We live in a digital era where everyone – including their eldest uncle – is online. The same can be said about businesses in all industries. In the real estate world, there are many online solutions that make our work easier. Some of these solutions are PropStream competitors.
Real estate is a serious game that involves a lot of numbers and data. Before investing in any market, you need to carry out in-depth market and property analysis. This analysis helps you invest in a profitable property. By profitable, we mean the most suitable property that aligns with your investment goals and criteria while maximizing your rate of return.
Due to the amount of work involved in this process, the internet has offered many online solutions to help potential and experienced real estate investors streamline this process and make their daily tasks easier. One such solution is PropStream.
Today, we look at what PropStream is, what it has to offer to real estate investors, and what some PropStream competitors and alternatives are.
What Is PropStream?
PropStream is an online real estate platform that provides data software and analytics for real estate professionals and investors. The platform benefits investors who want to carry out multiple types of investment analysis.
PropStream gathers its data from various online resources. The data is then uploaded to its database for investors to access. Once you enter the property’s address on the platform, you can get a complete property profile that includes the owner’s information, HOA, tax records, mortgages and liens, and pending divorces or bankruptcies.
PropStream’s main target audience is real estate professionals and investors looking for a SaaS data analysis resource platform to help streamline and boost their business. You can also find this platform helpful if you want to wholesale real estate and find great deals for other investors. It’s also ideal for investors in search of off market properties, and house flippers looking for potential fix and flip projects.
How Does PropStream Benefit Its Users?
As a real estate resource, PropStream has a lot to offer to real estate investors. You can find it instrumental, especially when it comes to data. Here is a breakdown of some of PropStream’s features:
Details
Any savvy real estate investor pays a lot of attention to details. If you are wondering how to find out who owns a house, we can say that this is one of PropStream’s strength areas. Other than just allowing its users to find distressed property sales on their platform, PropStream also gives its users access to statistics, trends, and analytics, such as:
- Property values
- Targeted property lists
- Property details
- Rent prices
- Available MLS details
- Real estate comps
- Foreclosure details (if any)
- Home owner details
- Tax details
- Mortgage information
- Transaction history
- Other available detailed reports and documents
- Premium reports (subject to a fee per report)
Skip Tracing
The skip tracing function allows investors to target pre-foreclosures. You can use this function to locate potentially profitable off market properties from motivated sellers.
Rehab Calculator
PropStream also has an integrated rehab calculator that lets investors have an idea of the estimated cost for rehab or home improvement project. This estimate is based on local labor rates and the quality of materials that will be used.
These features make PropStream attractive enough for real estate investors to want to sign up. However, every good thing comes with some potential downsides.
PropStream Flaws
Real estate investors who’ve used this platform have pinpointed a few imperfections. Here are some flaws that might make you consider PropStream competitors:
User Interface
One of the most outstanding imperfections of this platform is the user interface (UI). Many real estate investors have a hard time navigating the site since the user interface isn’t as friendly as it should be.
Unlike with other PropStream competitors, PropStream users find themselves having to spend a lot of time learning how to use the platform and get used to it. While there are many instructional videos and guides on how to use the platform, many users would rather not have to go to another website to learn how to use the software.
Similarly, the website’s Help section isn’t as helpful. There’s also no search function to make searching for topics easy and efficient.
Font Size
The site also has a small font size that makes it challenging, especially for users who may have a vision impairment. The platform would be a bit better if it allowed users to adjust the font size to suit those who have poor eyesight.
Cost
Price is a huge factor when it comes to software solutions. Many users have said that PropStream pricing is quite high compared to other similar real estate solutions, such as those that offer free real estate analysis tools, like Zillow and Realtor.com, as well as subscription services, like Mashvisor.
Although the platform has a 7-day free trial, there’s only one monthly subscription fee of $99. Besides, there are a few add-on services that you have to pay an additional fee for. While the price may seem somewhat reasonable for the features you get, there are other software options that offer just as much, but for less.
Related: PropStream Reviews: Is It Worth the Cost for Real Estate Investors?
PropStream Competitors and Alternatives
That being said, what are other PropStream competitors that you can turn to? Some of these platforms are among the best real estate websites.
1. Zillow
Zillow is one of the most popular platforms for real estate investors. This platform saves you the trouble of having to get a real estate license so that you can access the Multiple Listing Services (MLS). For example, you can also save thousands of fees you could’ve spent on MLS searching for a duplex for sale or another investment property.
With Zillow, you can search for historical property values and average rents and also see predictive forecasts for real estate trends. Even better, you can do all this and browse investment properties for sale without the help of a licensed realtor.
You can also find distressed properties on Zillow. To do this, you have to apply the listing type search “pre-foreclosures” filter under the “potential listings” heading.
Related: Should You Invest in Zillow Homes for Sale? Here’s How to Evaluate
2. DealMachine
PropStream primarily focuses on supporting the prospecting marketing strategy through direct mailing and voice messaging. On the other hand, the main focus of DealMachine is on the driving for dollars technique, with some direct mailing features.
This real estate app has automated the process of real estate prospecting. You can use it to find distressed properties and owner’s information from your home instead of spending a lot of time and money.
With DealMachine’s features, you can access property data, as well as owners’ contact details, while looking for distressed properties and motivated sellers. If you’re on the road looking for such properties, you can simply take a picture of the house and upload it to DealMachine, and the software will immediately give you its address, purchase history, liens, and owner’s name and contact information.
If you find this information satisfactory and you’re interested in the property, you can also use the app to send a postcard to the owner.
This real estate investment software also has a helpful feature called route tracking. This feature prevents you from driving through the same street more than once.
3. Mashvisor
Of all PropStream competitors, this has to be the most outstanding one. Mashvisor is one of the leading online software solutions for real estate investors, agents, brokers, and property managers as well. Mashvisor and PropStream are quite similar in some ways, especially when it comes to access to specific data and real estate tools.
However, Mashvisor comes out as the superior real estate software since you can analyze both traditional long-term and short-term rental strategies. Mashvisor’s real estate analytics tools give you access to cash flow calculations, occupancy rates, potential revenue projections, cash on cash return, cap rate, and investment purchase analyses.
Use Mashvisor’s real estate analytics tools to find cash flow calculations, occupancy rates, potential revenue projections, and investment purchase analyses.
Let’s look at some of the features Mashvisor has to offer in comparison to PropStream:
User Interface
Mashvisor has an interface that’s easy to use. New users usually adapt to the system fast and learn how to navigate it in no time. Many users appreciate how straightforward it is. Mashvisor was developed to accommodate beginner and first-time real estate investors, alongside experienced realtors. The developers understood that every single user has different levels of technical knowhow and challenges. That’s why the software’s UI was developed to be as user-friendly as possible.
Investment Property Calculator
Mashvisor’s investment property calculator helps investors identify the most profitable properties available in different US housing markets. This isn’t just any calculator you can find online. Using this profit calculator, you can conduct a comprehensive neighborhood analysis to determine if the market is ideal for your criteria and goals. Remember, location is one of the core pillars of real estate investment.
Once you’ve identified a location that you may be interested in, you can carry out an in-depth market analysis using the following criteria:
- Median price
- Average price per square foot
- Number of bedrooms
- Rental strategy
- Property type
- Rental comps
- Walk score
- Mashmeter score
- Number of Airbnb and traditional listings for sale
- Average traditional and Airbnb rental income
- Average traditional and Airbnb cash on cash return
- Average traditional and Airbnb cap rate
- Average Airbnb occupancy rate
These metrics are used to search for properties that are favorable for you. This is the best strategy to find a property that will not only help you break even but also help your business make a profit.
Our calculator stands out from other real estate investment calculators since it also includes an Airbnb calculator and mortgage calculator.
Related: The Best Airbnb Calculator in 2022: AirDNA vs. BiggerPockets vs. Mashvisor
Pricing
Compared to PropStream pricing, Mashvisor is much more affordable. Basically, you have three packages to choose from for the monthly subscriptions:
- Lite Plan: This plan allows you to analyze properties, project the return on investment, and estimate rental rates. This plan is available for $17.99 a month.
- Standard Plan: This plan includes all standard features in the Lite Plan and more functionalities, such as identifying more profitable markets and properties, short-term and long-term rental comps, and up to 20 searches that you can export to Excel every month. This plan goes for only $49,99 a month.
- Professional Plan: This plan contains all features in the Standard and Lite Plans plus more. Extra features include client management, bulk research, access to multifamily and foreclosure listings, and up to 60 searches per month that you can export to Excel, plus property PDFs. You get all of these for only $74.99 per month.
Above all that, Mashvisor also offers a 7-day free trial where users can get 15% off their subscription for life once the trial period expires. Compared to other real estate platforms, Mashvisor is quite affordable for all the features you get.
4. BatchLeads
BatchLeads.io helps real estate investors, agents, and wholesalers find motivated sellers, talk to property owners, and generate more revenue for their businesses. You can access this resource through a regular website or through their mobile app.
The platform was developed to provide real estate investors with the most accurate and latest skip tracing data possible. The data comes from reliable resources to help you find properties whose sellers are motivated to sell. This information will help you find owners who’re willing to walk away from properties that you’re interested in. You’ll also find it a great resource for wholesaling properties
5. REIPro
REIPro is another serious PropStream competitor. This is a centralized platform geared towards helping real estate investors. The only reason why you may not find it as an inclusive marketing and lead generation platform is that it doesn’t come with custom websites (landing pages).
However, it includes other helpful features, such as property lookup where you can find leads for prospecting, automated follow-ups, recorded property sales, marketing campaigns (mostly direct mailing), task management, and offer and contract templates.
6. Realeflow
When you run a side-by-side comparison between Realeflow and PropStream, you notice that the former offers more functionality-wise. Other than the similarity in direct mailing marketing features, the platform also allows you to source, fund, rehab, and list deals in one place.
7. Roofstock
Roofstock is a great resource to find single-family rental properties to invest in. Other than that, it’s also a great platform for investors to research the investment potential of almost every hot housing market in the US.
As an investor, you can select the most suitable markets for every unique investment strategy and then scrutinize an investment property for sale. You can then generate a comprehensive property proforma with vital financial metrics, such as cash flow, annual returns, gross yield, and projected appreciation.
8. Rentometer
Rentometer allows you to compare a property’s target rent to other rentals within the same neighborhood. You do this by simply entering the property address, the number of bedrooms, and rent projections.
Rentometer compiles a myriad of syndicated rental data, proprietary databases, and an aggregate of input generated by users to determine real-world and fair market rates. This is a vital platform since overcharging can lead to high vacancy turnovers and a loss-making venture. On the other hand, undercharging means you’ll be leaving money on the table.
Related: Rentometer Accuracy: How Reliable Is It?
9. Stessa
Stessa makes it easy for investors to track the financial performance of your investment, whether you’re managing a single rental property or multiple. It’s a cloud-based software that works for both traditional rentals, such as multifamily and single-family rentals, and short-term rentals, such as Airbnbs.
You simply enter your property’s details, connect to the property management and payment accounts, upload and sort your documents and invoices, and then track the performance of each rental and your entire investment portfolio.
10. BiggerPockets
One of the biggest challenges which real estate investors face is evaluating whether online information can be relied upon or not. However, the situation with BiggerPockets is different. This is one of the top real estate sites. Contributors to the platform have specific expert knowledge on all aspects of real estate investing, marketing, and personal finance.
Millions of real estate professionals and investors go through the site first thing every morning for the latest real estate news. Their resources contain vital real estate information from how to invest in real estate, through flipping houses, creative financing, and mortgages, to landlording and rental properties.
Related: BiggerPockets Analysis: How to Analyze Rental Property With BiggerPockets
PropStream Competitors Verdict
PropStream is a good resource that has helped many real estate investors land good investment deals. However, for investors who are looking for highly profitable investment opportunities, it may be worth looking at PropStream competitors and other best property websites. This is where Mashvisor comes in.
Mashvisor offers you more benefits than other PropStream alternatives. You can find properties that align with your investment goals and criteria, whether you plan on choosing the traditional or short-term rental strategy.
To learn how Mashvisor’s analytics tools can help you in your real estate investing journey, sign up for a 7-day free trial now, followed by 15% off for life.