Getly
A good rental property analysis spreadsheet answers one question before you make an offer: does this property pay for itself, and by how much? To do that it has to compute net operating income, cap rate, monthly cash flow after the mortgage, cash-on-cash return and debt coverage, from inputs you can see and change. This guide lists the numbers a deal analyzer must produce, shows the formulas on one worked example, and gives you a checklist for the moment you are about to pay for a template.
What the shelf looks like today
We measured the Getly spreadsheet, Excel template and business finance shelves on November 4, 2026. Together they hold 530 listings. The part that is about rentals, the 12 listings whose name contains "rental", "property", "landlord" or "airbnb", is a small and slightly pricier corner of it:
| Rental and property listings | Whole shelf | |
|---|---|---|
| Listings | 12 | 530 |
| Median price | $16 | $12 |
| Middle half of prices | $10.82 to $20.50 | $7.60 to $15 |
| Free listings | none | 2.5% |
| Commercial licence | 41.7% | 48.9% |
| Personal licence | 41.7% | 24.7% |
| No licence stated | 16.7% | 21.5% |
Every rental listing in that group ships an XLSX file inside a ZIP archive. So the format question is mostly settled: you get an Excel workbook, which also opens in Google Sheets and LibreOffice. The questions that remain are what the workbook calculates and whether you are allowed to use it the way you plan to.
The numbers a rental analysis sheet must compute
These are the outputs that matter. If a template skips one of them, you will end up computing it on paper.
- Gross scheduled rent: monthly rent times 12, plus other income such as parking or laundry.
- Vacancy and credit loss: a percentage of gross rent you will not collect. You set it; the sheet applies it.
- Effective gross income: gross rent minus vacancy.
- Operating expenses: property tax, insurance, repairs and maintenance, property management, utilities you pay, HOA or service charges, and a capital expenditure reserve for roofs, boilers and appliances. Not the mortgage.
- Net operating income (NOI): effective gross income minus operating expenses.
- Cap rate: NOI divided by purchase price. It describes the property, independent of how you finance it.
- Mortgage payment: the standard amortisation formula, PMT in Excel, from loan amount, rate and term.
- Annual cash flow: NOI minus twelve mortgage payments.
- Total cash invested: down payment plus closing costs plus repairs before the first tenant.
- Cash-on-cash return: annual cash flow divided by total cash invested.
- DSCR (debt service coverage ratio): NOI divided by annual debt service. Below 1.0 the rent does not cover the loan.
Better templates add an amortisation schedule (interest and principal per year), equity build-up, appreciation scenarios and an internal rate of return over a holding period. Those are useful, but only after the basics above are right.
A worked example
The figures below are invented round numbers to show the formulas. They are not market data and not a target for any city.
| Input | Value |
|---|---|
| Purchase price | $200,000 |
| Down payment (25%) | $50,000 |
| Closing costs | $6,000 |
| Repairs before renting | $9,000 |
| Loan | $150,000, 6%, 30 years |
| Rent | $1,800 a month |
| Vacancy | 5% |
| Step | Formula | Result |
|---|---|---|
| Gross scheduled rent | 1,800 x 12 | $21,600 |
| Vacancy | 21,600 x 5% | $1,080 |
| Effective gross income | 21,600 - 1,080 | $20,520 |
| Operating expenses | tax 2,400 + insurance 1,200 + maintenance 1,300 + management 1,640 + capex reserve 1,000 | $7,540 |
| NOI | 20,520 - 7,540 | $12,980 |
| Cap rate | 12,980 / 200,000 | 6.49% |
| Mortgage payment | PMT(6%/12, 360, 150,000) | $899.33 a month |
| Annual debt service | 899.33 x 12 | $10,792 |
| Annual cash flow | 12,980 - 10,792 | $2,188 (about $182 a month) |
| Total cash invested | 50,000 + 6,000 + 9,000 | $65,000 |
| Cash-on-cash return | 2,188 / 65,000 | 3.37% |
| DSCR | 12,980 / 10,792 | 1.20 |
Now change one input. At 7% instead of 6%, the payment becomes about $998 a month, debt service about $11,975 a year, and cash flow falls to about $1,005 a year. The cap rate does not move at all, because it ignores financing. This is why a sheet needs both numbers, and why you want to change the rate in one cell and see everything update.
What to check before you buy a template
- Formulas you can read. Click an output cell. You should see a formula, not a typed number. Locked sheets are fine for layout, but you need to be able to audit the math.
- Inputs separated from outputs. One input area, coloured or labelled, and results that only read from it. If you have to type the price in three places, you will forget one.
- Every expense line, including capex. A sheet with tax, insurance and "maintenance" but no reserve for big replacements flatters every deal.
- Sensitivity. A small table or scenario block for rent, interest rate and vacancy. Deals rarely fail on the expected case.
- Several properties side by side. If you are comparing listings, a comparison tab saves you copying the workbook five times.
- Short-term rental fields. For Airbnb-style units you need nightly rate, occupancy, cleaning fees, platform fees and furnishing costs. A long-term sheet with monthly rent will not model that.
- Excel and Google Sheets. PMT, IRR and basic lookups work in both. Macros, Power Query and some newer functions do not survive the move to Google Sheets. If you work in Sheets, check the description says so.
- Licence. A personal licence covers analysing your own deals. If you are an agent or adviser who shares the output with clients, look for a commercial licence, or ask the seller before you pay. Among the rental listings, 16.7% state no licence at all.
| Check | Where to look | Pass |
|---|---|---|
| Outputs are formulas | Preview images, description | Formula bar shown or "fully editable formulas" stated |
| Mortgage uses amortisation | Description, screenshots | Loan term and rate as inputs, PMT or schedule tab |
| Capex reserve | Expense list in screenshots | A separate line, not folded into repairs |
| Cash-on-cash and DSCR | Output panel | Both shown, based on total cash invested |
| Your spreadsheet app | File list, description | XLSX for Excel, a Sheets note if you use Google |
| Licence fits your use | Product page licence field | Personal for your own deals, commercial for client work |
Red flags
- Hard-coded results. A cash flow cell that does not change when you change the rent is a picture of a spreadsheet.
- Interest-only math. Loan rate times balance is not a mortgage payment. Without amortisation, cash flow and equity are both wrong.
- Cap rate computed after the mortgage. That is a different number with the wrong name.
- No vacancy line. Twelve months of rent every year is the most common optimistic error.
- Screenshots that show tabs the file does not have. Read the file list and the description together.
A template is a calculator, not advice. Taxes, depreciation and local rules differ by country, and a sheet cannot tell you which apply to you.
Where to browse and how paying works
Rental and deal analysis workbooks sit across three shelves: Spreadsheets & Calculators, Excel Templates and Business & Finance. Search inside them for "rental", "landlord" or "property" to see the group we measured.
You can pay by card, with Apple Pay or Google Pay where your device supports it, or with USDT/USDC stablecoins. PayPal is not accepted. You do not need an account to buy. Card orders deliver the files right after payment, and the receipt email carries a download link for every file. Purchases have a 30-day refund window, so if the workbook does not do what its description says, request a refund from your order.
