NewMeet Cai — Your AI Asset Management & Analyst TeamLearn more
BubbleGum BI Logo

NOI Year-over-Year Comparison Calculator

Compare Net Operating Income across two periods side by side. Identify whether NOI growth is driven by revenue gains or expense control — and spot margin compression early.

2025

Total scheduled rent collected

$

Revenue lost to vacancy and bad debt

$

Fees, laundry, parking, etc.

$

All expenses excluding debt service

$

2026

Total scheduled rent collected

$

Revenue lost to vacancy and bad debt

$

Fees, laundry, parking, etc.

$

All expenses excluding debt service

$

How NOI Year-over-Year Is Calculated

NOI = (Revenue - Vacancy + Other Income) - Operating Expenses

Revenue Growth vs Expense Growth

Healthy NOI growth requires revenue to outpace expenses. If expenses grow faster than revenue, NOI margin compresses — even if the top line is increasing. This calculator surfaces that dynamic clearly.

NOI Margin

NOI as a percentage of effective revenue. Multifamily NOI margins typically range from 55% to 70%. A declining margin signals operational inefficiency or revenue pressure that warrants investigation.

Why Year-over-Year NOI Tracking Matters

Budget Variance

Compare actual performance against prior year to identify budget variances and hold operators accountable to improvement targets.

Valuation Impact

Since property value = NOI / cap rate, even small YoY NOI changes translate to significant shifts in asset valuation.

Investor Reporting

YoY NOI comparison is the backbone of quarterly investor updates. Clearly communicate performance trends to LPs and stakeholders.

Stop building YoY comparisons in spreadsheets.

BubbleGum BI generates year-over-year NOI comparisons automatically for every property in your portfolio — with trend analysis, budget variance, and the ability to drill into any line item.

Schedule a Demo

Frequently Asked Questions

What is a good NOI growth rate for multifamily?
A healthy multifamily property typically targets 3-5% annual NOI growth. Top-performing assets in strong markets may achieve 5-8%. Anything below inflation (2-3%) means the property is losing real value. Value-add repositioning can generate 15-30%+ NOI lifts in the first 1-3 years.
How does NOI margin affect property valuation?
NOI margin directly impacts valuation through the cap rate formula (Value = NOI / Cap Rate). A property with higher NOI margin generates more income per dollar of revenue, making it more valuable. A 5% margin improvement on $2M revenue equals $100K more NOI — at a 5% cap rate, that is $2M in additional property value.
What causes NOI margin compression?
Common causes include insurance cost spikes, property tax reassessments, rising payroll costs, deferred maintenance catching up, and concession-heavy leasing environments. Revenue growing at 2% while expenses grow at 5% compresses margins even though income is technically increasing.
Should I compare calendar years or trailing twelve months?
Both are useful. Calendar year comparisons align with tax reporting and budgets. Trailing twelve months (T12) provides a more current picture and smooths out seasonal fluctuations. For active portfolio management, T12 comparisons updated monthly are most actionable.
How does BubbleGum BI automate NOI tracking?
BubbleGum BI connects directly to your property management system and calculates NOI daily for every property. Cai provides automated year-over-year comparisons, budget variance analysis, and proactive alerts when NOI trends are moving in the wrong direction — across your entire portfolio.