1902 Thistlebrook Ct, Fresno, TX 77545
4bd / 2ba · 2,598 sqft · built 1997 · Single Family (SFR)Analyzed Oct 25, 2026MX Group Partner$
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Scenario 1 — Flip
Hard money loan · sell at ARV after rehab
✅
PASSES FLIP
Min 20% ROI · 6-mo hold
46.0%
Flip ROI
Cash to First Close
$22,940
what you bring day 1
Net Profit
$17,749
Max Bid @ 20%
$213,598
$17,749 profit ÷ $38,586 total invested = 46.0%
Acquisition Event — First Close
Hard Money Loan — 9.99% Interest-Only
Loan Amount
$208,830
Purchase (95% LTV)
$194,180
Rehab (100%)
$14,650
Loan-to-ARV
71.3%
Monthly Interest
$1,739/mo
Down Payment5% of $204,400 purchase
$10,220+
Origination Fee1 pts on $208,830 loan
$2,500+
Closing Costs5% of purchase
$10,220=
Cash to First Close
$22,940Holding Period — 6 Months
HML Interest9.99% IO · $1,739/mo × 6$10,431
Property Taxes$383/mo × 6$2,295
Insurance$183/mo × 6$1,095
HOA$60/mo × 6$360
Total Holding Costs$14,181
Contingency Reserve10% of rehab — held, not at first close$1,465
Sale Event — Second Close
Sale Price (ARV)
$293,000−
HML Principal Payofffull IO loan balance
$208,830−
Closing Costs3.5% of sale price
$10,255−
Realtor Commission6% of sale price
$17,580=
Net Proceeds to You
$56,335Deal Summary
Net Proceeds at Closing
$56,335−
Cash to First Close
$22,940−
Holding Costs (6 mo)
$14,181−
Contingency Reserve
$1,465=
NET PROFIT
$17,749Max Bid by ROI Target
| ROI | Max Bid | vs Offer |
|---|---|---|
| 10% | $217,114 | ✓ ok |
| 15% | $215,343 | ✓ ok |
| 20% ← | $213,598 | ✓ ok |
| 25% | $211,877 | ✓ ok |
| 30% | $210,180 | ✓ ok |
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
0.966x
DSCR
Monthly Cash Flow
−$51/mo
Cash-on-Cash Yr 1
-2.4%
$24,805 left in deal
Acquisition Event — First Close
Hard Money Loan — 9.99% Interest-Only
Loan Amount
$208,830
Purchase (95% LTV)
$194,180
Rehab (100%)
$14,650
Loan-to-ARV
71.3%
Monthly Interest
$1,739/mo
Down Payment5% of $204,400 purchase
$10,220+
Origination Fee1 pts on $208,830 loan
$2,500+
Closing Costs5% of purchase
$10,220=
Cash to First Close
$22,940Holding Period — 2 Months
HML Interest9.99% IO · $1,739/mo × 2$3,477
Property Taxes$383/mo × 2$765
Insurance$183/mo × 2$365
HOA$60/mo × 2$120
Total Holding Costs$4,727
Contingency Reserve10% of rehab — held, not at first close$1,465
DSCR Refinance — Second Close
DSCR Loan Proceeds75% of ARV · 7.1% / 30yr
$219,750−
HML Principal Payofffull IO loan balance
$208,830−
Origination Fee1 pts on $219,750
$2,198−
Closing Coststitle / appraisal / escrow
$4,395=
Cash Back to You
+$4,328Deal Summary
Cash to First Close
$22,940+
Holding Costs (2 mo)
$4,727+
Contingency Reserve
$1,465−
Cash Back at Refi
−$4,328=
Capital Left in Deal
$24,805Equity Position — Day 1 Post-Refi
ARV
$293,000−
DSCR Loan Balance
$219,750=
Equity in Property
$73,250 (25.0%)−
Capital Left in Deal
$24,805=
Value Created
$48,445$73,250 equity on $24,805 deployed = 3.0× equity leverage
Monthly Income & Expenses — Post-DSCR
Gross Rent
$2,331−
Property Taxes
$383−
Insurance
$183−
Maintenance (6% rent)
$140−
Management (6% rent)
$140−
HOA
$60=
OpEx Subtotal
$905=
Net Operating Income
$1,426−
DSCR P&I
$1,477/mo=
Net Cash Flow
−$51/moDSCR Ratios — Cash-Out vs No Cash-Out vs DSCR=1.0
Cash-Out Refi
75% of ARV — full LTV
Loan Amount$219,750
Monthly P&I$1,477/mo
Net Cash Flow−$51/mo
Cash Back at Refi+$4,328
DSCR
0.966x✗ Fail
Lender DSCR
1.109x✓ Pass
No Cash-Out
73.5% LTV — breakeven refi
Loan Amount$215,289
Monthly P&I$1,447/mo
Net Cash Flow−$21/mo
Cash Back at Refi+$0
DSCR
0.986x✗ Fail
Lender DSCR
1.125x✓ Pass
DSCR = 1.00x
72.4% LTV — still short $2,969
Loan Amount$212,228
Monthly P&I$1,426/mo
Net Cash Flow$0/mo
Cash Still Required−$2,969
DSCR
1.000x✗ Fail
Lender DSCR
1.136x✓ Pass
Required Rent by DSCR Target
| Target | Rent Needed | vs Current |
|---|---|---|
| 1.00x | $2,388/mo | +$57 needed |
| 1.10x | $2,556/mo | +$225 needed |
| 1.20x | $2,724/mo | +$393 needed |
| 1.30x ← | $2,892/mo | +$561 needed |
| 1.40x | $3,060/mo | +$729 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
0.966x
DSCR
Monthly Cash Flow
−$51/mo
Cash-on-Cash Yr 1
-3.2%
$18,828 left in deal
Acquisition Event — First Close
Purchase Price
$204,400+
Rehab Budget
$14,650+
Closing Costs5% of purchase
$10,220=
Total Cash to First Close
$229,270Holding Period — 2 Months
Property Taxes$383/mo × 2$765
Insurance$183/mo × 2$365
HOA$60/mo × 2$120
Total Holding Costs$1,250
Contingency Reserve10% of rehab — held, not at first close$1,465
DSCR Refinance — Second Close
DSCR Loan Proceeds75% of ARV · 7.1% / 30yr
$219,750−
Origination Fee1 pts on $219,750
$2,198−
Closing Coststitle / appraisal / escrow
$4,395=
Net Cash Recovered
$213,158Deal Summary
Total Cash to First Close
$229,270+
Holding Costs (2 mo)
$1,250+
Contingency Reserve
$1,465−
Net Cash Recovered at Refi
$213,158=
Capital Left in Deal
$18,828Equity Position — Day 1 Post-Refi
ARV
$293,000−
DSCR Loan Balance
$219,750=
Equity in Property
$73,250 (25.0%)−
Capital Left in Deal
$18,828=
Value Created
$54,422$73,250 equity on $18,828 deployed = 3.9× equity leverage
Monthly Income & Expenses — Post-DSCR
Gross Rent
$2,331−
Property Taxes
$383−
Insurance
$183−
Maintenance (6% rent)
$140−
Management (6% rent)
$140−
HOA
$60=
OpEx Subtotal
$905=
Net Operating Income
$1,426−
DSCR P&I
$1,477/mo=
Net Cash Flow
−$51/moDSCR Ratios — Cash-Out vs No Cash-Out
Cash-Out Refi
75% of ARV — full LTV
Loan Amount$219,750
Monthly P&I$1,477/mo
Net Cash Flow−$51/mo
Cash Still Required−$18,828
DSCR
0.966x✗ Fail
Lender DSCR
1.109x✓ Pass
No Cash-Out
75.0% LTV — capped short $18,828
Loan Amount$219,750
Monthly P&I$1,477/mo
Net Cash Flow−$51/mo
Cash Still Required−$18,828
DSCR
0.966x✗ Fail
Lender DSCR
1.109x✓ Pass
Required Rent by DSCR Target
| Target | Rent Needed | vs Current |
|---|---|---|
| 1.00x | $2,388/mo | +$57 needed |
| 1.10x | $2,556/mo | +$225 needed |
| 1.20x | $2,724/mo | +$393 needed |
| 1.30x ← | $2,892/mo | +$561 needed |
| 1.40x | $3,060/mo | +$729 needed |