149 Georgia St, Houston, TX 77029
2bd / 2ba · 1,470 sqft · built 1960 · Multi Family (MFR)Analyzed Jun 9, 2026$
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Scenario 1 — Flip
Hard money loan · sell at ARV after rehab
❌
FAILS FLIP
Min 20% ROI · 6-mo hold
-16.0%
Flip ROI
Cash to First Close
$21,000
what you bring day 1
Net Profit
−$5,547
Max Bid @ 20%
$174,706
−$5,547 profit ÷ $34,713 total invested = -16.0%
Acquisition Event — First Close
Hard Money Loan — 9.99% Interest-Only
Loan Amount
$190,749
Purchase (95% LTV)
$175,749
Rehab (100%)
$15,000
Loan-to-ARV
78.5%
Monthly Interest
$1,588/mo
Down Payment5% of $184,999 purchase
$9,250+
Origination Fee1 pts on $190,749 loan
$2,500+
Closing Costs5% of purchase
$9,250=
Cash to First Close
$21,000Holding Period — 6 Months
HML Interest9.99% IO · $1,588/mo × 6$9,528
Property Taxes$281/mo × 6$1,686
Insurance$167/mo × 6$1,000
Total Holding Costs$12,213
Contingency Reserve10% of rehab — held, not at first close$1,500
Sale Event — Second Close
Sale Price (ARV)
$243,000−
HML Principal Payofffull IO loan balance
$190,749−
Closing Costs3.5% of sale price
$8,505−
Realtor Commission6% of sale price
$14,580=
Net Proceeds to You
$29,166Deal Summary
Net Proceeds at Closing
$29,166−
Cash to First Close
$21,000−
Holding Costs (6 mo)
$12,213−
Contingency Reserve
$1,500=
NET PROFIT
−$5,547Max Bid by ROI Target
| ROI | Max Bid | vs Offer |
|---|---|---|
| 10% | $177,582 | −$7,417 |
| 15% | $176,134 | −$8,865 |
| 20% ← | $174,706 | −$10,293 |
| 25% | $173,298 | −$11,701 |
| 30% | $171,909 | −$13,090 |
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
0.592x
DSCR
Monthly Cash Flow
−$500/mo
Cash-on-Cash Yr 1
-14.8%
$40,538 left in deal
Acquisition Event — First Close
Hard Money Loan — 9.99% Interest-Only
Loan Amount
$190,749
Purchase (95% LTV)
$175,749
Rehab (100%)
$15,000
Loan-to-ARV
78.5%
Monthly Interest
$1,588/mo
Down Payment5% of $184,999 purchase
$9,250+
Origination Fee1 pts on $190,749 loan
$2,500+
Closing Costs5% of purchase
$9,250=
Cash to First Close
$21,000Holding Period — 2 Months
HML Interest9.99% IO · $1,588/mo × 2$3,176
Property Taxes$281/mo × 2$562
Insurance$167/mo × 2$333
Total Holding Costs$4,071
Contingency Reserve10% of rehab — held, not at first close$1,500
DSCR Refinance — Second Close
DSCR Loan Proceeds75% of ARV · 7.1% / 30yr
$182,250−
HML Principal Payofffull IO loan balance
$190,749−
Origination Fee1 pts on $182,250
$1,823−
Closing Coststitle / appraisal / escrow
$3,645=
Cash to Bring to Close
−$13,967Deal Summary
Cash to First Close
$21,000+
Holding Costs (2 mo)
$4,071+
Contingency Reserve
$1,500−
Cash to Bring at Refi
+$13,967=
Capital Left in Deal
$40,538Equity Position — Day 1 Post-Refi
ARV
$243,000−
DSCR Loan Balance
$182,250=
Equity in Property
$60,750 (25.0%)−
Capital Left in Deal
$40,538=
Value Created
$20,212$60,750 equity on $40,538 deployed = 1.5× equity leverage
Monthly Income & Expenses — Post-DSCR
Gross Rent
$1,332−
Property Taxes
$281−
Insurance
$167−
Maintenance (6% rent)
$80−
Management (6% rent)
$80=
OpEx Subtotal
$607=
Net Operating Income
$725−
DSCR P&I
$1,225/mo=
Net Cash Flow
−$500/moDSCR Ratios — Cash-Out vs No Cash-Out
Cash-Out Refi
75% of ARV — full LTV
Loan Amount$182,250
Monthly P&I$1,225/mo
Net Cash Flow−$500/mo
Cash Still Required−$13,967
DSCR
0.592x✗ Fail
Lender DSCR
0.796x✗ Fail
No Cash-Out
75.0% LTV — capped short $13,967
Loan Amount$182,250
Monthly P&I$1,225/mo
Net Cash Flow−$500/mo
Cash Still Required−$13,967
DSCR
0.592x✗ Fail
Lender DSCR
0.796x✗ Fail
Required Rent by DSCR Target
| Target | Rent Needed | vs Current |
|---|---|---|
| 1.00x | $1,900/mo | +$568 needed |
| 1.10x | $2,040/mo | +$708 needed |
| 1.20x | $2,179/mo | +$847 needed |
| 1.30x ← | $2,318/mo | +$986 needed |
| 1.40x | $2,457/mo | +$1,125 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
0.592x
DSCR
Monthly Cash Flow
−$500/mo
Cash-on-Cash Yr 1
-17.2%
$34,862 left in deal
Acquisition Event — First Close
Purchase Price
$184,999+
Rehab Budget
$15,000+
Closing Costs5% of purchase
$9,250=
Total Cash to First Close
$209,249Holding Period — 2 Months
Property Taxes$281/mo × 2$562
Insurance$167/mo × 2$333
Total Holding Costs$895
Contingency Reserve10% of rehab — held, not at first close$1,500
DSCR Refinance — Second Close
DSCR Loan Proceeds75% of ARV · 7.1% / 30yr
$182,250−
Origination Fee1 pts on $182,250
$1,823−
Closing Coststitle / appraisal / escrow
$3,645=
Net Cash Recovered
$176,783Deal Summary
Total Cash to First Close
$209,249+
Holding Costs (2 mo)
$895+
Contingency Reserve
$1,500−
Net Cash Recovered at Refi
$176,783=
Capital Left in Deal
$34,862Equity Position — Day 1 Post-Refi
ARV
$243,000−
DSCR Loan Balance
$182,250=
Equity in Property
$60,750 (25.0%)−
Capital Left in Deal
$34,862=
Value Created
$25,888$60,750 equity on $34,862 deployed = 1.7× equity leverage
Monthly Income & Expenses — Post-DSCR
Gross Rent
$1,332−
Property Taxes
$281−
Insurance
$167−
Maintenance (6% rent)
$80−
Management (6% rent)
$80=
OpEx Subtotal
$607=
Net Operating Income
$725−
DSCR P&I
$1,225/mo=
Net Cash Flow
−$500/moDSCR Ratios — Cash-Out vs No Cash-Out
Cash-Out Refi
75% of ARV — full LTV
Loan Amount$182,250
Monthly P&I$1,225/mo
Net Cash Flow−$500/mo
Cash Still Required−$34,862
DSCR
0.592x✗ Fail
Lender DSCR
0.796x✗ Fail
No Cash-Out
75.0% LTV — capped short $34,862
Loan Amount$182,250
Monthly P&I$1,225/mo
Net Cash Flow−$500/mo
Cash Still Required−$34,862
DSCR
0.592x✗ Fail
Lender DSCR
0.796x✗ Fail
Required Rent by DSCR Target
| Target | Rent Needed | vs Current |
|---|---|---|
| 1.00x | $1,900/mo | +$568 needed |
| 1.10x | $2,040/mo | +$708 needed |
| 1.20x | $2,179/mo | +$847 needed |
| 1.30x ← | $2,318/mo | +$986 needed |
| 1.40x | $2,457/mo | +$1,125 needed |