1015 Stevens Ave, Conroe, TX 77301
Conroe, 77301
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Listing Agent
Deanna Parsons
(832) 444-8219deanna@hillandassocs.com
MMX Group/1015 Stevens Ave, Conroe, TX 77301
Flip-141.6%✗
HM→DSCR0.994x✗
Cash→DSCR0.994x✗
New Deal

1015 Stevens Ave, Conroe, TX 77301

3bd / 2ba · 1,912 sqft · built 1970 · Single FamilyAnalyzed Jul 30, 2026
DSCR
1.032x
FAIL
NOI ÷ debt service
Lender DSCR
1.161x
PASS
EGI ÷ P&I+tax+ins+HOA
Monthly Cash Flow
$32/mo
PASS
post all expenses · day 1
Cash to Close
$78,190
80% LTV · single close
Value Generated
$5,000
ARV − purchase − rehab
Starting Equity %
27.8%
ARV − DSCR loan ÷ ARV, day 1
$
$
$
$
$
$
Scenario 1 — Flip
Hard money loan · sell at ARV after rehab
❌
FAILS FLIP
Min 20% ROI · 6-mo hold
-141.6%
Flip ROI
Cash to First Close
$21,000
what you bring day 1
Net Profit
−$51,821
Max Bid @ 20%
$133,836
−$51,821 profit  ÷  $36,596 total invested  =  -141.6%
Acquisition Event — First Close
Hard Money Loan — 9.99% Interest-Only
Loan Amount
$200,750
Purchase (95% LTV)
$175,750
Rehab (100%)
$25,000
Loan-to-ARV
97.9%
Monthly Interest
$1,671/mo
Down Payment5% of $185,000 purchase
$9,250
+
Origination Fee1 pts on $200,750 loan
$2,500
+
Closing Costs5% of purchase
$9,250
=
Cash to First Close
$21,000
Holding Period — 6 Months
HML Interest9.99% IO · $1,671/mo × 6$10,027
Property Taxes$336/mo × 6$2,019
Insurance$175/mo × 6$1,050
Total Holding Costs$13,096
Contingency Reserve10% of rehab — held, not at first close$2,500
Sale Event — Second Close
Sale Price (ARV)
$205,000
−
HML Principal Payofffull IO loan balance
$200,750
−
Closing Costs3.5% of sale price
$7,175
−
Realtor Commission6% of sale price
$12,300
=
Net Proceeds to You
−$15,225
Deal Summary
Net Proceeds at Closing
−$15,225
−
Cash to First Close
$21,000
−
Holding Costs (6 mo)
$13,096
−
Contingency Reserve
$2,500
=
NET PROFIT
−$51,821
Max Bid by ROI Target
ROIMax Bidvs Offer
10%$136,302−$48,698
15%$135,060−$49,940
20% ←$133,836−$51,164
25%$132,629−$52,371
30%$131,439−$53,561
Scenario 4 — Turn Key DSCR
Direct DSCR purchase · 80% of ARV · 7.1% / 30yr · one close
❌
FAILS DSCR
Min 1.30x · 7.1% / 30-yr DSCR · 80% of ARV
1.032x
DSCR
Cash to Close
$78,190
single close · no bridge
Monthly Cash Flow
$32/mo
Cash-on-Cash Yr 1
0.5%
Acquisition — Single Close
DSCR Purchase Loan — 7.1% / 30yr · Minimal Rehab · No Bridge
Loan Amount
$148,000
LTV (80% of ARV)
72.2%
Monthly P&I
$995/mo
Equity at Close
$37,000
Down Payment20.0% of $185,000 purchase
$37,000
+
Origination Fee1 pts on $148,000
$1,480
+
DSCR Closing Coststitle / appraisal / escrow
$2,960
+
Acquisition Closing5% of purchase
$9,250
+
Rehab Budgetcash, not financed by DSCR loan
$25,000
Contingency Reserve10% of rehab$2,500
=
Total Cash to Close
$78,190
Equity Position — Day 1 Post-Refi
Property Value
$205,000
−
DSCR Loan Balance
$148,000
=
Equity in Property
$57,000 (27.8%)
−
Capital Left in Deal
$78,190
=
Value Created
−$21,190
$57,000 equity on $78,190 deployed = 0.7× equity leverage
Monthly Income & Expenses — Post-DSCR
Gross Rent
$1,748
−
Property Taxes
$336
−
Insurance
$175
−
Maintenance (6% rent)
$105
−
Management (6% rent)
$105
=
OpEx Subtotal
$721
=
Net Operating Income
$1,027
−
DSCR P&I
$995/mo
=
Net Cash Flow
$32/mo
DSCR Ratios
DSCR (NOI / Debt Service)
1.032x✗ Fail
Lender DSCR (EGI / P&I+tax+ins+HOA)
1.161x✓ Pass
Required Rent by DSCR Target
TargetRent Neededvs Current
1.00x$1,711/mo✓ met
1.10x$1,824/mo+$76 needed
1.20x$1,937/mo+$189 needed
1.30x ←$2,050/mo+$302 needed
1.40x$2,163/mo+$415 needed
1015 Stevens Ave, Conroe, TX 77301 — MX Analyzer