Rental Property Analysis Spreadsheet
Check a property before you buy: cash flow, cap rate, cash-on-cash return and the numbers behind them.
What's inside
One workbook, in Excel + Google Sheets. Four tabs:
- Start here: four steps and what the colors mean.
- Analysis: three properties side by side. Type in price, loan, rent and costs; get the first-year mortgage payment, NOI, cash flow, cap rate, cash-on-cash return, debt service coverage, gross rent multiplier, the 1% rule and break-even occupancy.
- Projection: pick one property and see every year until you sell, up to 30 years: rent, expenses, cash flow, loan balance, value, equity, sale proceeds and IRR.
- Sample check: a sample house with the answers worked out separately. Every row shows ✓ when the formulas are right.
Each result has a one-line note saying what it means and how it is worked out.
Who it's for
A good fit if you
- Are looking at a rental and want to know if the numbers work before you make an offer.
- Want to compare two or three listings on the same terms.
- Like to change one number, such as rent or the interest rate, and see what happens.
Not for you if you
- Need a lender-grade underwriting model or commercial property analysis.
- Want a recommendation on what to buy. The file shows the math; the decision is yours.
How it works
- Open the file. Property 1 holds a sample house.
- Check the sample. Open Sample check and see every row show ✓.
- Type in a real listing. Use Property 2 or 3, or type over the sample. Results and the year-by-year projection update at once.
Questions
Does it work in Excel and Google Sheets?
Yes. You get an Excel file (.xlsx) and a link that makes your own copy in Google Sheets.
Which numbers do I need before I start?
The asking price, an estimate of closing costs and repairs, your down payment and interest rate, the expected rent, and yearly property tax and insurance. Everything else has a sensible starting value you can change.
How is cash flow worked out?
Collected rent (gross rent minus vacancy), minus operating expenses, minus the mortgage payment. Maintenance, management and the reserve for big repairs are a percentage of collected rent that you set.
Does it include taxes on the profit?
No. Income tax and tax on the sale depend on your country and your situation, so they are left out. The results are before income tax.
Can I analyze more than three properties?
Three are shown at a time. Save a copy of the file for each group of three, or type a new listing over one you have ruled out.
Can I get a refund?
Yes. If the template does not work for you, email [email protected] within 30 days of buying and you get your money back. See the refund policy.
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Disclaimer. For general information only. Not tax, legal or financial advice. Check the rules for your country or ask a qualified adviser. Read the full disclaimer.