Rental Yield Calculator (Mietrendite)
Gross yield sells listings; net yield pays your bills. Calculate both — plus the pre-tax monthly cash flow after debt service — the way German professionals do.
Get a real financing check — freeGross yield = annual cold rent ÷ price. Net yield = (rent after vacancy − non-recoverable Hausgeld & admin) ÷ total investment incl. purchase costs. Negative pre-tax cash flow can still be attractive after AfA depreciation — ask us. Illustrative estimate — actual terms depend on the property, your profile and the lender. Not financial or tax advice.
How this calculator works
Gross yield (Bruttomietrendite) is annual cold rent divided by the purchase price — quick, comparable, and flattering because it ignores costs. Net yield (Nettomietrendite) divides the rent you actually keep (after vacancy and non-recoverable costs) by your total investment including 8–12% purchase costs. It's typically 0.8–1.2 points lower.
The non-recoverable block is what separates real from paper returns: management fees and the maintenance reserve inside your Hausgeld (roughly €50–100/month for a typical flat) stay with you, while most operating costs pass to the tenant via the Nebenkostenabrechnung.
Cash flow completes the picture: net rent minus debt service (interest + Tilgung). Slightly negative pre-tax cash flow is common — and often fine after tax, because AfA depreciation shelters rental income. Our 25 city reports show verified average yields from ~2.9% (Munich) to ~5.4% (Chemnitz-class markets) as of 2026.
Frequently asked questions
What is a good rental yield in Germany in 2026?
Gross yields in the 25 largest cities range roughly 2.9% (Munich) to 5%+ (Ruhr cities, Leipzig-class markets). A 'good' yield balances income against growth: A-cities trade yield for appreciation, B/C-cities the reverse.
What's the difference between gross and net rental yield?
Gross = annual cold rent ÷ purchase price. Net = (rent after vacancy and non-recoverable costs) ÷ (price + purchase costs). Net is the honest number — always 0.5–1.5 points lower.
Is negative cash flow always bad?
No. With 2% Tilgung you're building equity monthly, and AfA depreciation often turns a pre-tax negative into an after-tax positive for higher earners. What matters is total return and that you can comfortably carry the monthly difference.
Which costs can I pass on to tenants?
Most operating costs (heating, water, Grundsteuer, building services) pass through via the Nebenkostenabrechnung. You keep: property management, WEG administration fees, maintenance reserve, repairs and vacancy risk.