22215 Kerryblue Dr, Katy, TX 77450
3bd / 2ba · 2,206 sqft · built 1973 · Single Family (SFR)Analyzed May 19, 2026$
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Scenario 1 — Flip
Hard money loan · sell at ARV after rehab
❌
FAILS FLIP
Min 20% ROI · 6-mo hold
-24.4%
Flip ROI
Cash to First Close
$22,495
what you bring day 1
Net Profit
−$10,909
Max Bid @ 20%
$182,658
−$10,909 profit ÷ $44,697 total invested = -24.4%
Acquisition Event — First Close
Hard Money Loan — 9.99% Interest-Only
Loan Amount
$244,953
Purchase (95% LTV)
$189,953
Rehab (100%)
$55,000
Loan-to-ARV
79.5%
Monthly Interest
$2,039/mo
Down Payment5% of $199,950 purchase
$9,998+
Origination Fee1 pts on $244,953 loan
$2,500+
Closing Costs5% of purchase
$9,998=
Cash to First Close
$22,495Holding Period — 6 Months
HML Interest9.99% IO · $2,039/mo × 6$12,235
Property Taxes$532/mo × 6$3,192
Insurance$212/mo × 6$1,275
Total Holding Costs$16,702
Contingency Reserve10% of rehab — held, not at first close$5,500
Sale Event — Second Close
Sale Price (ARV)
$308,000−
HML Principal Payofffull IO loan balance
$244,953−
Closing Costs3.5% of sale price
$10,780−
Realtor Commission6% of sale price
$18,480=
Net Proceeds to You
$33,788Deal Summary
Net Proceeds at Closing
$33,788−
Cash to First Close
$22,495−
Holding Costs (6 mo)
$16,702−
Contingency Reserve
$5,500=
NET PROFIT
−$10,909Max Bid by ROI Target
| ROI | Max Bid | vs Offer |
|---|---|---|
| 10% | $186,367 | −$13,583 |
| 15% | $184,499 | −$15,451 |
| 20% ← | $182,658 | −$17,292 |
| 25% | $180,843 | −$19,107 |
| 30% | $179,052 | −$20,898 |
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
0.734x
DSCR
Monthly Cash Flow
−$414/mo
Cash-on-Cash Yr 1
-9.1%
$54,445 left in deal
Acquisition Event — First Close
Hard Money Loan — 9.99% Interest-Only
Loan Amount
$244,953
Purchase (95% LTV)
$189,953
Rehab (100%)
$55,000
Loan-to-ARV
79.5%
Monthly Interest
$2,039/mo
Down Payment5% of $199,950 purchase
$9,998+
Origination Fee1 pts on $244,953 loan
$2,500+
Closing Costs5% of purchase
$9,998=
Cash to First Close
$22,495Holding Period — 2 Months
HML Interest9.99% IO · $2,039/mo × 2$4,078
Property Taxes$532/mo × 2$1,064
Insurance$212/mo × 2$425
Total Holding Costs$5,567
Contingency Reserve10% of rehab — held, not at first close$5,500
DSCR Refinance — Second Close
DSCR Loan Proceeds75% of ARV · 7.1% / 30yr
$231,000−
HML Principal Payofffull IO loan balance
$244,953−
Origination Fee1 pts on $231,000
$2,310−
Closing Coststitle / appraisal / escrow
$4,620=
Cash to Bring to Close
−$20,883Deal Summary
Cash to First Close
$22,495+
Holding Costs (2 mo)
$5,567+
Contingency Reserve
$5,500−
Cash to Bring at Refi
+$20,883=
Capital Left in Deal
$54,445Equity Position — Day 1 Post-Refi
ARV
$308,000−
DSCR Loan Balance
$231,000=
Equity in Property
$77,000 (25.0%)−
Capital Left in Deal
$54,445=
Value Created
$22,555$77,000 equity on $54,445 deployed = 1.4× equity leverage
Monthly Income & Expenses — Post-DSCR
Gross Rent
$2,140−
Property Taxes
$532−
Insurance
$212−
Maintenance (6% rent)
$128−
Management (6% rent)
$128=
OpEx Subtotal
$1,001=
Net Operating Income
$1,139−
DSCR P&I
$1,552/mo=
Net Cash Flow
−$414/moDSCR Ratios — Cash-Out vs No Cash-Out
Cash-Out Refi
75% of ARV — full LTV
Loan Amount$231,000
Monthly P&I$1,552/mo
Net Cash Flow−$414/mo
Cash Still Required−$20,883
DSCR
0.734x✗ Fail
Lender DSCR
0.932x✗ Fail
No Cash-Out
75.0% LTV — capped short $20,883
Loan Amount$231,000
Monthly P&I$1,552/mo
Net Cash Flow−$414/mo
Cash Still Required−$20,883
DSCR
0.734x✗ Fail
Lender DSCR
0.932x✗ Fail
Required Rent by DSCR Target
| Target | Rent Needed | vs Current |
|---|---|---|
| 1.00x | $2,610/mo | +$470 needed |
| 1.10x | $2,786/mo | +$646 needed |
| 1.20x | $2,963/mo | +$823 needed |
| 1.30x ← | $3,139/mo | +$999 needed |
| 1.40x | $3,316/mo | +$1,176 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
0.734x
DSCR
Monthly Cash Flow
−$414/mo
Cash-on-Cash Yr 1
-10.4%
$47,866 left in deal
Acquisition Event — First Close
Purchase Price
$199,950+
Rehab Budget
$55,000+
Closing Costs5% of purchase
$9,998=
Total Cash to First Close
$264,948Holding Period — 2 Months
Property Taxes$532/mo × 2$1,064
Insurance$212/mo × 2$425
Total Holding Costs$1,489
Contingency Reserve10% of rehab — held, not at first close$5,500
DSCR Refinance — Second Close
DSCR Loan Proceeds75% of ARV · 7.1% / 30yr
$231,000−
Origination Fee1 pts on $231,000
$2,310−
Closing Coststitle / appraisal / escrow
$4,620=
Net Cash Recovered
$224,070Deal Summary
Total Cash to First Close
$264,948+
Holding Costs (2 mo)
$1,489+
Contingency Reserve
$5,500−
Net Cash Recovered at Refi
$224,070=
Capital Left in Deal
$47,866Equity Position — Day 1 Post-Refi
ARV
$308,000−
DSCR Loan Balance
$231,000=
Equity in Property
$77,000 (25.0%)−
Capital Left in Deal
$47,866=
Value Created
$29,134$77,000 equity on $47,866 deployed = 1.6× equity leverage
Monthly Income & Expenses — Post-DSCR
Gross Rent
$2,140−
Property Taxes
$532−
Insurance
$212−
Maintenance (6% rent)
$128−
Management (6% rent)
$128=
OpEx Subtotal
$1,001=
Net Operating Income
$1,139−
DSCR P&I
$1,552/mo=
Net Cash Flow
−$414/moDSCR Ratios — Cash-Out vs No Cash-Out
Cash-Out Refi
75% of ARV — full LTV
Loan Amount$231,000
Monthly P&I$1,552/mo
Net Cash Flow−$414/mo
Cash Still Required−$47,866
DSCR
0.734x✗ Fail
Lender DSCR
0.932x✗ Fail
No Cash-Out
75.0% LTV — capped short $47,866
Loan Amount$231,000
Monthly P&I$1,552/mo
Net Cash Flow−$414/mo
Cash Still Required−$47,866
DSCR
0.734x✗ Fail
Lender DSCR
0.932x✗ Fail
Required Rent by DSCR Target
| Target | Rent Needed | vs Current |
|---|---|---|
| 1.00x | $2,610/mo | +$470 needed |
| 1.10x | $2,786/mo | +$646 needed |
| 1.20x | $2,963/mo | +$823 needed |
| 1.30x ← | $3,139/mo | +$999 needed |
| 1.40x | $3,316/mo | +$1,176 needed |