7730 Covington Dr, Houston, TX 77095
Houston, 77095
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Listing Agent
Kimberly Franco
MMX Group/7730 Covington Dr, Houston, TX 77095
Flip-91.6%✗
HM→DSCR1.184x✗
Cash→DSCR1.184x✗
New Deal

7730 Covington Dr, Houston, TX 77095

3bd / 2.5ba · 2,145 sqft · built 1987 · Single FamilyAnalyzed Jul 30, 2026
DSCR
1.252x
FAIL
NOI ÷ debt service
Lender DSCR
1.366x
PASS
EGI ÷ P&I+tax+ins+HOA
Monthly Cash Flow
$341/mo
PASS
post all expenses · day 1
Cash to Close
$84,600
80% LTV · single close
Value Generated
$18,050
ARV − purchase − rehab
Starting Equity %
29.1%
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
-91.6%
Flip ROI
Cash to First Close
$27,709
what you bring day 1
Net Profit
−$40,126
Max Bid @ 20%
$209,033
−$40,126 profit  ÷  $43,783 total invested  =  -91.6%
Acquisition Event — First Close
Hard Money Loan — 9.99% Interest-Only
Loan Amount
$253,363
Purchase (95% LTV)
$239,163
Rehab (100%)
$14,200
Loan-to-ARV
89.2%
Monthly Interest
$2,109/mo
Down Payment5% of $251,750 purchase
$12,588
+
Origination Fee1 pts on $253,363 loan
$2,534
+
Closing Costs5% of purchase
$12,588
=
Cash to First Close
$27,709
Holding Period — 6 Months
HML Interest9.99% IO · $2,109/mo × 6$12,655
Property Taxes$112/mo × 6$670
Insurance$222/mo × 6$1,330
Total Holding Costs$14,655
Contingency Reserve10% of rehab — held, not at first close$1,420
Sale Event — Second Close
Sale Price (ARV)
$284,000
−
HML Principal Payofffull IO loan balance
$253,363
−
Closing Costs3.5% of sale price
$9,940
−
Realtor Commission6% of sale price
$17,040
=
Net Proceeds to You
$3,658
Deal Summary
Net Proceeds at Closing
$3,658
−
Cash to First Close
$27,709
−
Holding Costs (6 mo)
$14,655
−
Contingency Reserve
$1,420
=
NET PROFIT
−$40,126
Max Bid by ROI Target
ROIMax Bidvs Offer
10%$212,301−$39,449
15%$210,656−$41,094
20% ←$209,033−$42,717
25%$207,434−$44,316
30%$205,857−$45,893
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
1.252x
DSCR
Cash to Close
$84,600
single close · no bridge
Monthly Cash Flow
$341/mo
Cash-on-Cash Yr 1
4.8%
Acquisition — Single Close
DSCR Purchase Loan — 7.1% / 30yr · Minimal Rehab · No Bridge
Loan Amount
$201,400
LTV (80% of ARV)
70.9%
Monthly P&I
$1,353/mo
Equity at Close
$50,350
Down Payment20.0% of $251,750 purchase
$50,350
+
Origination Fee1 pts on $201,400
$2,014
+
DSCR Closing Coststitle / appraisal / escrow
$4,028
+
Acquisition Closing5% of purchase
$12,588
+
Rehab Budgetcash, not financed by DSCR loan
$14,200
Contingency Reserve10% of rehab$1,420
=
Total Cash to Close
$84,600
Equity Position — Day 1 Post-Refi
Property Value
$284,000
−
DSCR Loan Balance
$201,400
=
Equity in Property
$82,600 (29.1%)
−
Capital Left in Deal
$84,600
=
Value Created
−$1,999
$82,600 equity on $84,600 deployed = 1.0× equity leverage
Monthly Income & Expenses — Post-DSCR
Gross Rent
$2,304
−
Property Taxes
$112
−
Insurance
$222
−
Maintenance (6% rent)
$138
−
Management (6% rent)
$138
=
OpEx Subtotal
$610
=
Net Operating Income
$1,694
−
DSCR P&I
$1,353/mo
=
Net Cash Flow
$341/mo
DSCR Ratios
DSCR (NOI / Debt Service)
1.252x✗ Fail
Lender DSCR (EGI / P&I+tax+ins+HOA)
1.366x✓ Pass
Required Rent by DSCR Target
TargetRent Neededvs Current
1.00x$1,917/mo✓ met
1.10x$2,070/mo✓ met
1.20x$2,224/mo✓ met
1.30x ←$2,378/mo+$74 needed
1.40x$2,532/mo+$228 needed