Development, Financial Model, Investment, Real Estate, Residential Properties

10-year Financial Projections, Business Valuation, Cash Flow Analysis, Cash Flow Projections, Dashboard, Debt Amortization, Debt Schedule, Debt Security, Debt Service Coverage, Discount Rate, Excel, Financial Feasibility, Financial Model, Financial Modeling, Financial modelling, Financial Planning, Financial Projections, Financial Ratios, Financial Reporting, Financial Statements, Financing, Forecast, Forecasting, Free Cash Flows, Income Statement, Investment Multiple, Investor Cash Flows, IRR (Internal Rate of Return), LLCR (Loan Life Coverage Ratio), Real Estate Valuation, Rental Income, residential properties, Return on Investment (ROI)

Buying a house with a suite, a duplex or a fourplex in Canada? Most rental property templates are built for American or generic markets: monthly mortgage compounding, no mortgage insurance, and either no income tax or a flat rate. In Canada those shortcuts give the wrong answer. This Excel model applies the Canadian rules and shows what you really earn after tax, year by year and on the day you sell.

Why this model

It is built around the decisions Canadian small landlords actually make: whether to live in one unit and use an insured mortgage with as little as 5% down, how the stress test and lender ratios treat the rent, what land transfer tax you pay in your province or city, and what the CRA lets you deduct. Every default is a published Calgary benchmark or Canadian rule, cited on a Sources tab, so you can see where each starting value comes from before you replace it.

Canadian rules built in

CMHC premium grid by loan-to-value, the 0.20% surcharge over 25 years, the $1.5 million cap, minimum down payments by number of units and provincial sales tax on the premium
Fixed-rate mortgage math with semi-annual compounding, exact to the cent, with renewals and the federal stress test (contract rate plus 2 points or 5.25%)
Land transfer tax and title fees for every province, plus Toronto and Montreal municipal tax
CCA Class 1 on the building only, the first-year enhancement, the rule that CCA cannot create a rental loss, recapture and terminal loss
Capital gains at the 50% inclusion rate, with the principal residence exemption for the unit you live in
Financing costs deducted over five years and acquisition costs added to the cost base, as the CRA rental guide requires

Deal structures and scenarios

Switch between ready-made deal structures, each tested in Downside, Base and Upside markets: an investor at the city benchmark price, a house hack with the owner upstairs, an investor in a lower-priced district and, in the Due Diligence Edition, a value-add plan that builds a legal suite and refinances. Or enter your own in the Custom column.

Two editions

Feasibility Edition: annual model up to 30 years with up to 4 units, a scenario switch, deal structures, the full Canadian mortgage, insurance and tax logic, an income statement, cash flow and balance sheet, after-tax IRR, NPV, cash-on-cash, cap rate, DSCR, a dashboard and integrity checks.
Due Diligence Edition: everything in the Feasibility Edition, plus:
a unit-level rent roll with in-place and market rents, tenant turnover, downtime and leasing costs
renovation and suite build-out with refinance at a maximum loan-to-value, with interest on cash taken out for personal use kept non-deductible
term renewals at different rates and lump-sum prepayments
a lifecycle replacement schedule (roof, furnaces, hot water tanks, appliances, flooring, windows)
borrower qualification: GDS and TDS at the stress test rate, using CMHC’s rental income approach
after-tax IRR for every possible sale year, to find the best time to sell
twelve live sensitivity cases with a tornado chart, plus break-even rent and break-even interest rate
four editable market scenarios

Key outputs

After-tax and pre-tax equity IRR, NPV, equity multiple and total profit, with an owner-occupied view that counts the rent you avoid
Year-1 rent collected, NOI, cap rate, monthly cash flow, cash-on-cash return, DSCR and break-even occupancy
Where the profit comes from: rental operations, value growth, financing and transaction costs, income tax and avoided rent
Sources and uses at purchase, sale proceeds, selling commission, tax on the sale and mortgage payoff
Dashboard charts: NOI against mortgage payments, after-tax cash flow, property value against mortgage and equity, profit sources

Built to modeling best practice

Inputs, calculations and outputs on separate sheets; color-coded inputs (blue on yellow), formulas (black) and cross-sheet links (green)
One formula per row for years 1 to 30 (the purchase column has its own); no macros, no circular references, no hidden or protected sheets, no external links
Checks sheet confirms the balance sheet balances, the mortgage is repaid, sources equal uses, profit sources add up, down payment and insurance rules are met, and CCA never creates a rental loss
Contents sheet with links, step-by-step instructions, a glossary and a full source list

Default assumptions

Defaults describe a Calgary detached house with a legal two-bedroom basement suite at the CREB benchmark price of $739,400 (September 2026), with rents from the September 2026 Rentals.ca report, CMHC vacancy data, Calgary’s 2026 property tax rates and October 2026 mortgage rates. At these defaults an investor with 20% down loses money in year one, which is the honest picture at current prices and rates. The house hack, where the owner lives upstairs, reaches an after-tax IRR of about 9.6% (9.3% in the Due Diligence Edition, which also models tenant turnover and lifecycle replacements), counting the rent the owner no longer pays. Replace the defaults with your own quotes, leases and lender terms.

What you get

One Excel workbook (.xlsx) for the edition purchased, built only with functions available since Excel 2010 (no dynamic arrays, no macros)
A free PDF demo showing the main sheets of the Due Diligence Edition

Support and customization

Questions about how the template works are answered by email. Launchwright can also adapt the model to your property, lender or portfolio, quoted at a fixed price in writing before work begins. Contact details are inside the model.

Important

This template is for planning and illustration. It is not investment, tax, legal or mortgage advice. Tax and insurance rules change; confirm them with your accountant and lender.

Word count of the description above: about 921 words (the site minimum is 300).

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