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111 W Davis Street Howe, TX 75459

3 Beds 2 Baths 2,158 sqft Built 1991

$269,000

List Price

$1,570

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

February 04, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1991
  • Price/Sqft : $124.65
  • 4 Days on Market
  • MLS # : 14512747
  • Updated Date : 02/05/2021 at 08:49
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,158 sqft
  • Baths : 2 full
Listing Agent

Ebby Halliday, Realtors-prosper

Listing Agent's Description

Come Check Out This Beautiful Custom-Built Home in Howe, Texas. This Ranch Style Home has been updated with elegant plank wood floors, paint throughout the home, light fixtures, roof, and seamless gutters.  The home offers an open floor-plan, lots of natural light, custom-built cabinets including a lazy susan, pot and pan drawers, and a pantry closet.  Laundry room has room for a standing and side-by-side freezer, has an extra pantry. Did I mention it has a pocket door?  Relax in your sunroom after a long day by birdwatching, or by watching the beautiful Texas sunsets.  Storage room in the back of the home, and a workshop with electricity in the garage.  Large backyard with producing pecan and nectarine trees.

SEE MORE

MARKET HIGHLIGHTS

  • Dallas metro contributes to 31.9%% of Texas state economy i.e. Gross State Product (USMayors.org, 2018)
  • Dallas metro has 67.1% labor force participation rate higher than the national rate 62.8% (USMayors.org, 2018)
  • . Dallas has 7th largest concentration of high-tech jobs in the U.S. (Dallas Chamber)
  • # 1 in the country for job growth in 2017 (2.6% growth, 91,700 new jobs) (US Census, Forbes, 2017)
  • Dallas metro's economy is worth $579 billion in Gross Metro Product and projected to grow to $613 billion in 2019 (USMayors.org, 2018)
  • Home to 20 Fortune 500 headquarters, 39 Fortune 1000 headquarters and 12 of Forbes' top private companies (Fortune)

PRICE & RENT TRENDS

Zip Code: 75459

ZipNIR Market*CityMarket2010Year2000201970k80k90k100k110k120k130k140k150k160k170k180k190k200kPrice in $65k202k

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

Zip Code: 75459

No Data Available.

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

SCHOOLS

NAME EDUCATIONAL LEVEL SCHOOL TYPE # OF STUDENTS # OF TEACHERS GREATSCHOOLS RATING
Howe Elementary School Primary Regular 410 24 5
Howe Middle School Middle Regular 314 26 5
Howe High School High Regular 300 29 5

Howe Elementary School

  • Education Level: Primary
  • # of students: 410
  • # of teachers: 24
5
GreatSchools Rating

Howe Middle School

  • Education Level: Middle
  • # of students: 314
  • # of teachers: 26
5
GreatSchools Rating

Howe High School

  • Education Level: High
  • # of students: 300
  • # of teachers: 29
5
GreatSchools Rating
 

$242,100$295,900$269,000

PURCHASE PRICE

$1,413$1,727$1,570

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,570
EXPENSES Loan Payment -$934
Property Tax -$614
Property Insurance -$145
Property Management Fees -$99
CASH FLOW
-$222

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 14% of earned rent to cover both maintenance and periods of vacancy.

$269,000

PROJECTED PRICE

$1,570

PROJECTED RENT

0.58%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.50%
Appreciation Year (1-5) 9.6%
Maintenance Year (1-5) 8.00%
Vacancy 6.00%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k

PROJECTED ANNUAL CASH FLOW

11530-$6.0k-$4.0k-$2.0k$0.0$2.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$77,035

INVESTMENT

$77,035

Down Payment
$67,250
Rehab Estimate
$5,750
Closing Costs
$4,035

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$934

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $67,250
Loan Amount $201,750
See What Happens When You Reinvest Cash Flow

0.33

YEARS SAVED

$209

INTEREST SAVED

CASH FLOW REINVESTMENT

The time & interest saved by applying each month's positive cash flow towards loan principal pay down.

  • $1,570

    LIST RENT
  • $0.73

    LIST RENT PER SQFT
  • $1,824

    COMP ESTIMATED VALUE
  • $0.85

    COMP AVG. RENT PER SQFT
Comps Range
$1,500
1$1,5002$1,5703$1,600
$1,600
RENT COMPS ANALYSIS
  • 111 W Davis Street Howe, TX 2
    • 3 beds 2 baths ∙ 2,158 Sqft ∙ Built 1991 3 beds 2 baths ∙ 2,158 Sqft ∙ Built 1991
    • Rent
    • Rent Per SQFT
    •  
    • $1,570
    • $0.73
    •  
  • 1545 Timbercreek Drive Howe, TX 1
    • 4 beds 2 baths ∙ 1,847 Sqft ∙ Built 1978 4 beds 2 baths ∙ 1,847 Sqft ∙ Built 1978
    LEASED 08/09/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.81
    •  
  • 916 Calder Street Howe, TX 3
    • 4 beds 2 baths ∙ 1,825 Sqft ∙ Built 2002 4 beds 2 baths ∙ 1,825 Sqft ∙ Built 2002
    LEASED 10/11/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.88
    •  
PROPERTY LISTING DETAILS
Elena Marrufo
Ebby Halliday, Realtors-prosper
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14512747
Last Updated: 02/05/2021
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