2106 Wickburn Dr, Spring, TX 77386
3bd / 2ba · 1,567 sqft · built 1982 · Single Family (SFR)Analyzed Apr 26, 2026$
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Scenario 1 — Flip
Hard money loan · sell at ARV after rehab
✅
PASSES FLIP
Min 20% ROI · 6-mo hold
111.0%
Flip ROI
Cash to First Close
$18,500
what you bring day 1
Net Profit
$35,685
Max Bid @ 20%
$186,385
$35,685 profit ÷ $32,140 total invested = 111.0%
Acquisition Event — First Close
Hard Money Loan — 9.99% Interest-Only
Loan Amount
$172,000
Purchase (95% LTV)
$152,000
Rehab (100%)
$20,000
Loan-to-ARV
64.9%
Monthly Interest
$1,432/mo
Down Payment5% of $160,000 purchase
$8,000+
Origination Fee1 pts on $172,000 loan
$2,500+
Closing Costs5% of purchase
$8,000=
Cash to First Close
$18,500Holding Period — 6 Months
HML Interest9.99% IO · $1,432/mo × 6$8,591
Property Taxes$358/mo × 6$2,149
Insurance$150/mo × 6$900
Total Holding Costs$11,640
Contingency Reserve10% of rehab — held, not at first close$2,000
Sale Event — Second Close
Sale Price (ARV)
$265,000−
HML Principal Payofffull IO loan balance
$172,000−
Closing Costs3.5% of sale price
$9,275−
Realtor Commission6% of sale price
$15,900=
Net Proceeds to You
$67,825Deal Summary
Net Proceeds at Closing
$67,825−
Cash to First Close
$18,500−
Holding Costs (6 mo)
$11,640−
Contingency Reserve
$2,000=
NET PROFIT
$35,685Max Bid by ROI Target
| ROI | Max Bid | vs Offer |
|---|---|---|
| 10% | $189,543 | ✓ ok |
| 15% | $187,953 | ✓ ok |
| 20% ← | $186,385 | ✓ ok |
| 25% | $184,839 | ✓ ok |
| 30% | $183,314 | ✓ ok |
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
0.988x
DSCR
Monthly Cash Flow
−$16/mo
Cash-on-Cash Yr 1
-5.3%
$3,592 left in deal
Acquisition Event — First Close
Hard Money Loan — 9.99% Interest-Only
Loan Amount
$172,000
Purchase (95% LTV)
$152,000
Rehab (100%)
$20,000
Loan-to-ARV
64.9%
Monthly Interest
$1,432/mo
Down Payment5% of $160,000 purchase
$8,000+
Origination Fee1 pts on $172,000 loan
$2,500+
Closing Costs5% of purchase
$8,000=
Cash to First Close
$18,500Holding Period — 2 Months
HML Interest9.99% IO · $1,432/mo × 2$2,864
Property Taxes$358/mo × 2$716
Insurance$150/mo × 2$300
Total Holding Costs$3,880
Contingency Reserve10% of rehab — held, not at first close$2,000
DSCR Refinance — Second Close
DSCR Loan Proceeds75% of ARV · 7.1% / 30yr
$198,750−
HML Principal Payofffull IO loan balance
$172,000−
Origination Fee1 pts on $198,750
$1,988−
Closing Coststitle / appraisal / escrow
$3,975=
Cash Back to You
+$20,788Deal Summary
Cash to First Close
$18,500+
Holding Costs (2 mo)
$3,880+
Contingency Reserve
$2,000−
Cash Back at Refi
−$20,788=
Capital Left in Deal
$3,592Equity Position — Day 1 Post-Refi
ARV
$265,000−
DSCR Loan Balance
$198,750=
Equity in Property
$66,250 (25.0%)−
Capital Left in Deal
$3,592=
Value Created
$62,658$66,250 equity on $3,592 deployed = 18.4× equity leverage
Monthly Income & Expenses — Post-DSCR
Gross Rent
$2,077−
Property Taxes
$358−
Insurance
$150−
Maintenance (6% rent)
$125−
Management (6% rent)
$125=
OpEx Subtotal
$757=
Net Operating Income
$1,320−
DSCR P&I
$1,336/mo=
Net Cash Flow
−$16/moDSCR Ratios — Cash-Out vs No Cash-Out
Cash-Out Refi
75% of ARV — full LTV
Loan Amount$198,750
Monthly P&I$1,336/mo
Net Cash Flow−$16/mo
Cash Back at Refi+$20,788
DSCR
0.988x✗ Fail
Lender DSCR
1.127x✓ Pass
No Cash-Out
66.9% LTV — breakeven refi
Loan Amount$177,320
Monthly P&I$1,192/mo
Net Cash Flow$128/mo
Cash Back at Refi+$0
DSCR
1.107x✗ Fail
Lender DSCR
1.222x✓ Pass
Required Rent by DSCR Target
| Target | Rent Needed | vs Current |
|---|---|---|
| 1.00x | $2,095/mo | +$18 needed |
| 1.10x | $2,247/mo | +$170 needed |
| 1.20x | $2,399/mo | +$322 needed |
| 1.30x ← | $2,551/mo | +$474 needed |
| 1.40x | $2,702/mo | +$625 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
0.988x
DSCR
Monthly Cash Flow
−$16/mo
Cash-on-Cash Yr 1
N/A
−$1,771 left in deal
Acquisition Event — First Close
Purchase Price
$160,000+
Rehab Budget
$20,000+
Closing Costs5% of purchase
$8,000=
Total Cash to First Close
$188,000Holding Period — 2 Months
Property Taxes$358/mo × 2$716
Insurance$150/mo × 2$300
Total Holding Costs$1,016
Contingency Reserve10% of rehab — held, not at first close$2,000
DSCR Refinance — Second Close
DSCR Loan Proceeds75% of ARV · 7.1% / 30yr
$198,750−
Origination Fee1 pts on $198,750
$1,988−
Closing Coststitle / appraisal / escrow
$3,975=
Net Cash Recovered
$192,788Deal Summary
Total Cash to First Close
$188,000+
Holding Costs (2 mo)
$1,016+
Contingency Reserve
$2,000−
Net Cash Recovered at Refi
$192,788=
Capital Left in Deal
−$1,771Equity Position — Day 1 Post-Refi
ARV
$265,000−
DSCR Loan Balance
$198,750=
Equity in Property
$66,250 (25.0%)−
Capital Left in Deal
−$1,771=
Value Created
$68,021Monthly Income & Expenses — Post-DSCR
Gross Rent
$2,077−
Property Taxes
$358−
Insurance
$150−
Maintenance (6% rent)
$125−
Management (6% rent)
$125=
OpEx Subtotal
$757=
Net Operating Income
$1,320−
DSCR P&I
$1,336/mo=
Net Cash Flow
−$16/moDSCR Ratios — Cash-Out vs No Cash-Out
Cash-Out Refi
75% of ARV — full LTV
Loan Amount$198,750
Monthly P&I$1,336/mo
Net Cash Flow−$16/mo
Cash Back at Refi+$1,771
DSCR
0.988x✗ Fail
Lender DSCR
1.127x✓ Pass
No Cash-Out
74.3% LTV — breakeven refi
Loan Amount$196,924
Monthly P&I$1,323/mo
Net Cash Flow−$4/mo
Cash Back at Refi+$0
DSCR
0.997x✗ Fail
Lender DSCR
1.134x✓ Pass
Required Rent by DSCR Target
| Target | Rent Needed | vs Current |
|---|---|---|
| 1.00x | $2,095/mo | +$18 needed |
| 1.10x | $2,247/mo | +$170 needed |
| 1.20x | $2,399/mo | +$322 needed |
| 1.30x ← | $2,551/mo | +$474 needed |
| 1.40x | $2,702/mo | +$625 needed |