Real estate math, without the sales pitch.
Caprately started from a simple frustration: almost every rental calculator online is built to make you feel good about buying. Punch in a listing and it cheers — great cash flow, strong returns, don't miss out. Meanwhile the honest answer, most of the time, is that the deal doesn't work.
Real estate investing rewards the people who can tell a good deal from a bad one quickly — and that comes down to underwriting: cash flow, cap rate, DSCR, break-even, a ten-year view. The trouble is that doing it right usually means a fragile spreadsheet, and doing it fast usually means a tool that hides its assumptions and rounds everything in the seller's favor.
So I built the version I wanted to use. Caprately runs the same math a lender or an institutional buyer would run, shows every formula behind every number, and says in dollars how far the asking price sits from one that would actually work — grounded in the figures, not in a marketing budget. When the answer is “walk away,” it says so.
The goal isn't to talk you into a property. It's to save you the hours and the heartbreak of chasing one that was never going to pencil — and to help you recognize the rare one that does.
What I believe
Honest before optimistic
Most deals don't pencil, and a tool that says otherwise is selling you something. Caprately will happily tell you a property is a bad idea — that's the whole point.
Show the math
Every number traces back to a formula you can open and check. No black box, no 'trust us' — the same institutional underwriting, in the open.
Yours to keep
No account required, your deals live in your own browser, and we don't sell your data. The free analysis stays free.
Who's behind it
Leo Aftandelian
Built Caprately · Economics at UC Irvine
I'm an economics student at UC Irvine, building toward a career in real estate. I made Caprately because every calculator I tried was designed to talk me into a property, and I wanted one that would run the numbers honestly and tell me when to walk away.
- Runs the same underwriting a lender would — cash flow, cap rate, DSCR, break-even occupancy, and a ten-year projection
- Prices property tax and insurance off each state's real rates, because nothing else on a rental swings harder by geography
- Shows the formula behind every number, and names the price this property would have to sell at before it works
Caprately is early, honest, and free while I build it out. If it helps you skip one bad deal — or find one good one — it's doing its job. Have a question, a bug, or a feature you wish it had? I'd genuinely like to hear it.
— Leo Aftandelian