5226 Panay Park Dr, Houston, TX 77048
3bd / 2ba · 1,904 sqft · built 2007 · Single Family (SFR)Analyzed Jul 29, 2026$
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Scenario 1 — Flip
Hard money loan · sell at ARV after rehab
❌
FAILS FLIP
Min 20% ROI · 6-mo hold
-57.4%
Flip ROI
Cash to First Close
$21,000
what you bring day 1
Net Profit
−$21,040
Max Bid @ 20%
$160,689
−$21,040 profit ÷ $36,645 total invested = -57.4%
Acquisition Event — First Close
Hard Money Loan — 9.99% Interest-Only
Loan Amount
$204,310
Purchase (95% LTV)
$175,750
Rehab (100%)
$28,560
Loan-to-ARV
84.1%
Monthly Interest
$1,701/mo
Down Payment5% of $185,000 purchase
$9,250+
Origination Fee1 pts on $204,310 loan
$2,500+
Closing Costs5% of purchase
$9,250=
Cash to First Close
$21,000Holding Period — 6 Months
HML Interest9.99% IO · $1,701/mo × 6$10,205
Property Taxes$253/mo × 6$1,516
Insurance$178/mo × 6$1,068
Total Holding Costs$12,789
Contingency Reserve10% of rehab — held, not at first close$2,856
Sale Event — Second Close
Sale Price (ARV)
$243,000−
HML Principal Payofffull IO loan balance
$204,310−
Closing Costs3.5% of sale price
$8,505−
Realtor Commission6% of sale price
$14,580=
Net Proceeds to You
$15,605Deal Summary
Net Proceeds at Closing
$15,605−
Cash to First Close
$21,000−
Holding Costs (6 mo)
$12,789−
Contingency Reserve
$2,856=
NET PROFIT
−$21,040Max Bid by ROI Target
| ROI | Max Bid | vs Offer |
|---|---|---|
| 10% | $163,548 | −$21,452 |
| 15% | $162,108 | −$22,892 |
| 20% ← | $160,689 | −$24,311 |
| 25% | $159,290 | −$25,710 |
| 30% | $157,910 | −$27,090 |
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
1.157x
DSCR
Monthly Cash Flow
$193/mo
Cash-on-Cash Yr 1
4.2%
$55,646 left in deal
Acquisition Event — First Close
Hard Money Loan — 9.99% Interest-Only
Loan Amount
$204,310
Purchase (95% LTV)
$175,750
Rehab (100%)
$28,560
Loan-to-ARV
84.1%
Monthly Interest
$1,701/mo
Down Payment5% of $185,000 purchase
$9,250+
Origination Fee1 pts on $204,310 loan
$2,500+
Closing Costs5% of purchase
$9,250=
Cash to First Close
$21,000Holding Period — 2 Months
HML Interest9.99% IO · $1,701/mo × 2$3,402
Property Taxes$253/mo × 2$505
Insurance$178/mo × 2$356
Total Holding Costs$4,263
Contingency Reserve10% of rehab — held, not at first close$2,856
DSCR Refinance — Second Close
DSCR Loan Proceeds75% of ARV · 7.1% / 30yr
$182,250−
HML Principal Payofffull IO loan balance
$204,310−
Origination Fee1 pts on $182,250
$1,823−
Closing Coststitle / appraisal / escrow
$3,645=
Cash to Bring to Close
−$27,528Deal Summary
Cash to First Close
$21,000+
Holding Costs (2 mo)
$4,263+
Contingency Reserve
$2,856−
Cash to Bring at Refi
+$27,528=
Capital Left in Deal
$55,646Equity Position — Day 1 Post-Refi
ARV
$243,000−
DSCR Loan Balance
$182,250=
Equity in Property
$60,750 (25.0%)−
Capital Left in Deal
$55,646=
Value Created
$5,104$60,750 equity on $55,646 deployed = 1.1× equity leverage
Monthly Income & Expenses — Post-DSCR
Gross Rent
$2,100−
Property Taxes
$253−
Insurance
$178−
Maintenance (6% rent)
$126−
Management (6% rent)
$126=
OpEx Subtotal
$683=
Net Operating Income
$1,417−
DSCR P&I
$1,225/mo=
Net Cash Flow
$193/moDSCR Ratios — Cash-Out vs No Cash-Out
Cash-Out Refi
75% of ARV — full LTV
Loan Amount$182,250
Monthly P&I$1,225/mo
Net Cash Flow$193/mo
Cash Still Required−$27,528
DSCR
1.157x✗ Fail
Lender DSCR
1.269x✓ Pass
No Cash-Out
75.0% LTV — capped short $27,528
Loan Amount$182,250
Monthly P&I$1,225/mo
Net Cash Flow$193/mo
Cash Still Required−$27,528
DSCR
1.157x✗ Fail
Lender DSCR
1.269x✓ Pass
Required Rent by DSCR Target
| Target | Rent Needed | vs Current |
|---|---|---|
| 1.00x | $1,881/mo | ✓ met |
| 1.10x | $2,020/mo | ✓ met |
| 1.20x | $2,159/mo | +$59 needed |
| 1.30x ← | $2,299/mo | +$199 needed |
| 1.40x | $2,438/mo | +$338 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
1.157x
DSCR
Monthly Cash Flow
$193/mo
Cash-on-Cash Yr 1
4.6%
$49,745 left in deal
Acquisition Event — First Close
Purchase Price
$185,000+
Rehab Budget
$28,560+
Closing Costs5% of purchase
$9,250=
Total Cash to First Close
$222,810Holding Period — 2 Months
Property Taxes$253/mo × 2$505
Insurance$178/mo × 2$356
Total Holding Costs$861
Contingency Reserve10% of rehab — held, not at first close$2,856
DSCR Refinance — Second Close
DSCR Loan Proceeds75% of ARV · 7.1% / 30yr
$182,250−
Origination Fee1 pts on $182,250
$1,823−
Closing Coststitle / appraisal / escrow
$3,645=
Net Cash Recovered
$176,783Deal Summary
Total Cash to First Close
$222,810+
Holding Costs (2 mo)
$861+
Contingency Reserve
$2,856−
Net Cash Recovered at Refi
$176,783=
Capital Left in Deal
$49,745Equity Position — Day 1 Post-Refi
ARV
$243,000−
DSCR Loan Balance
$182,250=
Equity in Property
$60,750 (25.0%)−
Capital Left in Deal
$49,745=
Value Created
$11,005$60,750 equity on $49,745 deployed = 1.2× equity leverage
Monthly Income & Expenses — Post-DSCR
Gross Rent
$2,100−
Property Taxes
$253−
Insurance
$178−
Maintenance (6% rent)
$126−
Management (6% rent)
$126=
OpEx Subtotal
$683=
Net Operating Income
$1,417−
DSCR P&I
$1,225/mo=
Net Cash Flow
$193/moDSCR Ratios — Cash-Out vs No Cash-Out
Cash-Out Refi
75% of ARV — full LTV
Loan Amount$182,250
Monthly P&I$1,225/mo
Net Cash Flow$193/mo
Cash Still Required−$49,745
DSCR
1.157x✗ Fail
Lender DSCR
1.269x✓ Pass
No Cash-Out
75.0% LTV — capped short $49,745
Loan Amount$182,250
Monthly P&I$1,225/mo
Net Cash Flow$193/mo
Cash Still Required−$49,745
DSCR
1.157x✗ Fail
Lender DSCR
1.269x✓ Pass
Required Rent by DSCR Target
| Target | Rent Needed | vs Current |
|---|---|---|
| 1.00x | $1,881/mo | ✓ met |
| 1.10x | $2,020/mo | ✓ met |
| 1.20x | $2,159/mo | +$59 needed |
| 1.30x ← | $2,299/mo | +$199 needed |
| 1.40x | $2,438/mo | +$338 needed |