802 Chowning Rd, Houston, TX 77024
5bd / 5ba · 4,545 sqft · built 1962 · Single Family (SFR)Analyzed Jun 16, 2026$
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Scenario 1 — Flip
Hard money loan · sell at ARV after rehab
✅
PASSES FLIP
Min 20% ROI · 6-mo hold
308.1%
Flip ROI
Cash to First Close
$265,705
what you bring day 1
Net Profit
$1,463,675
Max Bid @ 20%
$3,586,036
$1,463,675 profit ÷ $474,991 total invested = 308.1%
Acquisition Event — First Close
Hard Money Loan — 9.99% Interest-Only
Loan Amount
$2,670,499
Purchase (95% LTV)
$2,270,499
Rehab (100%)
$400,000
Loan-to-ARV
52.4%
Monthly Interest
$22,232/mo
Down Payment5% of $2,389,999 purchase
$119,500+
Origination Fee1 pts on $2,670,499 loan
$26,705+
Closing Costs5% of purchase
$119,500=
Cash to First Close
$265,705Holding Period — 6 Months
HML Interest9.99% IO · $22,232/mo × 6$133,391
Property Taxes$3,658/mo × 6$21,945
Insurance$2,325/mo × 6$13,950
Total Holding Costs$169,286
Contingency Reserve10% of rehab — held, not at first close$40,000
Sale Event — Second Close
Sale Price (ARV)
$5,093,000−
HML Principal Payofffull IO loan balance
$2,670,499−
Closing Costs3.5% of sale price
$178,255−
Realtor Commission6% of sale price
$305,580=
Net Proceeds to You
$1,938,666Deal Summary
Net Proceeds at Closing
$1,938,666−
Cash to First Close
$265,705−
Holding Costs (6 mo)
$169,286−
Contingency Reserve
$40,000=
NET PROFIT
$1,463,675Max Bid by ROI Target
| ROI | Max Bid | vs Offer |
|---|---|---|
| 10% | $3,645,309 | ✓ ok |
| 15% | $3,615,461 | ✓ ok |
| 20% ← | $3,586,036 | ✓ ok |
| 25% | $3,557,024 | ✓ ok |
| 30% | $3,528,417 | ✓ 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
-0.020x
DSCR
Monthly Cash Flow
−$26,182/mo
Cash-on-Cash Yr 1
N/A
−$672,525 left in deal
Acquisition Event — First Close
Hard Money Loan — 9.99% Interest-Only
Loan Amount
$2,670,499
Purchase (95% LTV)
$2,270,499
Rehab (100%)
$400,000
Loan-to-ARV
52.4%
Monthly Interest
$22,232/mo
Down Payment5% of $2,389,999 purchase
$119,500+
Origination Fee1 pts on $2,670,499 loan
$26,705+
Closing Costs5% of purchase
$119,500=
Cash to First Close
$265,705Holding Period — 2 Months
HML Interest9.99% IO · $22,232/mo × 2$44,464
Property Taxes$3,658/mo × 2$7,315
Insurance$2,325/mo × 2$4,650
Total Holding Costs$56,429
Contingency Reserve10% of rehab — held, not at first close$40,000
DSCR Refinance — Second Close
DSCR Loan Proceeds75% of ARV · 7.1% / 30yr
$3,819,750−
HML Principal Payofffull IO loan balance
$2,670,499−
Origination Fee1 pts on $3,819,750
$38,198−
Closing Coststitle / appraisal / escrow
$76,395=
Cash Back to You
+$1,034,658Deal Summary
Cash to First Close
$265,705+
Holding Costs (2 mo)
$56,429+
Contingency Reserve
$40,000−
Cash Back at Refi
−$1,034,658=
Capital Left in Deal
−$672,525Equity Position — Day 1 Post-Refi
ARV
$5,093,000−
DSCR Loan Balance
$3,819,750=
Equity in Property
$1,273,250 (25.0%)−
Capital Left in Deal
−$672,525=
Value Created
$1,945,775Monthly Income & Expenses — Post-DSCR
Gross Rent
$6,216−
Property Taxes
$3,658−
Insurance
$2,325−
Maintenance (6% rent)
$373−
Management (6% rent)
$373=
OpEx Subtotal
$6,728=
Net Operating Income
−$512−
DSCR P&I
$25,670/mo=
Net Cash Flow
−$26,182/moDSCR Ratios — Cash-Out vs No Cash-Out
Cash-Out Refi
75% of ARV — full LTV
Loan Amount$3,819,750
Monthly P&I$25,670/mo
Net Cash Flow−$26,182/mo
Cash Back at Refi+$1,034,658
DSCR
-0.020x✗ Fail
Lender DSCR
0.196x✗ Fail
No Cash-Out
54.1% LTV — breakeven refi
Loan Amount$2,753,092
Monthly P&I$18,502/mo
Net Cash Flow−$19,014/mo
Cash Back at Refi+$0
DSCR
-0.028x✗ Fail
Lender DSCR
0.254x✗ Fail
Required Rent by DSCR Target
| Target | Rent Needed | vs Current |
|---|---|---|
| 1.00x | $35,969/mo | +$29,753 needed |
| 1.10x | $38,886/mo | +$32,670 needed |
| 1.20x | $41,803/mo | +$35,587 needed |
| 1.30x ← | $44,720/mo | +$38,504 needed |
| 1.40x | $47,637/mo | +$41,421 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
-0.020x
DSCR
Monthly Cash Flow
−$26,182/mo
Cash-on-Cash Yr 1
N/A
−$743,694 left in deal
Acquisition Event — First Close
Purchase Price
$2,389,999+
Rehab Budget
$400,000+
Closing Costs5% of purchase
$119,500=
Total Cash to First Close
$2,909,499Holding Period — 2 Months
Property Taxes$3,658/mo × 2$7,315
Insurance$2,325/mo × 2$4,650
Total Holding Costs$11,965
Contingency Reserve10% of rehab — held, not at first close$40,000
DSCR Refinance — Second Close
DSCR Loan Proceeds75% of ARV · 7.1% / 30yr
$3,819,750−
Origination Fee1 pts on $3,819,750
$38,198−
Closing Coststitle / appraisal / escrow
$76,395=
Net Cash Recovered
$3,705,158Deal Summary
Total Cash to First Close
$2,909,499+
Holding Costs (2 mo)
$11,965+
Contingency Reserve
$40,000−
Net Cash Recovered at Refi
$3,705,158=
Capital Left in Deal
−$743,694Equity Position — Day 1 Post-Refi
ARV
$5,093,000−
DSCR Loan Balance
$3,819,750=
Equity in Property
$1,273,250 (25.0%)−
Capital Left in Deal
−$743,694=
Value Created
$2,016,944Monthly Income & Expenses — Post-DSCR
Gross Rent
$6,216−
Property Taxes
$3,658−
Insurance
$2,325−
Maintenance (6% rent)
$373−
Management (6% rent)
$373=
OpEx Subtotal
$6,728=
Net Operating Income
−$512−
DSCR P&I
$25,670/mo=
Net Cash Flow
−$26,182/moDSCR Ratios — Cash-Out vs No Cash-Out
Cash-Out Refi
75% of ARV — full LTV
Loan Amount$3,819,750
Monthly P&I$25,670/mo
Net Cash Flow−$26,182/mo
Cash Back at Refi+$743,694
DSCR
-0.020x✗ Fail
Lender DSCR
0.196x✗ Fail
No Cash-Out
59.9% LTV — breakeven refi
Loan Amount$3,053,056
Monthly P&I$20,518/mo
Net Cash Flow−$21,030/mo
Cash Back at Refi+$0
DSCR
-0.025x✗ Fail
Lender DSCR
0.235x✗ Fail
Required Rent by DSCR Target
| Target | Rent Needed | vs Current |
|---|---|---|
| 1.00x | $35,969/mo | +$29,753 needed |
| 1.10x | $38,886/mo | +$32,670 needed |
| 1.20x | $41,803/mo | +$35,587 needed |
| 1.30x ← | $44,720/mo | +$38,504 needed |
| 1.40x | $47,637/mo | +$41,421 needed |