Apers vs Altyst: Which Is Better in 2026?

Our Verdict

Apers and Altyst both promise to go from a stack of deal documents to a finished underwriting model and memo in minutes, and both publish entry prices under $25 a month. They differ in where the model lives and how much of the deal structure library they cover.

Apers is built around Excel. Its document engine reads OMs, rent rolls, T-12s, appraisals, ARGUS exports, tax returns, broker packages and even scanned or handwritten notes, and you can forward emails straight into it. Its XL-2 engine writes formula-based Excel workbooks with each formula traced to its source, drawing on a model library that covers acquisitions, development, value-add, 4% and 9% LIHTC, historic tax credits, NNN, ground leases, sale-leasebacks, mezzanine and preferred equity, bridge loans and debt sizing. That library is the main reason to pick it: few tools in this price range model affordable housing tax credits or ground leases out of the box. Basic is $19 a month for 100 credits and is pitched at students and hobbyists, Pro is $99 a month for 1,000 credits, and Enterprise is custom. The caveats: usage is credit-based, its security page says it is not SOC 2 certified, and the site does not state whether calculations are deterministic.

Altyst keeps the model in the browser and exports it. AI handles extraction and flags conflicts between documents with confidence levels and provenance, while tested code, not a language model, does the math. It sizes debt on LTV, DSCR or debt yield, models lease rollovers with TI, runs base, upside and downside cases and exports an Excel workbook with live formulas, a PDF memo and an editable deck. Plans start at $12 a month for five deals, with $24 and $99 tiers. The caveats: it does not advertise tax credit or ground lease templates, scenario outputs export as values, it also holds no SOC 2, and it is a young product with little public track record.

Both are early-stage companies. Apers names two clients in case studies; Altyst names none. Either is cheap enough to test on a live deal before committing.

Choose Apers if your team lives in Excel and you underwrite specialist structures such as LIHTC, historic tax credit, ground lease or sale-leaseback deals. Choose Altyst if you want a deterministic model you can edit live in the browser, with memo and deck outputs, at the lowest monthly cost.