RivetRatio worksheet
CRE property analysis worksheet
Bring annual property income, operating expenses, debt service, property value, and loan amount into one place. See how NOI, cash flow after debt service, DSCR, debt yield, and LTV relate before a lender conversation.
RivetRatio · Preparation worksheet
CRE case comparison
Current and alternative property assumptions with their calculated NOI and DSCR.
Current case
- Annual property income
- Not entered
- Annual operating expenses
- Not entered
- Annual debt service
- Not entered
- Property value
- Not entered (optional)
- Loan amount
- Not entered (optional)
- Net operating income (NOI)
- Not calculated — income and operating expenses are required
- Debt service coverage ratio (DSCR)
- Not calculated — income, expenses, and debt service are required
Alternative case
- Annual property income
- Not entered
- Annual operating expenses
- Not entered
- Annual debt service
- Not entered
- Net operating income (NOI)
- Not calculated — income and operating expenses are required
- Debt service coverage ratio (DSCR)
- Not calculated — income, expenses, and debt service are required
NOI uses annual property income minus annual operating expenses. DSCR uses NOI divided by annual debt service. Property value and loan amount are shown as entered but do not affect these two results. Estimates are for preparation only; lender methods and requirements can vary. Worksheet inputs stay in this browser and are not submitted.
Prints both cases as currently entered, including any missing or invalid values. Inputs stay in this browser and are not submitted.
Worksheet inputs
Property assumptions
Saved on this device so you can resume after reloading.
Enter amounts in U.S. dollars for one 12-month period. Your inputs are saved in this browser only and are never sent to RivetRatio.
Use this worksheet to organize figures for a lender conversation. It does not determine eligibility or predict approval.
Illustrative assumptions · sample figures
Sample figures for one illustrative property; these are not actual property records.
- Annual property income
- $240,000
- Annual operating expenses
- $90,000
- Annual debt service
- $100,000
- Property value
- $1,200,000
- Loan amount
- $800,000
- Illustrative annual NOI
- $150,000
Load all five input figures, then edit any amount. Loading them replaces all five current inputs.
Case 01 · Baseline
Current case
The property and financing assumptions you are evaluating.
Use total income for the same 12-month period.
Enter property operating expenses; do not include debt service here.
Enter annual principal and interest payments for the same period.
Needed for LTV; enter the current value of the property being analyzed.
Needed for debt yield and LTV; enter the loan amount being analyzed.
Case 02 · Scenario
Alternative case
Compare a second set of annual figures. These inputs stay independent from the current case.
Use total income for the same 12-month period.
Enter property operating expenses; do not include debt service here.
Enter annual principal and interest payments for the same period.
Calculated snapshot
Results at a glance
Current case metrics with the NOI and DSCR comparison below.
Net operating income (NOI)
Annual income minus operating expenses.
Cash flow after debt service
NOI minus annual debt service.
Debt service coverage ratio (DSCR)
NOI divided by annual debt service.
Debt yield
NOI divided by the loan amount.
Loan-to-value ratio (LTV)
Loan amount divided by property value.
Preparation only
Current and alternative case
This comparison is not a lender decision or an approval prediction.
| Measure | Current case | Alt. caseAlternative |
|---|---|---|
| Net operating income (NOI) | ||
| Debt service coverage ratio (DSCR) |
Current case: Enter annual income and operating expenses to calculate NOI and DSCR.
Alternative case: Enter annual income and operating expenses to calculate NOI and DSCR.
Enter annual property income and operating expenses to calculate NOI. Add debt service for cash flow and DSCR. Property value and loan amount are optional.
How the calculations work
- NOI = annual property income − annual operating expenses.
- Cash flow after debt service = NOI − annual debt service.
- DSCR = NOI ÷ annual debt service.
- Debt yield = NOI ÷ loan amount.
- LTV = loan amount ÷ property value.
DSCR compares NOI with annual debt service. Debt yield compares NOI with the loan amount. LTV compares the loan amount with property value.
The figures are for preparation only. A lender applies its own review and criteria.