11903 Atwell Dr, Houston, TX 77035
Houston, 77035
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Listing Agent
Michael Mccormick
(281) 220-1000michael@networthhouston.com
MMX Group/11903 Atwell Dr, Houston, TX 77035
Flip-159.6%✗
HM→DSCR0.723x✗
Cash→DSCR0.723x✗
New Deal

11903 Atwell Dr, Houston, TX 77035

4bd / 2ba · 1,986 sqft · built 1965 · Single FamilyAnalyzed Jul 30, 2026
DSCR
0.678x
FAIL
NOI ÷ debt service
Lender DSCR
0.893x
FAIL
EGI ÷ P&I+tax+ins+HOA
Monthly Cash Flow
−$563/mo
FAIL
post all expenses · day 1
Cash to Close
$112,070
80% LTV · single close
Value Generated
$21,150
ARV − purchase − rehab
Starting Equity %
20.0%
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
-159.6%
Flip ROI
Cash to First Close
$36,287
what you bring day 1
Net Profit
−$95,168
Max Bid @ 20%
$236,313
−$95,168 profit  ÷  $59,638 total invested  =  -159.6%
Acquisition Event — First Close
Hard Money Loan — 9.99% Interest-Only
Loan Amount
$329,655
Purchase (95% LTV)
$313,405
Rehab (100%)
$16,250
Loan-to-ARV
101.4%
Monthly Interest
$2,744/mo
Down Payment5% of $329,900 purchase
$16,495
+
Origination Fee1 pts on $329,655 loan
$3,297
+
Closing Costs5% of purchase
$16,495
=
Cash to First Close
$36,287
Holding Period — 6 Months
HML Interest9.99% IO · $2,744/mo × 6$16,466
Property Taxes$588/mo × 6$3,529
Insurance$288/mo × 6$1,731
Total Holding Costs$21,726
Contingency Reserve10% of rehab — held, not at first close$1,625
Sale Event — Second Close
Sale Price (ARV)
$325,000
−
HML Principal Payofffull IO loan balance
$329,655
−
Closing Costs3.5% of sale price
$11,375
−
Realtor Commission6% of sale price
$19,500
=
Net Proceeds to You
−$35,530
Deal Summary
Net Proceeds at Closing
−$35,530
−
Cash to First Close
$36,287
−
Holding Costs (6 mo)
$21,726
−
Contingency Reserve
$1,625
=
NET PROFIT
−$95,168
Max Bid by ROI Target
ROIMax Bidvs Offer
10%$240,256−$89,644
15%$238,271−$91,629
20% ←$236,313−$93,587
25%$234,384−$95,516
30%$232,481−$97,419
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
0.678x
DSCR
Cash to Close
$112,070
single close · no bridge
Monthly Cash Flow
−$563/mo
Cash-on-Cash Yr 1
-6.0%
Acquisition — Single Close
DSCR Purchase Loan — 7.1% / 30yr · Minimal Rehab · No Bridge
Loan Amount
$260,000
LTV (80% of ARV)
80.0%
Monthly P&I
$1,747/mo
Equity at Close
$65,000
Down Payment21.2% of $329,900 purchase
$69,900
+
Origination Fee1 pts on $260,000
$2,600
+
DSCR Closing Coststitle / appraisal / escrow
$5,200
+
Acquisition Closing5% of purchase
$16,495
+
Rehab Budgetcash, not financed by DSCR loan
$16,250
Contingency Reserve10% of rehab$1,625
=
Total Cash to Close
$112,070
Equity Position — Day 1 Post-Refi
Property Value
$325,000
−
DSCR Loan Balance
$260,000
=
Equity in Property
$65,000 (20.0%)
−
Capital Left in Deal
$112,070
=
Value Created
−$47,070
$65,000 equity on $112,070 deployed = 0.6× equity leverage
Monthly Income & Expenses — Post-DSCR
Gross Rent
$2,342
−
Property Taxes
$588
−
Insurance
$288
−
Maintenance (6% rent)
$141
−
Management (6% rent)
$141
=
OpEx Subtotal
$1,158
=
Net Operating Income
$1,184
−
DSCR P&I
$1,747/mo
=
Net Cash Flow
−$563/mo
DSCR Ratios
DSCR (NOI / Debt Service)
0.678x✗ Fail
Lender DSCR (EGI / P&I+tax+ins+HOA)
0.893x✗ Fail
Required Rent by DSCR Target
TargetRent Neededvs Current
1.00x$2,982/mo+$640 needed
1.10x$3,180/mo+$838 needed
1.20x$3,379/mo+$1,037 needed
1.30x ←$3,577/mo+$1,235 needed
1.40x$3,776/mo+$1,434 needed