8415 Apothecary Ln, Houston, TX 77064
Houston, 77064
View on Zillow →
Listing Agent
Deanna Parsons
(832) 444-8219deanna@txdrealty.com
MMX Group/8415 Apothecary Ln, Houston, TX 77064
Flip-156.1%✗
HM→DSCR0.970x✗
Cash→DSCR0.970x✗
New Deal

8415 Apothecary Ln, Houston, TX 77064

4bd / 2ba · 1,632 sqft · built 1978 · Single FamilyAnalyzed Jul 30, 2026
DSCR
0.909x
FAIL
NOI ÷ debt service
Lender DSCR
1.068x
PASS
EGI ÷ P&I+tax+ins+HOA
Monthly Cash Flow
−$99/mo
FAIL
post all expenses · day 1
Cash to Close
$68,782
80% LTV · single close
Value Generated
$12,050
ARV − purchase − rehab
Starting Equity %
20.0%
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
-156.1%
Flip ROI
Cash to First Close
$22,990
what you bring day 1
Net Profit
−$58,717
Max Bid @ 20%
$147,487
−$58,717 profit  ÷  $37,627 total invested  =  -156.1%
Acquisition Event — First Close
Hard Money Loan — 9.99% Interest-Only
Loan Amount
$204,805
Purchase (95% LTV)
$194,655
Rehab (100%)
$10,150
Loan-to-ARV
100.9%
Monthly Interest
$1,705/mo
Down Payment5% of $204,900 purchase
$10,245
+
Origination Fee1 pts on $204,805 loan
$2,500
+
Closing Costs5% of purchase
$10,245
=
Cash to First Close
$22,990
Holding Period — 6 Months
HML Interest9.99% IO · $1,705/mo × 6$10,230
Property Taxes$386/mo × 6$2,317
Insurance$179/mo × 6$1,075
Total Holding Costs$13,622
Contingency Reserve10% of rehab — held, not at first close$1,015
Sale Event — Second Close
Sale Price (ARV)
$203,000
−
HML Principal Payofffull IO loan balance
$204,805
−
Closing Costs3.5% of sale price
$7,105
−
Realtor Commission6% of sale price
$12,180
=
Net Proceeds to You
−$21,090
Deal Summary
Net Proceeds at Closing
−$21,090
−
Cash to First Close
$22,990
−
Holding Costs (6 mo)
$13,622
−
Contingency Reserve
$1,015
=
NET PROFIT
−$58,717
Max Bid by ROI Target
ROIMax Bidvs Offer
10%$149,958−$54,942
15%$148,714−$56,186
20% ←$147,487−$57,413
25%$146,278−$58,622
30%$145,085−$59,815
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
0.909x
DSCR
Cash to Close
$68,782
single close · no bridge
Monthly Cash Flow
−$99/mo
Cash-on-Cash Yr 1
-1.7%
Acquisition — Single Close
DSCR Purchase Loan — 7.1% / 30yr · Minimal Rehab · No Bridge
Loan Amount
$162,400
LTV (80% of ARV)
80.0%
Monthly P&I
$1,091/mo
Equity at Close
$40,600
Down Payment20.7% of $204,900 purchase
$42,500
+
Origination Fee1 pts on $162,400
$1,624
+
DSCR Closing Coststitle / appraisal / escrow
$3,248
+
Acquisition Closing5% of purchase
$10,245
+
Rehab Budgetcash, not financed by DSCR loan
$10,150
Contingency Reserve10% of rehab$1,015
=
Total Cash to Close
$68,782
Equity Position — Day 1 Post-Refi
Property Value
$203,000
−
DSCR Loan Balance
$162,400
=
Equity in Property
$40,600 (20.0%)
−
Capital Left in Deal
$68,782
=
Value Created
−$28,182
$40,600 equity on $68,782 deployed = 0.6× equity leverage
Monthly Income & Expenses — Post-DSCR
Gross Rent
$1,770
−
Property Taxes
$386
−
Insurance
$179
−
Maintenance (6% rent)
$106
−
Management (6% rent)
$106
=
OpEx Subtotal
$778
=
Net Operating Income
$992
−
DSCR P&I
$1,091/mo
=
Net Cash Flow
−$99/mo
DSCR Ratios
DSCR (NOI / Debt Service)
0.909x✗ Fail
Lender DSCR (EGI / P&I+tax+ins+HOA)
1.068x✓ Pass
Required Rent by DSCR Target
TargetRent Neededvs Current
1.00x$1,883/mo+$113 needed
1.10x$2,007/mo+$237 needed
1.20x$2,131/mo+$361 needed
1.30x ←$2,255/mo+$485 needed
1.40x$2,379/mo+$609 needed