A PropertyMetrics Alternative That Reads the Deal First
PMX Proforma is a serious modelling tool — and it starts after you have already got the rent roll into a spreadsheet. DealWise starts a step earlier: drop in the leases and the offering memorandum, and it builds the model itself, then tells you what it thinks.
The short version
PropertyMetrics built PMX Proforma for people who already have the numbers. Lease-by-lease cash flow, recoveries and market leasing, DCF and sensitivity, debt sizing, partnership waterfalls, development costs and loan draws — it is a real modelling product, it is browser-based, and it publishes its price, which in this market is rarer than it should be.
The rent roll goes in through a pre-formatted Excel template you paste into and upload. That is the design, and for a team that already keeps its rent rolls in a spreadsheet it is a perfectly good one.
DealWise is built around the step before that. You drop in the actual documents — the leases, the amendments, the offering memorandum, the T-12 — and it reads them into a suite-by-suite rent roll, models every month of the hold, and finishes with a buy, hold or pass and the clause it came from. There is no template to fill in, because the filling in is the work being removed.
DealWise AI vs. PropertyMetrics
Every row on both sides read off their own site.
| Capability | DealWise AI | PropertyMetrics |
|---|---|---|
| How the rent roll gets in | Drop the leases — it reads them | Paste into an Excel template |
| AI buy / hold / pass verdict | Yes | No |
| Free plan | Yes | No |
| Free trial | Free plan, no card | 7 days, no demo |
| Lease-by-lease cash flow | Yes | Yes |
| DCF & sensitivity analysis | Yes | Yes |
| Branded PDF & Excel output | Yes | Yes |
| Partnership waterfalls | No | Yes |
| Development costs & loan draws | No | Yes |
| Imports ARGUS exports | No | Yes |
Where DealWise AI pulls ahead
Four differences, and the first one causes the rest.
The documents are the input
PropertyMetrics takes a rent roll the way a spreadsheet does: you paste tenant rows into a pre-formatted Excel template and upload it. DealWise takes the lease. Drop in the PDF stack — leases, amendments, the offering memorandum, the T-12 — and it reads them into a suite-by-suite rent roll itself. The typing is the job it removes.
It ends in a decision
Both tools will produce a model. Only one of them tells you what it thinks. DealWise finishes with a buy, hold or pass and the lease clause or line item it got that from, so the recommendation is something you can interrogate rather than accept. PropertyMetrics makes no claim to an opinion anywhere on its site — it is a modelling tool, deliberately.
Free, not a countdown
PropertyMetrics gives you seven days with no demo required, which is a fair offer and better than most of this market. DealWise gives you a free plan with no card and no clock. Run one deal on it or run it for a year — the rent roll, the cash flow and the AI verdict are all on the free plan.
Lease abstracts come out the other side
Because DealWise read the leases to build the model, it can hand them back abstracted — every suite as a spreadsheet, or as a PDF. That is a deliverable in its own right, and it is a by-product of the input method rather than a separate feature.
Where PropertyMetrics wins
Three things it does that DealWise does not. If one of them is your job, buy theirs.
Partnership waterfalls
PMX models partnership waterfalls and period-by-period distributions. DealWise does not. If you are splitting promote across hurdles and need the distribution schedule to come out right, that is their product and not ours.
Development and loan draws
Development costs, financing and loan draws are first-class in PMX. DealWise underwrites acquisitions of existing buildings; a ground-up budget with a draw schedule is outside what it models.
It reads ARGUS exports
If your world already runs on ARGUS and you want to keep those models moving, PMX imports the exports. DealWise does not, and that is a real reason to pick them.
Which one should you use?
Use PropertyMetrics if you are modelling a development, splitting promote through a waterfall, or moving ARGUS files around. Those are three real capabilities DealWise does not have, and no amount of AI makes up for a missing distribution schedule.
Use DealWise if the slow part of your week is turning a stack of PDFs into something you can model — and if you would rather the tool end with an opinion than a spreadsheet. The free plan has no card and no clock on it, so the honest way to settle this is to put a real deal through both.
PropertyMetrics alternative FAQ
Is DealWise AI a good PropertyMetrics alternative?
For acquisition underwriting, yes — and the difference is where the work starts. PropertyMetrics is a genuinely capable modelling tool: lease-by-lease cash flow, recoveries, market leasing, DCF and sensitivity, debt sizing, waterfalls. What it asks of you is a formatted rent roll. DealWise asks for the documents instead: drop in the leases and the offering memorandum and it builds the rent roll itself, then ends with a buy, hold or pass and the clause behind it. If your bottleneck is building the model, PMX is excellent. If your bottleneck is getting the deal into a model at all, that is the part DealWise removes.
What does PropertyMetrics do that DealWise doesn't?
Three things, plainly. Partnership waterfalls with period-by-period distributions. Development costs, financing and loan draws. And importing ARGUS exports. All three are on their pricing page and none of them are in DealWise. If any is central to your work, PropertyMetrics is the better tool and we would rather you knew that now.
Does PropertyMetrics use AI?
Not that they claim. AI is not mentioned on their pricing page or their product pages, and their rent roll workflow is an Excel template you fill in and upload. That is not a criticism — it is a different design. They built a modelling tool for people who already have the numbers. DealWise was built for the part before that, where the numbers are still inside a stack of PDFs.
How does the pricing compare?
PropertyMetrics publishes its pricing, which in this market is worth saying out loud — most of their competitors will not tell you a number without a sales call. They offer monthly, quarterly and annual billing with a 7-day free trial and no required demo. DealWise also publishes, and adds a free plan with no credit card and no time limit, so you can underwrite a real deal end to end before deciding anything.
Can I try DealWise AI for free?
Yes, and not on a countdown. The free plan needs no credit card and no demo call. You can build the rent roll from your documents, model the full hold, and get the AI buy, hold or pass verdict on it — then decide whether it is worth paying for.
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Stop typing the rent roll into a template.
Drop in the leases and the offering memorandum. DealWise reads them, builds the model, and tells you whether the deal is worth doing — free to start, no card, no demo.