Glossary · Returns
NOI (Net Operating Income)
Property income after operating expenses, before debt service and taxes.
Why it matters
Almost every real-estate debt and value calculation starts here.
Related
- Cap rate
Net Operating Income divided by asset value. A real-estate yield and valuation measure.
- DSCR (Debt Service Coverage Ratio)
Net Operating Income divided by annual debt service. Can the asset pay its loan from its own cash flow? Lenders typically want 1.25–1.40x or higher.
- Debt yield
Net Operating Income divided by loan amount. A rate-independent leverage check that ignores valuation noise.
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