11839 Sandpiper Dr, Houston, TX 77035
2bd / 2ba · 1,352 sqft · built 1981 · Single Family (SFR)Analyzed Jul 21, 2026$
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Scenario 1 — Flip
Hard money loan · sell at ARV after rehab
✅
PASSES FLIP
Min 20% ROI · 2-mo hold
70.5%
Flip ROI
Cash to First Close
$11,000
what you bring day 1
Net Profit
$12,010
Max Bid @ 20%
$93,590
$12,010 profit ÷ $17,040 total invested = 70.5%
Acquisition Event — First Close
Hard Money Loan — 9.99% Interest-Only
Loan Amount
$115,750
Purchase (95% LTV)
$80,750
Rehab (100%)
$35,000
Loan-to-ARV
72.3%
Monthly Interest
$964/mo
Down Payment5% of $85,000 purchase
$4,250+
Origination Fee1.5 pts on $115,750 loan
$2,500+
Closing Costs5% of purchase
$4,250=
Cash to First Close
$11,000Holding Period — 2 Months
HML Interest9.99% IO · $964/mo × 2$1,927
Property Taxes$207/mo × 2$413
Insurance$100/mo × 2$200
Total Holding Costs$2,540
Contingency Reserve10% of rehab — held, not at first close$3,500
Sale Event — Second Close
Sale Price (ARV)
$160,000−
HML Principal Payofffull IO loan balance
$115,750−
Closing Costs3.5% of sale price
$5,600−
Realtor Commission6% of sale price
$9,600=
Net Proceeds to You
$29,050Deal Summary
Net Proceeds at Closing
$29,050−
Cash to First Close
$11,000−
Holding Costs (2 mo)
$2,540−
Contingency Reserve
$3,500=
NET PROFIT
$12,010Max Bid by ROI Target
| ROI | Max Bid | vs Offer |
|---|---|---|
| 10% | $95,180 | ✓ ok |
| 15% | $94,380 | ✓ ok |
| 20% ← | $93,590 | ✓ ok |
| 25% | $92,809 | ✓ ok |
| 30% | $92,037 | ✓ ok |
Scenario 2 — HM→DSCR
Hard money @ 9.99% IO → DSCR refi · 75% ARV · 7.1% / 30yr
✅
PASSES DSCR
Min 1.30x · 7.1% / 30-yr DSCR · 75% of ARV
1.322x
DSCR
Monthly Cash Flow
$260/mo
Cash-on-Cash Yr 1
19.0%
$16,390 left in deal
Acquisition Event — First Close
Hard Money Loan — 9.99% Interest-Only
Loan Amount
$115,750
Purchase (95% LTV)
$80,750
Rehab (100%)
$35,000
Loan-to-ARV
72.3%
Monthly Interest
$964/mo
Down Payment5% of $85,000 purchase
$4,250+
Origination Fee1.5 pts on $115,750 loan
$2,500+
Closing Costs5% of purchase
$4,250=
Cash to First Close
$11,000Holding Period — 2 Months
HML Interest9.99% IO · $964/mo × 2$1,927
Property Taxes$207/mo × 2$413
Insurance$100/mo × 2$200
Total Holding Costs$2,540
Contingency Reserve10% of rehab — held, not at first close$3,500
DSCR Refinance — Second Close
DSCR Loan Proceeds75% of ARV · 7.1% / 30yr
$120,000−
HML Principal Payofffull IO loan balance
$115,750−
Origination Fee1 pts on $120,000
$1,200−
Closing Coststitle / appraisal / escrow
$2,400=
Cash Back to You
+$650Deal Summary
Cash to First Close
$11,000+
Holding Costs (2 mo)
$2,540+
Contingency Reserve
$3,500−
Cash Back at Refi
−$650=
Capital Left in Deal
$16,390Equity Position — Day 1 Post-Refi
ARV
$160,000−
DSCR Loan Balance
$120,000=
Equity in Property
$40,000 (25.0%)−
Capital Left in Deal
$16,390=
Value Created
$23,610$40,000 equity on $16,390 deployed = 2.4× equity leverage
Monthly Income & Expenses — Post-DSCR
Gross Rent
$1,560−
Property Taxes
$207−
Insurance
$100−
Maintenance (6% rent)
$94−
Management (6% rent)
$94=
OpEx Subtotal
$494=
Net Operating Income
$1,066−
DSCR P&I
$806/mo=
Net Cash Flow
$260/moDSCR Ratios — Cash-Out vs No Cash-Out
Cash-Out Refi
75% of ARV — full LTV
Loan Amount$120,000
Monthly P&I$806/mo
Net Cash Flow$260/mo
Cash Back at Refi+$650
DSCR
1.322x✓ Pass
Lender DSCR
1.402x✓ Pass
No Cash-Out
74.6% LTV — breakeven refi
Loan Amount$119,330
Monthly P&I$802/mo
Net Cash Flow$264/mo
Cash Back at Refi+$0
DSCR
1.330x✓ Pass
Lender DSCR
1.407x✓ Pass
Required Rent by DSCR Target
| Target | Rent Needed | vs Current |
|---|---|---|
| 1.00x | $1,265/mo | ✓ met |
| 1.10x | $1,356/mo | ✓ met |
| 1.20x | $1,448/mo | ✓ met |
| 1.30x ← | $1,540/mo | ✓ met |
| 1.40x | $1,631/mo | +$71 needed |
Scenario 3 — Cash→DSCR
All-cash purchase → DSCR refi · 75% ARV · 7.1% / 30yr
✅
PASSES DSCR
Min 1.30x · 7.1% / 30-yr DSCR · 75% of ARV
1.322x
DSCR
Monthly Cash Flow
$260/mo
Cash-on-Cash Yr 1
26.1%
$11,963 left in deal
Acquisition Event — First Close
Purchase Price
$85,000+
Rehab Budget
$35,000+
Closing Costs5% of purchase
$4,250=
Total Cash to First Close
$124,250Holding Period — 2 Months
Property Taxes$207/mo × 2$413
Insurance$100/mo × 2$200
Total Holding Costs$613
Contingency Reserve10% of rehab — held, not at first close$3,500
DSCR Refinance — Second Close
DSCR Loan Proceeds75% of ARV · 7.1% / 30yr
$120,000−
Origination Fee1 pts on $120,000
$1,200−
Closing Coststitle / appraisal / escrow
$2,400=
Net Cash Recovered
$116,400Deal Summary
Total Cash to First Close
$124,250+
Holding Costs (2 mo)
$613+
Contingency Reserve
$3,500−
Net Cash Recovered at Refi
$116,400=
Capital Left in Deal
$11,963Equity Position — Day 1 Post-Refi
ARV
$160,000−
DSCR Loan Balance
$120,000=
Equity in Property
$40,000 (25.0%)−
Capital Left in Deal
$11,963=
Value Created
$28,037$40,000 equity on $11,963 deployed = 3.3× equity leverage
Monthly Income & Expenses — Post-DSCR
Gross Rent
$1,560−
Property Taxes
$207−
Insurance
$100−
Maintenance (6% rent)
$94−
Management (6% rent)
$94=
OpEx Subtotal
$494=
Net Operating Income
$1,066−
DSCR P&I
$806/mo=
Net Cash Flow
$260/moDSCR Ratios — Cash-Out vs No Cash-Out
Cash-Out Refi
75% of ARV — full LTV
Loan Amount$120,000
Monthly P&I$806/mo
Net Cash Flow$260/mo
Cash Still Required−$11,963
DSCR
1.322x✓ Pass
Lender DSCR
1.402x✓ Pass
No Cash-Out
75.0% LTV — capped short $11,963
Loan Amount$120,000
Monthly P&I$806/mo
Net Cash Flow$260/mo
Cash Still Required−$11,963
DSCR
1.322x✓ Pass
Lender DSCR
1.402x✓ Pass
Required Rent by DSCR Target
| Target | Rent Needed | vs Current |
|---|---|---|
| 1.00x | $1,265/mo | ✓ met |
| 1.10x | $1,356/mo | ✓ met |
| 1.20x | $1,448/mo | ✓ met |
| 1.30x ← | $1,540/mo | ✓ met |
| 1.40x | $1,631/mo | +$71 needed |