Pick short-term (Airbnb) or midterm (furnished stays of 30 nights or more), fill in your numbers, and see what the property could earn before the mortgage. Net operating income, or NOI, is what is left after operating costs and before you pay the loan.

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How the numbers work

Short-term rentals

Revenue is the nights you book at your normal rate, plus Derby weekend priced on its own, plus any cleaning fees you charge guests. From that the calculator subtracts platform and management fees, what you pay for cleaning, supplies, utilities, insurance, property tax, and permit fees. Break-even occupancy is the share of normal nights you have to book to cover the fixed costs, after Derby weekend does its part.

The calculator also runs the same property at 38% and 56% occupancy. Those are the low and high ends of the two trackers we looked at for Louisville, AirROI and AirDNA. Underwrite the low end and let the high end be a pleasant surprise.

Midterm rentals

Revenue is monthly rent times the months you are actually occupied. Midterm stays turn over less often, so cleaning is a small line, but utilities and internet are usually yours to pay. The calculator also shows how many years the furnishings take to pay for themselves.

Louisville numbers to know

• AirDNA counted 3,215 active short-term rental listings in Louisville in August 2026, down about 20% from a year earlier, with an average of about $218 a night and 56% occupancy.
• AirROI, another tracker, shows roughly $30,700 a year and 38% occupancy. Trackers count differently, so treat any citywide number as a rough guide, not a promise for your property.
• Derby weekend 2026: the average three-night Airbnb stay ran about $2,552, against roughly $761 the week before and $735 the week after.
• Louisville charges an 8.5% transient room tax on stays under 30 nights. Guests pay it on top of your rate and the major platforms usually collect and remit it. You still register with the Revenue Commission and file an annual net profit return.
• Stays of 30 nights or more fall outside Louisville's short-term rental ordinance. Nationally, bookings of 28 nights or more grew 136% between 2019 and 2025, according to Furnished Finder and AirDNA.

Before you buy, check the address against our Louisville short-term rental rules checker and read the short-term rental guide so the permit, zoning, and HOA answers come before the offer. For stays of 30 nights or more, start with the midterm rental guide. Planning the tax side too? Try the short-term rental tax qualifier and the cost segregation calculator, and read the best practices guide.

Frequently asked questions

Does this include the 8.5% Louisville room tax?

No. Guests pay that tax on top of your rate and the platform usually remits it, so it is not your revenue or your cost. Direct bookings outside a platform mean you file the transient tax return yourself.

What occupancy should I use?

Start at the low end. Trackers disagree, with AirROI near 38% and AirDNA near 56% for Louisville, and individual properties vary a lot with location, pricing, and how open the calendar is.

Why is Derby weekend its own line?

One Derby weekend can be a large share of a year. Treating it as its own line keeps a single great weekend from hiding a weak rest of the year.

Is a midterm rental better than an Airbnb?

It depends on the property and on you. Short-term rentals can earn more per night but come with registration, possible conditional use permits, and constant turnover. Midterms trade some income for steadier stays and fewer rules. Run both on the same property and compare.

Is this tax, legal, or lending advice?

No. It is an estimate for education. Winner Realty is a real estate brokerage, not a CPA firm or a lender. Talk to a CPA before you act on tax questions.