What This Template Does
Most new landlords buy their first rental property with no real financial analysis. They know the rent covers the mortgage, but they don't know their actual return on investment.
This spreadsheet gives you four essential metrics in under 30 seconds: monthly cash flow, cap rate, cash-on-cash return, and net operating income. Enter your numbers once; the spreadsheet does the rest.
What's Included
- Monthly cash flow calculator (rent − all expenses − mortgage)
- Net Operating Income (NOI) calculation
- Cap rate calculator (NOI ÷ purchase price)
- Cash-on-cash return calculator (annual cash flow ÷ cash invested)
- Annual operating expense breakdown by category
- Vacancy rate adjustment (default 8%, adjustable)
- Property management cost input (if you outsource)
- One-page deal summary — print and take to your banker
- Side-by-side comparison of 3 properties at once
The 4 Metrics Every Landlord Must Know
- Monthly Cash Flow — Money in your pocket after all expenses and mortgage. Positive = good. Negative = you need to fix the deal or pass.
- Cap Rate — NOI ÷ Purchase Price. Compares properties regardless of financing. 6–10% is typical for residential rentals.
- Cash-on-Cash Return — Annual pre-tax cash ÷ cash invested. Your actual return on the cash you put in the deal. Target 8–12%+.
- NOI — Gross rent − operating expenses (before mortgage). The raw income the property generates.
Digital Download
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You receive:
✓ Rental-ROI-Template.xlsx
✓ Works in Excel, Google Sheets, LibreOffice
✓ Free updates for life
Example: $180k Property, 20% Down
$247
Monthly Cash Flow
7.2%
Cap Rate
14.8%
Cash-on-Cash Return
$10,800
Annual NOI
* $36k purchase price, $1,450/month rent, $720/month PITIA, $350/month operating expenses
This Template vs. Free Online ROI Calculators
| Feature | This Template | Free Online Calculator |
|---|
| Monthly cash flow | ✅ | ✅ |
| Cap rate + cash-on-cash | ✅ | ⚠️ 1 metric only |
| NOI calculation | ✅ | ❌ |
| Side-by-side 3-property comparison | ✅ | ❌ |
| Vacancy adjustment | ✅ | ⚠️ Sometimes |
| Printable one-page summary | ✅ | ❌ |
| Works offline — no subscription | ✅ | ❌ |
What Landlords Say
Trusted by thousands of landlords
"I was buying properties based on 'it covers the mortgage.' This spreadsheet showed me I was actually losing $100/month after accounting for repairs and vacancy. Made me a much smarter buyer."
— Brian K., new landlord, Indianapolis IN
"The 3-property comparison is a game changer. I can compare 3 deals side by side and see instantly which one has the best return. I use this every time I'm looking at multiple properties."
— Sarah M., 5-unit portfolio, Memphis TN
"I showed this to my banker when I applied for a rental property loan. He said it was the most organized deal analysis he'd seen from a retail borrower. Got approved faster."
— David L., landlord + real estate agent, Charlotte NC
"I bought this for my son who's looking at his first rental. He ran 4 properties through it over a weekend, picked the best one, and is closing next month. Worth every penny."
— Tom R., property owner, Columbus OH
FAQ
Common questions
What's a good cash-on-cash return for a rental property?
Most investors target 8–12% cash-on-cash return. In hot markets where prices are high relative to rents, you might see 4–6%. In higher-yield markets (Midwest, Southeast), 10–18% is achievable. Use this template to compare actual numbers rather than guessing.
What operating expenses should I include?
Standard operating expenses: property taxes, insurance, property management (if you pay for it), HOA fees, repairs/maintenance (budget 1% of property value/year), capex reserve (5–10% of rent), vacancy (5–10% of rent). The template has all these fields built in.
Does this include financing calculations?
Yes. Enter your loan amount, interest rate, and term, and it calculates your monthly PITI (principal, interest, taxes, insurance). It separates the mortgage payment from operating expenses so you can see true cash flow.
Can I use this for house hacking (live-in rental)?
Yes. House hacking reduces your cost basis significantly (you live for free while tenants cover most of your mortgage). Just enter the market rent for your unit as if you were charging it — that shows you the true economic benefit of the house hack.
Do I need Excel?
No. Works in Google Sheets and Apple Numbers. All formulas are pre-built — just enter your numbers.
Is this a subscription?
No. Pay once, download once, use forever — including all future updates at no extra charge.
🔗 Recommended Tools for Landlords
After you analyze deals, you'll need tools to manage tenants, screen applicants, and track income. These are the programs real estate investors actually use:
⚠️ Affiliate links — we may earn a commission at no extra cost to you. Our recommendations are based on real landlord workflows.
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Diversify your portfolio with crowdfunded real estate investments. Browse deals, earn passive income, and build wealth without landlord responsibilities:
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Know your numbers before you buy
Professional ROI calculator · one-time $14 · instant download
$14
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Free: Rental Property Deal Analyzer
Get a free rental property deal analyzer spreadsheet — plug in any property's rent, expenses, and financing to see your true ROI.
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