18710 Condrey Ct, Tomball, TX 77377
3bd / 2ba · 2,019 sqft · built 2006 · Single Family (SFR)Analyzed Jun 2, 2026$
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Scenario 1 — Flip
Hard money loan · sell at ARV after rehab
❌
FAILS FLIP
Min 20% ROI · 6-mo hold
-16.2%
Flip ROI
Cash to First Close
$29,317
what you bring day 1
Net Profit
−$8,174
Max Bid @ 20%
$249,045
−$8,174 profit ÷ $50,415 total invested = -16.2%
Acquisition Event — First Close
Hard Money Loan — 9.99% Interest-Only
Loan Amount
$281,749
Purchase (95% LTV)
$251,749
Rehab (100%)
$30,000
Loan-to-ARV
78.7%
Monthly Interest
$2,346/mo
Down Payment5% of $264,999 purchase
$13,250+
Origination Fee1 pts on $281,749 loan
$2,817+
Closing Costs5% of purchase
$13,250=
Cash to First Close
$29,317Holding Period — 6 Months
HML Interest9.99% IO · $2,346/mo × 6$14,073
Property Taxes$425/mo × 6$2,549
Insurance$246/mo × 6$1,475
Total Holding Costs$18,097
Contingency Reserve10% of rehab — held, not at first close$3,000
Sale Event — Second Close
Sale Price (ARV)
$358,000−
HML Principal Payofffull IO loan balance
$281,749−
Closing Costs3.5% of sale price
$12,530−
Realtor Commission6% of sale price
$21,480=
Net Proceeds to You
$42,241Deal Summary
Net Proceeds at Closing
$42,241−
Cash to First Close
$29,317−
Holding Costs (6 mo)
$18,097−
Contingency Reserve
$3,000=
NET PROFIT
−$8,174Max Bid by ROI Target
| ROI | Max Bid | vs Offer |
|---|---|---|
| 10% | $253,285 | −$11,714 |
| 15% | $251,150 | −$13,849 |
| 20% ← | $249,045 | −$15,954 |
| 25% | $246,970 | −$18,029 |
| 30% | $244,924 | −$20,075 |
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
0.701x
DSCR
Monthly Cash Flow
−$540/mo
Cash-on-Cash Yr 1
-10.9%
$59,654 left in deal
Acquisition Event — First Close
Hard Money Loan — 9.99% Interest-Only
Loan Amount
$281,749
Purchase (95% LTV)
$251,749
Rehab (100%)
$30,000
Loan-to-ARV
78.7%
Monthly Interest
$2,346/mo
Down Payment5% of $264,999 purchase
$13,250+
Origination Fee1 pts on $281,749 loan
$2,817+
Closing Costs5% of purchase
$13,250=
Cash to First Close
$29,317Holding Period — 2 Months
HML Interest9.99% IO · $2,346/mo × 2$4,691
Property Taxes$425/mo × 2$850
Insurance$246/mo × 2$492
Total Holding Costs$6,032
Contingency Reserve10% of rehab — held, not at first close$3,000
DSCR Refinance — Second Close
DSCR Loan Proceeds75% of ARV · 7.1% / 30yr
$268,500−
HML Principal Payofffull IO loan balance
$281,749−
Origination Fee1 pts on $268,500
$2,685−
Closing Coststitle / appraisal / escrow
$5,370=
Cash to Bring to Close
−$21,304Deal Summary
Cash to First Close
$29,317+
Holding Costs (2 mo)
$6,032+
Contingency Reserve
$3,000−
Cash to Bring at Refi
+$21,304=
Capital Left in Deal
$59,654Equity Position — Day 1 Post-Refi
ARV
$358,000−
DSCR Loan Balance
$268,500=
Equity in Property
$89,500 (25.0%)−
Capital Left in Deal
$59,654=
Value Created
$29,846$89,500 equity on $59,654 deployed = 1.5× equity leverage
Monthly Income & Expenses — Post-DSCR
Gross Rent
$2,199−
Property Taxes
$425−
Insurance
$246−
Maintenance (6% rent)
$132−
Management (6% rent)
$132=
OpEx Subtotal
$935=
Net Operating Income
$1,264−
DSCR P&I
$1,804/mo=
Net Cash Flow
−$540/moDSCR Ratios — Cash-Out vs No Cash-Out
Cash-Out Refi
75% of ARV — full LTV
Loan Amount$268,500
Monthly P&I$1,804/mo
Net Cash Flow−$540/mo
Cash Still Required−$21,304
DSCR
0.701x✗ Fail
Lender DSCR
0.888x✗ Fail
No Cash-Out
75.0% LTV — capped short $21,304
Loan Amount$268,500
Monthly P&I$1,804/mo
Net Cash Flow−$540/mo
Cash Still Required−$21,304
DSCR
0.701x✗ Fail
Lender DSCR
0.888x✗ Fail
Required Rent by DSCR Target
| Target | Rent Needed | vs Current |
|---|---|---|
| 1.00x | $2,813/mo | +$614 needed |
| 1.10x | $3,018/mo | +$819 needed |
| 1.20x | $3,223/mo | +$1,024 needed |
| 1.30x ← | $3,428/mo | +$1,229 needed |
| 1.40x | $3,633/mo | +$1,434 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
0.701x
DSCR
Monthly Cash Flow
−$540/mo
Cash-on-Cash Yr 1
-12.4%
$52,145 left in deal
Acquisition Event — First Close
Purchase Price
$264,999+
Rehab Budget
$30,000+
Closing Costs5% of purchase
$13,250=
Total Cash to First Close
$308,249Holding Period — 2 Months
Property Taxes$425/mo × 2$850
Insurance$246/mo × 2$492
Total Holding Costs$1,341
Contingency Reserve10% of rehab — held, not at first close$3,000
DSCR Refinance — Second Close
DSCR Loan Proceeds75% of ARV · 7.1% / 30yr
$268,500−
Origination Fee1 pts on $268,500
$2,685−
Closing Coststitle / appraisal / escrow
$5,370=
Net Cash Recovered
$260,445Deal Summary
Total Cash to First Close
$308,249+
Holding Costs (2 mo)
$1,341+
Contingency Reserve
$3,000−
Net Cash Recovered at Refi
$260,445=
Capital Left in Deal
$52,145Equity Position — Day 1 Post-Refi
ARV
$358,000−
DSCR Loan Balance
$268,500=
Equity in Property
$89,500 (25.0%)−
Capital Left in Deal
$52,145=
Value Created
$37,355$89,500 equity on $52,145 deployed = 1.7× equity leverage
Monthly Income & Expenses — Post-DSCR
Gross Rent
$2,199−
Property Taxes
$425−
Insurance
$246−
Maintenance (6% rent)
$132−
Management (6% rent)
$132=
OpEx Subtotal
$935=
Net Operating Income
$1,264−
DSCR P&I
$1,804/mo=
Net Cash Flow
−$540/moDSCR Ratios — Cash-Out vs No Cash-Out
Cash-Out Refi
75% of ARV — full LTV
Loan Amount$268,500
Monthly P&I$1,804/mo
Net Cash Flow−$540/mo
Cash Still Required−$52,145
DSCR
0.701x✗ Fail
Lender DSCR
0.888x✗ Fail
No Cash-Out
75.0% LTV — capped short $52,145
Loan Amount$268,500
Monthly P&I$1,804/mo
Net Cash Flow−$540/mo
Cash Still Required−$52,145
DSCR
0.701x✗ Fail
Lender DSCR
0.888x✗ Fail
Required Rent by DSCR Target
| Target | Rent Needed | vs Current |
|---|---|---|
| 1.00x | $2,813/mo | +$614 needed |
| 1.10x | $3,018/mo | +$819 needed |
| 1.20x | $3,223/mo | +$1,024 needed |
| 1.30x ← | $3,428/mo | +$1,229 needed |
| 1.40x | $3,633/mo | +$1,434 needed |