Finance category
Mortgage, loan, investing, tax, and money calculators.
Portfolio Interest Coverage Calculator
Interest coverage strips amortization. This calculator computes portfolio-wide ICR.
Interest coverage ratio
2.13
Coverage excess $
$3,600,000
Cushion vs 2.0x
6.25%
How the math works
ICR = NOI ÷ interest expense. More permissive than DSCR on floaters or IO periods.
ICR is the first warning indicator in rising-rate environments. When ICR compresses while DSCR still passes, cash flow is being consumed by rates — reserve planning is urgent.
How to Use
- Enter portfolio NOI.
- Enter total annual interest expense.
- Read interest coverage ratio.
Frequently Asked Questions
ICR vs DSCR?
DSCR = NOI ÷ total debt service (interest + principal). ICR = NOI ÷ interest only. ICR is more forgiving; useful for IO bridge loans or when analyzing cash flow capacity pure of amortization.
Covenant floor?
Many REIT and fund facilities set ICR minimums of 2.0-3.0x. Below 2.0x signals tight margin — interest rate shock would push into breach quickly.
Trend management?
Track trailing 12-month ICR monthly. Declining trend with stable rates = NOI erosion. Stable ICR with rising rates = rent growth offsetting hikes. Diagnose before lender reviews.
How often should I rerun this?
Rerun this calculator whenever inputs change materially — new rent roll data, rate moves, loan balance updates, or quarterly operating data. For active deals, monthly refresh is typical. For stabilized assets under monitoring, quarterly is fine. Treat the output as a decision tool, not a one-time answer — market conditions evolve and so should your analysis.
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