positive, compare ROI at years 5 and 10, and stress-test your investment thesis with different rent, appreciation, and vacancy assumptions.
You can find this calculator in the Calculators tab on ShiokNest. It updates results instantly as you adjust inputs — no waiting, no page reloads.
Why It Matters
Gross rental yield does not equal cash flow. Many properties with attractive headline yields of 3-4% are actually cash-flow negative month after month once you factor in mortgage payments, property tax, maintenance, and vacancy. This calculator matters because:
How It Works
Navigate to Calculators — Click the "Calculators" tab in the ShiokNest navigation bar. All 26 calculators are grouped by purpose for easy access.
Select the calculator — Choose "How to Project Rental Property Cash Flow" from the calculator list. You will see default values already loaded so you can explore immediately.
️ Enter your values — Replace the defaults with your own numbers. The key fields are:
Review the results — The calculator updates instantly as you change any input. Year-by-year cash flow across 3 scenarios, break-even year, and ROI at years 5 and 10.
Run what-if scenarios — This is where the real power lies. Change one variable at a time to see its impact. For example, try increasing the interest rate by 1% or extending your holding period by 5 years. Note how the results shift.
Compare and decide — Run 2-3 different scenarios and note the results. This gives you a range of outcomes to base your decision on, rather than relying on a single projection.
Examples
Meet Marcus, buying a $1,500,000 condo for rental investment at $4,500/month. He puts 2…
Inputs
Property Price
$1,500,000
Loan Amount
$1,125,000 (75% LTV)
Interest Rate
3.5% p.a.
Monthly Rent
$4,500
Vacancy Rate
6% (~0.7 months/yr)
Annual Appreciation
3%
Results
Monthly Rent
$4,500/mo
Mortgage Payment
$5,632/mo
Net Cash Flow
-$1,882/mo
How to read this:
The three-scenario reality: Marcus's investment looks viable in the optimistic scenario, but the pessimistic scenario (lower rent, higher vacancy) turns cash-flow negative. The calculator projects these year by year, showing when cumulative cash flow turns positive and what ROI looks like at years 5 and 10. Here are some realistic scenarios you can plug into the calculator right now. Each one reflects a common situation Singapore property buyers face.
Tips & Pitfalls
Expert Tips
Use realistic assumptions — Singapore condo appreciation has historically averaged 2-4% per year. Avoid overly optimistic projections. When in doubt, use 3% as a baseline.
Be conservative with vacancy — Even in a hot rental market, budget for 1-2 months vacancy between tenants. A 5% vacancy assumption is the minimum.
Factor in MCST increases — Condo maintenance fees rise 3-5% per year on average. The pessimistic scenario should reflect this reality.
Common Pitfalls
Using gross yield as a proxy for cash flow — A 3% gross yield property can still be deeply cash-flow negative after mortgage, tax, and maintenance.
Ignoring capital expenditure — Major repairs (aircon replacement, waterproofing) happen every 5-7 years and are not covered by MCST fees.
Frequently Asked Questions
What is the difference between gross yield and net cash flow?
Gross yield is annual rent divided by property price — a quick headline metric that ignores all costs. Net cash flow is what actually lands in your pocket each month after deducting mortgage payments, property tax (10% of annual rent for non-owner-occupied), maintenance fees, insurance, and vacancy losses. A property with a 3.6% gross yield can run at negative $1,500/month cash flow when all costs are factored in. This calculator uses net cash flow, not gross yield.
When does a Singapore rental property typically break even on cash flow?
It depends on your loan rate, down payment, rent level, and appreciation assumptions. For a typical $1.5M condo with 25% down at 3.5% interest, renting at $4,500/month, the cumulative break-even (total rental income covering total out-of-pocket costs) often falls between years 8 and 12 in a base scenario. Higher down payments, lower interest rates, or above-market rent all accelerate break-even. Run the pessimistic scenario first — if break-even is beyond your planned hold period, the inves...
How should I choose between optimistic, base, and pessimistic scenarios?
Use the base scenario for your central forecast (median rent from URA data, 5-6% vacancy, 3% appreciation). Use pessimistic as a stress test — can you afford the monthly shortfall if rent drops 15% and the unit sits vacant for 2 months per year? If the pessimistic scenario requires you to top up more than $2,000/month from your salary indefinitely, the investment is over-leveraged for your income. The optimistic scenario is useful for understanding upside, but never make an investment decis...