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Real estate deal analyzer spreadsheets are what you use when you’re tired of “this deal feels good” math.
Because feelings don’t pay mortgages, and vibes don’t cover repairs.
If you buy rentals, flip houses, wholesale, or underwrite multifamily, you need a simple way to plug in numbers and see the truth.
Not the “optimistic truth” either—the boring, bank-account truth.
Spreadsheets help because they force you to include the annoying stuff: vacancy, maintenance, financing, closing costs, and all the little fees that love ruining a deal.
And once you find a good template, you can copy it forever, tweak it for your market, and stop reinventing the wheel every time a listing pops up.
If you want a quick primer on the numbers that matter before you even open Excel, this guide on the rental property numbers you should calculate before you buy will save you from rookie mistakes.
In this post, you’ll get 13 real estate deal analyzer spreadsheets you can copy, plus practical notes on what each one does best and when it’ll actually help you.
Let’s make underwriting less stressful and way more accurate—discover your next favorite template.
WHAT MAKES A DEAL ANALYZER SPREADSHEET ACTUALLY USEFUL
Most templates fail for one of two reasons: they’re too simple, or they’re so complex you need a small support group to use them.
A good spreadsheet should do three things fast:
- Show cash flow and return metrics clearly
- Force realistic assumptions (vacancy, repairs, capex, financing)
- Let you stress test (rent down, expenses up, interest rate up)
Also, watch out for templates that hide key assumptions in random tabs.
If you can’t find where vacancy or maintenance gets set in 15 seconds, you’ll “accidentally” assume 0% vacancy forever.
Spoiler: your tenants will not respect that assumption.
1) INNAGO – DEAL ANALYSIS SPREADSHEET (RENTAL DEAL ANALYZER)
Innago’s rental deal spreadsheet is built for the landlord brain: rent in, expenses out, and cash flow stays the main character.
This style of sheet usually keeps the basics clean: purchase price, down payment, loan terms, rent, taxes, insurance, repairs, and property management.
Who it’s best for:
- Newer investors who want a clear rental picture
- Landlords who want quick “yes/no” checks before deeper underwriting
Pro move: run it twice—once with your “best guess” rent, and once with rent 10% lower. If the deal collapses, it wasn’t strong.
2) INNAGO – BRRRR ANALYSIS SPREADSHEET
BRRRR deals look amazing on Instagram and chaotic in real life.
A BRRRR spreadsheet earns its keep when it helps you track all-in cost, rehab budget creep, after-repair value (ARV) assumptions, and refinance outcomes.
What to pay attention to:
- Rehab contingency (don’t pretend surprises won’t happen)
- Holding costs during rehab
- Refis at higher rates than you want
If the spreadsheet includes refinance LTV and a clear “cash left in deal” output, you’re in the right place.
3) BIGGERPOCKETS – ULTIMATE RENTAL PROPERTY ANALYSIS SPREADSHEET (LIGHT VERSION)
This one’s popular because it’s designed for speed.
Light versions usually cut the extra tabs and focus on the inputs that change a deal: rent, expenses, mortgage, and vacancy.
Best for:
- Screening lots of listings quickly
- People who want fewer moving parts
If you’re analyzing 20 deals a week, simpler is better. You can always graduate to a heavier model once a deal survives the first round.
4) BIGGERPOCKETS – J SCOTT RENTAL PROPERTY ANALYSIS SPREADSHEET
If you want a rental sheet with a bit more “investor discipline,” J Scott-style templates tend to push you to think through assumptions.
You’ll usually see stronger attention to:
- Cash-on-cash returns
- Debt paydown effects
- Exit assumptions
Use it when you’re past the “does it cash flow?” phase and you want to compare deals side-by-side with consistent math.
5) BIGGERPOCKETS – WHOLESALING SPREADSHEET (REHAB + RENTAL WHOLESALE ANALYSIS)
Wholesaling needs fast math that keeps you honest about spreads.
A wholesaling spreadsheet should help you calculate:
- Maximum allowable offer (MAO)
- Rehab estimates and ARV assumptions
- Assignment fee and end buyer room
If the sheet makes it easy to adjust rehab and ARV quickly, that’s perfect—because those two numbers get “massaged” the most in the wild.
6) BIGGERPOCKETS – RENTALSHEETS RENTAL / BRRR CALCULATOR
This is the kind of sheet you use when you want a rental analyzer and a BRRRR lens without switching tools.
You’ll typically get both:
- Rental performance metrics (cash flow, returns)
- Refinance outcomes (cash recovered, equity left)
Tip: don’t fall in love with a BRRRR spreadsheet that assumes you’ll always refi at perfect terms. Your lender didn’t get that memo.
7) LANDLORD STUDIO – 2026 RENTAL PROPERTY ANALYSIS SPREADSHEET (FREE TEMPLATE)
Landlord Studio’s template tends to lean toward the landlord/operator reality: you buy the place, then you live with the numbers.
It’s usually helpful if you want your analysis to match how you’ll actually track the property later (income/expenses by category).
Best for:
- Long-term buy-and-hold investors
- People who care about clean expense categories from day one
And if you’re the kind of person who prints a deal summary for your partner, lender, or investor buddy, ordering clean presentation prints from BuildASign can make your numbers look like a real plan instead of a late-night spreadsheet scramble.
8) STESSA – RENTAL PROPERTY EXPENSES SPREADSHEET TEMPLATE (TRACKING + ANALYSIS INPUTS)
Stessa’s angle is often expense tracking, which is secretly the best thing you can improve as a rental owner.
Even a basic expense template helps you stop guessing your operating costs.
This kind of sheet works best when you combine it with a deal analyzer:
- Use the analyzer to buy smart
- Use the expense sheet to operate smart
If your assumptions come from real tracked costs (not vibes), your next deal analysis gets way more accurate.
9) ADVENTURES IN CRE – EXCEL PRO FORMA FOR FLIPPING HOUSES (FLIP DEAL ANALYZER)
House flipping spreadsheets need to handle timing. That’s where most beginners get wrecked.
A flip pro forma should include:
- Purchase + closing costs
- Rehab budget and draw timing
- Holding costs (interest, utilities, insurance, taxes)
- Selling costs (agent fees, concessions, closing)
- Timeline assumptions (because delays cost real money)
If the model lets you change the timeline and instantly see profit shrink, it’s doing its job.
10) ADVENTURES IN CRE – MULTIFAMILY (APARTMENT) ACQUISITION MODEL (UNDERWRITING MODEL)
Multifamily underwriting templates can look scary, but they’re amazing once you understand the flow.
An acquisition model usually covers:
- Income by unit type / other income
- Operating expenses and expense ratios
- Financing structure
- Exit cap rate assumptions
- IRR and equity multiple outputs
Use it when you’re underwriting apartments, small commercial multifamily, or any deal where “rent minus mortgage” is not enough math.
11) TACTICA RES – MULTIFAMILY (APARTMENT) PROFORMA EXCEL TEMPLATE
Tactica-style pro formas often aim for usability: strong layout, clean inputs, and outputs you can present.
When you’re raising money or partnering, presentation matters because partners want to see the assumptions clearly.
This template category is best for:
- People building a repeatable underwriting system
- Investors who want a model that feels “institutional” but still editable
And if you’re writing investment summaries for partners, a writing tool like Grammarly helps you keep the explanation sharp and readable (because nobody wants to decode a 900-word paragraph about capex).
12) MERGERS & INQUISITIONS – REAL ESTATE PRO-FORMA EXCEL (OFFICE/RETAIL EXAMPLE MODEL)
This one usually fits the “commercial-ish” mindset: leases, timing, and pro forma structure.
It can be useful even if you mostly do residential, because it forces you to think like this:
- What happens when income changes over time?
- What happens when expenses increase annually?
- What does a conservative exit look like?
Use it if you want to level up your underwriting discipline, especially if you plan to move into mixed-use, small retail, or office later.
13) PROPRISE – FREE REAL ESTATE PRO FORMA TEMPLATE (EXCEL)
Pro forma templates like this are great when you want a flexible base you can customize.
They often give you the skeleton: income, expenses, financing, and returns.
Your job is to “localize” it: taxes, insurance, utilities, maintenance, property management, and vacancy assumptions that match your market.
If you want to make your customization easier, start building a personal “assumptions library” (your typical vacancy rate, typical capex per year, typical maintenance %). That becomes your underwriting superpower.
HOW TO COPY ANY TEMPLATE AND MAKE IT FIT YOUR DEALS
Here’s the part nobody tells you: the template matters less than your assumptions.
So once you copy any spreadsheet, do these upgrades:
- Create a “Conservative” toggle (rent down 10%, expenses up 10%)
- Separate repairs vs capex (to avoid lying to yourself)
- Add a vacancy line item even if the template forgets it
- Add a buffer for “misc” because life loves surprises
Also, save three versions of the same deal: optimistic, realistic, conservative.
If the deal only works in the optimistic version, it’s not a deal. It’s a wish.
If you want help choosing assumptions without overcomplicating your life, read how to estimate rental expenses without guessing—it’s basically a cheat sheet for making spreadsheets tell the truth.
A strong deal analyzer spreadsheet doesn’t just crunch numbers—it stops you from making expensive emotional decisions.
Copy one rental template, one BRRRR/rehab template, and one “bigger” underwriting model (like multifamily), and you’ll cover almost every deal type you’ll run into.
Then do the part that matters: tighten your assumptions, stress test your numbers, and compare deals consistently.
If you want to keep your deal tracking clean after you buy, pairing your analysis with real bookkeeping tools like QuickBooks makes your next underwriting round way more accurate.
Go copy a template, run the same deal three ways, and let the spreadsheet be the bad guy—so your bank account doesn’t have to.