Who builds this
TrueCap is built by one person: Morgan Page, a rental investor in Philadelphia. It started as the tool he wanted for his own underwriting — a way to get from an address to a defensible answer in about a minute — and it's still how he runs the deals he considers.
Why the math is opinionated
Most rental calculators will produce whatever number you want to see: leave vacancy at zero, skip the CapEx reserve, and everything cash-flows. TrueCap's defaults lean conservative on purpose. Vacancy, maintenance, and CapEx reserves are in the math from the first run, and the verdict says plainly when a deal doesn't work at the asking price. Every assumption is editable — the point isn't to hide the levers, it's to make the first number you see one you could defend to a lender. A deal that only works with optimistic inputs isn't a deal, and finding that out on screen is much cheaper than finding out after closing.
Every formula the analyzer uses is documented, down to the conventions, on the methodology page.
What TrueCap does
Type an address and get a full underwrite in about 60 seconds: monthly cash flow, cap rate, cash-on-cash return, DSCR, 10-year projections, and a plain-English verdict. The core analyzer is free with no signup. A paid plan adds saved deals, a portfolio dashboard, deal comparison, and lender-ready PDF exports.
Get in touch
TrueCap is a small operation, which means email actually gets read. Questions about the math, a number that looks off, or something you wish the analyzer did: hello@usetruecap.com.