Optical interferometry is a well-known valuable tool for estimating an unknown parameter. However, the fluctuation of vacuum limits the sensitivity of optical interferometry. In order to obtain better sensitivity, the performance of the optical interferometry, such as signal to noise ratio and the minimum detectable value, need to be analyzed. However, in the undergraduate laboratory, almost of the experiments of the optical interferometry focus on interference principle but lack the performance analysis. In this paper, a Mach-Zehnder interferometer is employed for the evaluating the performance of optical interferometry in an undergraduate laboratory. The evaluation method is illustrated theoretically and experimentally. Based on experiment, we can extend classical optical experiment to quantum optics experiment, which appropriate for advanced undergraduate students with former experience in quantum optics.