Estimate Net Operating Income, cap rate, Debt Service Coverage Ratio (DSCR), cash-on-cash return and a simple IRR projection for office, retail, industrial, hospitality and other commercial property in Thailand — with full control over financing, income, expense and exit assumptions. Free, unbiased, no paid placement.
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Set the purchase price and how you’ll finance it. Switch financing off to see an all-cash, unlevered return.
Enter the property’s current annual gross income and typical Thailand commercial operating costs.
Used only to estimate cash-on-cash return and a simple IRR — every assumption below is yours to change.
Estimates only, for planning purposes — not investment, legal or tax advice. Cap rate, NOI, cash-on-cash return, DSCR and IRR depend entirely on the assumptions you enter; actual results vary with financing terms, market conditions, and Thailand-specific transaction taxes. Confirm figures with a licensed professional before making an investment decision. BAANLYY and One Life Ventures Co., Ltd. are not financial advisors.
This calculator turns a property's price and income into the five numbers most commercial underwriting starts with: Net Operating Income (NOI), the property's income after operating costs but before financing and tax; cap rate, NOI as a percentage of price, used as a quick valuation snapshot; Debt Service Coverage Ratio (DSCR), NOI divided by annual loan payments, the metric lenders use to judge financing risk; cash-on-cash return, your first-year pre-tax cash flow as a percentage of the actual cash you put in; and a simple IRR estimate, an annualized return across your projected holding period that accounts for financing, income growth, and an assumed sale at the end. See the full explanation of how these connect in Cap Rate, NOI & IRR Explained.
Cap rate is calculated on the full purchase price and is unaffected by how you finance the deal. Cash-on-cash return is different — it's calculated only against the cash you actually invest, so adding debt (a smaller down payment) increases your cash-on-cash return as long as the property's income exceeds the cost of the debt, a relationship known as positive leverage. Toggle financing on and off in the calculator, or adjust the down payment, to see how much of your return is coming from the property itself versus from the loan.
Cap rate and cash-on-cash return are both single-year snapshots. IRR is different: it needs a full projection, including how income might grow, how long you plan to hold, and what the property is likely worth when you sell. This calculator estimates a sale price by applying your chosen exit cap rate to a projected final-year NOI — the same valuation logic in reverse (Value = NOI ÷ Cap Rate) — then subtracts selling costs and any remaining loan balance to get net sale proceeds. Because the exit cap rate and rent growth are assumptions, not facts, treat the IRR figure as one scenario among several, not a guarantee.
To keep the calculator usable, several Thailand-specific items are left for you to layer on separately: corporate or capital gains tax on the eventual sale, which varies by ownership structure and holding period; foreign ownership restrictions on land under the Foreign Business Act, which typically push foreign investors toward a Thai limited company or long leasehold structure; currency risk if your capital is sourced in a currency other than baht; and the real-world difficulty many foreign buyers face securing local bank financing, which may mean the "financing" scenario here is closer to an all-cash purchase in practice. None of these change the underlying formulas, but all of them can change the number you should actually underwrite to.
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Educational estimating tool only — not investment, legal or tax advice. Results depend entirely on the assumptions you enter and are not a valuation, appraisal or projection of any specific property's performance. Confirm figures, financing terms and ownership structure with a licensed Thai professional before investing. BAANLYY and One Life Ventures Co., Ltd. are not financial advisors and never take paid placement in editorial content.