MMX Group/10811 Richmond Ave #72, Houston, TX 77042
Flip-67.8%✗
HM→DSCR0.959x✗
Cash→DSCR0.959x✗
New Deal

10811 Richmond Ave #72, Houston, TX 77042

1bd / 1ba · 822 sqft · built 1983 · Condo/TownhomeAnalyzed Jul 10, 2026
Flip ROI
-67.8%
FAIL
−$12,545 loss
6-mo hold · profit ÷ cash out
DSCR — 75% LTV
0.959x
FAIL
cash-out refi · NOI / debt service
DSCR — No Cash-Out
0.959x
FAIL
75.0% LTV · capped, short $12,550
Max Bid @ 20%
$75,753
FAIL
✗ $13,247 over max
Total Invested
$18,495
down + points + costs + holding, pre-refi
Cash Left in Deal
$31,045
after HM → DSCR cash-out refi
Value Generated
$11,000
ARV − purchase − rehab (instant equity)
Starting Equity %
25.0%
ARV − DSCR loan ÷ ARV, day 1 post-refi
$
$
$
$
$
$
Scenario 1 — Flip
Hard money loan · sell at ARV after rehab
❌
FAILS FLIP
Min 20% ROI · 6-mo hold
-67.8%
Flip ROI
Cash to First Close
$11,400
what you bring day 1
Net Profit
−$12,545
Max Bid @ 20%
$75,753
−$12,545 profit  ÷  $18,495 total invested  =  -67.8%
Acquisition Event — First Close
Hard Money Loan — 9.5% Interest-Only
Loan Amount
$84,550
Purchase (95% LTV)
$84,550
Loan-to-ARV
84.5%
Monthly Interest
$669/mo
Down Payment5% of $89,000 purchase
$4,450
+
Origination Fee2 pts on $84,550 loan
$2,500
+
Closing Costs5% of purchase
$4,450
=
Cash to First Close
$11,400
Holding Period — 6 Months
HML Interest9.5% IO · $669/mo × 6$4,016
Property Taxes$179/mo × 6$1,074
Insurance$74/mo × 6$445
HOA$260/mo × 6$1,560
Total Holding Costs$7,095
Sale Event — Second Close
Sale Price (ARV)
$100,000
−
HML Principal Payofffull IO loan balance
$84,550
−
Closing Costs3.5% of sale price
$3,500
−
Realtor Commission6% of sale price
$6,000
=
Net Proceeds to You
$5,950
Deal Summary
Net Proceeds at Closing
$5,950
−
Cash to First Close
$11,400
−
Holding Costs (6 mo)
$7,095
=
NET PROFIT
−$12,545
Max Bid by ROI Target
ROIMax Bidvs Offer
10%$77,112−$11,888
15%$76,428−$12,572
20% ←$75,753−$13,247
25%$75,088−$13,912
30%$74,433−$14,567
Scenario 2 — HM→DSCR
Hard money @ 9.5% IO → DSCR refi · 75% ARV · 6.5% / 30yr
❌
FAILS DSCR
Min 1.30x · 6.5% / 30-yr DSCR · 75% of ARV
0.959x
DSCR
Monthly Cash Flow
−$19/mo
Cash-on-Cash Yr 1
-0.7%
$31,045 left in deal
Acquisition Event — First Close
Hard Money Loan — 9.5% Interest-Only
Loan Amount
$84,550
Purchase (95% LTV)
$84,550
Loan-to-ARV
84.5%
Monthly Interest
$669/mo
Down Payment5% of $89,000 purchase
$4,450
+
Origination Fee2 pts on $84,550 loan
$2,500
+
Closing Costs5% of purchase
$4,450
=
Cash to First Close
$11,400
Holding Period — 6 Months
HML Interest9.5% IO · $669/mo × 6$4,016
Property Taxes$179/mo × 6$1,074
Insurance$74/mo × 6$445
HOA$260/mo × 6$1,560
Total Holding Costs$7,095
DSCR Refinance — Second Close
DSCR Loan Proceeds75% of ARV · 6.5% / 30yr
$75,000
−
HML Principal Payofffull IO loan balance
$84,550
−
Origination Fee2 pts on $75,000
$1,500
−
Closing Coststitle / appraisal / escrow
$1,500
=
Cash to Bring to Close
−$12,550
Deal Summary
Cash to First Close
$11,400
+
Holding Costs (6 mo)
$7,095
−
Cash to Bring at Refi
+$12,550
=
Capital Left in Deal
$31,045
Equity Position — Day 1 Post-Refi
ARV
$100,000
−
DSCR Loan Balance
$75,000
=
Equity in Property
$25,000 (25.0%)
−
Capital Left in Deal
$31,045
=
Value Created
−$6,045
$25,000 equity on $31,045 deployed = 0.8× equity leverage
Monthly Income & Expenses — Post-DSCR
Gross Rent
$1,100
−
Property Taxes
$179
−
Insurance
$74
−
Maintenance (6% rent)
$66
−
Management (6% rent)
$66
−
HOA
$260
=
OpEx Subtotal
$645
=
Net Operating Income
$455
−
DSCR P&I
$474/mo
=
Net Cash Flow
−$19/mo
DSCR Ratios — Cash-Out vs No Cash-Out
Cash-Out Refi
75% of ARV — full LTV
Loan Amount$75,000
Monthly P&I$474/mo
Net Cash Flow−$19/mo
Cash Still Required−$12,550
DSCR
0.959x✗ Fail
Lender DSCR
1.114x✓ Pass
No Cash-Out
75.0% LTV — capped short $12,550
Loan Amount$75,000
Monthly P&I$474/mo
Net Cash Flow−$19/mo
Cash Still Required−$12,550
DSCR
0.959x✗ Fail
Lender DSCR
1.114x✓ Pass
Required Rent by DSCR Target
TargetRent Neededvs Current
1.00x$1,122/mo+$22 needed
1.10x$1,176/mo+$76 needed
1.20x$1,230/mo+$130 needed
1.30x ←$1,283/mo+$183 needed
1.40x$1,337/mo+$237 needed
Scenario 3 — Cash→DSCR
All-cash purchase → DSCR refi · 75% ARV · 6.5% / 30yr
❌
FAILS DSCR
Min 1.30x · 6.5% / 30-yr DSCR · 75% of ARV
0.959x
DSCR
Monthly Cash Flow
−$19/mo
Cash-on-Cash Yr 1
-0.9%
$24,529 left in deal
Acquisition Event — First Close
Purchase Price
$89,000
+
Closing Costs5% of purchase
$4,450
=
Total Cash to First Close
$93,450
Holding Period — 6 Months
Property Taxes$179/mo × 6$1,074
Insurance$74/mo × 6$445
HOA$260/mo × 6$1,560
Total Holding Costs$3,079
DSCR Refinance — Second Close
DSCR Loan Proceeds75% of ARV · 6.5% / 30yr
$75,000
−
Origination Fee2 pts on $75,000
$1,500
−
Closing Coststitle / appraisal / escrow
$1,500
=
Net Cash Recovered
$72,000
Deal Summary
Total Cash to First Close
$93,450
+
Holding Costs (6 mo)
$3,079
−
Net Cash Recovered at Refi
$72,000
=
Capital Left in Deal
$24,529
Equity Position — Day 1 Post-Refi
ARV
$100,000
−
DSCR Loan Balance
$75,000
=
Equity in Property
$25,000 (25.0%)
−
Capital Left in Deal
$24,529
=
Value Created
$471
$25,000 equity on $24,529 deployed = 1.0× equity leverage
Monthly Income & Expenses — Post-DSCR
Gross Rent
$1,100
−
Property Taxes
$179
−
Insurance
$74
−
Maintenance (6% rent)
$66
−
Management (6% rent)
$66
−
HOA
$260
=
OpEx Subtotal
$645
=
Net Operating Income
$455
−
DSCR P&I
$474/mo
=
Net Cash Flow
−$19/mo
DSCR Ratios — Cash-Out vs No Cash-Out
Cash-Out Refi
75% of ARV — full LTV
Loan Amount$75,000
Monthly P&I$474/mo
Net Cash Flow−$19/mo
Cash Still Required−$24,529
DSCR
0.959x✗ Fail
Lender DSCR
1.114x✓ Pass
No Cash-Out
75.0% LTV — capped short $24,529
Loan Amount$75,000
Monthly P&I$474/mo
Net Cash Flow−$19/mo
Cash Still Required−$24,529
DSCR
0.959x✗ Fail
Lender DSCR
1.114x✓ Pass
Required Rent by DSCR Target
TargetRent Neededvs Current
1.00x$1,122/mo+$22 needed
1.10x$1,176/mo+$76 needed
1.20x$1,230/mo+$130 needed
1.30x ←$1,283/mo+$183 needed
1.40x$1,337/mo+$237 needed
30-Year Hold Projection
Click to expand
DSCR loan $75,000 @ 6.5% · 3% rent growth · Via Hard Money · Via All Cash (same DSCR loan)