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Short-term rental underwriting

Airbnb & Short-Term Rental Calculator

Underwrite an Airbnb or VRBO with realistic seasonality, cleaning fees, and platform commissions. Adjust the assumptions on the left to see ADR, RevPAR, NOI, and cash-on-cash returns update instantly.

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Industry-standard formulas

Cap rate, CoC, NOI, RevPAR

Shown on the PDF report and used in the file name.

Property & revenue assumptions

Acquisition

Seasonality

Fees & platform

Operating expenses (monthly)

Estimates only — verify local STR regulations and lodging taxes.

Results

Example deal — edit any number to analyze your own.

Cash-on-cash
2.36%
Cap rate
6.86%
Monthly cash flow
$269
Revenue model
Booked nights / year
229
Annual occupancy
62.88%
ADR (avg daily rate)
$232
RevPAR
$146
Gross room revenue
$53,220
Platform fees (15%)
-$7,983
Net room revenue
$45,237
Cash flow
Net room revenue
$45,237
Fixed operating (annual)
-$12,120
Co-host / management
-$0
Maintenance reserve
-$2,262
NOI
$30,855
Mortgage P&I ($2,302/mo)
-$27,628
Annual cash flow
$3,227
Total cash invested
$136,500

Cleaning fees are modeled as pass-through (charged to guest, paid to cleaner) and cancel out of cash flow. To stress-test, increase the cleaning-fee cost without raising the charge in your listing.

Want a long-term rental view instead? Read the rental property ROI guide.

Airbnb calculator FAQ

Common questions about short-term rental underwriting, ADR, occupancy, and platform fees.

How is Airbnb ADR (Average Daily Rate) calculated?
ADR is total nightly room revenue divided by the number of booked nights. It excludes cleaning fees and platform commissions.
What is a typical Airbnb host commission?
Airbnb's host-only fee is typically 14–16% of the booking subtotal. VRBO charges 5% commission plus a 3% payment-processing fee. This calculator defaults to 15% but is fully editable.
How do I account for seasonality?
Split the year into peak and off-peak months and enter a different nightly rate and occupancy for each. The calculator blends them into a weighted annual revenue figure.
Are cleaning fees revenue or pass-through?
Treat cleaning fees as pass-through: guests pay them, hosts pay cleaners. This calculator assumes the cleaning fee charged equals the cleaning cost paid, so it nets to zero in cash flow.

State-specific calculators and in-depth guides.