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Honest comparison

TrueCap vs Privy: filter the MLS vs underwrite the deals

Privy is an investor-focused MLS search tool — pull on-market listings filtered by investor criteria like cash flow potential, rehab condition, days on market, and motivated-seller signals. TrueCap is the underwriting calculator that runs the per-deal math on whatever Privy surfaces. Different jobs in the same workflow.

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TL;DR

Use TrueCap when

  • You have an address and want to underwrite it.
  • You want cap rate, DSCR, cash flow, projection.
  • You source deals through agents, MLS access, or referrals (not Privy).
  • You want a free tier with no monthly cap.

Use Privy when

  • You actively search MLS for investor-friendly deals.
  • You want investor-specific filters (cash flow, rehab condition, motivated signals).
  • You don't have direct MLS access through an agent license.
  • You're doing fix-and-flip or BRRRR and need rehab-condition flagging.

Feature-by-feature

Side-by-side on every dimension that matters for a comparison-shopping investor.

FeatureTrueCapPrivy
Primary purpose
Per-deal underwriting calculator
Investor MLS search + filtering
Cap rate / CoC / DSCR analysis
Yes — full engine, free tier
Listing-level cap rate estimates
10-year projection
Pro — rent + expense + appreciation
Not modeled
Tax strategy modeling
Pro — depreciation + interest + after-tax CF
Not modeled
Address auto-fill (rent/rate/tax)
Yes — HUD + FRED + state property tax
MLS-pulled property data
Investor-filtered MLS search
No
Yes — cash flow, rehab, motivated
Comparable sales (comps)
No
Yes — MLS-derived comp set
Motivated-seller flagging on MLS
No
Yes — DOM + price reduction signals
Off-market lead generation
No
Limited (MLS-focused)
Mortgage + financing math
Yes — PITI + DSCR + amortization
Not included
Free tier
Yes — full underwriting math
Trial only; paid from ~$99/mo (as of 2026)
Pricing (entry tier)
Free; Pro $19/mo
~$99/mo + setup fees

Privy details based on publicly available product info as of 2026. See getprivy.com for their current state.

How active investors use both

  1. Search MLS in Privy with investor filters. Filter by cap rate threshold, rehab condition, DOM, price reductions, etc.
  2. Surface a property worth a closer look. Privy shows you a listing-level cap rate estimate based on its assumptions.
  3. Underwrite in TrueCap.Paste the address. HUD rent, FRED rate, state tax pre-fill. Override Privy's rent assumption with HUD's (more conservative) or your local comp.
  4. Compare TrueCap's cap rate to Privy's estimate. If they diverge, dig into the assumptions — usually the difference is rent (Privy uses optimistic rent) or expense ratios.
  5. Make the offer with TrueCap's MAO solver (Pro). Back into your max-bid from a target return.

Want to see just the underwriting half? Try the cap rate calculator or the full TrueCap analyzer. Our guide on 60-second underwriting walks through the workflow end-to-end.

Common questions about TrueCap vs Privy

Quick answers to the questions investors comparison-shopping these tools actually ask.

Is TrueCap a Privy alternative?
No — they solve different problems. Privy is investor-focused MLS search and filtering. TrueCap is per-deal underwriting once you have an address. Many active MLS-sourcing investors use both.
Privy vs PropStream — which one?
Different focuses. Privy is on-market MLS data with investor filters. PropStream is off-market lead generation (skip-tracing, motivated-seller lists, direct mail). If you source through the MLS, Privy. If you source off-market via mail / cold call, PropStream. Some investors run both.
Why use Privy if I already have MLS access through an agent?
If you already have MLS access, Privy's value is more limited — its strength is the investor-specific filtering on top of MLS data, not the MLS data itself. If you're comfortable using Realtor.com / Zillow / your agent's MLS portal and applying investor logic mentally, Privy may not add enough.
Does Privy underwrite deals?
Sort of — it shows listing-level cap rate estimates and rehab condition flags, but it doesn't do per-deal underwriting at TrueCap's depth (DSCR, sensitivity, projection, tax strategy). Privy gets you to a shortlist; TrueCap turns the shortlist into decisions.
Is Privy worth $99/month?
Depends on volume. If you're actively sourcing MLS deals across multiple markets and don't have agent-grade MLS access, the investor filters pay off in time saved. If you have a great agent and look at 1-3 deals a month, Privy is overkill — TrueCap's free tier + your agent's MLS access cover the workflow.

Underwrite the next deal — free.

TrueCap free covers cap rate, CoC, DSCR, NCF, and monthly cash flow. Pro unlocks projections, sensitivity, tax strategy, exit scenarios, deal score, MAO, PDF exports, and shareable read-only deal links. No card to start.

See Pro pricingRun a deal now