Compare two properties
Put two properties side by side and see the cash needed to buy each, the repayments, the yearly cash flow before and after tax, the yields and the equity built over 5, 10 and 20 years. Figures current as at the 2026–27 financial year, checked October 2026. Nothing you type leaves your browser.
Income is used to work out the tax effect of a rental loss or profit at resident rates, including the Medicare levy: 2026–27 rates for the first year and 2027–28 rates after that. The $1,000 standard deduction for work-related expenses comes off your salary. Salary is held the same each year.
The numbers side by side
| Measure | House | Apartment | Difference |
|---|---|---|---|
| Buying | |||
| Deposit | $150,000 | $120,000 | −$30,000 |
| Stamp duty | $26,775 | $31,070 | +$4,295 |
| Upfront cash (deposit and duty) | $176,775 | $151,070 | −$25,705 |
| LMI estimate, added to the loan | $0 | $0 | $0 |
| Loan | $600,000 | $480,000 | −$120,000 |
| Monthly repayment | $3,675 | $2,940 | −$735 |
| First year | |||
| Rent received | $32,448 | $29,952 | −$2,496 |
| Costs | −$10,096 | −$10,296 | −$200 |
| Loan repayments | −$44,098 | −$35,278 | +$8,820 |
| Cash flow before tax | −$21,746 | −$15,622 | +$6,123 |
| Interest (part of repayments) | $37,001 | $29,600 | −$7,400 |
| Rental profit or loss for tax | −$14,648 | −$9,945 | +$4,704 |
| Tax saved (+) or extra tax (−) | $4,687 | $3,182 | −$1,505 |
| Cash flow after tax | −$17,058 | −$12,440 | +$4,618 |
| Gross yield | 4.51% | 5.20% | +0.69 pts |
| Net yield | 2.98% | 3.28% | +0.30 pts |
| Over time | |||
| Equity after 5 years | $397,523 | $264,861 | −$132,662 |
| Equity after 10 years | $716,901 | $442,543 | −$274,358 |
| Equity after 20 years | $1,661,945 | $931,451 | −$730,494 |
| Total cash flow after tax, 5 years | −$82,136 | −$58,305 | +$23,831 |
| Total cash flow after tax, 10 years | −$156,093 | −$106,032 | +$50,061 |
| Total cash flow after tax, 20 years | −$278,490 | −$164,646 | +$113,845 |
Difference is Apartment less House. Negative figures are money going out.
Equity over 20 years
Value less the loan at the end of each year, in future dollars.
Show the chart as a table
| Year | House | Apartment |
|---|---|---|
| Year 0 | $150,000 | $120,000 |
| Year 1 | $194,597 | $146,678 |
| Year 2 | $241,522 | $174,453 |
| Year 3 | $290,897 | $203,374 |
| Year 4 | $342,852 | $233,492 |
| Year 5 | $397,523 | $264,861 |
| Year 6 | $455,052 | $297,537 |
| Year 7 | $515,591 | $331,580 |
| Year 8 | $579,299 | $367,052 |
| Year 9 | $646,344 | $404,016 |
| Year 10 | $716,901 | $442,543 |
| Year 11 | $791,156 | $482,703 |
| Year 12 | $869,306 | $524,572 |
| Year 13 | $951,557 | $568,230 |
| Year 14 | $1,038,126 | $613,759 |
| Year 15 | $1,129,243 | $661,246 |
| Year 16 | $1,225,147 | $710,785 |
| Year 17 | $1,326,095 | $762,470 |
| Year 18 | $1,432,353 | $816,404 |
| Year 19 | $1,544,204 | $872,694 |
| Year 20 | $1,661,945 | $931,451 |
How the numbers are worked out
- Upfront cash is the deposit plus stamp duty. Duty uses the same 2026–27 state tables as the stamp duty calculator, with owner-occupier rates for a home to live in where the state has them. First home buyer concessions are not applied.
- Lenders mortgage insurance is estimated when the deposit is under 20% and added to the loan, not paid in cash. A deposit below 5% is treated as 5%.
- Repayments are principal and interest, with interest worked out monthly at the yearly rate divided by 12.
- Cash flow before tax is the rent received, less vacancy, the management fee, the yearly costs and the full loan repayments. The principal part of each repayment is money you keep as equity, so it is counted in cash flow but not as a tax deduction.
- Tax effect applies to an investment only. Rent received less interest and costs is the rental profit or loss. The calculator works out tax on your salary with and without it, at resident rates including the Medicare levy and the low income tax offset. From 2026–27 the $1,000 standard deduction for work-related expenses comes off your salary first. The first year uses 2026–27 rates and later years use 2027–28 rates, when the bottom rate drops to 14%. A loss lowers tax (negative gearing) and a profit adds to it.
- Gross yield is a year's rent over the price. Net yield is the first year's rent received, less vacancy and costs but before interest, over the price.
- Equity is the property's value less the loan. The value grows by the capital growth rate each year, compounded. Rent grows by the rent growth rate and costs by the shared cost rate each year. Figures over time are in future dollars, not adjusted for inflation.
The calculator uses the same stamp duty, mortgage insurance, loan and tax rules as the MyFinancialFuture planner.
What it leaves out
Depreciation on the building and fittings is not included, so the tax effect for a newer property can be larger than shown. There is no capital gains tax or selling cost on a sale, no land tax, and no conveyancing, inspection or loan fees at purchase. Assumes one owner: the whole rental profit or loss counts against one income. Interest rates and your salary are held at today's levels for the whole period, tax rates stay at 2027–28 levels after the first year, and the loan is assumed to be principal and interest with no offset account or extra repayments. Rent is assumed to be paid in full apart from the vacancy entered. LMI is an estimate, and actual premiums vary by lender.
Next steps
Duty in every state, with the concession caps, is in stamp duty by state in 2026–27. How a gain is taxed when a property is sold is covered in the capital gains tax discount, and paying down a loan against investing in paying off the mortgage or investing. To see either property alongside the rest of your finances over the years, open the planner. It is free and needs no sign-up.