2422 Chapis St, Houston, TX 77093
Houston, 77093
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Listing Agent
Steven Franco
(832) 631-9104sfranco@francoteamtx.com
MMX Group/2422 Chapis St, Houston, TX 77093
Flip15.0%✗
HM→DSCR1.075x✗
Cash→DSCR1.075x✗
New Deal

2422 Chapis St, Houston, TX 77093

4bd / 2ba · 1,484 sqft · built 1940 · Single FamilyAnalyzed Jul 30, 2026
DSCR
1.375x
PASS
NOI ÷ debt service
Lender DSCR
1.428x
PASS
EGI ÷ P&I+tax+ins+HOA
Monthly Cash Flow
$333/mo
PASS
post all expenses · day 1
Cash to Close
$57,585
80% LTV · single close
Value Generated
$48,750
ARV − purchase − rehab
Starting Equity %
41.3%
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
15.0%
Flip ROI
Cash to First Close
$19,000
what you bring day 1
Net Profit
$4,658
Max Bid @ 20%
$164,518
$4,658 profit  ÷  $30,967 total invested  =  15.0%
Acquisition Event — First Close
Hard Money Loan — 9.99% Interest-Only
Loan Amount
$168,000
Purchase (95% LTV)
$156,750
Rehab (100%)
$11,250
Loan-to-ARV
74.7%
Monthly Interest
$1,399/mo
Down Payment5% of $165,000 purchase
$8,250
+
Origination Fee1 pts on $168,000 loan
$2,500
+
Closing Costs5% of purchase
$8,250
=
Cash to First Close
$19,000
Holding Period — 6 Months
HML Interest9.99% IO · $1,399/mo × 6$8,392
Property Taxes$262/mo × 6$1,569
Insurance$147/mo × 6$881
Total Holding Costs$10,842
Contingency Reserve10% of rehab — held, not at first close$1,125
Sale Event — Second Close
Sale Price (ARV)
$225,000
−
HML Principal Payofffull IO loan balance
$168,000
−
Closing Costs3.5% of sale price
$7,875
−
Realtor Commission6% of sale price
$13,500
=
Net Proceeds to You
$35,625
Deal Summary
Net Proceeds at Closing
$35,625
−
Cash to First Close
$19,000
−
Holding Costs (6 mo)
$10,842
−
Contingency Reserve
$1,125
=
NET PROFIT
$4,658
Max Bid by ROI Target
ROIMax Bidvs Offer
10%$167,184✓ ok
15%$165,841✓ ok
20% ←$164,518−$482
25%$163,214−$1,786
30%$161,927−$3,073
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
1.375x
DSCR
Cash to Close
$57,585
single close · no bridge
Monthly Cash Flow
$333/mo
Cash-on-Cash Yr 1
6.9%
Acquisition — Single Close
DSCR Purchase Loan — 7.1% / 30yr · Minimal Rehab · No Bridge
Loan Amount
$132,000
LTV (80% of ARV)
58.7%
Monthly P&I
$887/mo
Equity at Close
$33,000
Down Payment20.0% of $165,000 purchase
$33,000
+
Origination Fee1 pts on $132,000
$1,320
+
DSCR Closing Coststitle / appraisal / escrow
$2,640
+
Acquisition Closing5% of purchase
$8,250
+
Rehab Budgetcash, not financed by DSCR loan
$11,250
Contingency Reserve10% of rehab$1,125
=
Total Cash to Close
$57,585
Equity Position — Day 1 Post-Refi
Property Value
$225,000
−
DSCR Loan Balance
$132,000
=
Equity in Property
$93,000 (41.3%)
−
Capital Left in Deal
$57,585
=
Value Created
$35,415
$93,000 equity on $57,585 deployed = 1.6× equity leverage
Monthly Income & Expenses — Post-DSCR
Gross Rent
$1,850
−
Property Taxes
$262
−
Insurance
$147
−
Maintenance (6% rent)
$111
−
Management (6% rent)
$111
=
OpEx Subtotal
$630
=
Net Operating Income
$1,220
−
DSCR P&I
$887/mo
=
Net Cash Flow
$333/mo
DSCR Ratios
DSCR (NOI / Debt Service)
1.375x✓ Pass
Lender DSCR (EGI / P&I+tax+ins+HOA)
1.428x✓ Pass
Required Rent by DSCR Target
TargetRent Neededvs Current
1.00x$1,472/mo✓ met
1.10x$1,573/mo✓ met
1.20x$1,674/mo✓ met
1.30x ←$1,775/mo✓ met
1.40x$1,875/mo+$25 needed