How to Analyze a Rental Property in 5 Minutes (Free Google Sheets Template)

If you're a new landlord or real estate investor, you've probably spent hours
staring at napkin math trying to figure out if a property actually cash-flows.
I've been there. After analyzing 200+ deals, I built a simple Google Sheets
template that does the math for you in under 60 seconds.

The 4 Metrics That Matter

1. Cash Flow — Income minus all expenses (mortgage, taxes, insurance, vacancy, management, maintenance, CapEx)
2. Cap Rate — Net Operating Income / Purchase Price. Industry average: 6-10%
3. Cash-on-Cash Return — Annual cash flow divided by total cash invested. 8-12% is good
4. Total ROI (5-year) — Appreciation + principal paydown + cash flow

Why Spreadsheets Beat Apps

Most rental property apps lock you into a subscription or limit how many deals
you can input. A spreadsheet gives you:

• Full control over every assumption
• Unlimited property comparisons
• Ability to share with your realtor or partner
• Zero monthly fees

The Free Template

I put together a Rental Property Cash Flow Calculator in Google Sheets.
It has:

• Pre-built formulas for all 4 key metrics
• Sample data from 5 real Austin, TX deals
• Clean input sheet with yellow cells (no hunting for formulas)
• Automatic monthly/annual cash flow projection
• Space to compare up to 5 deals at once

Get the free template on Gumroad:
(free download)

How to Use It in 3 Steps

1. Enter the property price, down payment, interest rate, and monthly rent in the yellow cells
2. Add your expense estimates (property taxes, insurance, HOA, management %, vacancy %)
3. Instantly see your monthly cash flow, cap rate, cash-on-cash return, and debt coverage ratio

What the Paid Version Adds

If you find the free version useful and want more, the paid Rental Property Cash Flow
Analyzer ($27) includes 50 real-world deals from 10 U.S. markets plus duplex/triplex/quad
analysis and a 10-year projection model. But the free template is fully functional
for evaluating single-family rentals.

Ready to stop guessing? Download the free tool and analyze your next deal in 5 minutes.

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P.S. This is your P&L in a spreadsheet, not a paid app. No subscriptions, no limits,
just formulas that work.