TrueCap vs PropStream: find the leads vs underwrite the deals
By TrueCap · built by a Philadelphia rental investor
PropStream is real estate lead-generation software: lead lists, skip tracing, and marketing across more than 160 million property records, with built-in rental and flip calculators. TrueCap underwrites one deal in depth from assumptions you review: Buy Box fit, an Offer Ceiling from your own targets, and source-labeled starting values.
Free analyzer: no card or signup
TL;DR
Use TrueCap when
- You've found a property and need to know if it cash flows.
- You want an analysis you can share with a partner as a read-only link.
- You don't need to source leads — you have a deal in hand.
- You want a free tier that covers real underwriting.
Use PropStream when
- You source off-market deals as part of your strategy.
- You need lead lists (pre-foreclosures, tax liens, vacant properties).
- You want skip tracing for direct outreach.
- You're spending real money on direct mail or cold call campaigns.
Feature-by-feature
Side-by-side on every dimension that matters for a comparison-shopping investor.
| Feature | TrueCap | PropStream |
|---|---|---|
| Lifecycle stage | Underwriting — does this deal pencil? | Lead generation — find motivated sellers |
| Cap rate / CoC / DSCR analysis | Yes — full engine, free tier | Rental ROI Calculator and Analysis Wizard (cash flow, cap rate) on every plan |
| 10-year projection | Pro — rent + expense + appreciation | Its Rental ROI Calculator forecasts long-term returns; the horizon is not published |
| Deal score (0–100) | Free — 0–100 score with factor breakdown | Not among PropStream's listed features |
| Starting values (rent/rate/tax) | HUD rent + FRED rate + manual local property tax | Property and MLS data, with built-in rental and flip calculators |
| Skip tracing | No | Yes: free skip tracing included on Pro and Elite, extra contacts at 10¢ each; 12¢ a contact on Essentials (as of October 2026) |
| Motivated-seller lists | No | Yes: 20 Lead Lists, including pre-foreclosures, tax liens and vacant properties |
| Public records data | Limited (HUD rent benchmark + FRED) | Yes: over 160 million public records (as of October 2026) |
| List builder / direct mail integration | No | Yes: marketing campaigns on every plan; direct mail is a paid add-on on every plan |
| Mobile-first UX | Yes — PWA installable | iOS and Android app |
| Pricing (entry tier) | Free core; paid Pro — see live pricing | Essentials $99, Pro $199, Elite $699 a month billed monthly (as of October 2026) |
| Free tier | Yes — core cap rate, CoC, DSCR, and cash flow | No free plan; a 7-day free trial with 50 free leads |
| Shareable read-only deal link | Free — read-only public link; Pro adds co-branding | Not among PropStream's listed features; its analysis and comps export as PDF reports |
| PDF deal report | Included with Pro | Yes: Analysis Wizard and comps PDF reports on every plan |
PropStream plans, prices and features were checked against its pricing page in October 2026. See propstream.com/pricing for current terms.
How TrueCap and PropStream fit together
- Source the deal in PropStream. Build lead lists; skip-trace; pull contact info; send mail or email.
- Get a callback / motivated seller responds. Now you have an address.
- Underwrite in TrueCap. Paste the address. A HUD rent benchmark and the FRED owner-occupied rate can pre-fill as editable benchmarks; enter property tax from a local bill or reviewed rate. Run the analysis and review the Offer Ceiling under your targets.
- Verify, then record your decision. TrueCap's Offer Ceiling (in your first free decision) works backward from your targets: the highest price that still meets them.
- Close, save the deal, track actuals in your accounting tool. TrueCap doesn't do operations — pair with Stessa or your bookkeeping system.
Just want the underwriting half? The free 1% rule calculator screens a list of skip-traced addresses down to the handful worth modeling, and our guide to 60-second underwriting shows what happens next. When one survives the screen, the full TrueCap analyzer prices it — cap rate, DSCR, cash flow — from the address, the asking price and a bedroom count.
Common questions about TrueCap vs PropStream
Quick answers to the questions investors comparison-shopping these tools actually ask.
Is TrueCap a PropStream alternative?
Partly. PropStream is built to find leads, with lead lists, skip tracing, and public-records data, and it includes rental and flip calculators. TrueCap is built for one property once you have an address: DSCR, sensitivity, Buy Box fit, and an Offer Ceiling from your own targets. The two can be used in turn: PropStream to source, TrueCap to underwrite.
Can TrueCap do skip tracing or pull property lists?
No. TrueCap focuses on per-deal underwriting and uses a HUD rent benchmark and the FRED owner-occupied 30-year rate as editable benchmarks; property tax is a manual local input. For lead generation, list pulls, and owner contact info, PropStream or DealMachine are the right tools.
Is PropStream worth $99/month?
It depends on volume. Essentials is $99 a month billed monthly (as of October 2026). If you send direct mail to 1,000+ addresses a month or run a wholesaling operation, lead lists and skip tracing are the core of the work. If you're a buy-and-hold investor who buys 1-3 properties a year through MLS or your network, you may not need lead generation: a rent benchmark and a rate are in TrueCap, and the tax bill and property details come from the listing or your MLS access.
Does TrueCap have a free tier? PropStream doesn't.
Yes — TrueCap's free, no-account screen covers cap rate, cash-on-cash, DSCR, cash flow, and labeled address starting assumptions. No card is required. Complete-decision allowances and Pro terms are shown on TrueCap's live pricing page. PropStream is paid-only beyond its current trial terms.
What's the best PropStream alternative for finding deals?
If you specifically want lead generation, look at DealMachine (it has a driving-for-dollars app) or Reonomy (a commercial property data platform). BatchLeads is now a PropStream product: PropStream announced the acquisition in July 2025. TrueCap isn't in that category — we're the underwriting layer you'd use after any of those finds you a property.
On price, plainly
Tools in this space run from free to well above TrueCap — check PropStream's live pricing for their current number. What TrueCap's price buys is the decision layer, not more calculation: an Offer Ceiling for your targets, Buy Box fit 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.
Screening listings for investor clients? TrueCap for agents keeps a client roster and screens each deal against the Buy Box of the client you assign it to.
Underwrite the next deal — free.
TrueCap free covers cap rate, CoC, DSCR, and monthly cash flow. Your first complete decision also includes the Offer Ceiling. Pro adds 10-year cash-flow and equity projections, sensitivity, the Offer Ceiling, co-branded share links, and PDF reports; see live pricing for current terms. No card to start.
About TrueCap
TrueCap is built by one person, 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 source-labeled first-pass answer — and it's still how he runs the deals he considers.