14577 Enchanted Waters Dr, Willis, TX 77318
896 sqft · built 1996 · OtherAnalyzed Oct 25, 2026MX Group Partner$
$
$
$
$
$
Scenario 1 — Flip
Hard money loan · sell at ARV after rehab
❌
FAILS FLIP
Min 20% ROI · 6-mo hold
-71.0%
Flip ROI
Cash to First Close
$12,090
what you bring day 1
Net Profit
−$13,485
Max Bid @ 20%
$82,403
−$13,485 profit ÷ $18,995 total invested = -71.0%
Acquisition Event — First Close
Hard Money Loan — 9.99% Interest-Only
Loan Amount
$96,755
Purchase (95% LTV)
$91,105
Rehab (100%)
$5,650
Loan-to-ARV
85.6%
Monthly Interest
$805/mo
Down Payment5% of $95,900 purchase
$4,795+
Origination Fee1 pts on $96,755 loan
$2,500+
Closing Costs5% of purchase
$4,795=
Cash to First Close
$12,090Holding Period — 6 Months
HML Interest9.99% IO · $805/mo × 6$4,833
Property Taxes$159/mo × 6$952
Insurance$85/mo × 6$508
HOA$8/mo × 6$48
Total Holding Costs$6,340
Contingency Reserve10% of rehab — held, not at first close$565
Sale Event — Second Close
Sale Price (ARV)
$113,000−
HML Principal Payofffull IO loan balance
$96,755−
Closing Costs3.5% of sale price
$3,955−
Realtor Commission6% of sale price
$6,780=
Net Proceeds to You
$5,510Deal Summary
Net Proceeds at Closing
$5,510−
Cash to First Close
$12,090−
Holding Costs (6 mo)
$6,340−
Contingency Reserve
$565=
NET PROFIT
−$13,485Max Bid by ROI Target
| ROI | Max Bid | vs Offer |
|---|---|---|
| 10% | $83,757 | −$12,143 |
| 15% | $83,075 | −$12,825 |
| 20% ← | $82,403 | −$13,497 |
| 25% | $81,740 | −$14,160 |
| 30% | $81,087 | −$14,813 |
Scenario 2 — HM→DSCR
Hard money @ 9.99% IO → DSCR refi · 75% ARV · 7.1% / 30yr
❌
FAILS DSCR
Min 1.30x · 7.1% / 30-yr DSCR · 75% of ARV
0.970x
DSCR
Monthly Cash Flow
−$17/mo
Cash-on-Cash Yr 1
-0.7%
$29,316 left in deal
Acquisition Event — First Close
Hard Money Loan — 9.99% Interest-Only
Loan Amount
$96,755
Purchase (95% LTV)
$91,105
Rehab (100%)
$5,650
Loan-to-ARV
85.6%
Monthly Interest
$805/mo
Down Payment5% of $95,900 purchase
$4,795+
Origination Fee1 pts on $96,755 loan
$2,500+
Closing Costs5% of purchase
$4,795=
Cash to First Close
$12,090Holding Period — 2 Months
HML Interest9.99% IO · $805/mo × 2$1,611
Property Taxes$159/mo × 2$317
Insurance$85/mo × 2$169
HOA$8/mo × 2$16
Total Holding Costs$2,113
Contingency Reserve10% of rehab — held, not at first close$565
DSCR Refinance — Second Close
DSCR Loan Proceeds75% of ARV · 7.1% / 30yr
$84,750−
HML Principal Payofffull IO loan balance
$96,755−
Origination Fee1 pts on $84,750
$848−
Closing Coststitle / appraisal / escrow
$1,695=
Cash to Bring to Close
−$14,548Deal Summary
Cash to First Close
$12,090+
Holding Costs (2 mo)
$2,113+
Contingency Reserve
$565−
Cash to Bring at Refi
+$14,548=
Capital Left in Deal
$29,316Equity Position — Day 1 Post-Refi
ARV
$113,000−
DSCR Loan Balance
$84,750=
Equity in Property
$28,250 (25.0%)−
Capital Left in Deal
$29,316=
Value Created
−$1,066$28,250 equity on $29,316 deployed = 1.0× equity leverage
Monthly Income & Expenses — Post-DSCR
Gross Rent
$913−
Property Taxes
$159−
Insurance
$85−
Maintenance (6% rent)
$55−
Management (6% rent)
$55−
HOA
$8=
OpEx Subtotal
$361=
Net Operating Income
$552−
DSCR P&I
$570/mo=
Net Cash Flow
−$17/moDSCR Ratios — Cash-Out vs No Cash-Out vs DSCR=1.0
Cash-Out Refi
75% of ARV — full LTV
Loan Amount$84,750
Monthly P&I$570/mo
Net Cash Flow−$17/mo
Cash Still Required−$14,548
DSCR
0.970x✗ Fail
Lender DSCR
1.112x✓ Pass
No Cash-Out
75.0% LTV — capped short $14,548
Loan Amount$84,750
Monthly P&I$570/mo
Net Cash Flow−$17/mo
Cash Still Required−$14,548
DSCR
0.970x✗ Fail
Lender DSCR
1.112x✓ Pass
DSCR = 1.00x
72.7% LTV — still short $17,047
Loan Amount$82,173
Monthly P&I$552/mo
Net Cash Flow$0/mo
Cash Still Required−$17,047
DSCR
1.000x✗ Fail
Lender DSCR
1.136x✓ Pass
Required Rent by DSCR Target
| Target | Rent Needed | vs Current |
|---|---|---|
| 1.00x | $933/mo | +$20 needed |
| 1.10x | $997/mo | +$84 needed |
| 1.20x | $1,062/mo | +$149 needed |
| 1.30x ← | $1,127/mo | +$214 needed |
| 1.40x | $1,192/mo | +$279 needed |
Scenario 3 — Cash→DSCR
All-cash purchase → DSCR refi · 75% ARV · 7.1% / 30yr
❌
FAILS DSCR
Min 1.30x · 7.1% / 30-yr DSCR · 75% of ARV
0.970x
DSCR
Monthly Cash Flow
−$17/mo
Cash-on-Cash Yr 1
-0.8%
$25,205 left in deal
Acquisition Event — First Close
Purchase Price
$95,900+
Rehab Budget
$5,650+
Closing Costs5% of purchase
$4,795=
Total Cash to First Close
$106,345Holding Period — 2 Months
Property Taxes$159/mo × 2$317
Insurance$85/mo × 2$169
HOA$8/mo × 2$16
Total Holding Costs$502
Contingency Reserve10% of rehab — held, not at first close$565
DSCR Refinance — Second Close
DSCR Loan Proceeds75% of ARV · 7.1% / 30yr
$84,750−
Origination Fee1 pts on $84,750
$848−
Closing Coststitle / appraisal / escrow
$1,695=
Net Cash Recovered
$82,208Deal Summary
Total Cash to First Close
$106,345+
Holding Costs (2 mo)
$502+
Contingency Reserve
$565−
Net Cash Recovered at Refi
$82,208=
Capital Left in Deal
$25,205Equity Position — Day 1 Post-Refi
ARV
$113,000−
DSCR Loan Balance
$84,750=
Equity in Property
$28,250 (25.0%)−
Capital Left in Deal
$25,205=
Value Created
$3,045$28,250 equity on $25,205 deployed = 1.1× equity leverage
Monthly Income & Expenses — Post-DSCR
Gross Rent
$913−
Property Taxes
$159−
Insurance
$85−
Maintenance (6% rent)
$55−
Management (6% rent)
$55−
HOA
$8=
OpEx Subtotal
$361=
Net Operating Income
$552−
DSCR P&I
$570/mo=
Net Cash Flow
−$17/moDSCR Ratios — Cash-Out vs No Cash-Out
Cash-Out Refi
75% of ARV — full LTV
Loan Amount$84,750
Monthly P&I$570/mo
Net Cash Flow−$17/mo
Cash Still Required−$25,205
DSCR
0.970x✗ Fail
Lender DSCR
1.112x✓ Pass
No Cash-Out
75.0% LTV — capped short $25,205
Loan Amount$84,750
Monthly P&I$570/mo
Net Cash Flow−$17/mo
Cash Still Required−$25,205
DSCR
0.970x✗ Fail
Lender DSCR
1.112x✓ Pass
Required Rent by DSCR Target
| Target | Rent Needed | vs Current |
|---|---|---|
| 1.00x | $933/mo | +$20 needed |
| 1.10x | $997/mo | +$84 needed |
| 1.20x | $1,062/mo | +$149 needed |
| 1.30x ← | $1,127/mo | +$214 needed |
| 1.40x | $1,192/mo | +$279 needed |