A rental property ROI calculator for Excel and Google Sheets: type the price, loan and rent, and see cash flow, cash-on-cash and cap rate before you make an offer.
Get it on Payhip →In short: This real estate investment spreadsheet screens one rental at a time. Enter price, down payment, rate, term, closing and rehab costs, rent, vacancy and expenses, and it returns the mortgage payment, monthly and annual cash flow, total cash invested, cash-on-cash return, cap rate and the 1% rule check. The shipped example cash-flows $57.52 a month.
20-second demo — real numbers, with audio 🔊
Works in Microsoft Excel and in Google Sheets (File, Open, Upload). Inputs are the yellow cells; everything else is a live formula you can click and read.
The workbook ships with a $200,000 example. These are its own results:
| Line | Result |
|---|---|
| Loan: $200,000 less 20% down at 7% for 30 years | $160,000 loan, $1,064.48 a month P&I |
| Rent $1,800 less 5% vacancy | $1,710.00 |
| Tax $2,400/yr + insurance $1,200/yr + maintenance 8% + management 8% | $588.00 a month |
| Monthly cash flow (1,710 - 588 - 1,064.48) | $57.52 |
| Annual cash flow | $690.19 |
| Cash invested: $40,000 down + $6,000 closing + $10,000 rehab | $56,000 |
| Cash-on-cash return (690.19 / 56,000) | 1.23% |
| Cap rate ((1,710 - 588) x 12 / 200,000) | 6.73% |
| 1% rule (1,800 / 200,000) | 0.90% |
This is why one ratio is not enough. The property earns a 6.73% cap rate before financing, but at 7% interest the loan eats almost all of it: $57.52 a month and a 1.23% cash-on-cash return on $56,000 of your money, and it misses the 1% rule. On the default targets the sheet colours the cash flow amber, the cash-on-cash return red and the cap rate green, so the problem is visible at a glance. Change one input, say the price or the rent, and every result and colour updates, so you can find the offer price at which the deal starts to work before you make it.
Buy-and-hold investors screening listings before an offer. It analyses one deal per file copy and is not a bookkeeping or rent-roll tracker. For the formulas behind each result, see the rental property analysis spreadsheet guide, the cash-on-cash return guide and the cap rate guide.
An honest comparison. A free template is the right choice if you only need a form to fill in, and software is the right choice if you need scheduling, invoicing or bank feeds. This file is for getting the number right.
| This spreadsheet | Free blank template | Subscription analysis software | |
|---|---|---|---|
| Calculates cash flow, cash-on-cash and cap rate | Yes, live formulas | Only if you build them | Yes |
| Green / amber / red against your own targets | Yes, targets you set | Only if you build it | Varies |
| Shows every formula | Yes, every cell | Yes, if you built it | Often hidden |
| Comparable rents and market data | No, you enter the rent | No | Often included |
| Where it runs | Your own Excel or Google Sheets file | A spreadsheet | The vendor's app and account |
| Cost | $14.99 once | Free | Monthly subscription |
Get the rental property deal analyzer on Payhip, $14.99 once
Get the free 50/30/20 Budget Starter and see exactly how the live formulas work — no risk, no card.
Compare the monthly rent against ALL costs — mortgage, taxes, insurance, vacancy, repairs and management — to find monthly cash flow, then check cash-on-cash return and cap rate against your down payment. The Rental Deal Analyzer calculates all of these the moment you type in the price, rent and expenses.
Many investors look for 8%+ cash-on-cash, but it depends on your market and risk. The analyzer shows your exact cash-on-cash and cap rate so you can screen a deal in under a minute and walk away from the bad ones.
Yes — Google Sheets and Excel. Open the file and enter your numbers.
Yes, $14.99 one-time, no subscription. Included in the $49 bundle.
Annual cash flow after the mortgage divided by the total cash you put in (down payment, closing costs and rehab). In the sheet's example, $690.19 a year on $56,000 invested is 1.23%.
A quick screen: monthly rent should be at least 1% of the purchase price. The analyzer calculates it as rent divided by price; the shipped example is $1,800 on $200,000, or 0.9%, just under the line. It is a screen, not a verdict, so check cash flow too.
For a financed rental, cash-on-cash return is the usual measure of return on the money you put in, and cap rate measures the property before financing. The analyzer shows both side by side, which is how you see a 6.73% cap rate turn into a 1.23% cash-on-cash return once a 7% loan is in.
Yes. You set a green line and a red line for monthly cash flow, cash-on-cash return and cap rate, and each result turns green, amber or red, with a Rating column that says the same in words. On the default example targets the $57.52 cash flow is amber, the 1.23% cash-on-cash is red and the 6.73% cap rate is green.
