The effect of zinc substitution on the local electronic structure of several cuprates is investigated using first-principles cluster calculations. Clusters comprising 5, 9, and 13 copper atoms in the cuprate plane of La2CuO4, YBa2Cu3O7, and YBa2Cu4O8 are used. Spin polarized calculations with different multiplicities in the framework of density functional theory enable a detailed study of the changes in the charge and spin density distribution induced by Zn substitution. Furthermore, doping with charge carriers in the above materials is simulated and the resulting changes in the charge distribution are compared to the changes induced by Zn impurities. These differences are then discussed in terms of a phenomenological model related to properties expected from the generic phase diagram. The effects of zinc substitution are rather local and as expected the absolute values of the Mulliken charges at both nearest and next nearest neighbor oxygens to Zn are larger than in the unsubstituted clusters. The calculated electric field gradient at Cu sites that are nearest neighbor to Zn is found to be somewhat larger than in the unsubstituted cluster whereas that of next nearest neighbors is about 5 % smaller. We conclude that the satellite peak in the Cu NQR spectrum occurring upon Zn substitution in YBa2Cu3O7 and YBa2Cu4O8 has its origin at Cu that are next nearest neighbors to Zn.