109 Dorado Dr, Friendswood, TX 77546
2,275 sqft · built 1978 · Single Family (SFR)Analyzed Jul 6, 2026$
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Scenario 1 — Flip
Hard money loan · sell at ARV after rehab
❌
FAILS FLIP
Min 20% ROI · 6-mo hold
-7.9%
Flip ROI
Cash to First Close
$26,780
what you bring day 1
Net Profit
−$4,022
Max Bid @ 20%
$227,585
−$4,022 profit ÷ $50,918 total invested = -7.9%
Acquisition Event — First Close
Hard Money Loan — 9.99% Interest-Only
Loan Amount
$277,999
Purchase (95% LTV)
$227,999
Rehab (100%)
$50,000
Loan-to-ARV
77.4%
Monthly Interest
$2,314/mo
Down Payment5% of $239,999 purchase
$12,000+
Origination Fee1 pts on $277,999 loan
$2,780+
Closing Costs5% of purchase
$12,000=
Cash to First Close
$26,780Holding Period — 6 Months
HML Interest9.99% IO · $2,314/mo × 6$13,886
Property Taxes$634/mo × 6$3,803
Insurance$242/mo × 6$1,450
Total Holding Costs$19,139
Contingency Reserve10% of rehab — held, not at first close$5,000
Sale Event — Second Close
Sale Price (ARV)
$359,000−
HML Principal Payofffull IO loan balance
$277,999−
Closing Costs3.5% of sale price
$12,565−
Realtor Commission6% of sale price
$21,540=
Net Proceeds to You
$46,896Deal Summary
Net Proceeds at Closing
$46,896−
Cash to First Close
$26,780−
Holding Costs (6 mo)
$19,139−
Contingency Reserve
$5,000=
NET PROFIT
−$4,022Max Bid by ROI Target
| ROI | Max Bid | vs Offer |
|---|---|---|
| 10% | $231,920 | −$8,079 |
| 15% | $229,737 | −$10,262 |
| 20% ← | $227,585 | −$12,414 |
| 25% | $225,463 | −$14,536 |
| 30% | $223,370 | −$16,629 |
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
0.922x
DSCR
Monthly Cash Flow
−$141/mo
Cash-on-Cash Yr 1
-3.1%
$54,986 left in deal
Acquisition Event — First Close
Hard Money Loan — 9.99% Interest-Only
Loan Amount
$277,999
Purchase (95% LTV)
$227,999
Rehab (100%)
$50,000
Loan-to-ARV
77.4%
Monthly Interest
$2,314/mo
Down Payment5% of $239,999 purchase
$12,000+
Origination Fee1 pts on $277,999 loan
$2,780+
Closing Costs5% of purchase
$12,000=
Cash to First Close
$26,780Holding Period — 2 Months
HML Interest9.99% IO · $2,314/mo × 2$4,629
Property Taxes$634/mo × 2$1,268
Insurance$242/mo × 2$483
Total Holding Costs$6,380
Contingency Reserve10% of rehab — held, not at first close$5,000
DSCR Refinance — Second Close
DSCR Loan Proceeds75% of ARV · 7.1% / 30yr
$269,250−
HML Principal Payofffull IO loan balance
$277,999−
Origination Fee1 pts on $269,250
$2,693−
Closing Coststitle / appraisal / escrow
$5,385=
Cash to Bring to Close
−$16,827Deal Summary
Cash to First Close
$26,780+
Holding Costs (2 mo)
$6,380+
Contingency Reserve
$5,000−
Cash to Bring at Refi
+$16,827=
Capital Left in Deal
$54,986Equity Position — Day 1 Post-Refi
ARV
$359,000−
DSCR Loan Balance
$269,250=
Equity in Property
$89,750 (25.0%)−
Capital Left in Deal
$54,986=
Value Created
$34,764$89,750 equity on $54,986 deployed = 1.6× equity leverage
Monthly Income & Expenses — Post-DSCR
Gross Rent
$2,891−
Property Taxes
$634−
Insurance
$242−
Maintenance (6% rent)
$173−
Management (6% rent)
$173=
OpEx Subtotal
$1,222=
Net Operating Income
$1,669−
DSCR P&I
$1,809/mo=
Net Cash Flow
−$141/moDSCR Ratios — Cash-Out vs No Cash-Out
Cash-Out Refi
75% of ARV — full LTV
Loan Amount$269,250
Monthly P&I$1,809/mo
Net Cash Flow−$141/mo
Cash Still Required−$16,827
DSCR
0.922x✗ Fail
Lender DSCR
1.077x✓ Pass
No Cash-Out
75.0% LTV — capped short $16,827
Loan Amount$269,250
Monthly P&I$1,809/mo
Net Cash Flow−$141/mo
Cash Still Required−$16,827
DSCR
0.922x✗ Fail
Lender DSCR
1.077x✓ Pass
Required Rent by DSCR Target
| Target | Rent Needed | vs Current |
|---|---|---|
| 1.00x | $3,051/mo | +$160 needed |
| 1.10x | $3,257/mo | +$366 needed |
| 1.20x | $3,462/mo | +$571 needed |
| 1.30x ← | $3,668/mo | +$777 needed |
| 1.40x | $3,873/mo | +$982 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
0.922x
DSCR
Monthly Cash Flow
−$141/mo
Cash-on-Cash Yr 1
-3.6%
$47,577 left in deal
Acquisition Event — First Close
Purchase Price
$239,999+
Rehab Budget
$50,000+
Closing Costs5% of purchase
$12,000=
Total Cash to First Close
$301,999Holding Period — 2 Months
Property Taxes$634/mo × 2$1,268
Insurance$242/mo × 2$483
Total Holding Costs$1,751
Contingency Reserve10% of rehab — held, not at first close$5,000
DSCR Refinance — Second Close
DSCR Loan Proceeds75% of ARV · 7.1% / 30yr
$269,250−
Origination Fee1 pts on $269,250
$2,693−
Closing Coststitle / appraisal / escrow
$5,385=
Net Cash Recovered
$261,173Deal Summary
Total Cash to First Close
$301,999+
Holding Costs (2 mo)
$1,751+
Contingency Reserve
$5,000−
Net Cash Recovered at Refi
$261,173=
Capital Left in Deal
$47,577Equity Position — Day 1 Post-Refi
ARV
$359,000−
DSCR Loan Balance
$269,250=
Equity in Property
$89,750 (25.0%)−
Capital Left in Deal
$47,577=
Value Created
$42,173$89,750 equity on $47,577 deployed = 1.9× equity leverage
Monthly Income & Expenses — Post-DSCR
Gross Rent
$2,891−
Property Taxes
$634−
Insurance
$242−
Maintenance (6% rent)
$173−
Management (6% rent)
$173=
OpEx Subtotal
$1,222=
Net Operating Income
$1,669−
DSCR P&I
$1,809/mo=
Net Cash Flow
−$141/moDSCR Ratios — Cash-Out vs No Cash-Out
Cash-Out Refi
75% of ARV — full LTV
Loan Amount$269,250
Monthly P&I$1,809/mo
Net Cash Flow−$141/mo
Cash Still Required−$47,577
DSCR
0.922x✗ Fail
Lender DSCR
1.077x✓ Pass
No Cash-Out
75.0% LTV — capped short $47,577
Loan Amount$269,250
Monthly P&I$1,809/mo
Net Cash Flow−$141/mo
Cash Still Required−$47,577
DSCR
0.922x✗ Fail
Lender DSCR
1.077x✓ Pass
Required Rent by DSCR Target
| Target | Rent Needed | vs Current |
|---|---|---|
| 1.00x | $3,051/mo | +$160 needed |
| 1.10x | $3,257/mo | +$366 needed |
| 1.20x | $3,462/mo | +$571 needed |
| 1.30x ← | $3,668/mo | +$777 needed |
| 1.40x | $3,873/mo | +$982 needed |