2346 Greenglade Ln, Spring, TX 77386
Spring, 77386
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Listing Agent
Francois Delille
(281) 506-2363apm@cozy-homes.com
MMX Group/2346 Greenglade Ln, Spring, TX 77386
Flip-37.1%✗
HM→DSCR1.028x✗
Cash→DSCR1.028x✗
New Deal

2346 Greenglade Ln, Spring, TX 77386

6bd / 3.5ba · 3,302 sqft · built 1981 · Single FamilyAnalyzed Jul 30, 2026
DSCR
1.199x
FAIL
NOI ÷ debt service
Lender DSCR
1.296x
PASS
EGI ÷ P&I+tax+ins+HOA
Monthly Cash Flow
$294/mo
PASS
post all expenses · day 1
Cash to Close
$94,160
80% LTV · single close
Value Generated
$49,900
ARV − purchase − rehab
Starting Equity %
35.7%
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
-37.1%
Flip ROI
Cash to First Close
$30,284
what you bring day 1
Net Profit
−$18,405
Max Bid @ 20%
$250,254
−$18,405 profit  ÷  $49,565 total invested  =  -37.1%
Acquisition Event — First Close
Hard Money Loan — 9.99% Interest-Only
Loan Amount
$278,350
Purchase (95% LTV)
$261,250
Rehab (100%)
$17,100
Loan-to-ARV
81.4%
Monthly Interest
$2,317/mo
Down Payment5% of $275,000 purchase
$13,750
+
Origination Fee1 pts on $278,350 loan
$2,784
+
Closing Costs5% of purchase
$13,750
=
Cash to First Close
$30,284
Holding Period — 6 Months
HML Interest9.99% IO · $2,317/mo × 6$13,904
Property Taxes$368/mo × 6$2,207
Insurance$243/mo × 6$1,461
Total Holding Costs$17,571
Contingency Reserve10% of rehab — held, not at first close$1,710
Sale Event — Second Close
Sale Price (ARV)
$342,000
−
HML Principal Payofffull IO loan balance
$278,350
−
Closing Costs3.5% of sale price
$11,970
−
Realtor Commission6% of sale price
$20,520
=
Net Proceeds to You
$31,160
Deal Summary
Net Proceeds at Closing
$31,160
−
Cash to First Close
$30,284
−
Holding Costs (6 mo)
$17,571
−
Contingency Reserve
$1,710
=
NET PROFIT
−$18,405
Max Bid by ROI Target
ROIMax Bidvs Offer
10%$254,293−$20,707
15%$252,259−$22,741
20% ←$250,254−$24,746
25%$248,278−$26,722
30%$246,329−$28,671
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
1.199x
DSCR
Cash to Close
$94,160
single close · no bridge
Monthly Cash Flow
$294/mo
Cash-on-Cash Yr 1
3.7%
Acquisition — Single Close
DSCR Purchase Loan — 7.1% / 30yr · Minimal Rehab · No Bridge
Loan Amount
$220,000
LTV (80% of ARV)
64.3%
Monthly P&I
$1,478/mo
Equity at Close
$55,000
Down Payment20.0% of $275,000 purchase
$55,000
+
Origination Fee1 pts on $220,000
$2,200
+
DSCR Closing Coststitle / appraisal / escrow
$4,400
+
Acquisition Closing5% of purchase
$13,750
+
Rehab Budgetcash, not financed by DSCR loan
$17,100
Contingency Reserve10% of rehab$1,710
=
Total Cash to Close
$94,160
Equity Position — Day 1 Post-Refi
Property Value
$342,000
−
DSCR Loan Balance
$220,000
=
Equity in Property
$122,000 (35.7%)
−
Capital Left in Deal
$94,160
=
Value Created
$27,840
$122,000 equity on $94,160 deployed = 1.3× equity leverage
Monthly Income & Expenses — Post-DSCR
Gross Rent
$2,709
−
Property Taxes
$368
−
Insurance
$243
−
Maintenance (6% rent)
$163
−
Management (6% rent)
$163
=
OpEx Subtotal
$936
=
Net Operating Income
$1,773
−
DSCR P&I
$1,478/mo
=
Net Cash Flow
$294/mo
DSCR Ratios
DSCR (NOI / Debt Service)
1.199x✗ Fail
Lender DSCR (EGI / P&I+tax+ins+HOA)
1.296x✓ Pass
Required Rent by DSCR Target
TargetRent Neededvs Current
1.00x$2,375/mo✓ met
1.10x$2,543/mo✓ met
1.20x$2,711/mo+$2 needed
1.30x ←$2,879/mo+$170 needed
1.40x$3,047/mo+$338 needed
2346 Greenglade Ln, Spring, TX 77386 — MX Analyzer