2902 Skelton Dr, Houston, TX 77067
2bd / 2ba · 1,202 sqft · built 2023 · Single Family (SFR)Analyzed Jun 1, 2026$
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Scenario 1 — Flip
Hard money loan · sell at ARV after rehab
✅
PASSES FLIP
Min 20% ROI · 6-mo hold
116.4%
Flip ROI
Cash to First Close
$18,000
what you bring day 1
Net Profit
$33,482
Max Bid @ 20%
$180,259
$33,482 profit ÷ $28,753 total invested = 116.4%
Acquisition Event — First Close
Hard Money Loan — 9.99% Interest-Only
Loan Amount
$152,250
Purchase (95% LTV)
$147,250
Rehab (100%)
$5,000
Loan-to-ARV
64.2%
Monthly Interest
$1,267/mo
Down Payment5% of $155,000 purchase
$7,750+
Origination Fee1 pts on $152,250 loan
$2,500+
Closing Costs5% of purchase
$7,750=
Cash to First Close
$18,000Holding Period — 6 Months
HML Interest9.99% IO · $1,267/mo × 6$7,605
Property Taxes$308/mo × 6$1,848
Insurance$133/mo × 6$800
Total Holding Costs$10,253
Contingency Reserve10% of rehab — held, not at first close$500
Sale Event — Second Close
Sale Price (ARV)
$237,000−
HML Principal Payofffull IO loan balance
$152,250−
Closing Costs3.5% of sale price
$8,295−
Realtor Commission6% of sale price
$14,220=
Net Proceeds to You
$62,235Deal Summary
Net Proceeds at Closing
$62,235−
Cash to First Close
$18,000−
Holding Costs (6 mo)
$10,253−
Contingency Reserve
$500=
NET PROFIT
$33,482Max Bid by ROI Target
| ROI | Max Bid | vs Offer |
|---|---|---|
| 10% | $183,083 | ✓ ok |
| 15% | $181,661 | ✓ ok |
| 20% ← | $180,259 | ✓ ok |
| 25% | $178,876 | ✓ ok |
| 30% | $177,513 | ✓ 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
0.920x
DSCR
Monthly Cash Flow
−$96/mo
Cash-on-Cash Yr 1
-65.7%
$1,750 left in deal
Acquisition Event — First Close
Hard Money Loan — 9.99% Interest-Only
Loan Amount
$152,250
Purchase (95% LTV)
$147,250
Rehab (100%)
$5,000
Loan-to-ARV
64.2%
Monthly Interest
$1,267/mo
Down Payment5% of $155,000 purchase
$7,750+
Origination Fee1 pts on $152,250 loan
$2,500+
Closing Costs5% of purchase
$7,750=
Cash to First Close
$18,000Holding Period — 2 Months
HML Interest9.99% IO · $1,267/mo × 2$2,535
Property Taxes$308/mo × 2$616
Insurance$133/mo × 2$267
Total Holding Costs$3,418
Contingency Reserve10% of rehab — held, not at first close$500
DSCR Refinance — Second Close
DSCR Loan Proceeds75% of ARV · 7.1% / 30yr
$177,750−
HML Principal Payofffull IO loan balance
$152,250−
Origination Fee1 pts on $177,750
$1,778−
Closing Coststitle / appraisal / escrow
$3,555=
Cash Back to You
+$20,168Deal Summary
Cash to First Close
$18,000+
Holding Costs (2 mo)
$3,418+
Contingency Reserve
$500−
Cash Back at Refi
−$20,168=
Capital Left in Deal
$1,750Equity Position — Day 1 Post-Refi
ARV
$237,000−
DSCR Loan Balance
$177,750=
Equity in Property
$59,250 (25.0%)−
Capital Left in Deal
$1,750=
Value Created
$57,500$59,250 equity on $1,750 deployed = 33.9× equity leverage
Monthly Income & Expenses — Post-DSCR
Gross Rent
$1,750−
Property Taxes
$308−
Insurance
$133−
Maintenance (6% rent)
$105−
Management (6% rent)
$105=
OpEx Subtotal
$651=
Net Operating Income
$1,099−
DSCR P&I
$1,195/mo=
Net Cash Flow
−$96/moDSCR Ratios — Cash-Out vs No Cash-Out
Cash-Out Refi
75% of ARV — full LTV
Loan Amount$177,750
Monthly P&I$1,195/mo
Net Cash Flow−$96/mo
Cash Back at Refi+$20,168
DSCR
0.920x✗ Fail
Lender DSCR
1.070x✓ Pass
No Cash-Out
66.2% LTV — breakeven refi
Loan Amount$156,959
Monthly P&I$1,055/mo
Net Cash Flow$44/mo
Cash Back at Refi+$0
DSCR
1.042x✗ Fail
Lender DSCR
1.170x✓ Pass
Required Rent by DSCR Target
| Target | Rent Needed | vs Current |
|---|---|---|
| 1.00x | $1,859/mo | +$109 needed |
| 1.10x | $1,995/mo | +$245 needed |
| 1.20x | $2,130/mo | +$380 needed |
| 1.30x ← | $2,266/mo | +$516 needed |
| 1.40x | $2,402/mo | +$652 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
0.920x
DSCR
Monthly Cash Flow
−$96/mo
Cash-on-Cash Yr 1
N/A
−$3,285 left in deal
Acquisition Event — First Close
Purchase Price
$155,000+
Rehab Budget
$5,000+
Closing Costs5% of purchase
$7,750=
Total Cash to First Close
$167,750Holding Period — 2 Months
Property Taxes$308/mo × 2$616
Insurance$133/mo × 2$267
Total Holding Costs$883
Contingency Reserve10% of rehab — held, not at first close$500
DSCR Refinance — Second Close
DSCR Loan Proceeds75% of ARV · 7.1% / 30yr
$177,750−
Origination Fee1 pts on $177,750
$1,778−
Closing Coststitle / appraisal / escrow
$3,555=
Net Cash Recovered
$172,418Deal Summary
Total Cash to First Close
$167,750+
Holding Costs (2 mo)
$883+
Contingency Reserve
$500−
Net Cash Recovered at Refi
$172,418=
Capital Left in Deal
−$3,285Equity Position — Day 1 Post-Refi
ARV
$237,000−
DSCR Loan Balance
$177,750=
Equity in Property
$59,250 (25.0%)−
Capital Left in Deal
−$3,285=
Value Created
$62,535Monthly Income & Expenses — Post-DSCR
Gross Rent
$1,750−
Property Taxes
$308−
Insurance
$133−
Maintenance (6% rent)
$105−
Management (6% rent)
$105=
OpEx Subtotal
$651=
Net Operating Income
$1,099−
DSCR P&I
$1,195/mo=
Net Cash Flow
−$96/moDSCR Ratios — Cash-Out vs No Cash-Out
Cash-Out Refi
75% of ARV — full LTV
Loan Amount$177,750
Monthly P&I$1,195/mo
Net Cash Flow−$96/mo
Cash Back at Refi+$3,285
DSCR
0.920x✗ Fail
Lender DSCR
1.070x✓ Pass
No Cash-Out
73.6% LTV — breakeven refi
Loan Amount$174,364
Monthly P&I$1,172/mo
Net Cash Flow−$73/mo
Cash Back at Refi+$0
DSCR
0.938x✗ Fail
Lender DSCR
1.085x✓ Pass
Required Rent by DSCR Target
| Target | Rent Needed | vs Current |
|---|---|---|
| 1.00x | $1,859/mo | +$109 needed |
| 1.10x | $1,995/mo | +$245 needed |
| 1.20x | $2,130/mo | +$380 needed |
| 1.30x ← | $2,266/mo | +$516 needed |
| 1.40x | $2,402/mo | +$652 needed |