2513 Wheeler St, Houston, TX 77004
4bd / 2ba · 1,916 sqft · built 1938 · Single Family (SFR)Analyzed Jul 16, 2026$
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Scenario 1 — Flip
Hard money loan · sell at ARV after rehab
✅
PASSES FLIP
Min 20% ROI · 6-mo hold
102.4%
Flip ROI
Cash to First Close
$21,000
what you bring day 1
Net Profit
$41,036
Max Bid @ 20%
$214,217
$41,036 profit ÷ $40,055 total invested = 102.4%
Acquisition Event — First Close
Hard Money Loan — 9.99% Interest-Only
Loan Amount
$215,749
Purchase (95% LTV)
$175,749
Rehab (100%)
$40,000
Loan-to-ARV
65.8%
Monthly Interest
$1,796/mo
Down Payment5% of $184,999 purchase
$9,250+
Origination Fee1 pts on $215,749 loan
$2,500+
Closing Costs5% of purchase
$9,250=
Cash to First Close
$21,000Holding Period — 6 Months
HML Interest9.99% IO · $1,796/mo × 6$10,777
Property Taxes$526/mo × 6$3,154
Insurance$187/mo × 6$1,125
Total Holding Costs$15,055
Contingency Reserve10% of rehab — held, not at first close$4,000
Sale Event — Second Close
Sale Price (ARV)
$328,000−
HML Principal Payofffull IO loan balance
$215,749−
Closing Costs3.5% of sale price
$11,480−
Realtor Commission6% of sale price
$19,680=
Net Proceeds to You
$81,091Deal Summary
Net Proceeds at Closing
$81,091−
Cash to First Close
$21,000−
Holding Costs (6 mo)
$15,055−
Contingency Reserve
$4,000=
NET PROFIT
$41,036Max Bid by ROI Target
| ROI | Max Bid | vs Offer |
|---|---|---|
| 10% | $218,157 | ✓ ok |
| 15% | $216,173 | ✓ ok |
| 20% ← | $214,217 | ✓ ok |
| 25% | $212,289 | ✓ ok |
| 30% | $210,388 | ✓ 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
0.913x
DSCR
Monthly Cash Flow
−$143/mo
Cash-on-Cash Yr 1
-24.1%
$7,147 left in deal
Acquisition Event — First Close
Hard Money Loan — 9.99% Interest-Only
Loan Amount
$215,749
Purchase (95% LTV)
$175,749
Rehab (100%)
$40,000
Loan-to-ARV
65.8%
Monthly Interest
$1,796/mo
Down Payment5% of $184,999 purchase
$9,250+
Origination Fee1 pts on $215,749 loan
$2,500+
Closing Costs5% of purchase
$9,250=
Cash to First Close
$21,000Holding Period — 2 Months
HML Interest9.99% IO · $1,796/mo × 2$3,592
Property Taxes$526/mo × 2$1,051
Insurance$187/mo × 2$375
Total Holding Costs$5,018
Contingency Reserve10% of rehab — held, not at first close$4,000
DSCR Refinance — Second Close
DSCR Loan Proceeds75% of ARV · 7.1% / 30yr
$246,000−
HML Principal Payofffull IO loan balance
$215,749−
Origination Fee1 pts on $246,000
$2,460−
Closing Coststitle / appraisal / escrow
$4,920=
Cash Back to You
+$22,871Deal Summary
Cash to First Close
$21,000+
Holding Costs (2 mo)
$5,018+
Contingency Reserve
$4,000−
Cash Back at Refi
−$22,871=
Capital Left in Deal
$7,147Equity Position — Day 1 Post-Refi
ARV
$328,000−
DSCR Loan Balance
$246,000=
Equity in Property
$82,000 (25.0%)−
Capital Left in Deal
$7,147=
Value Created
$74,853$82,000 equity on $7,147 deployed = 11.5× equity leverage
Monthly Income & Expenses — Post-DSCR
Gross Rent
$2,526−
Property Taxes
$526−
Insurance
$187−
Maintenance (6% rent)
$152−
Management (6% rent)
$152=
OpEx Subtotal
$1,016=
Net Operating Income
$1,510−
DSCR P&I
$1,653/mo=
Net Cash Flow
−$143/moDSCR Ratios — Cash-Out vs No Cash-Out
Cash-Out Refi
75% of ARV — full LTV
Loan Amount$246,000
Monthly P&I$1,653/mo
Net Cash Flow−$143/mo
Cash Back at Refi+$22,871
DSCR
0.913x✗ Fail
Lender DSCR
1.067x✓ Pass
No Cash-Out
67.8% LTV — breakeven refi
Loan Amount$222,422
Monthly P&I$1,495/mo
Net Cash Flow$15/mo
Cash Back at Refi+$0
DSCR
1.010x✗ Fail
Lender DSCR
1.144x✓ Pass
Required Rent by DSCR Target
| Target | Rent Needed | vs Current |
|---|---|---|
| 1.00x | $2,689/mo | +$163 needed |
| 1.10x | $2,877/mo | +$351 needed |
| 1.20x | $3,065/mo | +$539 needed |
| 1.30x ← | $3,253/mo | +$727 needed |
| 1.40x | $3,440/mo | +$914 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
0.913x
DSCR
Monthly Cash Flow
−$143/mo
Cash-on-Cash Yr 1
-163.1%
$1,055 left in deal
Acquisition Event — First Close
Purchase Price
$184,999+
Rehab Budget
$40,000+
Closing Costs5% of purchase
$9,250=
Total Cash to First Close
$234,249Holding Period — 2 Months
Property Taxes$526/mo × 2$1,051
Insurance$187/mo × 2$375
Total Holding Costs$1,426
Contingency Reserve10% of rehab — held, not at first close$4,000
DSCR Refinance — Second Close
DSCR Loan Proceeds75% of ARV · 7.1% / 30yr
$246,000−
Origination Fee1 pts on $246,000
$2,460−
Closing Coststitle / appraisal / escrow
$4,920=
Net Cash Recovered
$238,620Deal Summary
Total Cash to First Close
$234,249+
Holding Costs (2 mo)
$1,426+
Contingency Reserve
$4,000−
Net Cash Recovered at Refi
$238,620=
Capital Left in Deal
$1,055Equity Position — Day 1 Post-Refi
ARV
$328,000−
DSCR Loan Balance
$246,000=
Equity in Property
$82,000 (25.0%)−
Capital Left in Deal
$1,055=
Value Created
$80,945$82,000 equity on $1,055 deployed = 77.7× equity leverage
Monthly Income & Expenses — Post-DSCR
Gross Rent
$2,526−
Property Taxes
$526−
Insurance
$187−
Maintenance (6% rent)
$152−
Management (6% rent)
$152=
OpEx Subtotal
$1,016=
Net Operating Income
$1,510−
DSCR P&I
$1,653/mo=
Net Cash Flow
−$143/moDSCR Ratios — Cash-Out vs No Cash-Out
Cash-Out Refi
75% of ARV — full LTV
Loan Amount$246,000
Monthly P&I$1,653/mo
Net Cash Flow−$143/mo
Cash Still Required−$1,055
DSCR
0.913x✗ Fail
Lender DSCR
1.067x✓ Pass
No Cash-Out
75.0% LTV — capped short $1,055
Loan Amount$246,000
Monthly P&I$1,653/mo
Net Cash Flow−$143/mo
Cash Still Required−$1,055
DSCR
0.913x✗ Fail
Lender DSCR
1.067x✓ Pass
Required Rent by DSCR Target
| Target | Rent Needed | vs Current |
|---|---|---|
| 1.00x | $2,689/mo | +$163 needed |
| 1.10x | $2,877/mo | +$351 needed |
| 1.20x | $3,065/mo | +$539 needed |
| 1.30x ← | $3,253/mo | +$727 needed |
| 1.40x | $3,440/mo | +$914 needed |