Our PropStream reviews can help you understand how this software works, how much it costs, and whether it’s worth paying for a subscription.
As real estate investors, you need access to comprehensive real estate data and marketing solutions in order to succeed. Several tools like PropStream can help you find suitable properties to invest in. Make sure to check PropStream reviews to see if it’s the right tool for you or if there are other better options available in the market.
Table of contents
- What Is PropStream?
- PropStream Reviews: Features and Benefits
- PropStream Reviews: How Much the Software Costs
- How to Cancel PropStream Subscription
- Is It Worth Subscribing to PropStream?
- The Best PropStream Alternative in 2023
One of the best things about investing in real estate today is the availability of several investing tools that can help real estate investors succeed. In general, investing in real estate can be lucrative—but becoming successful in this venture involves a lot of hard work.
For starters, real estate investors need to conduct comprehensive research to help them make the right investment decision. Before buying a property to invest in, you should understand all the data related to the property to ensure that it can provide good returns. As investors, you also need to be updated with the real estate trends to ensure that you maximize your profitability.
Fortunately, with the availability of modern technology, investors can do these things more easily. Investors often use real estate investment software to find the best deals, boost sales, and generally grow their income from their investments.
There are different tools available online, and each software offers various services and benefits. In this article, we will cover one of the most popular online real estate investing software available in the market in 2023—PropStream.
What Is PropStream?
PropStream is an online real estate investment software that aims to provide real estate investors access to accurate, current, and reliable real estate data and tools. This software is ideal for real estate investors, house flippers, brokers, and agents who need to research and analyze both national and local real estate market data so they can meet their investment goals.
PropStream also aims to help those investors who want to know how to find off market properties without the need to leave the comfort of their homes or offices. With the use of PropStream, investors can find distressed properties without having to drive around the neighborhood.
PropStream markets itself as an online real estate data provider that gives access to multi-sourced data, powerful tools, and an intuitive interface. It claims to provide investors with the power to locate great deals and act on opportunities efficiently.
This real estate software can help investors find properties to invest in. It enables them to locate available listings within their target market. Investors can also create their own prospect listings using different criteria. In addition, PropStream can also help investors to identify property owners who are willing to sell their homes.
Aside from finding properties, PropStream also claims that it provides comprehensive information about the property as well as neighborhood trends and market insights. Moreover, investors can get an overview of the market values and possible profits from investing in a particular property.
PropStream can also help investors make informed decisions by providing access to real estate comps from MLS records. What’s more, PropStream also asserts that investors will find their marketing tools useful when it comes to finding leads, tracking marketing activities, and closing deals.
Related: Propstream—Best Real Estate Software in 2022?
PropStream Reviews: Features and Benefits
In 2023, many existing real estate investors are planning to grow their portfolio. And since real estate remains one of the hottest and best investment vehicles in 2023, we could also expect to see more new investors venturing into this type of investment. Fortunately, the availability of online real estate tools make this easier for both new and experienced real estate investors.
But what should an investor really look for when finding the right investment software to use? According to several PropStream reviews available online, PropStream software offers the tools investors need to grow their real estate business. PropStream provides an all-in-one solution to help investors manage their growing business.
Aside from the property search tool, PropStream reviews claim that the system’s real estate data and insights, as well as its marketing solutions, are really useful to investors. But is it really worth your money? Let’s take a look at some of the most important features and benefits of PropStream real estate software to find out.
Here are the features and services that PropStream offers:
According to PropStream’s website, the software provides nationwide data that are acquired from multiple sources. These sources include MLS listings, county recordings, and other private data sources. Based on various online PropStream reviews, this platform also gives investors access to a comprehensive database with over 153 million properties available.
Investors can get the details they need about the market by searching for their target property address across the United States. PropStream software also gives investors access to ownership information, property details, tax information, mortgage history, MLS details, neighborhood comps, and other information.
Are you wondering how to find distressed properties on the PropStream software? Several PropStream reviews tell us that its database allows investors to search for available properties using a wide range of criteria.
They can search by property types such as single-family, townhouse, and multi-family houses. They can also search by property usage, including residential, office, commercial, industrial, transportation, agricultural, recreational, and vacant land.
In addition, the property search can be extended to any address across the country. This is important for real estate investors who are also interested in investing in other areas besides their immediate covered location.
To search for a property on the PropStream software, investors can search on the platform’s map or use any of the following:
- Specific address
- APN or Assessor’s Parcel Number
- County, city, and zip code
- Parcel lines
- Drawing features
Investors can use a combination of over 120 search filters and criteria on the PropStream software to generate targeted leads and view a list of properties that meet their criteria. Based on PropStream reviews, the feature allows investors to search for different types of properties using their filters, and they’ll get notified when a new listing matches their criteria.
According to its website, the PropStream database includes several types of properties, including on- or off-market properties, pre-foreclosure filings, public auctions, and failed listings. Investors can also find foreclosed and bank-owned properties, vacant homes, non-owner occupied, zombie properties, and properties with tax liens, HOA liens, and mechanic’s liens.
Other notable filters that investors can use when searching for a potential investment property to buy are:
- Cash Buyers
- Senior Owners
- High Equity
- Mortgage and Interest Rates
- Divorce Filings
- Bankruptcy Filings
- Pre-Probate or Deceased Data
Related: The Ultimate Investment Property Search Tool
PropStream also provides comparable sales of similar properties within the investors’ chosen neighborhoods to help them determine the property’s actual value. Many PropStream reviews state that the software considers the average values of similar homes from the same neighborhood using data from several local multiple listing services and county records.
For investors asking themselves, “how to find comps in my area using PropStream?” They can choose the exact neighborhood and compare suitable properties that are similar to theirs using PropStream’s enhanced filters and drawing tools.
Among these filters include:
- County Recordings
- Comps Reports
- MLS Comparables
- Neighbor Information
- Flip Comparables
- Average Days on Market (DOM)
- Layout Management
Contact Property Owners
Investors who want to know how to find out who owns a house have used the PropStream software to reach the property owner directly. According to various PropStream reviews online, contacting the owners has helped them close more deals faster.
PropStream features a built-in Skip Tracing tool, which provides homeowner phone numbers and emails as well as mailing addresses. Along with its built-in postcard feature, investors will have the option to send a postcard and get in touch with the property owners quickly.
What Is PropStream’s Skip Tracing?
Skip Tracing is PropStream’s feature that helps investors to locate and reach out to property owners. When real estate investors skip trace a property, they will find the owner’s contact information, such as email addresses and telephone numbers.
According to PropStream reviews, PropStream’s skip tracing tool offers the following features:
- Coverage of 98% of the adult population in the US
- Contact information sourced from multiple industry providers
- Free DNC (do not call) flagging
- Chronologically organized phone numbers based on relevance
- Up to four results (including phone numbers and emails) for each contact category
- Only pay for skip traces with returned results
- Available on PropStream’s mobile app
PropStream also features List Automator, which automates leads for its users. Reviews said that this has saved them money and time as they were able to concentrate on closing deals. With List Automator, new leads that match investors’ search criteria will be automatically added to their list of leads while removing leads that no longer match their preferences.
For investors that have an old list that needs to be updated, the PropStream software allows them to import the list on the platform. According to its website, the software will then automatically refresh and update the list with up-to-date information.
Investors can engage with owners and generate leads that match their preferences using PropStream’s built-in marketing feature. The feature provides them with the option to send automated emails, voice mails, postcards, or snail mails, as well as create custom landing pages.
Users can also generate additional leads using the custom landing page feature, which is a self-hosted solution. With PropStream’s targeted marketing tool, investors can also create and manage lists with List Automator. They can also use it for skip tracing, managing contacts, creating marketing campaigns, designing postcards and mailing them, and adding status tags.
Build a Team
Investors can also add team members, such as an office employee or a virtual assistant. Plus, the software allows investors to customize the team member’s access based on what they need.
Through the PropStream’s platform, investors can build a team by adding team members and scouts, setting access permissions, and assigning properties. Investors can also collaborate with their team by accessing mobile and adding status tags.
Estimate Costs for Rehabilitation
House flippers found PropStream useful as well. Based on some PropStream reviews, the Rehab Estimator tool that comes with the software can give investors estimated labor and material costs of a rehab project. They just have to choose a project category and select a specific area for rehab to know how much they need to spend approximately for rehab.
Related: The #1 Real Estate Investment Calculator in 2022
Market Trends and Analytics
PropStream also provides market trends data and analytics so investors can see what the current market looks like. The feature allows them to quickly identify the next hot spots, like the best place to buy rental property if they plan to invest in long term or short term rentals. It includes heat maps, overlays, and other reporting tools to help investors analyze the market.
PropStream states that it allows investors access to several essential details, including rehab estimates, cash flow, analysis reports, comps reports, and complete market analysis reports.
Investors also have the option to purchase access to mortgage documents, property deeds, and county assessor’s maps.
Additionally, PropStream claims that it provides real estate analytics based on estimated value, rental values, price growth, and MLS statistics. Investors can also access neighborhood statistics such as monthly price or rent change, new listings, average days on market, and new sales and delinquencies.
Investors can access the PropStream platform through a mobile app. The app version of PropStream also offers all the same features as its web-based platform. These include access to property details, owner contact information, and property comps.
According to its website, the mobile feature also allows investors to set the app to Drive mode, allowing them to find a property, send a postcard, or run a skip trace while driving. The PropStream mobile app provides access to address search, Google Maps, geo-location, built-in marketing, favorites, session recording, drive history, and homeowner skip tracing.
PropStream Reviews: How Much the Software Costs
PropStream offers a seven-day free trial period so investors can test its features and see if the software suits their needs. This provides full access to PropStream except for the Team Members feature. After seven days, investors need to pay $99 per month if they wish to continue using the platform.
This standard package includes the following features:
- Online and mobile app
- 120+ lead filters
- Nationwide property data
- 10,000 property downloads/month
- County records and MLS comps
- Integrated marketing platform
It’s important to note that the above package does not include all the available features that PropStream offers. Aside from $99, investors also need to pay for add-ons if they want to use other features not included with the software’s basic package. What’s more, investors will be charged for in-app purchases if they want to access certain marketing tools.
Here is the list of available add-ons, including their corresponding prices and features:
- List Automator®, which starts at $27 additional per month. This add-on provides you access to daily list monitoring. It also allows investors to monitor up to 2,000 properties and list import and append capabilities. Plus, it charges $0.10 per property for skip tracing.
- Team Member, which starts at $20 additional per month. This add-on provides full access to PropStream and allows investors to add team members. It also provides managed permissions and access levels for up to five team members per account.
- Mobile Scout, which is a free feature. This provides access to Drive features. It also offers investors the ability to tag and share properties, as well as add up to 10 scouts per account.
Here is the list of marketing tools available for in-app purchases:
- Professional postcards: $0.40 each
- Skip tracing with DNC flagging: $0.12 each
- Emails: $0.02 each
How to Cancel PropStream Subscription
You may email the PropStream customer support team to cancel your subscription at any time. The company does not accept cancellation requests through the phone, in person, or via in-app chat. Keep in mind that there is also no “cancel my subscription” button found in its app.
If you decide not to pay for a subscription after the 7-day free trial period, make sure to cancel it via email before the free trial period ends so you will not be billed the monthly fee. Failure to do so may lead the platform to charge the standard fee on your account automatically.
Is It Worth Subscribing to PropStream?
While many PropStream reviews highlight the different features that the real estate investing software offers, we should not overlook the cost that comes with it. As a real estate investor, it’s important to ask yourself if it’s worth spending at least $99 per month to automate your investments—this is equivalent to $1,188 in annual expenses.
Furthermore, this cost does not include all the features that investors may need from a real estate investment software. To be able to take advantage of all the benefits of PropStream’s features, you may need to pay for add-ons, which will increase your overall cost. Eventually, the total cost can easily add up and will greatly affect your returns.
Before making a decision to spend this much money, it’s essential to analyze your needs first and research other available real estate investment software alternatives that cost less. Fortunately, there are other available real estate platforms in the market that offer similar or better features at a lower price.
The Best PropStream Alternative in 2023
The real estate market remains to be a good source of additional income in 2023 and beyond. With this, finding the best real estate analytics platform as an alternative to PropStream is essential, especially for those who are tight on budget but want to enjoy the same benefits. The good news is that we have the best PropStream alternative right here—Mashvisor.
Mashvisor is a real estate analytics platform that provides you access to its database, which contains a wide selection of property listings across the United States. Mashvisor does not only let you search for the best investment property in the area of your choice, but it also provides all the necessary information about the property to help you make an informed decision.
How Can Mashvisor Help Investors?
Mashvisor is an excellent real estate investing software and the best alternative to PropStream. It offers comprehensive real estate analytics to help you identify which properties will generate the highest returns based on your chosen criteria and investment goals. Plus, you can also compare the returns generated from both long term and short term rental strategies.
By using Mashvisor, you can optimize your rental income strategy through the following:
- Accurate and up-to-date real estate data: Mashvisor provides you with important data so you’ll know the exact potential income of all long term and short term rental properties in your preferred neighborhood.
- Comprehensive data analysis: You’ll also get access to in-depth data and competitive market analysis for both long term and short term rental properties. You can view necessary information, such as rental pricing, cap rate, occupancy rates, and seasonality trends.
- Interactive property analysis: Mashvisor also offers interactive property analysis through its investment property calculator, so you can instantly edit cost assumptions to fine-tune your analysis on every property profile. This way, you can customize the figures based on your expected expenses and financing option.
Mashvisor aims to help real estate investors learn how to get started in real estate investing by providing the necessary market insights, so they can:
- Define the highest-performing neighborhoods and maximize potential returns;
- Understand the neighborhood trends, analyze comparables, and know the accurate value of an investment property; and,
- Maximize your investment by using predictive analytics, so you’ll know the best combination of home attributes.
Mashvisor Features and Benefits
Mashvisor is best for both first-time and experienced real estate investors, as well as brokers, agents, and property managers. With three different plans that only cost $17.99, $49.99, and $74.99 per month, you’ll be able to access the Mashvisor database that covers thousands of properties and a number of tools to help you make the best out of your investments.
Mashvisor features the following:
Mashvisor allows you to search the right investment properties by simply entering the city or neighborhood of your choice. You can also filter your results based on your preferences, such as budget, property type and size, number of bedrooms and bathrooms, and rental income. You can also set the cash on cash return and cap rate figures to narrow down your search.
Rental Strategy Comparison
Mashvisor provides essential data and insights to help you calculate how much you’ll make on a long term rental or short term rental property. These include rental income, cash flow, cash on cash return, cap rate, occupancy rate, and monthly expenses.
Through this comparison, you will be able to see which rental strategy generates better returns, helping you decide which strategy is best for your chosen investment property.
Interactive Purchase Analysis and Investment Property Calculator
Mashvisor features interactive purchase analysis with an investment property calculator to make it easier for you to input your costs and view your potential returns. The tool also provides pre-calculated expenses such as interest rate, property tax, maintenance, insurance, and other fees. On top of that, the property’s one-time startup costs are included in the calculation.
The best thing about Mashvisor’s investment property calculator is that it allows you to input your own figures for the expenses and financing details. For instance, you may add an expense if you are planning to spend for additional property improvement.
Moreover, you can set your financing option to mortgage if you plan to take out a loan to purchase the property. You can then customize the down payment, loan amount, mortgage type, loan term, and interest rate. This way, you’ll be able to get a more accurate calculation based on your personal plans.
Personalize and Share the Property
With Mashvisor, you can also add your own notes and share the property report with a friend, colleague, or agent. This way, you can easily collaborate and share insights about the property that you are eyeing.
Mashvisor allows you to view nearby listings so you can compare your property to other properties. For example, if you are looking to buy a short term rental property, the analysis will include information like overall rating, occupancy rate, daily rate for short term rentals, ratings and reviews, rental income, and the number of bedrooms and bathrooms.
For every property that you’ll view, you’ll get access to the neighborhood analytics data. Here you will find the Mashmeter, which is a dynamic scoring method that helps predict the neighborhood market’s future investment return. On top of that, you’ll get access to rent analysis, which is the breakdown of property types in the neighborhood.
You will also find the historical rental income of rental comparables within the same neighborhood. By knowing this information, you’ll have an idea of how the property will perform by looking at the neighborhood comps’ rental income stats, occupancy rate stats, and average historical rental rate. Plus, you’ll have an overview of your possible future competitors.
Mashvisor will help you determine which real estate investment strategy would work best in a specific location. Try these features for free for seven days.
Using Real Estate Software Is Essential to Your Success
As a real estate investor, your investment should not only be limited to the property that you buy. In order to be successful in real estate investing, you also need to invest in other essential tools that can help you become profitable—and real estate investment software is one of them.
Based on our PropStream reviews, we have learned that the PropStream software offers several features that can help an investor make an informed investment decision. However, this software charges high fees for standard features that you can also find elsewhere without having to pay as much.
On top of the standard $99 monthly fee that PropStream charges, you also need to pay for additional tools and services should you need to access them. These fees could translate to higher expenses, which could easily add up and adversely affect your overall profitability.
If you don’t want to pay for high fees, there’s a better option for you. You can work with a real estate analytics platform like Mashvisor that offers the same (or even better) features to help you find the best investment property in your neighborhood of choice. Based on Mashvisor reviews, Mashvisor is the best alternative to PropStream.
With Mashvisor, you’ll only need to spend as low as $17.99, $49.99, or $74.99 per month, depending on the features that you need. The best thing about Mashvisor is that it doesn’t only help you find the best income property; it also helps you decide which investment strategy will work best for your chosen investment.
Learn more about Mashvisor’s features and how the software can help you become a successful investor. Start a free demo now.