PropStream is a real estate analytics platform that has gained some popularity in recent years. But does the PropStream pricing model make sense?
If you’re new to real estate investing and you’re looking for how to invest in real estate, one of the first things you will see online is the plethora of online tools and SaaS platforms. These platforms are designed to address the specific needs of every real estate investor.
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In recent years, it has become difficult for beginner investors to find the right platform to suit their investment needs.
It is because, among the large number of platforms to choose from, some of them might offer inaccurate data or questionable results for prices that can highly affect your finances.
So, in this article, I aim to delve into PropStream pricing. I will also discuss what PropStream reviews say about the platform. I will also talk about what type of investors should use it and what could be a better option for you to use.
That being said, let’s closely examine PropStream and what it has to offer real estate investors like you.
Related: 7 Real Estate Investor Websites to Use
What Is PropStream?
PropStream is a real estate platform that provides real estate market data, lead generation, and management tools to help investors find more sellers across the nation.
PropStream is created to focus on foreclosures and off-market property searches. It is also utilized for lead-management systems that are obviously designed around managing a very large number of leads. Apparently, the platform is designed with professional and large investors in mind.
In addition, the platform offers some niche services and features that we will discover in a bit.
But before we jump into the features, let’s first talk about the PropStream pricing model.
PropStream Pricing Model
There are two main things that I noticed most PropStream reviews criticize. Those two things are the platform’s user interface (UI) and the PropStream pricing options.
I will talk about the UI issues in a later section of this article. For now, let’s take a look at the problem with PropStream’s pricing.
Firstly, while PropStream pricing comes in the form of a monthly subscription, you are only presented with one option.
It only offers one monthly plan for $99 per month listed on its PropStream pricing page, with no different tiers of subscription or discounted plans. such as a quarterly or an annual plan.
And while it may lead you to think that you will gain access to all of its features and services since it’s a single plan, you will be wrong.
In order to gain access to some of the other features, you must pay a considerable price for each feature separately—and that is in addition to the monthly subscription fee.
It is only fair to mention here that there is a PropStream free trial, which lasts seven days and is enough for you to try the platform and see if it suits your needs. However, the free trial will not give you access to the other paid features.
So, let’s take a look at the platform’s features and the PropStream pricing for each of them.
PropStream Pricing per Feature
First of all, let’s start with the features that you get for the $99 monthly subscription or the PropStream free trial.
Listed below are the core features of the PropStream platform and the main tools and services that the monthly subscription offers:
- Access to the online platform and the mobile app
- Nationwide property data
- Property search map tool
- Lead generation tool
- Property comps
- Integrated marketing platform
To supplement the above features and gain access to the platform’s full potential, you need to pay for each of the following features as per the PropStream pricing model:
The List Automator Tool
The List Automator tool does daily list monitoring for properties that you’re interested in. Basically, the tool lets you “save” up to 2,000 properties and import their data.
However, it costs an additional $27 per month, with an option to add a Skip Tracing feature for an extra charge.
What Is Skip Tracing?
Skip tracing is a process wherein you can locate the contact information of a property owner. Typically, real estate professionals and investors skip trace to find the contact details of a property owner to market directly to their leads.
PropStream’s Skip Tracing tool works with its List Automator tool, as you only need to import an outside list using the latter. It can be done on PropStream by selecting the Skip Trace option from the navigation menu. However, you should note that skip tracing on the platform will cost you at least $0.10 per skip trace.
Team Member Feature
The Team Member tool simply lets you add more users to your account and control their access level, which is a standard feature in most online platforms nowadays.
To be able to add up to 5 team members to your account, you must pay an additional $20 monthly on top of your subscription.
Marketing Tools
Another part of PropStream pricing includes paying additional fees to gain access to the full capabilities of its integrated marketing platform.
In this category, they have three options that you can pay for:
- Professional postcards, which cost a minimum of 40 cents each
- Skip Tracing with DNC flagging, which costs 12 cents each
- Emails, which costs 2 cents each
As you can see, the PropStream pricing model is very confusing, as when you’re looking at the additional features, the monthly cost can increase to almost $150 per month.
Not to mention that in order to use its integrated marketing platform, you would need to pay extra fees. It applies to even the simplest of things, like sending professional postcards or even sending emails.
It can be a significant amount of money for beginner investors to spend on a platform to gain access to real estate listings.
What’s the Best PropStream Alternative?
When it comes to analyzing real estate markets using up-to-date data from trusted sources, such as the MLS database, the number of alternatives that you can find online is limited.
So if you’re looking for the top alternative and the best choice when it comes to the real estate market and rental analysis, then Mashvisor is the tool for you.
Related: The Best Real Estate Investment Software
For several reasons, beginner and professional real estate investors might be looking for a real estate tool online. It all comes down to the type of information they’re trying to access.
For example, you could be a prospector wondering how to find out who owns a house or a professional investor looking at how to find comps in my area.
These are two things that both PropStream and Mashvisor can provide through their access to the MLS database.
However, as you will see next, Mashvisor offers much more comprehensive real estate data. It includes a heavy emphasis on rental analysis, as it is the most popular investment strategy that real estate investors use.
So, in the next section, I will talk about Mashvisor’s platform and the tools and features that it offers. I will also compare Mashvisor’s pricing to PropStream pricing to see which tool is more worth its price.
What Is Mashvisor?
Mashvisor is a real estate platform that uses data from trusted sources, such as the MLS database and Airbnb, to provide real estate market analytics and rental analysis tools.
By utilizing metrics such as the cap rate or the cash on cash return, Mashvisor’s advanced algorithm can analyze each market and property. With the same metrics, it can project the current and future return on investment. The platform makes it easier than ever for beginner investors to identify a good investment property from a bad one.
Mashvisor offers numerous tools and features, including a user-friendly Investment Property Search tool. The tool lets you easily find properties in your market of choice and see their performance as rental properties.
Related: The Ultimate Investment Property Search Tool
Additionally, it provides all the information you need about each investment property. It includes the current owners and their contact info, the property’s type, size, and the number of rooms.
Finally, Mashvisor provides the user with a cap rate calculator. The calculator runs a rental analysis of each investment property based on the property’s price, rental income, and all relevant costs and expenses.
So, if you’re looking for how to find comps in my area or how to find out who owns a house, then Mashvisor can do that and more.
On the hunt for either long-term or short-term rental properties? Find the best deals with Mashvisor.
The first tool that users encounter is Mashvisor’s Investment Property Search, which displays a map of their city of interest as well as pins of where the properties for sale are located.
Mashvisor vs PropStream Pricing Model
When it comes to Mashvisor vs PropStream pricing models, Mashvisor’s subscription plans are more varied and have discounted options.
Depending on your needs, how deep you want to go with your analysis, and the number of properties you want to analyze, Mashvisor’s pricing gives you greater flexibility. Mashvisor’s plans range from $17.99 per month for the Lite plan, $49.99 per month for the Standard plan, and up to $74.99 for the Professional plan.
Additionally, the most popular Mashvisor plans are its quarterly plans since most real estate investors are active during specific seasons each year. But there are annual plans as well, which come at an even bigger discount.
Of course, just like the PropStream free trial, Mashvisor offers a 7-day free trial to any subscriber. The difference, however, is that Mashvisor also offers a free subscription, which gives the user limited access to the platform.
Here is a breakdown of Mashvisor’s different pricing tiers:
Free Trial
Mashvisor’s free trial allows non-users to test the platform to see how helpful it can be for them. Since this is just a free plan, users are given very limited access—a sneak peek—to what the platform offers. The free trial lasts up to seven days and can be canceled if you don’t find its performance satisfactory.
Lite Plan
The Lite Plan allows subscribers to analyze different rental properties in any market of their choice. As a user, you can get rental market information on potential long-term and short-term rental properties and make fairly accurate ROI projections.
The plan will cost you $17.99 per month and is billed annually.
Standard Plan
Mashvisor’s Standard Plan gives you all that the Lite Plan offers and more. At $49.99 a month (or $599.88 a year), the Standard Plan allows you to uncover investment opportunities in neighborhoods and cities of your choice.
Additionally, you can make side-by-side comparisons of rental properties to see if a subject property is worth investing in. The plan also allows you to export up to 20 property searches to Excel per month.
Professional Plan
The Professional Plan is considered the premium plan as it gives you everything that the Standard Plan offers and even more.
Many real estate professionals and career investors opt to go with the Professional plan as it allows them to analyze large datasets at a time. It lets them find multifamily and foreclosure properties and lets you upload and analyze property listings. The plan also lets you export up to 60 searches to Excel in a month.
The Professional Plan will set you back by $79.99 monthly (or $959.88 annually), but given all the benefits it offers, it is totally worth it.
Overall, the most expensive subscription plan is reasonable, considering it gives you access to all the tools and a large number of rental comps and data imports.
To get access to our real estate investment tools, sign up for a 7-day free trial of Mashvisor today, followed by 15% off for life.
Mashvisor vs PropStream Features
So, we’re done looking at both PropStream pricing and Mashvisor’s subscription plans. Now, let’s compare the two platforms in terms of their features, the way they utilize the MLS database, their real estate heatmap features, and more.
Finding Investment Property for Sale
When it comes to searching for investment properties for sale, both platforms offer very similar tools. Tools like the map search and real estate heatmap are designed to help you find what you’re looking for.
For example, if you’re looking for a duplex for sale, you can use the map search tool on either platform to filter properties based on their type, size, price, or current condition.
Additionally, both tools will give you information about the property as well as facilitate the way of contacting them and making a deal.
However, the biggest difference between the two boils down to the quality of information and data they offer. PropStream offers a wider range of filters related to the condition of the property. Mashvisor, on the other hand, offers much more useful information in the form of rental analysis and cap rate projections.
And Mashvisor can still be used to find the same types of properties as PropStream, as there are filters for finding a foreclosed duplex for sale, for example.
Additionally, the UI of PropStream’s search tool is considered by many PropStream reviews to be not user-friendly and difficult to use. The not-so-friendly feedback is hard to miss, especially compared to Mashvisor’s friendlier design.
Like PropStream, Mashvisor has a real estate heatmap that gives users a quick overview of the best parts of a city in terms of cash on cash return or other metrics.
Real Estate Market Analysis
Since both platforms are real estate market analysis tools, it’s important when comparing PropStream pricing with Mashvisor to look at their core analytics features.
PropStream provides data that mostly relates to the type of property, its condition, and its price.
We’ve already mentioned that PropStream focuses on foreclosures and distressed properties. For this reason, the platform also provides real estate market analysis in terms of each property’s renovation costs. It helps investors know if a subject property is worth fixing and flipping.
Mashvisor, on the other hand, focuses on rental property analysis. It is to help real estate investors who are looking to buy a rental investment property find one with a high cap rate or good cash on cash return.
However, Mashvisor also provides data related to each property’s operating costs and expenses. It also calculates the average cost of renovations based on the market that the property is in. And these numbers can be modified to see the immediate impact on the property’s projected returns.
So, when it comes to real estate market analysis, both platforms pull data from the MLS database. But they pull these data in different ways and focus on different investment strategies.
Mashvisor’s range of data allows it to serve as an alternative to PropStream when it comes to fix-and-flip strategies. PropStream doesn’t offer any data that can be useful for a rental property investor, which gives Mashvisor an upper hand.
Final Verdict
Overall, PropStream is a niche platform that’s designed to appeal to a very niche type of real estate investor.
So, if you’re a professional real estate investor with a large portfolio specializing in fixer-uppers and a team working with you, then PropStream pricing might be worth it for you.
However, if you’re looking for a platform that offers a wider range of data and features, give Mashvisor a try. Mashvisor can help you get started in real estate investing today.
With helpful tools such as the Property Search tool and real estate heatmap, you will find the right investment property. With three different pricing options and a free-trial feature, you can’t go wrong when you go with Mashvisor.