2018 Greengrass Ct, Houston, TX 77008
4bd / 2.5ba · 2,882 sqft · built 1969 · Single Family (SFR)Analyzed Jul 28, 2026$
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Scenario 1 — Flip
Hard money loan · sell at ARV after rehab
✅
PASSES FLIP
Min 20% ROI · 6-mo hold
28.6%
Flip ROI
Cash to First Close
$81,130
what you bring day 1
Net Profit
$36,846
Max Bid @ 20%
$749,668
$36,846 profit ÷ $128,910 total invested = 28.6%
Acquisition Event — First Close
Hard Money Loan — 9.99% Interest-Only
Loan Amount
$712,999
Purchase (95% LTV)
$702,999
Rehab (100%)
$10,000
Loan-to-ARV
73.4%
Monthly Interest
$5,936/mo
Down Payment5% of $739,999 purchase
$37,000+
Origination Fee1 pts on $712,999 loan
$7,130+
Closing Costs5% of purchase
$37,000=
Cash to First Close
$81,130Holding Period — 6 Months
HML Interest9.99% IO · $5,936/mo × 6$35,614
Property Taxes$1,236/mo × 6$7,416
Insurance$625/mo × 6$3,750
Total Holding Costs$46,780
Contingency Reserve10% of rehab — held, not at first close$1,000
Sale Event — Second Close
Sale Price (ARV)
$971,000−
HML Principal Payofffull IO loan balance
$712,999−
Closing Costs3.5% of sale price
$33,985−
Realtor Commission6% of sale price
$58,260=
Net Proceeds to You
$165,756Deal Summary
Net Proceeds at Closing
$165,756−
Cash to First Close
$81,130−
Holding Costs (6 mo)
$46,780−
Contingency Reserve
$1,000=
NET PROFIT
$36,846Max Bid by ROI Target
| ROI | Max Bid | vs Offer |
|---|---|---|
| 10% | $761,233 | ✓ ok |
| 15% | $755,409 | ✓ ok |
| 20% ← | $749,668 | ✓ ok |
| 25% | $744,007 | ✓ ok |
| 30% | $738,425 | −$1,574 |
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
0.368x
DSCR
Monthly Cash Flow
−$3,092/mo
Cash-on-Cash Yr 1
-35.6%
$104,320 left in deal
Acquisition Event — First Close
Hard Money Loan — 9.99% Interest-Only
Loan Amount
$712,999
Purchase (95% LTV)
$702,999
Rehab (100%)
$10,000
Loan-to-ARV
73.4%
Monthly Interest
$5,936/mo
Down Payment5% of $739,999 purchase
$37,000+
Origination Fee1 pts on $712,999 loan
$7,130+
Closing Costs5% of purchase
$37,000=
Cash to First Close
$81,130Holding Period — 2 Months
HML Interest9.99% IO · $5,936/mo × 2$11,871
Property Taxes$1,236/mo × 2$2,472
Insurance$625/mo × 2$1,250
Total Holding Costs$15,593
Contingency Reserve10% of rehab — held, not at first close$1,000
DSCR Refinance — Second Close
DSCR Loan Proceeds75% of ARV · 7.1% / 30yr
$728,250−
HML Principal Payofffull IO loan balance
$712,999−
Origination Fee1 pts on $728,250
$7,283−
Closing Coststitle / appraisal / escrow
$14,565=
Cash to Bring to Close
−$6,597Deal Summary
Cash to First Close
$81,130+
Holding Costs (2 mo)
$15,593+
Contingency Reserve
$1,000−
Cash to Bring at Refi
+$6,597=
Capital Left in Deal
$104,320Equity Position — Day 1 Post-Refi
ARV
$971,000−
DSCR Loan Balance
$728,250=
Equity in Property
$242,750 (25.0%)−
Capital Left in Deal
$104,320=
Value Created
$138,430$242,750 equity on $104,320 deployed = 2.3× equity leverage
Monthly Income & Expenses — Post-DSCR
Gross Rent
$4,163−
Property Taxes
$1,236−
Insurance
$625−
Maintenance (6% rent)
$250−
Management (6% rent)
$250=
OpEx Subtotal
$2,360=
Net Operating Income
$1,803−
DSCR P&I
$4,894/mo=
Net Cash Flow
−$3,092/moDSCR Ratios — Cash-Out vs No Cash-Out
Cash-Out Refi
75% of ARV — full LTV
Loan Amount$728,250
Monthly P&I$4,894/mo
Net Cash Flow−$3,092/mo
Cash Still Required−$6,597
DSCR
0.368x✗ Fail
Lender DSCR
0.616x✗ Fail
No Cash-Out
75.0% LTV — capped short $6,597
Loan Amount$728,250
Monthly P&I$4,894/mo
Net Cash Flow−$3,092/mo
Cash Still Required−$6,597
DSCR
0.368x✗ Fail
Lender DSCR
0.616x✗ Fail
Required Rent by DSCR Target
| Target | Rent Needed | vs Current |
|---|---|---|
| 1.00x | $7,676/mo | +$3,513 needed |
| 1.10x | $8,232/mo | +$4,069 needed |
| 1.20x | $8,788/mo | +$4,625 needed |
| 1.30x ← | $9,345/mo | +$5,182 needed |
| 1.40x | $9,901/mo | +$5,738 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
0.368x
DSCR
Monthly Cash Flow
−$3,092/mo
Cash-on-Cash Yr 1
-43.5%
$85,318 left in deal
Acquisition Event — First Close
Purchase Price
$739,999+
Rehab Budget
$10,000+
Closing Costs5% of purchase
$37,000=
Total Cash to First Close
$786,999Holding Period — 2 Months
Property Taxes$1,236/mo × 2$2,472
Insurance$625/mo × 2$1,250
Total Holding Costs$3,722
Contingency Reserve10% of rehab — held, not at first close$1,000
DSCR Refinance — Second Close
DSCR Loan Proceeds75% of ARV · 7.1% / 30yr
$728,250−
Origination Fee1 pts on $728,250
$7,283−
Closing Coststitle / appraisal / escrow
$14,565=
Net Cash Recovered
$706,403Deal Summary
Total Cash to First Close
$786,999+
Holding Costs (2 mo)
$3,722+
Contingency Reserve
$1,000−
Net Cash Recovered at Refi
$706,403=
Capital Left in Deal
$85,318Equity Position — Day 1 Post-Refi
ARV
$971,000−
DSCR Loan Balance
$728,250=
Equity in Property
$242,750 (25.0%)−
Capital Left in Deal
$85,318=
Value Created
$157,432$242,750 equity on $85,318 deployed = 2.8× equity leverage
Monthly Income & Expenses — Post-DSCR
Gross Rent
$4,163−
Property Taxes
$1,236−
Insurance
$625−
Maintenance (6% rent)
$250−
Management (6% rent)
$250=
OpEx Subtotal
$2,360=
Net Operating Income
$1,803−
DSCR P&I
$4,894/mo=
Net Cash Flow
−$3,092/moDSCR Ratios — Cash-Out vs No Cash-Out
Cash-Out Refi
75% of ARV — full LTV
Loan Amount$728,250
Monthly P&I$4,894/mo
Net Cash Flow−$3,092/mo
Cash Still Required−$85,318
DSCR
0.368x✗ Fail
Lender DSCR
0.616x✗ Fail
No Cash-Out
75.0% LTV — capped short $85,318
Loan Amount$728,250
Monthly P&I$4,894/mo
Net Cash Flow−$3,092/mo
Cash Still Required−$85,318
DSCR
0.368x✗ Fail
Lender DSCR
0.616x✗ Fail
Required Rent by DSCR Target
| Target | Rent Needed | vs Current |
|---|---|---|
| 1.00x | $7,676/mo | +$3,513 needed |
| 1.10x | $8,232/mo | +$4,069 needed |
| 1.20x | $8,788/mo | +$4,625 needed |
| 1.30x ← | $9,345/mo | +$5,182 needed |
| 1.40x | $9,901/mo | +$5,738 needed |