815 Redway Ln, Houston, TX 77062
Houston, 77062
View on Zillow →View on PropStream →
Listing Agent
Dawn Fink
(713) 392-8176
MMX Group/815 Redway Ln, Houston, TX 77062
Flip-79.9%✗
HM→DSCR0.863x✗
Cash→DSCR0.863x✗
New Deal

815 Redway Ln, Houston, TX 77062

3bd / 2ba · 1,488 sqft · built 1971 · Single FamilyAnalyzed Jul 30, 2026
DSCR
0.933x
FAIL
NOI ÷ debt service
Lender DSCR
1.081x
PASS
EGI ÷ P&I+tax+ins+HOA
Monthly Cash Flow
−$85/mo
FAIL
post all expenses · day 1
Cash to Close
$79,295
80% LTV · single close
Value Generated
$22,450
ARV − purchase − rehab
Starting Equity %
30.6%
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
-79.9%
Flip ROI
Cash to First Close
$26,000
what you bring day 1
Net Profit
−$33,685
Max Bid @ 20%
$198,337
−$33,685 profit  ÷  $42,140 total invested  =  -79.9%
Acquisition Event — First Close
Hard Money Loan — 9.99% Interest-Only
Loan Amount
$236,800
Purchase (95% LTV)
$223,250
Rehab (100%)
$13,550
Loan-to-ARV
87.4%
Monthly Interest
$1,971/mo
Down Payment5% of $235,000 purchase
$11,750
+
Origination Fee1 pts on $236,800 loan
$2,500
+
Closing Costs5% of purchase
$11,750
=
Cash to First Close
$26,000
Holding Period — 6 Months
HML Interest9.99% IO · $1,971/mo × 6$11,828
Property Taxes$286/mo × 6$1,715
Insurance$207/mo × 6$1,243
Total Holding Costs$14,785
Contingency Reserve10% of rehab — held, not at first close$1,355
Sale Event — Second Close
Sale Price (ARV)
$271,000
−
HML Principal Payofffull IO loan balance
$236,800
−
Closing Costs3.5% of sale price
$9,485
−
Realtor Commission6% of sale price
$16,260
=
Net Proceeds to You
$8,455
Deal Summary
Net Proceeds at Closing
$8,455
−
Cash to First Close
$26,000
−
Holding Costs (6 mo)
$14,785
−
Contingency Reserve
$1,355
=
NET PROFIT
−$33,685
Max Bid by ROI Target
ROIMax Bidvs Offer
10%$201,534−$33,466
15%$199,924−$35,076
20% ←$198,337−$36,663
25%$196,772−$38,228
30%$195,229−$39,771
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
0.933x
DSCR
Cash to Close
$79,295
single close · no bridge
Monthly Cash Flow
−$85/mo
Cash-on-Cash Yr 1
-1.3%
Acquisition — Single Close
DSCR Purchase Loan — 7.1% / 30yr · Minimal Rehab · No Bridge
Loan Amount
$188,000
LTV (80% of ARV)
69.4%
Monthly P&I
$1,263/mo
Equity at Close
$47,000
Down Payment20.0% of $235,000 purchase
$47,000
+
Origination Fee1 pts on $188,000
$1,880
+
DSCR Closing Coststitle / appraisal / escrow
$3,760
+
Acquisition Closing5% of purchase
$11,750
+
Rehab Budgetcash, not financed by DSCR loan
$13,550
Contingency Reserve10% of rehab$1,355
=
Total Cash to Close
$79,295
Equity Position — Day 1 Post-Refi
Property Value
$271,000
−
DSCR Loan Balance
$188,000
=
Equity in Property
$83,000 (30.6%)
−
Capital Left in Deal
$79,295
=
Value Created
$3,705
$83,000 equity on $79,295 deployed = 1.0× equity leverage
Monthly Income & Expenses — Post-DSCR
Gross Rent
$1,899
−
Property Taxes
$286
−
Insurance
$207
−
Maintenance (6% rent)
$114
−
Management (6% rent)
$114
=
OpEx Subtotal
$721
=
Net Operating Income
$1,178
−
DSCR P&I
$1,263/mo
=
Net Cash Flow
−$85/mo
DSCR Ratios
DSCR (NOI / Debt Service)
0.933x✗ Fail
Lender DSCR (EGI / P&I+tax+ins+HOA)
1.081x✓ Pass
Required Rent by DSCR Target
TargetRent Neededvs Current
1.00x$1,996/mo+$97 needed
1.10x$2,139/mo+$240 needed
1.20x$2,283/mo+$384 needed
1.30x ←$2,427/mo+$528 needed
1.40x$2,570/mo+$671 needed