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.
Free analyzer: no card or signup
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.
| Feature | TrueCap | Privy |
|---|---|---|
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 |
Starting values (rent/rate/tax) | HUD rent + FRED rate + manual local property tax | MLS-pulled property data |
Investor-filtered MLS search | No | Yes — cash flow, rehab, motivated |
Sale + rent comps | One free lookup; Pro includes 50 per month; no AVM | 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 — core cap rate, CoC, DSCR, and cash flow | Trial only; paid from ~$99/mo (as of 2026) |
Pricing (entry tier) | Free core; paid Pro — see live pricing | ~$99/mo + setup fees |
Privy details based on publicly available product info as of 2026. See privy.pro for their current state.
How active investors use both
- Search MLS in Privy with investor filters. Filter by cap rate threshold, rehab condition, DOM, price reductions, etc.
- Surface a property worth a closer look. Privy shows you a listing-level cap rate estimate based on its assumptions.
- Underwrite in TrueCap. Paste the address to start from editable HUD rent and FRED rate benchmarks, then enter local property tax manually. Replace the rent benchmark with your best local comp.
- 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.
- Review the Offer Ceiling in TrueCap Pro. It works backward from your selected target return; verify the material assumptions before recording a decision.
Curious how TrueCap lands on a different number than Privy? How to calculate cap rate shows the formula line by line, and what counts as a good cap rate puts the result in context for your market. Once you want that math run against HUD rent and a live rate, paste the address into the TrueCap analyzer.
Common questions about TrueCap vs Privy
Quick answers to the questions investors comparison-shopping these tools actually ask.
Is TrueCap a Privy alternative?
Privy vs PropStream — which one?
Why use Privy if I already have MLS access through an agent?
Does Privy underwrite deals?
Is Privy worth $99/month?
Sources & methodology: Feature and pricing rows reflect Privy's publicly listed information, last reviewed June 2026. Vendors change features and prices often — verify current details on Privy's own site. Where TrueCap claims “sourced defaults,” that refers specifically to an editable HUD area-rent benchmark and the FRED owner-occupied 30-year mortgage-rate benchmark. Property tax is a manual local input with a disclosed generic fallback, not a state-data auto-fill.
On price, plainly
Tools in this space run from free to well above TrueCap — check Privy's live pricing for their current number. What TrueCap's price buys is the decision layer, not more calculation: an Offer Ceiling under your selected targets, rule-fit results for your Buy Box with reasons, the downside stress test, and assumptions that are source-labeled instead of silently defaulted. Whether that workflow justifies the price depends on your volume, verification process, and existing tools.
Ready to run a real deal and compare the screening results yourself?
Free 60-second analysis with labeled starting assumptions and no signup. Pro calculates the highest modeled Offer Ceiling that still meets your selected targets under the assumptions shown.
Underwrite the next deal — free.
TrueCap free covers cap rate, CoC, DSCR, NCF, and monthly cash flow. Pro adds 10-year cash-flow and equity projections, sensitivity, Offer Ceiling, co-branded share links, and PDF reports with Pro; see live pricing for current terms. No card to start.