Cash-on-cash uses total cash flow before CapEx reserves. FCF deducts CapEx reserves for a conservative, more realistic distributable cash figure.

What reduces FCF most?

High vacancy, rising operating expenses, increasing interest rates on variable-rate debt, and deferred maintenance that triggers large CapEx all compress FCF.

How to model FCF over hold period?

Project annual NOI growth (rents minus expenses), deduct fixed debt service, and subtract planned CapEx schedule. Add terminal value at exit for full return picture.

Free Cash Flow After Debt Service Calculator

Calculate free cash flow = NOI − Annual Debt Service − CapEx Reserves. True cash available to investors after all obligations. Foundation for distribution calculations.

Principal ($)

Annual Rate (%)

Years

Compounding / Year

$ Finance Disclaimer: These calculators are for educational and illustrative purposes only. Results do not constitute financial advice. Consult a licensed financial advisor before making investment or borrowing decisions.

How to Use

Enter the values for the scenario you are assessing. Calculate free cash flow = NOI − Annual Debt Service − CapEx Reserves. True cash available to investors after all obligations. Foundation for distribution calculations. Use the fcf after debt service result to inform your calculation.

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Frequently Asked Questions

FCF vs cash-on-cash?

What reduces FCF most?

How to model FCF over hold period?