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121 E Tutt Street Howe, TX 75459

3 Beds 2 Baths 1,510 sqft Built 2021

$295,000

List Price

$1,530

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

Built 2021 NEW CONSTRUCTION
February 07, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2021
  • Price/Sqft : $195.36
  • 1 Days on Market
  • MLS # : 14514527
  • Updated Date : 02/06/2021 at 23:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,510 sqft
  • Baths : 2 full
Listing Agent

Citiwide Properties Corp.

Listing Agent's Description

New build DREAM HOME by Blake Butler Construction. You'll love the open & airy split floor plan with luxe finishes including upgraded wood-look tile, 1in granite, HGTV paint & lighting, crown molding plus tray, vaulted & tall ceilings throughout. Family space has wide windows, a stone fireplace, eat-at granite bar open to kitchen & formal dining. Dreamy white kitchen features beveled subway tile, 42in soft-close cabinetry, ss appliances, an oversized pantry & ss farm sink - perfect for the home chef. All bedrooms are oversized. Light, bright bathrooms have bronze fixtures, hex or stone tile & upgraded everything. Space abounds on this corner lot with a newly sodded yard plus covered patio from living space.

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
 

$265,500$324,500$295,000

PURCHASE PRICE

$1,377$1,683$1,530

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,530
EXPENSES Loan Payment -$1,025
Property Tax -$673
Property Insurance -$109
Property Management Fees -$99
CASH FLOW
-$376

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 9% of earned rent to cover both maintenance and periods of vacancy.

$295,000

PROJECTED PRICE

$1,530

PROJECTED RENT

0.52%

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) 3.00%
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$1.0M

PROJECTED ANNUAL CASH FLOW

11530-$8.0k-$7.0k-$6.0k-$5.0k-$4.0k-$3.0k-$2.0k-$1.0k$0.0

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$80,175

INVESTMENT

$80,175

Down Payment
$73,750
Rehab Estimate
$2,000
Closing Costs
$4,425

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,025

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $73,750
Loan Amount $221,250
See What Happens When You Reinvest Cash Flow

0

YEARS SAVED

$11

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,530

    LIST RENT
  • $1.01

    LIST RENT PER SQFT
  • $1,520

    COMP ESTIMATED VALUE
  • $1.01

    COMP AVG. RENT PER SQFT
Comps Range
$1,500
1$1,5002$1,5303$1,5454$1,575
$1,575
RENT COMPS ANALYSIS
  • 121 E Tutt Street Howe, TX 2
    • 3 beds 2 baths ∙ 1,510 Sqft ∙ Built 2021 3 beds 2 baths ∙ 1,510 Sqft ∙ Built 2021
    • Rent
    • Rent Per SQFT
    •  
    • $1,530
    • $1.01
    •  
  • 1705 Clegg Street Howe, TX 1
    • 3 beds 2 baths ∙ 1,557 Sqft ∙ Built 2017 3 beds 2 baths ∙ 1,557 Sqft ∙ Built 2017
    LEASED 01/07/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.96
    •  
  • 1101 Southridge Lane Sherman, TX 3
    • 3 beds 2 baths ∙ 1,467 Sqft ∙ Built 2020 3 beds 2 baths ∙ 1,467 Sqft ∙ Built 2020
    LEASED 07/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,545
    • $1.05
    •  
  • 1315 Clegg Street Howe, TX 4
    • 3 beds 2 baths ∙ 1,561 Sqft ∙ Built 2017 3 beds 2 baths ∙ 1,561 Sqft ∙ Built 2017
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,575
    • $1.01
    •  
PROPERTY LISTING DETAILS
Hillary Leutwyler
Citiwide Properties Corp.
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14514527
Last Updated: 02/06/2021
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