901 Defender St, Houston, TX 77029
2bd / 1ba · 1,261 sqft · built 1941 · 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
33.8%
Flip ROI
Cash to First Close
$12,650
what you bring day 1
Net Profit
$6,952
Max Bid @ 20%
$105,510
$6,952 profit ÷ $20,598 total invested = 33.8%
Acquisition Event — First Close
Hard Money Loan — 9.99% Interest-Only
Loan Amount
$103,675
Purchase (95% LTV)
$96,425
Rehab (100%)
$7,250
Loan-to-ARV
71.5%
Monthly Interest
$863/mo
Down Payment5% of $101,500 purchase
$5,075+
Origination Fee1 pts on $103,675 loan
$2,500+
Closing Costs5% of purchase
$5,075=
Cash to First Close
$12,650Holding Period — 6 Months
HML Interest9.99% IO · $863/mo × 6$5,179
Property Taxes$208/mo × 6$1,249
Insurance$91/mo × 6$544
HOA$42/mo × 6$252
Total Holding Costs$7,223
Contingency Reserve10% of rehab — held, not at first close$725
Sale Event — Second Close
Sale Price (ARV)
$145,000−
HML Principal Payofffull IO loan balance
$103,675−
Closing Costs3.5% of sale price
$5,075−
Realtor Commission6% of sale price
$8,700=
Net Proceeds to You
$27,550Deal Summary
Net Proceeds at Closing
$27,550−
Cash to First Close
$12,650−
Holding Costs (6 mo)
$7,223−
Contingency Reserve
$725=
NET PROFIT
$6,952Max Bid by ROI Target
| ROI | Max Bid | vs Offer |
|---|---|---|
| 10% | $107,263 | ✓ ok |
| 15% | $106,380 | ✓ ok |
| 20% ← | $105,510 | ✓ ok |
| 25% | $104,651 | ✓ ok |
| 30% | $103,805 | ✓ 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
1.077x
DSCR
Monthly Cash Flow
$57/mo
Cash-on-Cash Yr 1
4.9%
$13,970 left in deal
Acquisition Event — First Close
Hard Money Loan — 9.99% Interest-Only
Loan Amount
$103,675
Purchase (95% LTV)
$96,425
Rehab (100%)
$7,250
Loan-to-ARV
71.5%
Monthly Interest
$863/mo
Down Payment5% of $101,500 purchase
$5,075+
Origination Fee1 pts on $103,675 loan
$2,500+
Closing Costs5% of purchase
$5,075=
Cash to First Close
$12,650Holding Period — 2 Months
HML Interest9.99% IO · $863/mo × 2$1,726
Property Taxes$208/mo × 2$416
Insurance$91/mo × 2$181
HOA$42/mo × 2$84
Total Holding Costs$2,408
Contingency Reserve10% of rehab — held, not at first close$725
DSCR Refinance — Second Close
DSCR Loan Proceeds75% of ARV · 7.1% / 30yr
$108,750−
HML Principal Payofffull IO loan balance
$103,675−
Origination Fee1 pts on $108,750
$1,088−
Closing Coststitle / appraisal / escrow
$2,175=
Cash Back to You
+$1,813Deal Summary
Cash to First Close
$12,650+
Holding Costs (2 mo)
$2,408+
Contingency Reserve
$725−
Cash Back at Refi
−$1,813=
Capital Left in Deal
$13,970Equity Position — Day 1 Post-Refi
ARV
$145,000−
DSCR Loan Balance
$108,750=
Equity in Property
$36,250 (25.0%)−
Capital Left in Deal
$13,970=
Value Created
$22,280$36,250 equity on $13,970 deployed = 2.6× equity leverage
Monthly Income & Expenses — Post-DSCR
Gross Rent
$1,282−
Property Taxes
$208−
Insurance
$91−
Maintenance (6% rent)
$77−
Management (6% rent)
$77−
HOA
$42=
OpEx Subtotal
$495=
Net Operating Income
$787−
DSCR P&I
$731/mo=
Net Cash Flow
$57/moDSCR Ratios — Cash-Out vs No Cash-Out vs DSCR=1.0
Cash-Out Refi
75% of ARV — full LTV
Loan Amount$108,750
Monthly P&I$731/mo
Net Cash Flow$57/mo
Cash Back at Refi+$1,813
DSCR
1.077x✗ Fail
Lender DSCR
1.196x✓ Pass
No Cash-Out
73.7% LTV — breakeven refi
Loan Amount$106,881
Monthly P&I$718/mo
Net Cash Flow$69/mo
Cash Back at Refi+$0
DSCR
1.096x✗ Fail
Lender DSCR
1.211x✓ Pass
DSCR = 1.00x
Not DSCR-constrained — the 75% ARV cash-out loan already clears 1.077xx.
Required Rent by DSCR Target
| Target | Rent Needed | vs Current |
|---|---|---|
| 1.00x | $1,218/mo | ✓ met |
| 1.10x | $1,301/mo | +$19 needed |
| 1.20x | $1,384/mo | +$102 needed |
| 1.30x ← | $1,467/mo | +$185 needed |
| 1.40x | $1,550/mo | +$268 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
1.077x
DSCR
Monthly Cash Flow
$57/mo
Cash-on-Cash Yr 1
7.0%
$9,744 left in deal
Acquisition Event — First Close
Purchase Price
$101,500+
Rehab Budget
$7,250+
Closing Costs5% of purchase
$5,075=
Total Cash to First Close
$113,825Holding Period — 2 Months
Property Taxes$208/mo × 2$416
Insurance$91/mo × 2$181
HOA$42/mo × 2$84
Total Holding Costs$681
Contingency Reserve10% of rehab — held, not at first close$725
DSCR Refinance — Second Close
DSCR Loan Proceeds75% of ARV · 7.1% / 30yr
$108,750−
Origination Fee1 pts on $108,750
$1,088−
Closing Coststitle / appraisal / escrow
$2,175=
Net Cash Recovered
$105,488Deal Summary
Total Cash to First Close
$113,825+
Holding Costs (2 mo)
$681+
Contingency Reserve
$725−
Net Cash Recovered at Refi
$105,488=
Capital Left in Deal
$9,744Equity Position — Day 1 Post-Refi
ARV
$145,000−
DSCR Loan Balance
$108,750=
Equity in Property
$36,250 (25.0%)−
Capital Left in Deal
$9,744=
Value Created
$26,506$36,250 equity on $9,744 deployed = 3.7× equity leverage
Monthly Income & Expenses — Post-DSCR
Gross Rent
$1,282−
Property Taxes
$208−
Insurance
$91−
Maintenance (6% rent)
$77−
Management (6% rent)
$77−
HOA
$42=
OpEx Subtotal
$495=
Net Operating Income
$787−
DSCR P&I
$731/mo=
Net Cash Flow
$57/moDSCR Ratios — Cash-Out vs No Cash-Out
Cash-Out Refi
75% of ARV — full LTV
Loan Amount$108,750
Monthly P&I$731/mo
Net Cash Flow$57/mo
Cash Still Required−$9,744
DSCR
1.077x✗ Fail
Lender DSCR
1.196x✓ Pass
No Cash-Out
75.0% LTV — capped short $9,744
Loan Amount$108,750
Monthly P&I$731/mo
Net Cash Flow$57/mo
Cash Still Required−$9,744
DSCR
1.077x✗ Fail
Lender DSCR
1.196x✓ Pass
Required Rent by DSCR Target
| Target | Rent Needed | vs Current |
|---|---|---|
| 1.00x | $1,218/mo | ✓ met |
| 1.10x | $1,301/mo | +$19 needed |
| 1.20x | $1,384/mo | +$102 needed |
| 1.30x ← | $1,467/mo | +$185 needed |
| 1.40x | $1,550/mo | +$268 needed |