We’ve built this detailed spreadsheet to help real estate investors evaluate property performance over a ten-year period, with both monthly and annual views.
Designed for business owners adding real estate to their portfolio, this spreadsheet models up to ten units with side-by-side analysis of projected vs. actual performance. You’ll be able to monitor rental income, expenses, and long-term return metrics without getting buried in formulas.
Who This Is For
- Real estate investors with one or more rental properties
- Business owners looking to add real estate to their portfolio
- Anyone evaluating whether a rental property will produce strong returns over time
- Users needing to present clean financials to banks, partners, or investors
Why You’d Use It
A spreadsheet is only useful if it helps you make better decisions. This tool tracks both expected and actual returns so you can see whether your investment is on track—and what’s driving the results.
- Compare actual returns against your pro forma
- Track rental income, expenses, financing, and capital improvements
- Assess cash flow, profitability, and ROI at a unit or portfolio level
- Visualize performance over time with built-in dashboards and reporting views
What’s Inside
- Property Details – Basic input for each property and unit
- Purchase Details – Acquisition costs, financing structure, and upfront costs
- Expected Pro Forma – Monthly rent, operating expenses, projected NOI and cash flow
- Amortization – Loan amortization schedules for debt modeling
- Capex – Planned capital expenditures across your holding period
- Actual Pro Forma – Real-world performance tracking against your projections
- Annual Report – Year-over-year view of income, expenses, and returns
- Financial Dashboard – Key metrics and charts for profitability and value trends
- Rental Dashboard – Occupancy, rent collected, and rent growth
- Analysis – GRM, Cap Rate, ROI, and other performance ratios
If you need help completing and building the strategy behind this tool, reach out here.
Terms to Know
- Rental Upside: The potential increase in rental income based on market conditions or property improvements.
- Gross Rent Multiplier (GRM): The number of years it takes for a property to pay for itself in gross rent. Lower GRM = better opportunity.
- Average Regional GRM: Compares a property’s GRM against regional averages. Useful for spotting overpriced or undervalued markets.
- Net Operating Income (NOI): Income after operating expenses, excluding financing costs. A key profitability metric.
- Capitalization Rate (Cap Rate): Shows annual return based on NOI. Helps compare different investment properties.
- Cash-on-Cash Return: Measures return based on the actual cash invested, not total value.
- Capital Expenditures (CAPEX): Major property improvements—roofs, HVAC, remodels—that extend useful life and affect long-term ROI.
Download the Real Estate Pro Forma (Detailed) Excel spreadsheet.
Real Estate Pro Forma Detailed – Clarity by Bennett
This tool is best used in tandem with a deeper financial strategy. If you need help building that structure, reach out to our team.