1518 Munger St, Houston, TX 77023
Houston, 77023
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Listing Agent
Steven Franco
(832) 631-9104sfranco@francoteamtx.com
MMX Group/1518 Munger St, Houston, TX 77023
Flip74.9%✓
HM→DSCR0.929x✗
Cash→DSCR0.929x✗
New Deal

1518 Munger St, Houston, TX 77023

2bd / 1ba · 1,071 sqft · built 1935 · Single FamilyAnalyzed Jul 30, 2026
DSCR
1.318x
PASS
NOI ÷ debt service
Lender DSCR
1.354x
PASS
EGI ÷ P&I+tax+ins+HOA
Monthly Cash Flow
$259/mo
PASS
post all expenses · day 1
Cash to Close
$54,298
80% LTV · single close
Value Generated
$66,500
ARV − purchase − rehab
Starting Equity %
47.1%
ARV − DSCR loan ÷ ARV, day 1
$
$
$
$
$
$
Scenario 1 — Flip
Hard money loan · sell at ARV after rehab
✅
PASSES FLIP
Min 20% ROI · 6-mo hold
74.9%
Flip ROI
Cash to First Close
$17,700
what you bring day 1
Net Profit
$22,368
Max Bid @ 20%
$167,311
$22,368 profit  ÷  $29,882 total invested  =  74.9%
Acquisition Event — First Close
Hard Money Loan — 9.99% Interest-Only
Loan Amount
$155,900
Purchase (95% LTV)
$144,400
Rehab (100%)
$11,500
Loan-to-ARV
67.8%
Monthly Interest
$1,298/mo
Down Payment5% of $152,000 purchase
$7,600
+
Origination Fee1 pts on $155,900 loan
$2,500
+
Closing Costs5% of purchase
$7,600
=
Cash to First Close
$17,700
Holding Period — 6 Months
HML Interest9.99% IO · $1,298/mo × 6$7,787
Property Taxes$405/mo × 6$2,427
Insurance$136/mo × 6$818
Total Holding Costs$11,032
Contingency Reserve10% of rehab — held, not at first close$1,150
Sale Event — Second Close
Sale Price (ARV)
$230,000
−
HML Principal Payofffull IO loan balance
$155,900
−
Closing Costs3.5% of sale price
$8,050
−
Realtor Commission6% of sale price
$13,800
=
Net Proceeds to You
$52,250
Deal Summary
Net Proceeds at Closing
$52,250
−
Cash to First Close
$17,700
−
Holding Costs (6 mo)
$11,032
−
Contingency Reserve
$1,150
=
NET PROFIT
$22,368
Max Bid by ROI Target
ROIMax Bidvs Offer
10%$170,096✓ ok
15%$168,694✓ ok
20% ←$167,311✓ ok
25%$165,948✓ ok
30%$164,604✓ ok
Scenario 4 — Turn Key DSCR
Direct DSCR purchase · 80% of ARV · 7.1% / 30yr · one close
✅
PASSES DSCR
Min 1.30x · 7.1% / 30-yr DSCR · 80% of ARV
1.318x
DSCR
Cash to Close
$54,298
single close · no bridge
Monthly Cash Flow
$259/mo
Cash-on-Cash Yr 1
5.7%
Acquisition — Single Close
DSCR Purchase Loan — 7.1% / 30yr · Minimal Rehab · No Bridge
Loan Amount
$121,600
LTV (80% of ARV)
52.9%
Monthly P&I
$817/mo
Equity at Close
$30,400
Down Payment20.0% of $152,000 purchase
$30,400
+
Origination Fee1 pts on $121,600
$1,216
+
DSCR Closing Coststitle / appraisal / escrow
$2,432
+
Acquisition Closing5% of purchase
$7,600
+
Rehab Budgetcash, not financed by DSCR loan
$11,500
Contingency Reserve10% of rehab$1,150
=
Total Cash to Close
$54,298
Equity Position — Day 1 Post-Refi
Property Value
$230,000
−
DSCR Loan Balance
$121,600
=
Equity in Property
$108,400 (47.1%)
−
Capital Left in Deal
$54,298
=
Value Created
$54,102
$108,400 equity on $54,298 deployed = 2.0× equity leverage
Monthly Income & Expenses — Post-DSCR
Gross Rent
$1,838
−
Property Taxes
$405
−
Insurance
$136
−
Maintenance (6% rent)
$110
−
Management (6% rent)
$110
=
OpEx Subtotal
$761
=
Net Operating Income
$1,077
−
DSCR P&I
$817/mo
=
Net Cash Flow
$259/mo
DSCR Ratios
DSCR (NOI / Debt Service)
1.318x✓ Pass
Lender DSCR (EGI / P&I+tax+ins+HOA)
1.354x✓ Pass
Required Rent by DSCR Target
TargetRent Neededvs Current
1.00x$1,543/mo✓ met
1.10x$1,636/mo✓ met
1.20x$1,729/mo✓ met
1.30x ←$1,822/mo✓ met
1.40x$1,915/mo+$77 needed