6502 Leedale St, Houston, TX 77016
Houston, 77016
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Listing Agent
Steven Franco
(832) 631-9104sfranco@francoteamtx.com
MMX Group/6502 Leedale St, Houston, TX 77016
Flip-46.5%✗
HM→DSCR0.733x✗
Cash→DSCR0.733x✗
New Deal

6502 Leedale St, Houston, TX 77016

4bd / 3ba · 1,779 sqft · built 1960 · Single FamilyAnalyzed Jul 30, 2026
DSCR
0.844x
FAIL
NOI ÷ debt service
Lender DSCR
1.022x
PASS
EGI ÷ P&I+tax+ins+HOA
Monthly Cash Flow
−$168/mo
FAIL
post all expenses · day 1
Cash to Close
$68,138
80% LTV · single close
Value Generated
$33,250
ARV − purchase − rehab
Starting Equity %
34.9%
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
-46.5%
Flip ROI
Cash to First Close
$22,450
what you bring day 1
Net Profit
−$17,346
Max Bid @ 20%
$178,329
−$17,346 profit  ÷  $37,296 total invested  =  -46.5%
Acquisition Event — First Close
Hard Money Loan — 9.99% Interest-Only
Loan Amount
$201,775
Purchase (95% LTV)
$189,525
Rehab (100%)
$12,250
Loan-to-ARV
82.4%
Monthly Interest
$1,680/mo
Down Payment5% of $199,500 purchase
$9,975
+
Origination Fee1 pts on $201,775 loan
$2,500
+
Closing Costs5% of purchase
$9,975
=
Cash to First Close
$22,450
Holding Period — 6 Months
HML Interest9.99% IO · $1,680/mo × 6$10,079
Property Taxes$414/mo × 6$2,484
Insurance$176/mo × 6$1,059
Total Holding Costs$13,621
Contingency Reserve10% of rehab — held, not at first close$1,225
Sale Event — Second Close
Sale Price (ARV)
$245,000
−
HML Principal Payofffull IO loan balance
$201,775
−
Closing Costs3.5% of sale price
$8,575
−
Realtor Commission6% of sale price
$14,700
=
Net Proceeds to You
$19,950
Deal Summary
Net Proceeds at Closing
$19,950
−
Cash to First Close
$22,450
−
Holding Costs (6 mo)
$13,621
−
Contingency Reserve
$1,225
=
NET PROFIT
−$17,346
Max Bid by ROI Target
ROIMax Bidvs Offer
10%$181,289−$18,211
15%$179,799−$19,701
20% ←$178,329−$21,171
25%$176,881−$22,619
30%$175,453−$24,047
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
0.844x
DSCR
Cash to Close
$68,138
single close · no bridge
Monthly Cash Flow
−$168/mo
Cash-on-Cash Yr 1
-3.0%
Acquisition — Single Close
DSCR Purchase Loan — 7.1% / 30yr · Minimal Rehab · No Bridge
Loan Amount
$159,600
LTV (80% of ARV)
65.1%
Monthly P&I
$1,073/mo
Equity at Close
$39,900
Down Payment20.0% of $199,500 purchase
$39,900
+
Origination Fee1 pts on $159,600
$1,596
+
DSCR Closing Coststitle / appraisal / escrow
$3,192
+
Acquisition Closing5% of purchase
$9,975
+
Rehab Budgetcash, not financed by DSCR loan
$12,250
Contingency Reserve10% of rehab$1,225
=
Total Cash to Close
$68,138
Equity Position — Day 1 Post-Refi
Property Value
$245,000
−
DSCR Loan Balance
$159,600
=
Equity in Property
$85,400 (34.9%)
−
Capital Left in Deal
$68,138
=
Value Created
$17,262
$85,400 equity on $68,138 deployed = 1.3× equity leverage
Monthly Income & Expenses — Post-DSCR
Gross Rent
$1,699
−
Property Taxes
$414
−
Insurance
$176
−
Maintenance (6% rent)
$102
−
Management (6% rent)
$102
=
OpEx Subtotal
$794
=
Net Operating Income
$905
−
DSCR P&I
$1,073/mo
=
Net Cash Flow
−$168/mo
DSCR Ratios
DSCR (NOI / Debt Service)
0.844x✗ Fail
Lender DSCR (EGI / P&I+tax+ins+HOA)
1.022x✓ Pass
Required Rent by DSCR Target
TargetRent Neededvs Current
1.00x$1,890/mo+$191 needed
1.10x$2,012/mo+$313 needed
1.20x$2,133/mo+$434 needed
1.30x ←$2,255/mo+$556 needed
1.40x$2,377/mo+$678 needed