10338 Fleming Dr, Houston, TX 77013
3bd / 1ba · 972 sqft · built 1957 · Single Family (SFR)Analyzed Jun 16, 2026$
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Scenario 1 — Flip
Hard money loan · sell at ARV after rehab
✅
PASSES FLIP
Min 20% ROI · 6-mo hold
179.9%
Flip ROI
Cash to First Close
$8,495
what you bring day 1
Net Profit
$38,566
Max Bid @ 20%
$91,353
$38,566 profit ÷ $21,432 total invested = 179.9%
Acquisition Event — First Close
Hard Money Loan — 9.99% Interest-Only
Loan Amount
$111,953
Purchase (95% LTV)
$56,953
Rehab (100%)
$55,000
Loan-to-ARV
58.9%
Monthly Interest
$932/mo
Down Payment5% of $59,950 purchase
$2,998+
Origination Fee1 pts on $111,953 loan
$2,500+
Closing Costs5% of purchase
$2,998=
Cash to First Close
$8,495Holding Period — 6 Months
HML Interest9.99% IO · $932/mo × 6$5,592
Property Taxes$212/mo × 6$1,270
Insurance$96/mo × 6$575
Total Holding Costs$7,437
Contingency Reserve10% of rehab — held, not at first close$5,500
Sale Event — Second Close
Sale Price (ARV)
$190,000−
HML Principal Payofffull IO loan balance
$111,953−
Closing Costs3.5% of sale price
$6,650−
Realtor Commission6% of sale price
$11,400=
Net Proceeds to You
$59,998Deal Summary
Net Proceeds at Closing
$59,998−
Cash to First Close
$8,495−
Holding Costs (6 mo)
$7,437−
Contingency Reserve
$5,500=
NET PROFIT
$38,566Max Bid by ROI Target
| ROI | Max Bid | vs Offer |
|---|---|---|
| 10% | $93,581 | ✓ ok |
| 15% | $92,459 | ✓ ok |
| 20% ← | $91,353 | ✓ ok |
| 25% | $90,263 | ✓ ok |
| 30% | $89,187 | ✓ ok |
Scenario 2 — HM→DSCR
Hard money @ 9.99% IO → DSCR refi · 75% ARV · 7.1% / 30yr
❌
FAILS DSCR
Min 1.30x · 7.1% / 30-yr DSCR · 75% of ARV
1.067x
DSCR
Monthly Cash Flow
$64/mo
Cash-on-Cash Yr 1
N/A
−$9,799 left in deal
Acquisition Event — First Close
Hard Money Loan — 9.99% Interest-Only
Loan Amount
$111,953
Purchase (95% LTV)
$56,953
Rehab (100%)
$55,000
Loan-to-ARV
58.9%
Monthly Interest
$932/mo
Down Payment5% of $59,950 purchase
$2,998+
Origination Fee1 pts on $111,953 loan
$2,500+
Closing Costs5% of purchase
$2,998=
Cash to First Close
$8,495Holding Period — 2 Months
HML Interest9.99% IO · $932/mo × 2$1,864
Property Taxes$212/mo × 2$423
Insurance$96/mo × 2$192
Total Holding Costs$2,479
Contingency Reserve10% of rehab — held, not at first close$5,500
DSCR Refinance — Second Close
DSCR Loan Proceeds75% of ARV · 7.1% / 30yr
$142,500−
HML Principal Payofffull IO loan balance
$111,953−
Origination Fee1 pts on $142,500
$1,425−
Closing Coststitle / appraisal / escrow
$2,850=
Cash Back to You
+$26,273Deal Summary
Cash to First Close
$8,495+
Holding Costs (2 mo)
$2,479+
Contingency Reserve
$5,500−
Cash Back at Refi
−$26,273=
Capital Left in Deal
−$9,799Equity Position — Day 1 Post-Refi
ARV
$190,000−
DSCR Loan Balance
$142,500=
Equity in Property
$47,500 (25.0%)−
Capital Left in Deal
−$9,799=
Value Created
$57,299Monthly Income & Expenses — Post-DSCR
Gross Rent
$1,510−
Property Taxes
$212−
Insurance
$96−
Maintenance (6% rent)
$91−
Management (6% rent)
$91=
OpEx Subtotal
$489=
Net Operating Income
$1,021−
DSCR P&I
$958/mo=
Net Cash Flow
$64/moDSCR Ratios — Cash-Out vs No Cash-Out
Cash-Out Refi
75% of ARV — full LTV
Loan Amount$142,500
Monthly P&I$958/mo
Net Cash Flow$64/mo
Cash Back at Refi+$26,273
DSCR
1.067x✗ Fail
Lender DSCR
1.194x✓ Pass
No Cash-Out
60.7% LTV — breakeven refi
Loan Amount$115,415
Monthly P&I$776/mo
Net Cash Flow$246/mo
Cash Back at Refi+$0
DSCR
1.317x✓ Pass
Lender DSCR
1.394x✓ Pass
Required Rent by DSCR Target
| Target | Rent Needed | vs Current |
|---|---|---|
| 1.00x | $1,438/mo | ✓ met |
| 1.10x | $1,546/mo | +$36 needed |
| 1.20x | $1,655/mo | +$145 needed |
| 1.30x ← | $1,764/mo | +$254 needed |
| 1.40x | $1,873/mo | +$363 needed |
Scenario 3 — Cash→DSCR
All-cash purchase → DSCR refi · 75% ARV · 7.1% / 30yr
❌
FAILS DSCR
Min 1.30x · 7.1% / 30-yr DSCR · 75% of ARV
1.067x
DSCR
Monthly Cash Flow
$64/mo
Cash-on-Cash Yr 1
N/A
−$14,163 left in deal
Acquisition Event — First Close
Purchase Price
$59,950+
Rehab Budget
$55,000+
Closing Costs5% of purchase
$2,998=
Total Cash to First Close
$117,948Holding Period — 2 Months
Property Taxes$212/mo × 2$423
Insurance$96/mo × 2$192
Total Holding Costs$615
Contingency Reserve10% of rehab — held, not at first close$5,500
DSCR Refinance — Second Close
DSCR Loan Proceeds75% of ARV · 7.1% / 30yr
$142,500−
Origination Fee1 pts on $142,500
$1,425−
Closing Coststitle / appraisal / escrow
$2,850=
Net Cash Recovered
$138,225Deal Summary
Total Cash to First Close
$117,948+
Holding Costs (2 mo)
$615+
Contingency Reserve
$5,500−
Net Cash Recovered at Refi
$138,225=
Capital Left in Deal
−$14,163Equity Position — Day 1 Post-Refi
ARV
$190,000−
DSCR Loan Balance
$142,500=
Equity in Property
$47,500 (25.0%)−
Capital Left in Deal
−$14,163=
Value Created
$61,663Monthly Income & Expenses — Post-DSCR
Gross Rent
$1,510−
Property Taxes
$212−
Insurance
$96−
Maintenance (6% rent)
$91−
Management (6% rent)
$91=
OpEx Subtotal
$489=
Net Operating Income
$1,021−
DSCR P&I
$958/mo=
Net Cash Flow
$64/moDSCR Ratios — Cash-Out vs No Cash-Out
Cash-Out Refi
75% of ARV — full LTV
Loan Amount$142,500
Monthly P&I$958/mo
Net Cash Flow$64/mo
Cash Back at Refi+$14,163
DSCR
1.067x✗ Fail
Lender DSCR
1.194x✓ Pass
No Cash-Out
67.3% LTV — breakeven refi
Loan Amount$127,899
Monthly P&I$860/mo
Net Cash Flow$162/mo
Cash Back at Refi+$0
DSCR
1.188x✗ Fail
Lender DSCR
1.294x✓ Pass
Required Rent by DSCR Target
| Target | Rent Needed | vs Current |
|---|---|---|
| 1.00x | $1,438/mo | ✓ met |
| 1.10x | $1,546/mo | +$36 needed |
| 1.20x | $1,655/mo | +$145 needed |
| 1.30x ← | $1,764/mo | +$254 needed |
| 1.40x | $1,873/mo | +$363 needed |