10323 Southport Dr, Houston, TX 77089
Houston, 77089
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Listing Agent
Christa Williams
(832) 856-5637christa.williams@exprealty.com
MMX Group/10323 Southport Dr, Houston, TX 77089
Flip-32.6%✗
HM→DSCR0.997x✗
Cash→DSCR0.997x✗
New Deal

10323 Southport Dr, Houston, TX 77089

3bd / 2.5ba · 1,075 sqft · built 1960 · Single FamilyAnalyzed Jul 30, 2026
DSCR
1.175x
FAIL
NOI ÷ debt service
Lender DSCR
1.275x
PASS
EGI ÷ P&I+tax+ins+HOA
Monthly Cash Flow
$164/mo
PASS
post all expenses · day 1
Cash to Close
$60,050
80% LTV · single close
Value Generated
$34,000
ARV − purchase − rehab
Starting Equity %
36.4%
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
-32.6%
Flip ROI
Cash to First Close
$20,000
what you bring day 1
Net Profit
−$10,549
Max Bid @ 20%
$160,882
−$10,549 profit  ÷  $32,399 total invested  =  -32.6%
Acquisition Event — First Close
Hard Money Loan — 9.99% Interest-Only
Loan Amount
$177,250
Purchase (95% LTV)
$166,250
Rehab (100%)
$11,000
Loan-to-ARV
80.6%
Monthly Interest
$1,476/mo
Down Payment5% of $175,000 purchase
$8,750
+
Origination Fee1 pts on $177,250 loan
$2,500
+
Closing Costs5% of purchase
$8,750
=
Cash to First Close
$20,000
Holding Period — 6 Months
HML Interest9.99% IO · $1,476/mo × 6$8,854
Property Taxes$253/mo × 6$1,515
Insurance$155/mo × 6$930
Total Holding Costs$11,299
Contingency Reserve10% of rehab — held, not at first close$1,100
Sale Event — Second Close
Sale Price (ARV)
$220,000
−
HML Principal Payofffull IO loan balance
$177,250
−
Closing Costs3.5% of sale price
$7,700
−
Realtor Commission6% of sale price
$13,200
=
Net Proceeds to You
$21,850
Deal Summary
Net Proceeds at Closing
$21,850
−
Cash to First Close
$20,000
−
Holding Costs (6 mo)
$11,299
−
Contingency Reserve
$1,100
=
NET PROFIT
−$10,549
Max Bid by ROI Target
ROIMax Bidvs Offer
10%$163,487−$11,513
15%$162,175−$12,825
20% ←$160,882−$14,118
25%$159,608−$15,392
30%$158,350−$16,650
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
1.175x
DSCR
Cash to Close
$60,050
single close · no bridge
Monthly Cash Flow
$164/mo
Cash-on-Cash Yr 1
3.3%
Acquisition — Single Close
DSCR Purchase Loan — 7.1% / 30yr · Minimal Rehab · No Bridge
Loan Amount
$140,000
LTV (80% of ARV)
63.6%
Monthly P&I
$941/mo
Equity at Close
$35,000
Down Payment20.0% of $175,000 purchase
$35,000
+
Origination Fee1 pts on $140,000
$1,400
+
DSCR Closing Coststitle / appraisal / escrow
$2,800
+
Acquisition Closing5% of purchase
$8,750
+
Rehab Budgetcash, not financed by DSCR loan
$11,000
Contingency Reserve10% of rehab$1,100
=
Total Cash to Close
$60,050
Equity Position — Day 1 Post-Refi
Property Value
$220,000
−
DSCR Loan Balance
$140,000
=
Equity in Property
$80,000 (36.4%)
−
Capital Left in Deal
$60,050
=
Value Created
$19,950
$80,000 equity on $60,050 deployed = 1.3× equity leverage
Monthly Income & Expenses — Post-DSCR
Gross Rent
$1,719
−
Property Taxes
$253
−
Insurance
$155
−
Maintenance (6% rent)
$103
−
Management (6% rent)
$103
=
OpEx Subtotal
$614
=
Net Operating Income
$1,105
−
DSCR P&I
$941/mo
=
Net Cash Flow
$164/mo
DSCR Ratios
DSCR (NOI / Debt Service)
1.175x✗ Fail
Lender DSCR (EGI / P&I+tax+ins+HOA)
1.275x✓ Pass
Required Rent by DSCR Target
TargetRent Neededvs Current
1.00x$1,532/mo✓ met
1.10x$1,639/mo✓ met
1.20x$1,746/mo+$27 needed
1.30x ←$1,853/mo+$134 needed
1.40x$1,960/mo+$241 needed