The Modern Alternative to
ARGUS Enterprise

ARGUS Enterprise, owned by Altus Group, has been the institutional standard for commercial real estate cash flow modeling and asset valuation for over two decades. It provides detailed lease-by-lease modeling, discounted cash flow (DCF) analysis, and scenario planning capabilities that appraisers, underwriters, and institutional investors rely on for property valuation and investment analysis.

However, ARGUS comes with significant barriers that push many CRE professionals to seek alternatives. The per-seat licensing model typically runs $10,000-$15,000+ per year, with additional costs for training ($2,000+ per user), annual support contracts, and IT implementation. The software is Windows-only desktop software that requires managed licenses and periodic version updates — a model that feels increasingly outdated in a cloud-first industry.

The core limitation driving the search for ARGUS alternatives is manual data entry. Every lease term, every expense line, every assumption must be input by hand. For acquisition teams evaluating dozens of deals per month, this means analysts spend the majority of their time on data entry rather than deal judgment and investment analysis.

How CRELYTIC Engine Solves These Problems

CRELYTIC Engine takes a fundamentally different approach to CRE underwriting. Instead of requiring manual data entry, the platform uses AI to parse source documents — rent rolls, trailing twelve-month operating statements (T12s), and Offering Memorandums (OMs) — and automatically extract all relevant financial data. This extracted data flows directly into a complete DCF model with 10-year cash flow projections, rent escalations, expense growth assumptions, lease turnover modeling, and debt service calculations.

The platform generates sensitivity analysis tables, LP/GP waterfall distributions, risk scoring, and institutional-quality investment memos — all from a single document upload. Plans start at $6.99/month (Starter, 5 deals/month), $11.99/month (Pro, 25 deals/month), or $20/month (Unlimited). There is no per-seat licensing, no training requirement, and the entire platform runs in any web browser.

Beyond Underwriting: The Full CRELYTIC Platform

Unlike ARGUS, which focuses solely on asset valuation and cash flow modeling, CRELYTIC offers a full suite of 10 commercial real estate tools including property performance dashboards, fund-level portfolio reporting, ESG energy tracking, cash management, debt portfolio monitoring, a free waterfall calculator, a free defeasance calculator, lease analysis, and real-time market intelligence with Treasury rates and lending spreads. Most of these tools are free to use with no signup required.