1318 Sand Stone Dr, Richmond, TX 77406
3bd / 2ba · 1,250 sqft · built 1982 · Single Family (SFR)Analyzed May 20, 2026$
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Scenario 1 — Flip
Hard money loan · sell at ARV after rehab
✅
PASSES FLIP
Min 20% ROI · 6-mo hold
24.6%
Flip ROI
Cash to First Close
$19,500
what you bring day 1
Net Profit
$7,935
Max Bid @ 20%
$172,008
$7,935 profit ÷ $32,291 total invested = 24.6%
Acquisition Event — First Close
Hard Money Loan — 9.99% Interest-Only
Loan Amount
$181,499
Purchase (95% LTV)
$161,499
Rehab (100%)
$20,000
Loan-to-ARV
74.1%
Monthly Interest
$1,511/mo
Down Payment5% of $169,999 purchase
$8,500+
Origination Fee1 pts on $181,499 loan
$2,500+
Closing Costs5% of purchase
$8,500=
Cash to First Close
$19,500Holding Period — 6 Months
HML Interest9.99% IO · $1,511/mo × 6$9,066
Property Taxes$129/mo × 6$775
Insurance$158/mo × 6$950
Total Holding Costs$10,791
Contingency Reserve10% of rehab — held, not at first close$2,000
Sale Event — Second Close
Sale Price (ARV)
$245,000−
HML Principal Payofffull IO loan balance
$181,499−
Closing Costs3.5% of sale price
$8,575−
Realtor Commission6% of sale price
$14,700=
Net Proceeds to You
$40,226Deal Summary
Net Proceeds at Closing
$40,226−
Cash to First Close
$19,500−
Holding Costs (6 mo)
$10,791−
Contingency Reserve
$2,000=
NET PROFIT
$7,935Max Bid by ROI Target
| ROI | Max Bid | vs Offer |
|---|---|---|
| 10% | $174,838 | ✓ ok |
| 15% | $173,413 | ✓ ok |
| 20% ← | $172,008 | ✓ ok |
| 25% | $170,623 | ✓ ok |
| 30% | $169,257 | −$742 |
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
1.101x
DSCR
Monthly Cash Flow
$124/mo
Cash-on-Cash Yr 1
5.3%
$28,358 left in deal
Acquisition Event — First Close
Hard Money Loan — 9.99% Interest-Only
Loan Amount
$181,499
Purchase (95% LTV)
$161,499
Rehab (100%)
$20,000
Loan-to-ARV
74.1%
Monthly Interest
$1,511/mo
Down Payment5% of $169,999 purchase
$8,500+
Origination Fee1 pts on $181,499 loan
$2,500+
Closing Costs5% of purchase
$8,500=
Cash to First Close
$19,500Holding Period — 2 Months
HML Interest9.99% IO · $1,511/mo × 2$3,022
Property Taxes$129/mo × 2$258
Insurance$158/mo × 2$317
Total Holding Costs$3,597
Contingency Reserve10% of rehab — held, not at first close$2,000
DSCR Refinance — Second Close
DSCR Loan Proceeds75% of ARV · 7.1% / 30yr
$183,750−
HML Principal Payofffull IO loan balance
$181,499−
Origination Fee1 pts on $183,750
$1,838−
Closing Coststitle / appraisal / escrow
$3,675=
Cash to Bring to Close
−$3,262Deal Summary
Cash to First Close
$19,500+
Holding Costs (2 mo)
$3,597+
Contingency Reserve
$2,000−
Cash to Bring at Refi
+$3,262=
Capital Left in Deal
$28,358Equity Position — Day 1 Post-Refi
ARV
$245,000−
DSCR Loan Balance
$183,750=
Equity in Property
$61,250 (25.0%)−
Capital Left in Deal
$28,358=
Value Created
$32,892$61,250 equity on $28,358 deployed = 2.2× equity leverage
Monthly Income & Expenses — Post-DSCR
Gross Rent
$1,871−
Property Taxes
$129−
Insurance
$158−
Maintenance (6% rent)
$112−
Management (6% rent)
$112=
OpEx Subtotal
$512=
Net Operating Income
$1,359−
DSCR P&I
$1,235/mo=
Net Cash Flow
$124/moDSCR Ratios — Cash-Out vs No Cash-Out
Cash-Out Refi
75% of ARV — full LTV
Loan Amount$183,750
Monthly P&I$1,235/mo
Net Cash Flow$124/mo
Cash Still Required−$3,262
DSCR
1.101x✗ Fail
Lender DSCR
1.229x✓ Pass
No Cash-Out
75.0% LTV — capped short $3,262
Loan Amount$183,750
Monthly P&I$1,235/mo
Net Cash Flow$124/mo
Cash Still Required−$3,262
DSCR
1.101x✗ Fail
Lender DSCR
1.229x✓ Pass
Required Rent by DSCR Target
| Target | Rent Needed | vs Current |
|---|---|---|
| 1.00x | $1,730/mo | ✓ met |
| 1.10x | $1,870/mo | ✓ met |
| 1.20x | $2,011/mo | +$140 needed |
| 1.30x ← | $2,151/mo | +$280 needed |
| 1.40x | $2,291/mo | +$420 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
1.101x
DSCR
Monthly Cash Flow
$124/mo
Cash-on-Cash Yr 1
6.5%
$22,836 left in deal
Acquisition Event — First Close
Purchase Price
$169,999+
Rehab Budget
$20,000+
Closing Costs5% of purchase
$8,500=
Total Cash to First Close
$198,499Holding Period — 2 Months
Property Taxes$129/mo × 2$258
Insurance$158/mo × 2$317
Total Holding Costs$575
Contingency Reserve10% of rehab — held, not at first close$2,000
DSCR Refinance — Second Close
DSCR Loan Proceeds75% of ARV · 7.1% / 30yr
$183,750−
Origination Fee1 pts on $183,750
$1,838−
Closing Coststitle / appraisal / escrow
$3,675=
Net Cash Recovered
$178,238Deal Summary
Total Cash to First Close
$198,499+
Holding Costs (2 mo)
$575+
Contingency Reserve
$2,000−
Net Cash Recovered at Refi
$178,238=
Capital Left in Deal
$22,836Equity Position — Day 1 Post-Refi
ARV
$245,000−
DSCR Loan Balance
$183,750=
Equity in Property
$61,250 (25.0%)−
Capital Left in Deal
$22,836=
Value Created
$38,414$61,250 equity on $22,836 deployed = 2.7× equity leverage
Monthly Income & Expenses — Post-DSCR
Gross Rent
$1,871−
Property Taxes
$129−
Insurance
$158−
Maintenance (6% rent)
$112−
Management (6% rent)
$112=
OpEx Subtotal
$512=
Net Operating Income
$1,359−
DSCR P&I
$1,235/mo=
Net Cash Flow
$124/moDSCR Ratios — Cash-Out vs No Cash-Out
Cash-Out Refi
75% of ARV — full LTV
Loan Amount$183,750
Monthly P&I$1,235/mo
Net Cash Flow$124/mo
Cash Still Required−$22,836
DSCR
1.101x✗ Fail
Lender DSCR
1.229x✓ Pass
No Cash-Out
75.0% LTV — capped short $22,836
Loan Amount$183,750
Monthly P&I$1,235/mo
Net Cash Flow$124/mo
Cash Still Required−$22,836
DSCR
1.101x✗ Fail
Lender DSCR
1.229x✓ Pass
Required Rent by DSCR Target
| Target | Rent Needed | vs Current |
|---|---|---|
| 1.00x | $1,730/mo | ✓ met |
| 1.10x | $1,870/mo | ✓ met |
| 1.20x | $2,011/mo | +$140 needed |
| 1.30x ← | $2,151/mo | +$280 needed |
| 1.40x | $2,291/mo | +$420 needed |