Question considering annualized ROI

[Joseph Buckley]

Hey all. I was looking at the real estate analysis calculator on here. I saw that as time continued, the annualized return on investment went down (year 2 annualized ROI is less than year 30 annualized ROI).

Wouldn't it make sense that the Annualized ROI would rise each year considering based on the calculator, your equity and cash flow are growing each year by a greater amount than they did the previous year (compound interest of the calculator)?

I understand this isn't a real world example, but would just like to conceptually understand why this is happening in the calculator. Also odd how it rose from year 1 to 2, then decreased all the way to 30.