Rental yield and ROI calculator for property in Georgia

What this calculator shows

The yield most people quote for Georgian property is gross: a year of rent divided by the price. It is easy to find and easy to compare, and it is not what you keep. Between gross and net sit empty months, a manager's fee, repairs, building charges, insurance and tax, and over a holding period the price of the apartment may rise or fall. This calculator runs that whole chain for one apartment. It shows the gross yield, the net income and yield before and after tax, how many years of net income it takes to earn back the investment, and the total return over the period you plan to hold, including any change in the price that you assume.

The default values reproduce the worked example in our guide to investing in Georgian real estate: a 55 square metre Tbilisi flat at Galt & Taggart's December 2025 averages of $1,373 per square metre and $9.8 rent per square metre a month. Replace them with the figures for the apartment you are considering. Every result is an estimate for planning, not a forecast or a promise.

What each field means

Total investment, USD

Everything you spend to own the apartment and make it lettable: the price, the purchase costs and the furniture. The buying cost calculator gives you this figure.

Monthly rent, USD

The rent the apartment can actually achieve on a long let, not the asking rent in listings. For reference, Galt & Taggart reports Tbilisi rents from about $8.4 to $14.2 per square metre a month by district in December 2025. For short stays, enter the average monthly income across the year.

Empty months per year

Time without a tenant between lets, or the quiet months for a seasonal apartment. One month a year is a common planning assumption for a long let; use more for short stays.

Management, % of rent collected

A manager's fee if someone else runs the letting. The default of 10% is an assumption for illustration, not a market rate; ask for a written quote, or enter 0 if you manage it yourself.

Repairs reserve, % of full rent

Money set aside for repairs and replacing furniture over time. The default of 5% is a planning assumption.

Building charges, USD per month

The monthly contribution to the owners association or management company that you pay as the owner. Ask for the current amount before buying.

Insurance and other costs, USD per year

Annual costs not covered elsewhere, such as insurance, utilities you pay between tenants, or accounting help.

Tax on rent collected, %

The rent from residential space that is let for residential purposes is taxed at 5% of the rent received, without deductions, under Article 81(2) of the Tax Code. Other lettings, and short stays, may be taxed differently; confirm your rate with an accountant.

Price change per year, %

Your own assumption about how the apartment's value will change. The default is zero. Published outlooks are opinions about averages, not forecasts for a specific apartment, so test several values, including negative ones.

Holding period, years

How long you expect to keep the apartment. It is used for the total return.

Assumptions

How the results are calculated

Gross yield is the full year's rent divided by the total investment. Rent collected is the monthly rent multiplied by the months the apartment is let. Net income before tax is rent collected minus management (a percentage of rent collected), the repairs reserve (a percentage of the full year's rent), twelve months of building charges and the annual other costs. Tax is the tax rate applied to rent collected. Net income after tax is net income before tax minus tax. Payback is the total investment divided by net income after tax, in years. Total return adds net income after tax for each year of the holding period to the change in value of the investment at the annual rate you assume, compounded.

The inputs in the second and third cases are illustrative assumptions chosen to show how the calculator behaves, not market data for a specific apartment.

Follow the default case step by step. A full year of rent is $539 × 12 = $6,468, which is 8.6% of $75,515. With one empty month, the rent collected is $5,929. Management takes 10% of that, about $593, and the repairs reserve takes 5% of the full year's rent, about $323, leaving $5,013 before tax. The 5% tax on rent collected is about $296, so $4,716 remains, 6.2% of the investment. Divided into $75,515, that gives a payback of 16 years, and five years of net income add up to $23,581 with no price change.

Small changes in the inputs move the result more than most people expect. In the same case, a second empty month cuts the net income after tax to about $4,258, a net yield of 5.6%, and stretches the payback to 18 years. That is why it is worth testing the inputs you are least sure of, the rent and the empty months, before the ones that are fixed by law, such as the tax rate.

How to read the result

Look first at the gap between gross and net. In the default case, ordinary costs and a 5% tax turn an 8.6% gross yield into about 6.2% after tax. If the gap in your own case is much smaller, check whether you have left out a cost; if it is much larger, the apartment may be priced for something other than rent.

Then look at the price change. In the examples, a modest annual price rise contributes much of the total return over five or ten years, which is why the assumption deserves care: run the calculator again with zero and with a negative rate, and see whether the investment still makes sense on rent alone. Payback ignores price changes entirely and shows how long the rent alone takes to return what you put in.

Finally, remember what is not here: currency movements between the dollar, the lari and your own currency, the tax on a sale within two years, your home country's taxes, and the cost of borrowing if you use a loan. The guide to money and taxes covers them.