1810 Locksford St, Houston, TX 77008
3bd / 2ba · 1,158 sqft · built 1964 · Single Family (SFR)Analyzed Jul 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
-181.4%
Flip ROI
Cash to First Close
$45,800
what you bring day 1
Net Profit
−$185,248
Max Bid @ 20%
$220,274
−$185,248 profit ÷ $102,094 total invested = -181.4%
Acquisition Event — First Close
Hard Money Loan — 9.99% Interest-Only
Loan Amount
$579,999
Purchase (95% LTV)
$379,999
Rehab (100%)
$200,000
Loan-to-ARV
105.6%
Monthly Interest
$4,828/mo
Down Payment5% of $399,999 purchase
$20,000+
Origination Fee1 pts on $579,999 loan
$5,800+
Closing Costs5% of purchase
$20,000=
Cash to First Close
$45,800Holding Period — 6 Months
HML Interest9.99% IO · $4,828/mo × 6$28,971
Property Taxes$721/mo × 6$4,323
Insurance$500/mo × 6$3,000
Total Holding Costs$36,294
Contingency Reserve10% of rehab — held, not at first close$20,000
Sale Event — Second Close
Sale Price (ARV)
$549,000−
HML Principal Payofffull IO loan balance
$579,999−
Closing Costs3.5% of sale price
$19,215−
Realtor Commission6% of sale price
$32,940=
Net Proceeds to You
−$83,154Deal Summary
Net Proceeds at Closing
−$83,154−
Cash to First Close
$45,800−
Holding Costs (6 mo)
$36,294−
Contingency Reserve
$20,000=
NET PROFIT
−$185,248Max Bid by ROI Target
| ROI | Max Bid | vs Offer |
|---|---|---|
| 10% | $226,744 | −$173,255 |
| 15% | $223,486 | −$176,513 |
| 20% ← | $220,274 | −$179,725 |
| 25% | $217,108 | −$182,891 |
| 30% | $213,985 | −$186,014 |
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
0.462x
DSCR
Monthly Cash Flow
−$1,488/mo
Cash-on-Cash Yr 1
-6.9%
$258,499 left in deal
Acquisition Event — First Close
Hard Money Loan — 9.99% Interest-Only
Loan Amount
$579,999
Purchase (95% LTV)
$379,999
Rehab (100%)
$200,000
Loan-to-ARV
105.6%
Monthly Interest
$4,828/mo
Down Payment5% of $399,999 purchase
$20,000+
Origination Fee1 pts on $579,999 loan
$5,800+
Closing Costs5% of purchase
$20,000=
Cash to First Close
$45,800Holding Period — 2 Months
HML Interest9.99% IO · $4,828/mo × 2$9,657
Property Taxes$721/mo × 2$1,441
Insurance$500/mo × 2$1,000
Total Holding Costs$12,098
Contingency Reserve10% of rehab — held, not at first close$20,000
DSCR Refinance — Second Close
DSCR Loan Proceeds75% of ARV · 7.1% / 30yr
$411,750−
HML Principal Payofffull IO loan balance
$579,999−
Origination Fee1 pts on $411,750
$4,118−
Closing Coststitle / appraisal / escrow
$8,235=
Cash to Bring to Close
−$180,602Deal Summary
Cash to First Close
$45,800+
Holding Costs (2 mo)
$12,098+
Contingency Reserve
$20,000−
Cash to Bring at Refi
+$180,602=
Capital Left in Deal
$258,499Equity Position — Day 1 Post-Refi
ARV
$549,000−
DSCR Loan Balance
$411,750=
Equity in Property
$137,250 (25.0%)−
Capital Left in Deal
$258,499=
Value Created
−$121,249$137,250 equity on $258,499 deployed = 0.5× equity leverage
Monthly Income & Expenses — Post-DSCR
Gross Rent
$2,840−
Property Taxes
$721−
Insurance
$500−
Maintenance (6% rent)
$170−
Management (6% rent)
$170=
OpEx Subtotal
$1,561=
Net Operating Income
$1,279−
DSCR P&I
$2,767/mo=
Net Cash Flow
−$1,488/moDSCR Ratios — Cash-Out vs No Cash-Out
Cash-Out Refi
75% of ARV — full LTV
Loan Amount$411,750
Monthly P&I$2,767/mo
Net Cash Flow−$1,488/mo
Cash Still Required−$180,602
DSCR
0.462x✗ Fail
Lender DSCR
0.712x✗ Fail
No Cash-Out
75.0% LTV — capped short $180,602
Loan Amount$411,750
Monthly P&I$2,767/mo
Net Cash Flow−$1,488/mo
Cash Still Required−$180,602
DSCR
0.462x✗ Fail
Lender DSCR
0.712x✗ Fail
Required Rent by DSCR Target
| Target | Rent Needed | vs Current |
|---|---|---|
| 1.00x | $4,531/mo | +$1,691 needed |
| 1.10x | $4,846/mo | +$2,006 needed |
| 1.20x | $5,160/mo | +$2,320 needed |
| 1.30x ← | $5,475/mo | +$2,635 needed |
| 1.40x | $5,789/mo | +$2,949 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
0.462x
DSCR
Monthly Cash Flow
−$1,488/mo
Cash-on-Cash Yr 1
-7.3%
$243,042 left in deal
Acquisition Event — First Close
Purchase Price
$399,999+
Rehab Budget
$200,000+
Closing Costs5% of purchase
$20,000=
Total Cash to First Close
$619,999Holding Period — 2 Months
Property Taxes$721/mo × 2$1,441
Insurance$500/mo × 2$1,000
Total Holding Costs$2,441
Contingency Reserve10% of rehab — held, not at first close$20,000
DSCR Refinance — Second Close
DSCR Loan Proceeds75% of ARV · 7.1% / 30yr
$411,750−
Origination Fee1 pts on $411,750
$4,118−
Closing Coststitle / appraisal / escrow
$8,235=
Net Cash Recovered
$399,398Deal Summary
Total Cash to First Close
$619,999+
Holding Costs (2 mo)
$2,441+
Contingency Reserve
$20,000−
Net Cash Recovered at Refi
$399,398=
Capital Left in Deal
$243,042Equity Position — Day 1 Post-Refi
ARV
$549,000−
DSCR Loan Balance
$411,750=
Equity in Property
$137,250 (25.0%)−
Capital Left in Deal
$243,042=
Value Created
−$105,792$137,250 equity on $243,042 deployed = 0.6× equity leverage
Monthly Income & Expenses — Post-DSCR
Gross Rent
$2,840−
Property Taxes
$721−
Insurance
$500−
Maintenance (6% rent)
$170−
Management (6% rent)
$170=
OpEx Subtotal
$1,561=
Net Operating Income
$1,279−
DSCR P&I
$2,767/mo=
Net Cash Flow
−$1,488/moDSCR Ratios — Cash-Out vs No Cash-Out
Cash-Out Refi
75% of ARV — full LTV
Loan Amount$411,750
Monthly P&I$2,767/mo
Net Cash Flow−$1,488/mo
Cash Still Required−$243,042
DSCR
0.462x✗ Fail
Lender DSCR
0.712x✗ Fail
No Cash-Out
75.0% LTV — capped short $243,042
Loan Amount$411,750
Monthly P&I$2,767/mo
Net Cash Flow−$1,488/mo
Cash Still Required−$243,042
DSCR
0.462x✗ Fail
Lender DSCR
0.712x✗ Fail
Required Rent by DSCR Target
| Target | Rent Needed | vs Current |
|---|---|---|
| 1.00x | $4,531/mo | +$1,691 needed |
| 1.10x | $4,846/mo | +$2,006 needed |
| 1.20x | $5,160/mo | +$2,320 needed |
| 1.30x ← | $5,475/mo | +$2,635 needed |
| 1.40x | $5,789/mo | +$2,949 needed |