# AirDNA vs Mashvisor vs Underwrite: Which STR Tool is Right for You? > AirDNA gives you market data. Mashvisor estimates revenue. Underwrite tells you whether to buy. Here is the honest 3-way comparison. Canonical: https://www.underwriteapp.com/blog/airdna-vs-mashvisor-vs-underwrite When you start researching short-term rental investments, you quickly hit a wall of tools that all claim to help you find profitable properties. AirDNA and Mashvisor are the two names that come up most often. They're different products with different approaches — and neither one is built to answer the question you actually need answered before writing a check. That question is: **does this specific deal make financial sense, with my financing, at today's price?** Here's an honest breakdown of what each tool does, what it doesn't, and when to use which. --- ## What AirDNA Does (and Does Well) AirDNA is a market intelligence platform. It aggregates data from millions of Airbnb and VRBO listings to give you a clear picture of what properties earn in a given market. Core capabilities: - **Rentalizer** — enter any address, get a revenue estimate with comparable listings - **Market data** — ADR, occupancy rates, RevPAR, and demand trends across hundreds of markets - **Historical trends** — 36+ months of performance data to understand seasonality and growth - **Submarket analysis** — break down performance by neighborhood or zip code For market-level research, AirDNA is the most comprehensive tool in the industry. It's trusted by institutional operators, management companies, and serious investors who want to understand a market before placing a bet. **The limitation:** AirDNA is a data layer. It answers "what does this market look like?" and "what might this property earn?" — but it does not tell you whether those numbers justify a purchase. Building the financial model is on you. --- ## What Mashvisor Does (and Does Well) Mashvisor is a property analysis platform aimed at real estate investors. It combines short-term and long-term rental data with automated investment projections. Core capabilities: - **Investment property search** — browse for-sale properties with pre-calculated STR and LTR estimates overlaid - **Cash-on-cash return estimates** — automated projections based on assumed financing - **Neighborhood analysis** — compare investment potential across zip codes - **Heatmap view** — visual tool for identifying high-performing areas Mashvisor's strength is the browsing experience. It layers estimated returns on top of property listings, so you can filter by projected cash-on-cash return without building a model from scratch. **The limitation:** Mashvisor's projections are automated estimates, not true underwriting. The model uses broad assumptions — it doesn't know your actual loan terms or operating cost structure. The numbers are directional, not decision-ready. --- ## What Underwrite Does Differently Underwrite is built for deal-level investment analysis. It starts where both AirDNA and Mashvisor stop. You paste a Zillow or Redfin URL. Underwrite pulls revenue data (including AirDNA data as one of its inputs), runs it through a financial model calibrated for STR-specific cost structures, and produces a complete investment package: - **Financial model** — DCF analysis, cash-on-cash return, IRR, NOI, and DSCR built around your actual purchase price, down payment, and loan terms - **Market narrative** — a written thesis explaining *why* the numbers look the way they do, with demand drivers and risk factors - **Investor pitch deck** — formatted for lenders and LPs, with comp analysis and market context - **Renovation scope** — cost and scope estimates for value-add work, with renders Total time: under 15 minutes. Total cost: $79 per report — vs. $2,000–$5,000 from a consulting firm. --- ## Side-by-Side Comparison | Feature | Underwrite | AirDNA | Mashvisor | |---------|-----------|--------|-----------| | Revenue / occupancy estimate | ✅ | ✅ | ✅ | | Market comp analysis | ✅ | ✅✅ (deepest data) | ✅ | | 36-month demand history | Via AirDNA data | ✅ | Partial | | Property browsing / marketplace | ❌ | ✅ | ✅✅ | | Automated CoC/ROI estimates | ✅ (deal-level) | ❌ | ✅ (broad assumptions) | | Financial model (DCF, CoC, IRR) | ✅ | ❌ | ❌ | | Uses your actual loan terms | ✅ | ❌ | ❌ | | DSCR calculation | ✅ | ❌ | ❌ | | AI investment narrative | ✅ | ❌ | ❌ | | Investor pitch deck | ✅ | ❌ | ❌ | | Renovation scope + renders | ✅ | ❌ | ❌ | | Lender-ready PDF | ✅ | ❌ | ❌ | | Free tier | Quick Screen (no card) | Rentalizer (limited) | Trial (limited) | | Starting price | Free / $79 per report | ~$12–$299+/mo | ~$17–$74+/mo | --- ## When to Use AirDNA AirDNA is the right tool when: - **You're doing market research, not property-level analysis.** You want to understand demand trends, ADR seasonality, and which submarkets are outperforming. - **You need the deepest historical data.** AirDNA's 36-month trend data is unmatched for understanding how a market has evolved. - **You're screening markets before screening properties.** Use AirDNA to narrow your geography before you start running deal analyses. **Who AirDNA is best for:** Experienced operators and investors still deciding *where* to invest before picking *what* to buy. --- ## When to Use Mashvisor Mashvisor is the right tool when: - **You want to browse properties with estimated returns already attached.** Mashvisor's heatmaps and property search overlays save time in the browsing phase. - **You want a quick filter across a large set of listings.** Screening 200 properties by projected cash-on-cash return is faster in Mashvisor than pulling each one into a separate tool. - **You're early in the process** and want to identify which neighborhoods merit a deeper look. **Who Mashvisor is best for:** Investors in active search mode who want to narrow a large funnel before doing real underwriting. --- ## When to Use Underwrite Underwrite is the right tool when: - **You've found a specific property and need to decide whether to make an offer.** You have a Zillow or Redfin link and you need to know: does this deal actually pencil at this price, with your financing? - **You need to share your analysis with someone else.** A lender, an LP, a partner, or a spouse. Underwrite produces a document that looks professional, not a screenshot of a spreadsheet. - **You need a DSCR calculation.** DSCR lenders require a debt service coverage analysis. Underwrite builds it from your actual loan terms. - **You want a written verdict, not just numbers.** The AI market narrative explains *why* the numbers are what they are — which demand drivers support the revenue, which regulatory or supply risks to watch. **Who Underwrite is best for:** Active deal hunters who are past the browsing phase, first-time STR investors who want conviction before committing, and portfolio builders who need lender-ready documentation quickly. --- ## The Honest Take: Use All Three (At the Right Stage) These tools cover different stages of the investment process — they're not really competitors. A typical workflow: 1. **Use AirDNA** to identify markets with strong demand fundamentals — high ADR, growing occupancy, clear demand drivers 2. **Use Mashvisor** to browse for-sale properties in those markets and filter by estimated ROI 3. **Use Underwrite** to run a full investment analysis on your shortlist At that point, you're not guessing. You have a real financial model, a written thesis, and a pitch deck ready for your lender. --- ## The Honest Bottom Line | Question | Best tool | |---------|-----------| | What's the ADR and occupancy in Scottsdale right now? | AirDNA | | Which zip codes in Phoenix have the strongest STR ROI? | Mashvisor | | Should I buy this specific Scottsdale property at $680K? | Underwrite | | I want to browse listings sorted by projected cash-on-cash | Mashvisor | | I need a lender-ready DSCR analysis by Friday | Underwrite | | I'm comparing 5 markets before picking where to invest | AirDNA | | I found my deal and need to make a decision this week | Underwrite | AirDNA and Mashvisor are strong tools for the research and browsing phases. If you're trying to understand markets or identify properties worth a closer look, they earn their subscription. When you've found a deal you're seriously considering, that's when you need real underwriting — a financial model built on your actual numbers, with documentation you can hand to a lender. **[Run a free Quick Screen on any property →](/sign-up)** --- *AirDNA and Mashvisor pricing and feature data was last verified April 2026. Underwrite uses AirDNA data as one of several inputs in every analysis.*