7015 Boyce St, Houston, TX 77020
Houston, 77020
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Listing Agent
Chet Polniazek
(713) 871-1600texas1st@sbcglobal.net
MMX Group/7015 Boyce St, Houston, TX 77020
Flip-6.8%✗
HM→DSCR0.806x✗
Cash→DSCR0.806x✗
New Deal

7015 Boyce St, Houston, TX 77020

3bd / 1ba · 1,200 sqft · built 1940 · Single FamilyAnalyzed Jul 30, 2026
DSCR
0.991x
FAIL
NOI ÷ debt service
Lender DSCR
1.129x
PASS
EGI ÷ P&I+tax+ins+HOA
Monthly Cash Flow
−$9/mo
FAIL
post all expenses · day 1
Cash to Close
$63,342
80% LTV · single close
Value Generated
$45,001
ARV − purchase − rehab
Starting Equity %
39.0%
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
-6.8%
Flip ROI
Cash to First Close
$20,800
what you bring day 1
Net Profit
−$2,280
Max Bid @ 20%
$175,802
−$2,280 profit  ÷  $33,631 total invested  =  -6.8%
Acquisition Event — First Close
Hard Money Loan — 9.99% Interest-Only
Loan Amount
$185,849
Purchase (95% LTV)
$173,849
Rehab (100%)
$12,000
Loan-to-ARV
77.4%
Monthly Interest
$1,547/mo
Down Payment5% of $182,999 purchase
$9,150
+
Origination Fee1 pts on $185,849 loan
$2,500
+
Closing Costs5% of purchase
$9,150
=
Cash to First Close
$20,800
Holding Period — 6 Months
HML Interest9.99% IO · $1,547/mo × 6$9,283
Property Taxes$229/mo × 6$1,373
Insurance$162/mo × 6$975
Total Holding Costs$11,631
Contingency Reserve10% of rehab — held, not at first close$1,200
Sale Event — Second Close
Sale Price (ARV)
$240,000
−
HML Principal Payofffull IO loan balance
$185,849
−
Closing Costs3.5% of sale price
$8,400
−
Realtor Commission6% of sale price
$14,400
=
Net Proceeds to You
$31,351
Deal Summary
Net Proceeds at Closing
$31,351
−
Cash to First Close
$20,800
−
Holding Costs (6 mo)
$11,631
−
Contingency Reserve
$1,200
=
NET PROFIT
−$2,280
Max Bid by ROI Target
ROIMax Bidvs Offer
10%$178,623−$4,376
15%$177,202−$5,797
20% ←$175,802−$7,197
25%$174,421−$8,578
30%$173,060−$9,939
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
0.991x
DSCR
Cash to Close
$63,342
single close · no bridge
Monthly Cash Flow
−$9/mo
Cash-on-Cash Yr 1
-0.2%
Acquisition — Single Close
DSCR Purchase Loan — 7.1% / 30yr · Minimal Rehab · No Bridge
Loan Amount
$146,399
LTV (80% of ARV)
61.0%
Monthly P&I
$984/mo
Equity at Close
$36,600
Down Payment20.0% of $182,999 purchase
$36,600
+
Origination Fee1 pts on $146,399
$1,464
+
DSCR Closing Coststitle / appraisal / escrow
$2,928
+
Acquisition Closing5% of purchase
$9,150
+
Rehab Budgetcash, not financed by DSCR loan
$12,000
Contingency Reserve10% of rehab$1,200
=
Total Cash to Close
$63,342
Equity Position — Day 1 Post-Refi
Property Value
$240,000
−
DSCR Loan Balance
$146,399
=
Equity in Property
$93,601 (39.0%)
−
Capital Left in Deal
$63,342
=
Value Created
$30,259
$93,601 equity on $63,342 deployed = 1.5× equity leverage
Monthly Income & Expenses — Post-DSCR
Gross Rent
$1,552
−
Property Taxes
$229
−
Insurance
$162
−
Maintenance (6% rent)
$93
−
Management (6% rent)
$93
=
OpEx Subtotal
$577
=
Net Operating Income
$975
−
DSCR P&I
$984/mo
=
Net Cash Flow
−$9/mo
DSCR Ratios
DSCR (NOI / Debt Service)
0.991x✗ Fail
Lender DSCR (EGI / P&I+tax+ins+HOA)
1.129x✓ Pass
Required Rent by DSCR Target
TargetRent Neededvs Current
1.00x$1,563/mo+$11 needed
1.10x$1,674/mo+$122 needed
1.20x$1,786/mo+$234 needed
1.30x ←$1,898/mo+$346 needed
1.40x$2,010/mo+$458 needed