💹

BRRRR Return Calculator

Model a Buy, Rehab, Rent, Refinance, Repeat deal: cash left in after the refinance, cash flow and cash-on-cash return.

Purchase price

Rehab cost

Buying + holding costs

After-repair value (ARV)

Refinance loan-to-value

New loan rate

New loan term

Monthly net operating income

Loading calculator…

How it works

Total invested = purchase + rehab + costs · Refi loan = ARV × LTV% · Cash left in = total invested − refi loan · Cash flow = NOI − new payment · Cash-on-cash = annual cash flow ÷ cash left in

BRRRR works by forcing appreciation through renovation and then refinancing against the higher after-repair value, so most or all of your original cash comes back out to reuse on the next deal. The headline number is the cash left in the deal: total money invested minus the new loan proceeds. When the refinance loan exceeds what you put in, cash left in is zero (or negative — you pulled money out) and the cash-on-cash return is effectively infinite, which is the strategy’s whole appeal. The catch is that the new loan payment must still leave positive cash flow, or you have created a fast-draining liability.

Worked example

You buy for $120,000, spend $40,000 on rehab and $8,000 on costs — $168,000 in. It appraises at $210,000 and you refinance at 75% LTV for $157,500 at 7% over 30 years (payment ≈ $1,048). Cash left in is $168,000 − $157,500 = $10,500. With $900 monthly NOI, cash flow is about −$148 a month, a warning that the refinance is a bit too aggressive for this rent.

Frequently asked questions

What does a “full BRRRR” mean?

A full or “infinite return” BRRRR is one where the refinance returns 100% of the cash you invested, leaving nothing in the deal. Because cash-on-cash divides cash flow by cash invested, pulling all your money back out makes the return mathematically infinite — provided the property still cash-flows.

Why can the appraisal make or break the deal?

The refinance loan is a percentage of the appraised after-repair value, not of what you spent. If the appraisal comes in low, the loan shrinks, more of your cash stays trapped, and the return falls. Conservative ARV estimates protect you from this.

Does this include closing costs on the refinance?

Fold refinance closing costs into your holding-costs figure or treat them as extra cash left in. This calculator models the core loan mechanics; add those fees to see a fully loaded result.

Related calculators

Fix-and-Flip 70% Rule Calculator

Apply the 70% rule to a flip: the maximum you should pay given the after-repair value, rehab budget and carrying costs.

Cash-on-Cash Return Calculator

Measure the annual pre-tax cash flow a leveraged rental returns on the actual cash you put in — the investor’s bottom line.

After-Repair Value (ARV) Calculator

Estimate a property’s after-repair value from comparable sales price-per-square-foot and your subject’s finished size.

Rental Property Cash Flow Calculator

Work out the monthly and annual cash flow of a rental property from rent, vacancy, operating costs and the mortgage — plus NOI, cap rate, cash-on-cash return, DSCR, break-even rent and occupancy, a year-by-year projection with rent and expense growth, equity, sale proceeds, total profit and IRR.

Loan-to-Cost (LTC) Calculator

Find the loan-to-cost ratio and required equity on a development or rehab deal from the loan amount and total project cost.

Educational estimate, not financial or investment advice. Real returns depend on financing, local costs and market conditions.