STR vs LTR calculator — Illinois
Illinois deals frequently hinge on property tax clarity and local economic trends. Default rent inputs reflect HUD FMR data—pair the calculator with counsel and local pros on legal and tax questions. Same math as the national STR vs LTR calculator; numbers are educational—not lender instructions.
Calculator
STR vs LTR
Compare operating scenarios on the same financing. Adjust occupancy, fees, and rent to see cash flow and coverage.
Δ cash flow $2,409 · Purchase $300,000
STR cash flow
$1,152
LTR cash flow
-$1,257
STR DSCR
1.72
LTR DSCR
0.21
STR assumptions
LTR assumptions
Results
Δ Cash flow
$2,409
Δ NOI/yr
$28,911
STR CF
$1,152
LTR CF
-$1,257
STR vs LTR calculator
Compare short-term (nightly) and long-term rent on the same property. STR uses annual occupancy and platform fees; LTR uses contract rent and vacancy. Shared mortgage and purchase price apply to both—numbers are illustrative.
Short-term (STR)
Long-term (LTR)
Shared
Comparison
Δ Monthly cash flow (STR − LTR)
$2,409
Δ NOI (annual, STR − LTR)
$28,911
Short-term (STR)
Effective monthly income
$3,549
Monthly cash flow
$1,152
NOI (annual)
$32,991
Cap rate
11.00%
DSCR
1.72
Above 1.0 covers debt
Cash-on-cash
23.05%
Long-term (LTR)
Effective monthly rent
$1,140
Monthly cash flow
-$1,257
NOI (annual)
$4,080
Cap rate
1.36%
DSCR
0.21
Below 1.0 is tight
Cash-on-cash
-25.14%
STR gross bookings = nights booked × nightly rate (nights = 365 × occupancy %). Net of platform fees = gross × (1 − fee %). LTR uses contract rent with vacancy. Loan balance = purchase × (1 − down %).
Frequently asked questions
- How do STR platform fees affect returns?
- Platform fees reduce gross booking revenue before operating expenses. This calculator applies your fee percentage to gross nightly revenue after occupancy.
- What occupancy makes short-term rental worth it vs long-term?
- It depends on nightly rate, fees, and expenses. Raise occupancy or nightly rate until STR cash flow and NOI beat your long-term rent scenario on the same financing.
Real estate investing in Illinois
Real estate investing in Illinois
Cook County and other jurisdictions have distinct assessment and appeal dynamics. Your modeled taxes should reflect what you expect after exemptions and appeals, not a single listing line item.
- Typical 2BR rent
- ~$1,200/mo
- Effective property tax
- ~1.95% of home value
- State income tax
- 4.95% flat
Rent: HUD FMR 2025 · Property tax: Tax Foundation 2022 · Adjust all calculator inputs to match your specific deal.
Other calculators for Illinois: BRRRR Calculator · Fix and Flip Calculator. All calculators · Investment property calculator