3914 Ajax St, Houston, TX 77022
Houston, 77022
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Listing Agent
Daisy Darby Lane
(713) 898-7600ddarbylane@comcast.net
MMX Group/3914 Ajax St, Houston, TX 77022
Flip392.4%✓
HM→DSCR0.464x✗
Cash→DSCR0.464x✗
New Deal

3914 Ajax St, Houston, TX 77022

3bd / 2ba · 1,660 sqft · built 1952 · Single FamilyAnalyzed Jul 30, 2026
DSCR
0.972x
FAIL
NOI ÷ debt service
Lender DSCR
1.115x
PASS
EGI ÷ P&I+tax+ins+HOA
Monthly Cash Flow
−$23/mo
FAIL
post all expenses · day 1
Cash to Close
$62,323
80% LTV · single close
Value Generated
$176,450
ARV − purchase − rehab
Starting Equity %
64.2%
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
392.4%
Flip ROI
Cash to First Close
$18,200
what you bring day 1
Net Profit
$120,300
Max Bid @ 20%
$257,642
$120,300 profit  ÷  $30,655 total invested  =  392.4%
Acquisition Event — First Close
Hard Money Loan — 9.99% Interest-Only
Loan Amount
$166,700
Purchase (95% LTV)
$149,150
Rehab (100%)
$17,550
Loan-to-ARV
47.5%
Monthly Interest
$1,388/mo
Down Payment5% of $157,000 purchase
$7,850
+
Origination Fee1 pts on $166,700 loan
$2,500
+
Closing Costs5% of purchase
$7,850
=
Cash to First Close
$18,200
Holding Period — 6 Months
HML Interest9.99% IO · $1,388/mo × 6$8,327
Property Taxes$250/mo × 6$1,501
Insurance$145/mo × 6$873
Total Holding Costs$10,700
Contingency Reserve10% of rehab — held, not at first close$1,755
Sale Event — Second Close
Sale Price (ARV)
$351,000
−
HML Principal Payofffull IO loan balance
$166,700
−
Closing Costs3.5% of sale price
$12,285
−
Realtor Commission6% of sale price
$21,060
=
Net Proceeds to You
$150,955
Deal Summary
Net Proceeds at Closing
$150,955
−
Cash to First Close
$18,200
−
Holding Costs (6 mo)
$10,700
−
Contingency Reserve
$1,755
=
NET PROFIT
$120,300
Max Bid by ROI Target
ROIMax Bidvs Offer
10%$261,730✓ ok
15%$259,671✓ ok
20% ←$257,642✓ ok
25%$255,641✓ ok
30%$253,668✓ ok
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
0.972x
DSCR
Cash to Close
$62,323
single close · no bridge
Monthly Cash Flow
−$23/mo
Cash-on-Cash Yr 1
-0.5%
Acquisition — Single Close
DSCR Purchase Loan — 7.1% / 30yr · Minimal Rehab · No Bridge
Loan Amount
$125,600
LTV (80% of ARV)
35.8%
Monthly P&I
$844/mo
Equity at Close
$31,400
Down Payment20.0% of $157,000 purchase
$31,400
+
Origination Fee1 pts on $125,600
$1,256
+
DSCR Closing Coststitle / appraisal / escrow
$2,512
+
Acquisition Closing5% of purchase
$7,850
+
Rehab Budgetcash, not financed by DSCR loan
$17,550
Contingency Reserve10% of rehab$1,755
=
Total Cash to Close
$62,323
Equity Position — Day 1 Post-Refi
Property Value
$351,000
−
DSCR Loan Balance
$125,600
=
Equity in Property
$225,400 (64.2%)
−
Capital Left in Deal
$62,323
=
Value Created
$163,077
$225,400 equity on $62,323 deployed = 3.6× equity leverage
Monthly Income & Expenses — Post-DSCR
Gross Rent
$1,382
−
Property Taxes
$250
−
Insurance
$145
−
Maintenance (6% rent)
$83
−
Management (6% rent)
$83
=
OpEx Subtotal
$561
=
Net Operating Income
$821
−
DSCR P&I
$844/mo
=
Net Cash Flow
−$23/mo
DSCR Ratios
DSCR (NOI / Debt Service)
0.972x✗ Fail
Lender DSCR (EGI / P&I+tax+ins+HOA)
1.115x✓ Pass
Required Rent by DSCR Target
TargetRent Neededvs Current
1.00x$1,409/mo+$27 needed
1.10x$1,505/mo+$123 needed
1.20x$1,600/mo+$218 needed
1.30x ←$1,696/mo+$314 needed
1.40x$1,792/mo+$410 needed