Honest comparison

TrueCap vs PropStream: find the leads vs underwrite the deals

Q: Is TrueCap a PropStream alternative?

Not really — different problems. PropStream finds motivated-seller leads with skip-tracing and public-records data. TrueCap underwrites a specific property. Investors use both: PropStream to source, TrueCap to underwrite.

Q: Can TrueCap do skip tracing or pull property lists?

No. TrueCap focuses on per-deal underwriting using editable HUD rent and FRED rate benchmarks plus manual local property tax. For lead gen, lists, and owner contact info, use PropStream or DealMachine.

Q: Is PropStream worth $99/month?

Depends on volume. If you send 1,000+ direct mail pieces/month or wholesale, lists + skip-tracing pay for themselves. If you buy 1-3 properties/year via MLS or your network, PropStream is overkill.

Q: Does TrueCap have a free tier? PropStream doesn't.

Yes. TrueCap provides no-account preliminary screens with cap rate, CoC, DSCR, cash flow, and labeled address starting assumptions. Complete-decision allowances and Pro terms are on the live pricing page. Verify PropStream's current trial and paid terms on its official site.

Q: What's the best PropStream alternative for finding deals?

For lead gen: DealMachine (mobile-first), BatchLeads (similar to PropStream), or Reonomy (commercial). TrueCap is the underwriting layer you'd use after any of those finds a property.

PropStream is the heavyweight in real-estate lead generation — skip tracing, list-pulling, motivated-seller filters across 150M+ properties. TrueCap underwrites the user-reviewed assumptions for an individual lead. Different jobs: PropStream sources; TrueCap models the economics.

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TL;DR

Use TrueCap when

You've found a property and need to know if it cash flows.
You want a defensible analysis to send to a lender or partner.
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 motivated-seller lists (pre-foreclosure, probate, vacant).
You want owner phone / email 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	Not modeled
10-year projection	Pro — rent + expense + appreciation	Not modeled
Secondary Screening Index	Free — 0-100 triage score + factor breakdown	Not applicable
Starting values (rent/rate/tax)	HUD rent + FRED rate + manual local property tax	Property data only — no underwriting
Skip tracing	No	Yes — owner phone + email lookup
Motivated-seller lists	No	Yes — pre-foreclosure, probate, vacant, tax delinquent
Public records data	Limited (HUD FMR + FRED)	Yes — 150M+ properties
List builder / direct mail integration	No	Yes — full marketing stack
Mobile-first UX	Yes — PWA installable	Mobile app exists
Pricing (entry tier)	Free core; paid Pro — see live pricing	~$99/mo (as of 2026), no real free tier
Free tier	Yes — core cap rate, CoC, DSCR, and cash flow	No — paid only
Shareable read-only deal link	Free — read-only public link; Pro adds co-branding	Internal-only data
PDF deal report	Included with Pro	Not the use case

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

How most investors use both

Source the deal in PropStream. Build motivated-seller lists; skip-trace; pull contact info; send mail or text.
Get a callback / motivated seller responds. Now you have an address.
Underwrite in TrueCap. Paste the address. HUD area rent 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 selected targets.
Verify, then record your decision. TrueCap's Offer Ceiling solver (Pro) works backward from your selected targets. It is a modeled boundary, not a recommended offer.
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 alone.

Common questions about TrueCap vs PropStream

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

Is TrueCap a PropStream alternative?

Not really — they solve different problems. PropStream finds motivated-seller leads with skip-tracing and public-records data. TrueCap underwrites a specific property once you have an address. Most serious investors use both: PropStream to source, TrueCap to underwrite.

Can TrueCap do skip tracing or pull property lists?

No. TrueCap focuses on per-deal underwriting and uses HUD area rent 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. If you send direct mail to 1,000+ addresses a month or run a wholesaling operation, the lists and skip-tracing pay for themselves quickly. If you're a buy-and-hold investor who buys 1-3 properties a year through MLS or your network, PropStream is overkill — the data you need (rent, tax, property details) is already in TrueCap or your MLS access.

Does TrueCap have a free tier? PropStream doesn't.

Yes — TrueCap's no-account preliminary 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 (mobile-first driving for dollars), BatchLeads (similar volume to PropStream, sometimes cheaper), or Reonomy (commercial-leaning). TrueCap isn't in that category — we're the underwriting layer you'd use after any of those finds you a property.

Sources & methodology: Feature and pricing rows reflect PropStream's publicly listed information, last reviewed June 2026. Vendors change features and prices often — verify current details on PropStream'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 PropStream'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.

Analyze a property free

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.

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