1604 Daylight Lake Dr, Katy, TX 77493
Katy, 77493
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Listing Agent
Helen Van Slyke
(832) 451-9377h.vanslyke@yahoo.com
MMX Group/1604 Daylight Lake Dr, Katy, TX 77493
Flip-137.5%✗
HM→DSCR0.432x✗
Cash→DSCR0.432x✗
New Deal

1604 Daylight Lake Dr, Katy, TX 77493

4bd / 2ba · 1,862 sqft · built 2023 · Single FamilyAnalyzed Jul 30, 2026
DSCR
0.416x
FAIL
NOI ÷ debt service
Lender DSCR
0.746x
FAIL
EGI ÷ P&I+tax+ins+HOA
Monthly Cash Flow
−$988/mo
FAIL
post all expenses · day 1
Cash to Close
$104,103
80% LTV · single close
Value Generated
$7,100
ARV − purchase − rehab
Starting Equity %
22.2%
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
-137.5%
Flip ROI
Cash to First Close
$34,644
what you bring day 1
Net Profit
−$81,236
Max Bid @ 20%
$233,582
−$81,236 profit  ÷  $59,101 total invested  =  -137.5%
Acquisition Event — First Close
Hard Money Loan — 9.99% Interest-Only
Loan Amount
$315,355
Purchase (95% LTV)
$299,155
Rehab (100%)
$16,200
Loan-to-ARV
97.3%
Monthly Interest
$2,625/mo
Down Payment5% of $314,900 purchase
$15,745
+
Origination Fee1 pts on $315,355 loan
$3,154
+
Closing Costs5% of purchase
$15,745
=
Cash to First Close
$34,644
Holding Period — 6 Months
HML Interest9.99% IO · $2,625/mo × 6$15,752
Property Taxes$905/mo × 6$5,430
Insurance$276/mo × 6$1,656
Total Holding Costs$22,837
Contingency Reserve10% of rehab — held, not at first close$1,620
Sale Event — Second Close
Sale Price (ARV)
$324,000
−
HML Principal Payofffull IO loan balance
$315,355
−
Closing Costs3.5% of sale price
$11,340
−
Realtor Commission6% of sale price
$19,440
=
Net Proceeds to You
−$22,135
Deal Summary
Net Proceeds at Closing
−$22,135
−
Cash to First Close
$34,644
−
Holding Costs (6 mo)
$22,837
−
Contingency Reserve
$1,620
=
NET PROFIT
−$81,236
Max Bid by ROI Target
ROIMax Bidvs Offer
10%$237,653−$77,247
15%$235,603−$79,297
20% ←$233,582−$81,318
25%$231,589−$83,311
30%$229,624−$85,276
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
0.416x
DSCR
Cash to Close
$104,103
single close · no bridge
Monthly Cash Flow
−$988/mo
Cash-on-Cash Yr 1
-11.4%
Acquisition — Single Close
DSCR Purchase Loan — 7.1% / 30yr · Minimal Rehab · No Bridge
Loan Amount
$251,920
LTV (80% of ARV)
77.8%
Monthly P&I
$1,693/mo
Equity at Close
$62,980
Down Payment20.0% of $314,900 purchase
$62,980
+
Origination Fee1 pts on $251,920
$2,519
+
DSCR Closing Coststitle / appraisal / escrow
$5,038
+
Acquisition Closing5% of purchase
$15,745
+
Rehab Budgetcash, not financed by DSCR loan
$16,200
Contingency Reserve10% of rehab$1,620
=
Total Cash to Close
$104,103
Equity Position — Day 1 Post-Refi
Property Value
$324,000
−
DSCR Loan Balance
$251,920
=
Equity in Property
$72,080 (22.2%)
−
Capital Left in Deal
$104,103
=
Value Created
−$32,023
$72,080 equity on $104,103 deployed = 0.7× equity leverage
Monthly Income & Expenses — Post-DSCR
Gross Rent
$2,143
−
Property Taxes
$905
−
Insurance
$276
−
Maintenance (6% rent)
$129
−
Management (6% rent)
$129
=
OpEx Subtotal
$1,438
=
Net Operating Income
$705
−
DSCR P&I
$1,693/mo
=
Net Cash Flow
−$988/mo
DSCR Ratios
DSCR (NOI / Debt Service)
0.416x✗ Fail
Lender DSCR (EGI / P&I+tax+ins+HOA)
0.746x✗ Fail
Required Rent by DSCR Target
TargetRent Neededvs Current
1.00x$3,266/mo+$1,123 needed
1.10x$3,458/mo+$1,315 needed
1.20x$3,651/mo+$1,508 needed
1.30x ←$3,843/mo+$1,700 needed
1.40x$4,035/mo+$1,892 needed