9200 W Bellfort Ave, Houston, TX 77031
2bd / 2.5ba · 1,120 sqft · built 1979 · Condo/TownhomeAnalyzed Jul 27, 2026$
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Scenario 1 — Flip
Hard money loan · sell at ARV after rehab
✅
PASSES FLIP
Min 20% ROI · 6-mo hold
21.5%
Flip ROI
Cash to First Close
$11,000
what you bring day 1
Net Profit
$4,448
Max Bid @ 20%
$86,948
$4,448 profit ÷ $20,643 total invested = 21.5%
Acquisition Event — First Close
Hard Money Loan — 9.99% Interest-Only
Loan Amount
$90,749
Purchase (95% LTV)
$80,749
Rehab (100%)
$10,000
Loan-to-ARV
70.9%
Monthly Interest
$755/mo
Down Payment5% of $84,999 purchase
$4,250+
Origination Fee1 pts on $90,749 loan
$2,500+
Closing Costs5% of purchase
$4,250=
Cash to First Close
$11,000Holding Period — 6 Months
HML Interest9.99% IO · $755/mo × 6$4,533
Property Taxes$206/mo × 6$1,236
Insurance$79/mo × 6$475
HOA$400/mo × 6$2,400
Total Holding Costs$8,643
Contingency Reserve10% of rehab — held, not at first close$1,000
Sale Event — Second Close
Sale Price (ARV)
$128,000−
HML Principal Payofffull IO loan balance
$90,749−
Closing Costs3.5% of sale price
$4,480−
Realtor Commission6% of sale price
$7,680=
Net Proceeds to You
$25,091Deal Summary
Net Proceeds at Closing
$25,091−
Cash to First Close
$11,000−
Holding Costs (6 mo)
$8,643−
Contingency Reserve
$1,000=
NET PROFIT
$4,448Max Bid by ROI Target
| ROI | Max Bid | vs Offer |
|---|---|---|
| 10% | $88,664 | ✓ ok |
| 15% | $87,800 | ✓ ok |
| 20% ← | $86,948 | ✓ ok |
| 25% | $86,107 | ✓ ok |
| 30% | $85,279 | ✓ 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
0.769x
DSCR
Monthly Cash Flow
−$149/mo
Cash-on-Cash Yr 1
-14.3%
$12,510 left in deal
Acquisition Event — First Close
Hard Money Loan — 9.99% Interest-Only
Loan Amount
$90,749
Purchase (95% LTV)
$80,749
Rehab (100%)
$10,000
Loan-to-ARV
70.9%
Monthly Interest
$755/mo
Down Payment5% of $84,999 purchase
$4,250+
Origination Fee1 pts on $90,749 loan
$2,500+
Closing Costs5% of purchase
$4,250=
Cash to First Close
$11,000Holding Period — 2 Months
HML Interest9.99% IO · $755/mo × 2$1,511
Property Taxes$206/mo × 2$412
Insurance$79/mo × 2$158
HOA$400/mo × 2$800
Total Holding Costs$2,881
Contingency Reserve10% of rehab — held, not at first close$1,000
DSCR Refinance — Second Close
DSCR Loan Proceeds75% of ARV · 7.1% / 30yr
$96,000−
HML Principal Payofffull IO loan balance
$90,749−
Origination Fee1 pts on $96,000
$960−
Closing Coststitle / appraisal / escrow
$1,920=
Cash Back to You
+$2,371Deal Summary
Cash to First Close
$11,000+
Holding Costs (2 mo)
$2,881+
Contingency Reserve
$1,000−
Cash Back at Refi
−$2,371=
Capital Left in Deal
$12,510Equity Position — Day 1 Post-Refi
ARV
$128,000−
DSCR Loan Balance
$96,000=
Equity in Property
$32,000 (25.0%)−
Capital Left in Deal
$12,510=
Value Created
$19,490$32,000 equity on $12,510 deployed = 2.6× equity leverage
Monthly Income & Expenses — Post-DSCR
Gross Rent
$1,342−
Property Taxes
$206−
Insurance
$79−
Maintenance (6% rent)
$81−
Management (6% rent)
$81−
HOA
$400=
OpEx Subtotal
$846=
Net Operating Income
$496−
DSCR P&I
$645/mo=
Net Cash Flow
−$149/moDSCR Ratios — Cash-Out vs No Cash-Out
Cash-Out Refi
75% of ARV — full LTV
Loan Amount$96,000
Monthly P&I$645/mo
Net Cash Flow−$149/mo
Cash Back at Refi+$2,371
DSCR
0.769x✗ Fail
Lender DSCR
1.009x✓ Pass
No Cash-Out
73.1% LTV — breakeven refi
Loan Amount$93,556
Monthly P&I$629/mo
Net Cash Flow−$133/mo
Cash Back at Refi+$0
DSCR
0.789x✗ Fail
Lender DSCR
1.021x✓ Pass
Required Rent by DSCR Target
| Target | Rent Needed | vs Current |
|---|---|---|
| 1.00x | $1,512/mo | +$170 needed |
| 1.10x | $1,585/mo | +$243 needed |
| 1.20x | $1,658/mo | +$316 needed |
| 1.30x ← | $1,732/mo | +$390 needed |
| 1.40x | $1,805/mo | +$463 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
0.769x
DSCR
Monthly Cash Flow
−$149/mo
Cash-on-Cash Yr 1
-21.1%
$8,499 left in deal
Acquisition Event — First Close
Purchase Price
$84,999+
Rehab Budget
$10,000+
Closing Costs5% of purchase
$4,250=
Total Cash to First Close
$99,249Holding Period — 2 Months
Property Taxes$206/mo × 2$412
Insurance$79/mo × 2$158
HOA$400/mo × 2$800
Total Holding Costs$1,370
Contingency Reserve10% of rehab — held, not at first close$1,000
DSCR Refinance — Second Close
DSCR Loan Proceeds75% of ARV · 7.1% / 30yr
$96,000−
Origination Fee1 pts on $96,000
$960−
Closing Coststitle / appraisal / escrow
$1,920=
Net Cash Recovered
$93,120Deal Summary
Total Cash to First Close
$99,249+
Holding Costs (2 mo)
$1,370+
Contingency Reserve
$1,000−
Net Cash Recovered at Refi
$93,120=
Capital Left in Deal
$8,499Equity Position — Day 1 Post-Refi
ARV
$128,000−
DSCR Loan Balance
$96,000=
Equity in Property
$32,000 (25.0%)−
Capital Left in Deal
$8,499=
Value Created
$23,501$32,000 equity on $8,499 deployed = 3.8× equity leverage
Monthly Income & Expenses — Post-DSCR
Gross Rent
$1,342−
Property Taxes
$206−
Insurance
$79−
Maintenance (6% rent)
$81−
Management (6% rent)
$81−
HOA
$400=
OpEx Subtotal
$846=
Net Operating Income
$496−
DSCR P&I
$645/mo=
Net Cash Flow
−$149/moDSCR Ratios — Cash-Out vs No Cash-Out
Cash-Out Refi
75% of ARV — full LTV
Loan Amount$96,000
Monthly P&I$645/mo
Net Cash Flow−$149/mo
Cash Still Required−$8,499
DSCR
0.769x✗ Fail
Lender DSCR
1.009x✓ Pass
No Cash-Out
75.0% LTV — capped short $8,499
Loan Amount$96,000
Monthly P&I$645/mo
Net Cash Flow−$149/mo
Cash Still Required−$8,499
DSCR
0.769x✗ Fail
Lender DSCR
1.009x✓ Pass
Required Rent by DSCR Target
| Target | Rent Needed | vs Current |
|---|---|---|
| 1.00x | $1,512/mo | +$170 needed |
| 1.10x | $1,585/mo | +$243 needed |
| 1.20x | $1,658/mo | +$316 needed |
| 1.30x ← | $1,732/mo | +$390 needed |
| 1.40x | $1,805/mo | +$463 needed |