rental property analysis spreadsheet.
A real template with real formulas in the cells. Free to download, no email and no signup — an investment property calculator you keep as a file. Type in the price, the rent and the expenses; the sheet computes NOI, cap rate, monthly cash flow, cash-on-cash return, DSCR and the 1% and 70% checks the second it opens.
verleon-rental-analysis-template.csv
It opens in Excel, Numbers or Google Sheets. Output cells are real formulas pointing at the input cells, so the file arrives already worked through — a $120,000 purchase, $25,000 of rehab, $1,550 rent — showing about $953 monthly NOI, a 9.5% cap rate, 7.7% yield on cost, $314 of monthly cash flow, 7.2% cash-on-cash and a 1.70 DSCR. Overwrite the inputs and every number moves.
Five steps.
Then read the answer.
Download.
Grab the CSV below. Double-click it in Excel or Numbers, or use File then Import in Google Sheets.
Name the deal.
Fill the property name and address at the top. Duplicate the file once per property you are underwriting.
Enter the buy.
Purchase price, rehab, closing costs, ARV, down payment, rate and term. Percentages go in as decimals.
Enter income and costs.
Gross rent, other income, vacancy, taxes, insurance, HOA, and your management, maintenance and CapEx percentages.
Read the outputs.
Nothing else to do. Every OUTPUT row recalculates itself. Change one input and all of them move.
What the cells
are actually doing.
The income side.
Gross rent plus other income gives scheduled income. Vacancy comes off to give effective gross income — the number every expense percentage is charged against, so reserves scale with what you collect.
The expense side.
Annual taxes and insurance are divided by twelve, HOA is already monthly, and management, maintenance and CapEx are percentages of collected income. Their total comes off effective income to produce NOI.
The verdict rows.
NOI over the purchase price is the cap rate. A separate row divides NOI by all-in cost instead — that is yield on cost, the number that matters once rehab is in the deal. NOI minus principal and interest is cash flow, and over cash invested it becomes cash-on-cash.
DSCR prints twice, on purpose, because the word means two things. One row is gross rent ÷ PITIA — principal, interest, taxes, insurance and HOA — which is what a residential DSCR lender quotes and what thresholds like 1.20 and 1.25 refer to. The other is NOI ÷ principal and interest, the commercial version. Both rows are labeled in the sheet so you never hand a lender the wrong one. Cap rate is likewise labeled apart from yield on cost — an appraiser means NOI over price, and only that.
Where a spreadsheet
stops working.
One property at a time.
A file analyzes the deal in front of it. Screening thirty listings means thirty copies, thirty rounds of typing and thirty chances to fat-finger a tax figure.
No comps, no live rents.
Every input is a guess until something checks it. The template cannot pull nearby sales, an ARV, a market rent or the Section 8 fair market rent for that ZIP. You type those in and hope they were right.
No portfolio view.
Nothing ranks your files against each other or remembers which seller you already called. That is what the platform does: it underwrites every active listing nationwide, scores it, and keeps the ones worth a call.
Prefer not to download? The rental property calculator uses the same definitions in the browser — NOI after vacancy, cap rate on price, rent ÷ PITIA for DSCR — with one deliberate difference: it charges management, maintenance and CapEx against gross rent where the sheet charges them against collected rent, and it fixes amortization at thirty years. On identical inputs its cash flow lands a few dollars a month below the sheet. The cash-on-cash calculator isolates the return line. For the reasoning behind the inputs, read how to analyze a rental property and rental property operating expenses.
Before you download.
One file per deal,
or every deal at once.
Verleon AI runs this same underwriting on active listings across all 50 states — NOI, cap rate, cash flow, cash-on-cash, DSCR and both screens — plus comps and ARV, Section 8 fair market rent, skip tracing and an offer generator. Keep the spreadsheet for the deal you love; use the platform to find it.