Short answer: This free spreadsheet turns a rental's price, loan, rent and expenses into monthly cash flow, cap rate, cash-on-cash return, DSCR, break-even rent and a Good, Okay or Pass verdict. Type your numbers in the blue cells and everything else calculates.
Free rental property analysis spreadsheet
One sheet, live formulas, no macros. Works in Excel, Google Sheets, Numbers and LibreOffice.
No email needed. Updated October 24, 2026.
What's inside
- 12 inputs: price, down payment, rate, term, closing costs, rent, property tax, insurance, HOA, and vacancy, maintenance and management as a percent of rent.
- 13 results: loan, principal and interest, operating expenses, NOI (monthly and yearly), cash flow (monthly and yearly), cash invested, cap rate, cash-on-cash, DSCR, rent-to-price and break-even rent.
- The FirstDoor score: the same 0 to 8 point rubric as our calculator, with the verdict spelled out.
- A "How it works" tab with every formula written out, and a link that opens your exact deal in FirstDoor.
Worked example: a typical US home
The sheet ships with a real example: the US median home value ($360,600), median 3-bedroom rent ($1,677) and median property tax ($3,211 a year) from the Census Bureau's 2024 American Community Survey, financed at 7.32% (Freddie Mac's 30-year average on 2026-10-22) with 20% down. Insurance is set to 0.5% of the price and closing costs to 3%, both placeholders to replace with real quotes.
| Purchase price | $360,600 |
|---|---|
| Monthly rent | $1,677 |
| Down payment | 20% |
| Interest rate | 7.32% |
| Mortgage payment | $1,982/mo |
| NOI | $957/mo |
| Cash flow | −$1,024/mo |
| Cap rate | 3.19% |
| Cash-on-cash return | -14.82% |
| DSCR | 0.48 |
| Rent-to-price | 0.47% |
| Break-even rent | $2,926/mo |
| Score | 0 of 8: Pass |
At today's rates the typical home does not cash-flow with 20% down: rent would need to be about $2,926 a month just to break even. That's why the sheet puts break-even rent next to your asking rent. See the best cities and best states guides for markets where the math is closer.
How to use it
- Download the file and open it in Excel or Numbers, or import it into Google Sheets (File, then Import).
- Replace the blue example cells with your listing: real rent comps, the actual tax bill and an insurance quote.
- Read the verdict, then check cash flow and break-even rent. If cash flow is negative, the score tells you which checks failed.
- Stress-test it: lower the rent 10%, add a point to the rate, raise vacancy. Or click the link in the sheet to open the deal in FirstDoor.
Frequently asked questions
Is the rental property spreadsheet really free?
Yes. Download the .xlsx with no email or signup. You can use, copy and share it.
Does it work in Google Sheets?
Yes. In Google Sheets choose File, then Import, and upload the file (or open it from Google Drive). It also opens in Microsoft Excel, Apple Numbers and LibreOffice. The formulas use only standard functions such as PMT, IF and HYPERLINK.
What does the spreadsheet calculate?
Loan amount, monthly principal and interest, operating expenses, net operating income, monthly and yearly cash flow, cash invested, cap rate, cash-on-cash return, DSCR, the 1% rule, break-even rent, and FirstDoor's 0 to 8 point score with a Good, Okay or Pass verdict.
Will I get the same answer as the FirstDoor calculator?
Yes. The spreadsheet uses the same formulas and scoring thresholds as the free deal score on usefirstdoor.com, which are all published on the methodology page. A link at the bottom of the sheet opens your exact deal in FirstDoor.
Why use FirstDoor Pro if the spreadsheet is free?
You don't have to. Pro ($9 a month or $79 a year) adds what-if stress tests, a 5-year equity and return projection, unlimited saved deals compared side by side, and a lender-ready PDF report, so you don't rebuild those by hand.
Sources
Educational tool, not financial advice. Example figures are national medians, not a listing.