I have created a free Rental Property Analyzer Spreadsheet Template for anyone to use and edit in Google Sheets. The template comes pre-loaded with the sample property analysis from my last post. Check out that post for additional background on where the numbers come from and basic guidance on how to make your own estimates.
A Note on Purpose
I built this Rental Property Analyzer for a specific purpose. You can read about what I was looking for in my first investment property and why in this post. In short, I’m looking for a nicer single family property that’s pretty much ready to rent for cash flow potential. Because I’m looking for cash flow, this spreadsheet template leaves out any calculation of potential appreciation. Its purpose is to compare apples to apples returns across similar properties.
How to Use the Rental Property Analyzer
Once opened and saved, the template is yours to use as you please. The blue highlighted cells are those that require input. Some will stay consistent for similar properties or investors (ie, 10% of estimated rent for management fee), many will require customization for each property you look at.
The yellow highlighted cells are calculations. They were built to be automated, so should not need much editing. If something gets changed or out of whack as you use the analyzer, just come back and grab the template again to start over.
Opening the Rental Property Analyzer
You will need to have an active Google account, which will allow you to use Google’s online tools such as Google Docs, Google Sheets, and Google Slides. It also gives you a Gmail account and quite a bit of free online storage. For a preview of Google Sheets and what it can do, click here.
Once you have an account set up, simply click this link. The link will take you to a screen previewing the spreadsheet template if you are already signed in to a Google account. There is a button in the top right that says “Use Template.” Go ahead and click it, and the template is now yours to edit as you please!
Getting Results
As you use the Rental Property Analyzer for yourself, please let me know if you have any questions or suggestions. I am happy to make edits to the template if there is an error or if enough people want other features.
