Free spreadsheet template · Excel & Google Sheets
Free Rental Property Analysis Spreadsheet
Most rental deals look fine until you put every cost on paper. A rental property analysis spreadsheet forces you to do exactly that: purchase price, closing costs, financing, rent, vacancy, repairs, capital expenditures, management, taxes and insurance — then it tells you whether the property actually pays you each month.
Screenshots show the full Rental Property Investment Analyzer. The free lite version uses the same layout and formulas, with fewer rows and no charts.
What’s in the free template
This free template is the single-property analyzer from our full Rental Property Investment Analyzer. It is not a teaser with locked cells: enter a listing and you get a real mortgage payment, net operating income, monthly cash flow, cap rate, cash-on-cash return, DSCR, gross rent multiplier, the 1% rule and break-even occupancy, plus an automatic deal verdict.
The download contains these tabs:
- Instructions
- Analyzer
Yellow cells are your inputs and blue cells are protected formulas, so nothing breaks while you type. Example data is included so you can see the results immediately — replace it with your own numbers when you are ready.
How to use this rental property analysis spreadsheet
Enter the purchase and financing
Type the price, down payment, interest rate, loan term and closing costs into the yellow cells. The loan amount and monthly principal-and-interest payment calculate instantly.
Add realistic income
Enter the monthly rent you can verify from comparable listings, plus any other income such as parking or laundry. Set a vacancy allowance — 5–8% is common for long-term rentals.
List every operating expense
Property tax, insurance, HOA, repairs, capital expenditures (capex), property management and utilities you pay. Underestimating capex is the most common mistake; budget 5–10% of rent.
Read the results panel
Check monthly cash flow first, then cash-on-cash return (what your invested cash earns) and DSCR (lenders typically want 1.20–1.25 or higher). The verdict cell summarises whether the deal meets common investor rules of thumb.
Stress-test the deal
Raise the interest rate by 1%, cut rent by 5% and add a month of vacancy. A deal that still cash-flows under pressure is a far safer purchase.
Tips for better results
- Cap rate ignores financing, so use it to compare properties and markets; cash-on-cash shows the return on your actual money.
- The 1% rule (monthly rent ≥ 1% of price) is a quick screen, not a decision. Plenty of good deals in expensive markets fail it, and plenty of bad deals pass it.
- Save one copy of the workbook per property so you keep a record of the assumptions you used.
Opening the file in Excel or Google Sheets
Microsoft Excel: open the downloaded .xlsx file directly — Excel 2010 or later on Windows or Mac works. If you see a “Protected View” bar, click Enable Editing.
Google Sheets: go to Google Drive, choose New → File upload, then open the file and pick File → Save as Google Sheets so you can edit and share it. LibreOffice / Numbers: open the file as normal. No macros, add-ins or internet connection are needed.
Free lite vs full version
When a deal passes the first screen, the full version shows where it goes next: a 30-year projection of rent growth, expense inflation, appreciation and loan paydown, with equity, net sale proceeds and total return each year, plus charts and a side-by-side comparison of up to five properties.
| Feature | Free lite | Full version · $14 |
|---|---|---|
| Cash flow, NOI, cap rate, cash-on-cash, DSCR | ✓ | ✓ |
| 1% rule, GRM & break-even occupancy | ✓ | ✓ |
| Automatic buy / pass deal verdict | ✓ | ✓ |
| 30-year projection (equity, sale proceeds, total return) | — | ✓ |
| Projection charts | — | ✓ |
| Compare up to 5 properties side by side | — | ✓ |
| Quick-start PDF guide | — | ✓ |
| Price | Free | $14 one-time |
Instant download. Secure checkout by Lemon Squeezy. Works in Excel, Google Sheets & LibreOffice.
All 8 templates · one download
CalcHub Complete Bundle (All 8 Templates)
$39 $104 one-time · instant download
Every template in one download: budget & debt payoff, savings & net worth, freelancer, small-business bookkeeping, rental property analyzer, short-term rental host, dividend portfolio and wedding budget. Includes 8 quick-start PDF guides and all future updates.
Get the bundle — $39Frequently asked questions
Is this rental property spreadsheet really free?
Yes. Download the .xlsx with no sign-up and no email. It is a fully working single-property analyzer; the paid version adds the long-term projection, charts and property comparison.
Does it work in Google Sheets?
Yes. Upload the file to Google Drive and choose Open with Google Sheets, or open it directly in Microsoft Excel or LibreOffice. No macros or add-ins are used.
What is a good cash-on-cash return?
Many investors look for 8–12% on long-term rentals, but the right target depends on your market, risk tolerance and how much appreciation you expect.