Property Analysis Spreadsheet
Hello everyone,
I am looking to buy my first investment property in Columbus, OH and I have made this model to help do so. The way this model is set up, a deal can quickly be analyzed by inserting values on the 'Inputs' tab. The rest of the tabs in the spreadsheet are calculations I have made that reference back to the inputs tab. I know there may be some flaws with this model so if you analyze it and see issues please feel free to offer feedback as that was the point of posting it on BP...as well as using the model if you find it to be valuable. Any feedback is highly appreciated!
LINK: https://www.biggerpockets.com/files/user/StevenD09/file/property-analysis
Notes:
- This deal is set up for a househack with 3.5% down as I plan the live in it for one year and then rent out that unit
- I believe any investment should be considered using the Net Present Value approach which is why all of the tabs lead up to a statement of cashflows and then a NPV calculation
- Closing costs, expenses, insurance, income growth rate, expenses growth rate, appreciation, repair costs, and ARV are all estimates. I have not actually estimated repair costs which is why I put the $5K in repairs in the 'other' area. The rest of the inputs are from the MLS
- Because I would be using an FHA loan, I have set up the model so that I would theoretically live there for one year and another tenant would rent out that unit the first day of year two. I understand this isn't exactly realistic but that's why the monthly expenses and income change significantly starting Year 2
- Also, I would have intentions of keeping the property for at least 10 years (hence the 10 year cash flow statement.
Like I said, any feedback on the model itself or even the deal at hand is appreciated.
Thanks for everything BP community, you guys are awesome!
-Newbie