6111 Bihia Forest Dr, Houston, TX 77088
3bd / 2ba · 2,094 sqft · built 1976 · Single Family (SFR)Analyzed Jun 23, 2026$
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Scenario 1 — Flip
Hard money loan · sell at ARV after rehab
❌
FAILS FLIP
Min 20% ROI · 6-mo hold
0.8%
Flip ROI
Cash to First Close
$19,495
what you bring day 1
Net Profit
$283
Max Bid @ 20%
$164,621
$283 profit ÷ $35,419 total invested = 0.8%
Acquisition Event — First Close
Hard Money Loan — 9.99% Interest-Only
Loan Amount
$191,453
Purchase (95% LTV)
$161,453
Rehab (100%)
$30,000
Loan-to-ARV
76.3%
Monthly Interest
$1,594/mo
Down Payment5% of $169,950 purchase
$8,498+
Origination Fee1 pts on $191,453 loan
$2,500+
Closing Costs5% of purchase
$8,498=
Cash to First Close
$19,495Holding Period — 6 Months
HML Interest9.99% IO · $1,594/mo × 6$9,563
Property Taxes$394/mo × 6$2,362
Insurance$167/mo × 6$1,000
Total Holding Costs$12,924
Contingency Reserve10% of rehab — held, not at first close$3,000
Sale Event — Second Close
Sale Price (ARV)
$251,000−
HML Principal Payofffull IO loan balance
$191,453−
Closing Costs3.5% of sale price
$8,785−
Realtor Commission6% of sale price
$15,060=
Net Proceeds to You
$35,703Deal Summary
Net Proceeds at Closing
$35,703−
Cash to First Close
$19,495−
Holding Costs (6 mo)
$12,924−
Contingency Reserve
$3,000=
NET PROFIT
$283Max Bid by ROI Target
| ROI | Max Bid | vs Offer |
|---|---|---|
| 10% | $167,632 | −$2,318 |
| 15% | $166,116 | −$3,834 |
| 20% ← | $164,621 | −$5,329 |
| 25% | $163,147 | −$6,803 |
| 30% | $161,694 | −$8,256 |
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
0.820x
DSCR
Monthly Cash Flow
−$228/mo
Cash-on-Cash Yr 1
-7.7%
$35,653 left in deal
Acquisition Event — First Close
Hard Money Loan — 9.99% Interest-Only
Loan Amount
$191,453
Purchase (95% LTV)
$161,453
Rehab (100%)
$30,000
Loan-to-ARV
76.3%
Monthly Interest
$1,594/mo
Down Payment5% of $169,950 purchase
$8,498+
Origination Fee1 pts on $191,453 loan
$2,500+
Closing Costs5% of purchase
$8,498=
Cash to First Close
$19,495Holding Period — 2 Months
HML Interest9.99% IO · $1,594/mo × 2$3,188
Property Taxes$394/mo × 2$787
Insurance$167/mo × 2$333
Total Holding Costs$4,308
Contingency Reserve10% of rehab — held, not at first close$3,000
DSCR Refinance — Second Close
DSCR Loan Proceeds75% of ARV · 7.1% / 30yr
$188,250−
HML Principal Payofffull IO loan balance
$191,453−
Origination Fee1 pts on $188,250
$1,883−
Closing Coststitle / appraisal / escrow
$3,765=
Cash to Bring to Close
−$8,850Deal Summary
Cash to First Close
$19,495+
Holding Costs (2 mo)
$4,308+
Contingency Reserve
$3,000−
Cash to Bring at Refi
+$8,850=
Capital Left in Deal
$35,653Equity Position — Day 1 Post-Refi
ARV
$251,000−
DSCR Loan Balance
$188,250=
Equity in Property
$62,750 (25.0%)−
Capital Left in Deal
$35,653=
Value Created
$27,097$62,750 equity on $35,653 deployed = 1.8× equity leverage
Monthly Income & Expenses — Post-DSCR
Gross Rent
$1,815−
Property Taxes
$394−
Insurance
$167−
Maintenance (6% rent)
$109−
Management (6% rent)
$109=
OpEx Subtotal
$778=
Net Operating Income
$1,037−
DSCR P&I
$1,265/mo=
Net Cash Flow
−$228/moDSCR Ratios — Cash-Out vs No Cash-Out
Cash-Out Refi
75% of ARV — full LTV
Loan Amount$188,250
Monthly P&I$1,265/mo
Net Cash Flow−$228/mo
Cash Still Required−$8,850
DSCR
0.820x✗ Fail
Lender DSCR
0.994x✗ Fail
No Cash-Out
75.0% LTV — capped short $8,850
Loan Amount$188,250
Monthly P&I$1,265/mo
Net Cash Flow−$228/mo
Cash Still Required−$8,850
DSCR
0.820x✗ Fail
Lender DSCR
0.994x✗ Fail
Required Rent by DSCR Target
| Target | Rent Needed | vs Current |
|---|---|---|
| 1.00x | $2,074/mo | +$259 needed |
| 1.10x | $2,218/mo | +$403 needed |
| 1.20x | $2,362/mo | +$547 needed |
| 1.30x ← | $2,505/mo | +$690 needed |
| 1.40x | $2,649/mo | +$834 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
0.820x
DSCR
Monthly Cash Flow
−$228/mo
Cash-on-Cash Yr 1
-9.1%
$29,965 left in deal
Acquisition Event — First Close
Purchase Price
$169,950+
Rehab Budget
$30,000+
Closing Costs5% of purchase
$8,498=
Total Cash to First Close
$208,448Holding Period — 2 Months
Property Taxes$394/mo × 2$787
Insurance$167/mo × 2$333
Total Holding Costs$1,120
Contingency Reserve10% of rehab — held, not at first close$3,000
DSCR Refinance — Second Close
DSCR Loan Proceeds75% of ARV · 7.1% / 30yr
$188,250−
Origination Fee1 pts on $188,250
$1,883−
Closing Coststitle / appraisal / escrow
$3,765=
Net Cash Recovered
$182,603Deal Summary
Total Cash to First Close
$208,448+
Holding Costs (2 mo)
$1,120+
Contingency Reserve
$3,000−
Net Cash Recovered at Refi
$182,603=
Capital Left in Deal
$29,965Equity Position — Day 1 Post-Refi
ARV
$251,000−
DSCR Loan Balance
$188,250=
Equity in Property
$62,750 (25.0%)−
Capital Left in Deal
$29,965=
Value Created
$32,785$62,750 equity on $29,965 deployed = 2.1× equity leverage
Monthly Income & Expenses — Post-DSCR
Gross Rent
$1,815−
Property Taxes
$394−
Insurance
$167−
Maintenance (6% rent)
$109−
Management (6% rent)
$109=
OpEx Subtotal
$778=
Net Operating Income
$1,037−
DSCR P&I
$1,265/mo=
Net Cash Flow
−$228/moDSCR Ratios — Cash-Out vs No Cash-Out
Cash-Out Refi
75% of ARV — full LTV
Loan Amount$188,250
Monthly P&I$1,265/mo
Net Cash Flow−$228/mo
Cash Still Required−$29,965
DSCR
0.820x✗ Fail
Lender DSCR
0.994x✗ Fail
No Cash-Out
75.0% LTV — capped short $29,965
Loan Amount$188,250
Monthly P&I$1,265/mo
Net Cash Flow−$228/mo
Cash Still Required−$29,965
DSCR
0.820x✗ Fail
Lender DSCR
0.994x✗ Fail
Required Rent by DSCR Target
| Target | Rent Needed | vs Current |
|---|---|---|
| 1.00x | $2,074/mo | +$259 needed |
| 1.10x | $2,218/mo | +$403 needed |
| 1.20x | $2,362/mo | +$547 needed |
| 1.30x ← | $2,505/mo | +$690 needed |
| 1.40x | $2,649/mo | +$834 needed |