3438 Kennonview Dr, Houston, TX 77068
4bd / 2.5ba · 2,693 sqft · built 1978 · Single Family (SFR)Analyzed Jun 10, 2026$
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Scenario 1 — Flip
Hard money loan · sell at ARV after rehab
❌
FAILS FLIP
Min 20% ROI · 6-mo hold
-59.3%
Flip ROI
Cash to First Close
$21,555
what you bring day 1
Net Profit
−$27,298
Max Bid @ 20%
$158,102
−$27,298 profit ÷ $46,014 total invested = -59.3%
Acquisition Event — First Close
Hard Money Loan — 9.99% Interest-Only
Loan Amount
$255,499
Purchase (95% LTV)
$180,499
Rehab (100%)
$75,000
Loan-to-ARV
84.3%
Monthly Interest
$2,127/mo
Down Payment5% of $189,999 purchase
$9,500+
Origination Fee1 pts on $255,499 loan
$2,555+
Closing Costs5% of purchase
$9,500=
Cash to First Close
$21,555Holding Period — 6 Months
HML Interest9.99% IO · $2,127/mo × 6$12,762
Property Taxes$479/mo × 6$2,872
Insurance$221/mo × 6$1,325
Total Holding Costs$16,959
Contingency Reserve10% of rehab — held, not at first close$7,500
Sale Event — Second Close
Sale Price (ARV)
$303,000−
HML Principal Payofffull IO loan balance
$255,499−
Closing Costs3.5% of sale price
$10,605−
Realtor Commission6% of sale price
$18,180=
Net Proceeds to You
$18,716Deal Summary
Net Proceeds at Closing
$18,716−
Cash to First Close
$21,555−
Holding Costs (6 mo)
$16,959−
Contingency Reserve
$7,500=
NET PROFIT
−$27,298Max Bid by ROI Target
| ROI | Max Bid | vs Offer |
|---|---|---|
| 10% | $161,723 | −$28,276 |
| 15% | $159,900 | −$30,099 |
| 20% ← | $158,102 | −$31,897 |
| 25% | $156,330 | −$33,669 |
| 30% | $154,582 | −$35,417 |
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
0.985x
DSCR
Monthly Cash Flow
−$23/mo
Cash-on-Cash Yr 1
-0.4%
$69,774 left in deal
Acquisition Event — First Close
Hard Money Loan — 9.99% Interest-Only
Loan Amount
$255,499
Purchase (95% LTV)
$180,499
Rehab (100%)
$75,000
Loan-to-ARV
84.3%
Monthly Interest
$2,127/mo
Down Payment5% of $189,999 purchase
$9,500+
Origination Fee1 pts on $255,499 loan
$2,555+
Closing Costs5% of purchase
$9,500=
Cash to First Close
$21,555Holding Period — 2 Months
HML Interest9.99% IO · $2,127/mo × 2$4,254
Property Taxes$479/mo × 2$957
Insurance$221/mo × 2$442
Total Holding Costs$5,653
Contingency Reserve10% of rehab — held, not at first close$7,500
DSCR Refinance — Second Close
DSCR Loan Proceeds75% of ARV · 7.1% / 30yr
$227,250−
HML Principal Payofffull IO loan balance
$255,499−
Origination Fee1 pts on $227,250
$2,273−
Closing Coststitle / appraisal / escrow
$4,545=
Cash to Bring to Close
−$35,067Deal Summary
Cash to First Close
$21,555+
Holding Costs (2 mo)
$5,653+
Contingency Reserve
$7,500−
Cash to Bring at Refi
+$35,067=
Capital Left in Deal
$69,774Equity Position — Day 1 Post-Refi
ARV
$303,000−
DSCR Loan Balance
$227,250=
Equity in Property
$75,750 (25.0%)−
Capital Left in Deal
$69,774=
Value Created
$5,976$75,750 equity on $69,774 deployed = 1.1× equity leverage
Monthly Income & Expenses — Post-DSCR
Gross Rent
$2,504−
Property Taxes
$479−
Insurance
$221−
Maintenance (6% rent)
$150−
Management (6% rent)
$150=
OpEx Subtotal
$1,000=
Net Operating Income
$1,504−
DSCR P&I
$1,527/mo=
Net Cash Flow
−$23/moDSCR Ratios — Cash-Out vs No Cash-Out
Cash-Out Refi
75% of ARV — full LTV
Loan Amount$227,250
Monthly P&I$1,527/mo
Net Cash Flow−$23/mo
Cash Still Required−$35,067
DSCR
0.985x✗ Fail
Lender DSCR
1.125x✓ Pass
No Cash-Out
75.0% LTV — capped short $35,067
Loan Amount$227,250
Monthly P&I$1,527/mo
Net Cash Flow−$23/mo
Cash Still Required−$35,067
DSCR
0.985x✗ Fail
Lender DSCR
1.125x✓ Pass
Required Rent by DSCR Target
| Target | Rent Needed | vs Current |
|---|---|---|
| 1.00x | $2,530/mo | +$26 needed |
| 1.10x | $2,704/mo | +$200 needed |
| 1.20x | $2,877/mo | +$373 needed |
| 1.30x ← | $3,051/mo | +$547 needed |
| 1.40x | $3,225/mo | +$721 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
0.985x
DSCR
Monthly Cash Flow
−$23/mo
Cash-on-Cash Yr 1
-0.4%
$62,965 left in deal
Acquisition Event — First Close
Purchase Price
$189,999+
Rehab Budget
$75,000+
Closing Costs5% of purchase
$9,500=
Total Cash to First Close
$274,499Holding Period — 2 Months
Property Taxes$479/mo × 2$957
Insurance$221/mo × 2$442
Total Holding Costs$1,399
Contingency Reserve10% of rehab — held, not at first close$7,500
DSCR Refinance — Second Close
DSCR Loan Proceeds75% of ARV · 7.1% / 30yr
$227,250−
Origination Fee1 pts on $227,250
$2,273−
Closing Coststitle / appraisal / escrow
$4,545=
Net Cash Recovered
$220,433Deal Summary
Total Cash to First Close
$274,499+
Holding Costs (2 mo)
$1,399+
Contingency Reserve
$7,500−
Net Cash Recovered at Refi
$220,433=
Capital Left in Deal
$62,965Equity Position — Day 1 Post-Refi
ARV
$303,000−
DSCR Loan Balance
$227,250=
Equity in Property
$75,750 (25.0%)−
Capital Left in Deal
$62,965=
Value Created
$12,785$75,750 equity on $62,965 deployed = 1.2× equity leverage
Monthly Income & Expenses — Post-DSCR
Gross Rent
$2,504−
Property Taxes
$479−
Insurance
$221−
Maintenance (6% rent)
$150−
Management (6% rent)
$150=
OpEx Subtotal
$1,000=
Net Operating Income
$1,504−
DSCR P&I
$1,527/mo=
Net Cash Flow
−$23/moDSCR Ratios — Cash-Out vs No Cash-Out
Cash-Out Refi
75% of ARV — full LTV
Loan Amount$227,250
Monthly P&I$1,527/mo
Net Cash Flow−$23/mo
Cash Still Required−$62,965
DSCR
0.985x✗ Fail
Lender DSCR
1.125x✓ Pass
No Cash-Out
75.0% LTV — capped short $62,965
Loan Amount$227,250
Monthly P&I$1,527/mo
Net Cash Flow−$23/mo
Cash Still Required−$62,965
DSCR
0.985x✗ Fail
Lender DSCR
1.125x✓ Pass
Required Rent by DSCR Target
| Target | Rent Needed | vs Current |
|---|---|---|
| 1.00x | $2,530/mo | +$26 needed |
| 1.10x | $2,704/mo | +$200 needed |
| 1.20x | $2,877/mo | +$373 needed |
| 1.30x ← | $3,051/mo | +$547 needed |
| 1.40x | $3,225/mo | +$721 needed |