5 Cashflow Metrics Every Property Investor Should Track Monthly
If you're not tracking these five numbers every month, you're flying blind.
Most NZ property investors check their bank balance, see the rent has arrived, and move on. That's not portfolio management — that's hoping. Here are the five metrics that give you a real picture of your portfolio's financial health.
1. Net Weekly Cashflow Per Property
What it is: Weekly rent minus all costs (mortgage, management, rates, insurance, maintenance reserve, vacancy reserve) divided by 52.
Why it matters: This is the truest single measure of whether a property is working for you or costing you. A property with a positive net cashflow is contributing to your financial position. A negative one is a claim on your personal income.
Target: Know this number for each property. Review it quarterly as rents and costs change.
2. Gross Yield
What it is: (Annual rent ÷ Current property value) × 100
Why it matters: Gross yield tells you the income efficiency of the asset. As property values change, your yield changes — even if the rent stays the same. Tracking it monthly ensures you know whether your portfolio is becoming more or less efficient.
Target: Know your gross yield. Compare it against your mortgage rate. If gross yield is below your mortgage rate, you are almost certainly cashflow negative.
3. Net Yield
What it is: (Annual rent minus all expenses ÷ Current property value) × 100
Why it matters: Net yield is what you actually earn from the property, expressed as a percentage of the asset's value. It's the honest version of gross yield.
Target: In the current NZ market, net yields of 3.5–4.5% are achievable in the right locations. Under 3% suggests the property is a capital growth play, not an income play — make sure that's intentional.
4. Cumulative Vacancy Rate (Year to Date)
What it is: Total vacant days in the current year ÷ Total possible rental days × 100
Why it matters: A single vacancy event can wipe out months of positive cashflow. Tracking your cumulative vacancy rate tells you whether your actual performance is tracking in line with your budget assumption.
Target: Under 4% (approximately 2 weeks per year). If you're running above this, review your tenancy management and rent pricing.
5. Equity Position (LVR)
What it is: Current mortgage balance ÷ Current estimated property value × 100
Why it matters: Your LVR determines your strategic options. Can you refinance? Can you access equity for a deposit on the next property? Are you at risk if values decline? Tracking this monthly — using updated capital value estimates — keeps you honest.
Target: Moving directionally towards 60% or below over time. Under 50% opens strategic options.
How to Track These Without Pain
You could build a spreadsheet. Or you could use a tool that does it for you.
The BI SmartStudio Rental Performance Studio Power BI dashboard tracks all five of these metrics — and more — across your entire portfolio. One dashboard, updated whenever you refresh, showing you exactly where you stand.