Real Estate Investment Analysis Model — NOI, Cap Rate, IRR & DSCR

5-year Financial Projections, Cap Rate (Capitalization Rate), Cash Flow Analysis, Cash Flow Projections, Cash on Cash Yield, Debt Amortization, Debt Service Coverage, Excel, IRR (Internal Rate of Return), Real Estate Valuation, Refinancing Scenario, Rental Income, Sensitivity Analysis

This Excel model helps real estate investors and analysts evaluate the financial viability of a property investment in minutes. It includes automated NOI calculation (following standard industry convention, excluding replacement reserve), an exact mortgage amortization schedule (CUMIPMT/CUMPRINC, not a linear approximation), Cap Rate, Cash-on-Cash Return, and DSCR calculations, a 5-year cash flow projection with IRR analysis, a sensitivity analysis sheet to stress-test key assumptions, and a visual dashboard summarizing all key metrics.

The model is built for real-world underwriting: input your purchase price, financing terms, rental income, and operating expenses, and the workbook automatically calculates every key metric lenders and investors look for. The sensitivity analysis lets you test how changes in interest rate, vacancy, or rent growth affect your returns, so you can stress-test a deal before committing capital. The workbook includes data validation on the down payment input to prevent entry errors, and all formulas are fully visible and unlocked for complete transparency.

This template is ideal for real estate investors evaluating a specific deal, analysts comparing multiple properties side by side, consultants preparing investment cases for clients, and students learning real estate underwriting fundamentals. Format: Excel (.xlsx), no macros required, compatible with Excel 2016+ and Google Sheets with minor formatting adjustments.

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