Though PropStream has its pros, you may still be looking for a PropStream alternative. Read on to learn which website that would be.
Any real estate investor knows that data is one of, if not the most important factor in real estate investing. The whole point of investing in a property is to later make a profit from that initial investment. This means if you put your money towards a property that no one will rent out, you will end up incurring losses in the end. For this reason, investors must take into consideration the relevant real estate data to ensure their property will earn them a return on their investment.
Keeping track of all of this data can be tricky. You also may even have trouble finding data that you can count on. This is why real estate websites have tools to help guide you through the data on your investment. This article will explore two different real estate investing websites: PropStream and Mashvisor.
What Is PropStream?
Before we can offer a PropStream alternative, we must look at what the platform has to offer. PropStream is an online platform that is geared towards real estate investors, agents, and brokers who are looking for tools to help their business. This website offers nationwide real estate data that is meant to help its users make investment decisions.
As the most important aspect of investing is in the data, users will want to know exactly where PropStream gets its data from. Being a multi-sources site, it collects data from the Multiple Listing Service or MLS, county recordings, and private sources. Though we can all agree the MLS is a reputable source, I’m sure many users are wondering exactly what private sources PropStream is using to generate its data.
Using its data, PropStream aims to offer its users certain real estate trends, statistics, and analytics. Below are some of the main metrics that PropStream offers:
- Property details
- MLS and other listings available
- Predictable information on mortgage and taxes
- Additional documents about the property
Lastly, PropStream offers a feature that lets its users message the owner of a property if they are interested in that unit for some kind of investment, whether it be to flip it or purchase it to list as a rental.
What Tools Does PropStream Offer?
PropStream offers their users a variety of services within their one main tool. When you visit the PropStream website, you are able to use their search engine to look for available properties in any area across the U.S. Then when you click on a property, you are provided with an overwhelming amount of data for the selected unit. Below are some of the features that PropStream provides when you click on a property:
The MLS, aka the Multiple Listing Service, is a source that connects potential homebuyers to people selling their homes. Using the data from this software helps users locate investment properties quicker.
Real Estate Comps
A real estate comparison is a way for investors or agents to determine how a property should be priced based on the prices of other similar homes for sale in the area or the prices of recently sold houses. This helps determine if their listing is priced fairly.
With this feature, buyers can calculate all of the possible renovations or maintenance a property might need. This will help investors avoid buying a property that needs a big budget to remodel, making it not worth investing in the first place.
Skip tracing means being able to access the owner’s contact information, such as a phone number or an email, so investors can reach them and ask questions about the property. This can be useful for finding the owners of off-market properties.
Overall, the deal analyzer feature informs PropStream users if their choice would be a profitable investment property.
How Much Does It Cost to Use PropStream?
If you are considering investing in real estate, you must take into account every penny when budgeting for your investment. This means considering how much PropStream pricing is. To use PropStream, it will cost you about $99 per month for the most basic version of the software. Additionally, there are add-ons you can purchase after registering for the basic version. These add-ons include:
- Mobile Scout
- Marking Tools
- Team Member
- List Automator
Most add-ons in PropStream come with an additional cost. Other features that seem as though they are included in the basic version, such as skip-tracing, also come with an additional cost. For each skip trace search, it will cost you 12 cents along with an additional 2 cents for emails sent by using the skip tracing feature.
Though some of these add-ons cost only a few cents, note that the amount is for each individual search. These can add up and actually lower your profits in the end.
Now that we have explored PropStream, I will recommend a PropStream alternative that could be a better investment for you down the line. Continue reading to learn about the best real estate website.
What Is Mashvisor?
A great PropStream alternative for real estate investing is Mashvisor. We are a website that specializes in making investing in real estate easier and more efficient. We use reliable data to show our users how a property will perform as a rental. You can search through listings available in any neighborhood, city, or state in the U.S and we will provide you with the essential metrics so you can determine if that property will be a good investment.
Not only will we provide you with current data on any property you are interested in, but we will also display predictive data for that unit. Our software analyzes data to show how any property is expected to perform in the future. In real estate investing, it is key to make sure that your income property will continue to generate a profit. You don’t want to purchase an investment that will only be successful for one year.
We collect our data from reliable sources such as the MLS, Airbnb.com, and Zillow. It is important for us to provide you with the most reliable data as it is the most important aspect of investing in real estate. We want our users to make a profit from using our data. Additionally, something unique we do with our data is showing the median rather than the average. This strategy eliminates any outliers that may be skewing the averages of the data you see on other real estate websites.
Lastly, we provide you with both data for Airbnb properties and traditional rentals. This helps you determine if a property will perform better as an Airbnb rental or as a traditional rental. We want to give you all of the information possible to help you make the best real estate investing decisions.
Now that you know a little about Mashvisor, continue reading to learn more about why we are a great PropStream alternative and the top real estate site.
What Tools Does Mashvisor Offer?
We are the best PropStream alternative because we offer every tool an investor would need to succeed in real estate investing. Mashvisor offers a variety of tools that provide even more data than Propstream does, and we make that data easier to read and understand by only displaying the information you need based on what tool you are using. Being presented with every real estate metric all at once can be extremely difficult to understand and interpret. We make this data accessible to anyone, whether you are an experienced real estate investor, agent, or someone looking to begin their investment journey.
Below are some of our most useful tools:
The Property Finder
One tool that makes us the best property website is our Property Finder tool. Before you can even begin to invest in real estate, you need to find a property to invest in. Our tool makes this task super easy. All you need to do is let our software know specifics like:
- Property Type
- Number of Bedrooms
- Number of Bathrooms
After you have entered these details, you will find all of the available units in the area of your interest that match your criteria. The Property Finder tool will show you top preforming rental properties in your desired area. This makes it easy for you to find your perfect investment property and saves you time so you don’t need to switch between different websites to look at all available properties.
The Real Estate Heatmap
If you are having trouble determining where to start looking for a property, our Real Estate Heatmap tool can help. This tool lets you find profitable neighborhoods with available properties that fit your desired budget. We conduct a neighborhood analysis within this tool to show you which neighborhoods meet your criteria and which ones do not. You can set the heatmap to highlight the area based on:
- Median Property Price
- Average Rental Income
- Average Occupancy Rate
- Cash on Cash Return
The Investment Property Calculator
One of the tools that make us the top property website is our Investment Property Calculator. It is one of the most useful tools we provide for our users. Keeping track of real estate data can be difficult. Rather than having spreadsheets with information you don’t understand, our Investment Property Calculator keeps track of the data for you. We fine-tune all of the costs you will need to consider during your investment to show you how much of a profit you will make. Some of the calculated numbers we provide you in this tool are:
- Interest Rate
- Property Tax
- Maintenance and Rehab
Aside from possible costs to consider within the budget of your investment, this tool offers a comprehensive rental strategy. Basically, this means we show you the metrics of how your property will perform as a rental or as a traditional. This helps you determine if it will be a profitable investment. The metrics we provide are:
- Cash on Cash Return
- Cap Rate
- Cash Flow
- Occupancy Rate
- Rental Income
This tool is also referred to as the Airbnb Calculator.
How Much Does Mashvisor Cost?
We are a great PropStream alternative as we offer many more tools and services for a lower price. For Mashvisor pricing, our most basic version will cost you $17.99 a month and is a good option for analyzing individual investment properties. Our next option is our standard plan which will cost $49.99 a month. The standard plan is best for users looking for new investment opportunities. Our last option, the Professional plan will cost $79.99 a month and will allow you to access all of our tools and services.
Mahvisor’s professional plan, with complete access to everything we have to offer costs less than PropStreams basic plan. PropStream will cost you $99 a month and that doesn’t even include the add-ons you will need to purchase after you register for the website. We recognize that our investors what to generate the most profit on their investments, so we offer all of our reliable tools at an affordable price.
To Recap: What Is the Best PropStream Alternative?
If you’re asking yourself how to invest in real estate you should have learned from this article data is the most important aspect to consider. No matter what kind of investment you are looking for, whether it be an apartment, traditional home, or duplex for sale, you need to look at the real estate data to determine how profitable that property can be. Though PropStream offers some useful data, it is presented to users all at once which can get confusing. Mashvisor offers our data in a way that is easy to understand. We also offer many more tools to help you with all aspects of investing.
Mashvisor is the best PropStream alternative. To access our real estate investment tools, click here to sign up for a 7-day free trial of Mashvisor today, followed by 15% off for life.