4607 Englewood St, Houston, TX 77026
3bd / 2ba · 1,840 sqft · built 1965 · Single Family (SFR)Analyzed Jun 27, 2026$
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Scenario 1 — Flip
Hard money loan · sell at ARV after rehab
❌
FAILS FLIP
Min 20% ROI · 6-mo hold
-19.2%
Flip ROI
Cash to First Close
$13,250
what you bring day 1
Net Profit
−$6,685
Max Bid @ 20%
$96,121
−$6,685 profit ÷ $34,808 total invested = -19.2%
Acquisition Event — First Close
Hard Money Loan — 9.99% Interest-Only
Loan Amount
$198,127
Purchase (95% LTV)
$102,127
Rehab (100%)
$96,000
Loan-to-ARV
79.3%
Monthly Interest
$1,649/mo
Down Payment5% of $107,502 purchase
$5,375+
Origination Fee1 pts on $198,127 loan
$2,500+
Closing Costs5% of purchase
$5,375=
Cash to First Close
$13,250Holding Period — 6 Months
HML Interest9.99% IO · $1,649/mo × 6$9,896
Property Taxes$174/mo × 6$1,044
Insurance$170/mo × 6$1,018
Total Holding Costs$11,957
Contingency Reserve10% of rehab — held, not at first close$9,600
Sale Event — Second Close
Sale Price (ARV)
$250,000−
HML Principal Payofffull IO loan balance
$198,127−
Closing Costs3.5% of sale price
$8,750−
Realtor Commission6% of sale price
$15,000=
Net Proceeds to You
$28,123Deal Summary
Net Proceeds at Closing
$28,123−
Cash to First Close
$13,250−
Holding Costs (6 mo)
$11,957−
Contingency Reserve
$9,600=
NET PROFIT
−$6,685Max Bid by ROI Target
| ROI | Max Bid | vs Offer |
|---|---|---|
| 10% | $98,997 | −$8,505 |
| 15% | $97,549 | −$9,953 |
| 20% ← | $96,121 | −$11,381 |
| 25% | $94,713 | −$12,789 |
| 30% | $93,325 | −$14,177 |
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
0.950x
DSCR
Monthly Cash Flow
−$64/mo
Cash-on-Cash Yr 1
-1.8%
$43,088 left in deal
Acquisition Event — First Close
Hard Money Loan — 9.99% Interest-Only
Loan Amount
$198,127
Purchase (95% LTV)
$102,127
Rehab (100%)
$96,000
Loan-to-ARV
79.3%
Monthly Interest
$1,649/mo
Down Payment5% of $107,502 purchase
$5,375+
Origination Fee1 pts on $198,127 loan
$2,500+
Closing Costs5% of purchase
$5,375=
Cash to First Close
$13,250Holding Period — 2 Months
HML Interest9.99% IO · $1,649/mo × 2$3,299
Property Taxes$174/mo × 2$348
Insurance$170/mo × 2$339
Total Holding Costs$3,986
Contingency Reserve10% of rehab — held, not at first close$9,600
DSCR Refinance — Second Close
DSCR Loan Proceeds75% of ARV · 7.1% / 30yr
$187,500−
HML Principal Payofffull IO loan balance
$198,127−
Origination Fee1 pts on $187,500
$1,875−
Closing Coststitle / appraisal / escrow
$3,750=
Cash to Bring to Close
−$16,252Deal Summary
Cash to First Close
$13,250+
Holding Costs (2 mo)
$3,986+
Contingency Reserve
$9,600−
Cash to Bring at Refi
+$16,252=
Capital Left in Deal
$43,088Equity Position — Day 1 Post-Refi
ARV
$250,000−
DSCR Loan Balance
$187,500=
Equity in Property
$62,500 (25.0%)−
Capital Left in Deal
$43,088=
Value Created
$19,412$62,500 equity on $43,088 deployed = 1.5× equity leverage
Monthly Income & Expenses — Post-DSCR
Gross Rent
$1,750−
Property Taxes
$174−
Insurance
$170−
Maintenance (6% rent)
$105−
Management (6% rent)
$105=
OpEx Subtotal
$554=
Net Operating Income
$1,196−
DSCR P&I
$1,260/mo=
Net Cash Flow
−$64/moDSCR Ratios — Cash-Out vs No Cash-Out
Cash-Out Refi
75% of ARV — full LTV
Loan Amount$187,500
Monthly P&I$1,260/mo
Net Cash Flow−$64/mo
Cash Still Required−$16,252
DSCR
0.950x✗ Fail
Lender DSCR
1.091x✓ Pass
No Cash-Out
75.0% LTV — capped short $16,252
Loan Amount$187,500
Monthly P&I$1,260/mo
Net Cash Flow−$64/mo
Cash Still Required−$16,252
DSCR
0.950x✗ Fail
Lender DSCR
1.091x✓ Pass
Required Rent by DSCR Target
| Target | Rent Needed | vs Current |
|---|---|---|
| 1.00x | $1,822/mo | +$72 needed |
| 1.10x | $1,965/mo | +$215 needed |
| 1.20x | $2,109/mo | +$359 needed |
| 1.30x ← | $2,252/mo | +$502 needed |
| 1.40x | $2,395/mo | +$645 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
0.950x
DSCR
Monthly Cash Flow
−$64/mo
Cash-on-Cash Yr 1
-2.0%
$37,289 left in deal
Acquisition Event — First Close
Purchase Price
$107,502+
Rehab Budget
$96,000+
Closing Costs5% of purchase
$5,375=
Total Cash to First Close
$208,877Holding Period — 2 Months
Property Taxes$174/mo × 2$348
Insurance$170/mo × 2$339
Total Holding Costs$687
Contingency Reserve10% of rehab — held, not at first close$9,600
DSCR Refinance — Second Close
DSCR Loan Proceeds75% of ARV · 7.1% / 30yr
$187,500−
Origination Fee1 pts on $187,500
$1,875−
Closing Coststitle / appraisal / escrow
$3,750=
Net Cash Recovered
$181,875Deal Summary
Total Cash to First Close
$208,877+
Holding Costs (2 mo)
$687+
Contingency Reserve
$9,600−
Net Cash Recovered at Refi
$181,875=
Capital Left in Deal
$37,289Equity Position — Day 1 Post-Refi
ARV
$250,000−
DSCR Loan Balance
$187,500=
Equity in Property
$62,500 (25.0%)−
Capital Left in Deal
$37,289=
Value Created
$25,211$62,500 equity on $37,289 deployed = 1.7× equity leverage
Monthly Income & Expenses — Post-DSCR
Gross Rent
$1,750−
Property Taxes
$174−
Insurance
$170−
Maintenance (6% rent)
$105−
Management (6% rent)
$105=
OpEx Subtotal
$554=
Net Operating Income
$1,196−
DSCR P&I
$1,260/mo=
Net Cash Flow
−$64/moDSCR Ratios — Cash-Out vs No Cash-Out
Cash-Out Refi
75% of ARV — full LTV
Loan Amount$187,500
Monthly P&I$1,260/mo
Net Cash Flow−$64/mo
Cash Still Required−$37,289
DSCR
0.950x✗ Fail
Lender DSCR
1.091x✓ Pass
No Cash-Out
75.0% LTV — capped short $37,289
Loan Amount$187,500
Monthly P&I$1,260/mo
Net Cash Flow−$64/mo
Cash Still Required−$37,289
DSCR
0.950x✗ Fail
Lender DSCR
1.091x✓ Pass
Required Rent by DSCR Target
| Target | Rent Needed | vs Current |
|---|---|---|
| 1.00x | $1,822/mo | +$72 needed |
| 1.10x | $1,965/mo | +$215 needed |
| 1.20x | $2,109/mo | +$359 needed |
| 1.30x ← | $2,252/mo | +$502 needed |
| 1.40x | $2,395/mo | +$645 needed |