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1525 Timbercreek Drive Howe, TX 75459

3 Beds 2 Baths 2,085 sqft Built 1985

$199,900

List Price

$1,510

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

November 28, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1985
  • Price/Sqft : $95.88
  • 2 Days on Market
  • MLS # : 14473970
  • Updated Date : 11/28/2020 at 09:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,085 sqft
  • Baths : 2 full
Listing Agent

Keller Williams North Country

Listing Agent's Description

A classic abode that can be customized to your liking with a bit of creativity. This home offers an upstairs loft that can be converted to an office space or a cozy sitting area while overlooking the main floor or perhaps could be used for extra storage space. The outside balcony provides an enjoyable scenery of the outdoor nature. The converted garage would be a great idea for a cinema and game room or even an in home gym to work on your fitness goals. This dwelling is situated in an established neighborhood and easy access to Hwy 75 traveling northbound into town or southbound towards the metroplex. Contact your favorite realtor for a showing and see where your ideas and imagination can lead you.

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
 

$179,910$219,890$199,900

PURCHASE PRICE

$1,359$1,661$1,510

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,510
EXPENSES Loan Payment -$738
Property Tax -$456
Property Insurance -$141
Property Management Fees -$99
CASH FLOW
$76

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.

$199,900

PROJECTED PRICE

$1,510

PROJECTED RENT

0.76%

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$100k$200k$300k$400k$500k$600k$700k

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$58,724

INVESTMENT

$58,724

Down Payment
$49,975
Rehab Estimate
$5,750
Closing Costs
$2,999

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$738

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $49,975
Loan Amount $149,925
See What Happens When You Reinvest Cash Flow

4.58

YEARS SAVED

$10,999

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,510

    LIST RENT
  • $0.72

    LIST RENT PER SQFT
  • $1,783

    COMP ESTIMATED VALUE
  • $0.86

    COMP AVG. RENT PER SQFT
Comps Range
$1,500
1$1,5002$1,5103$1,910
$1,910
RENT COMPS ANALYSIS
  • 1525 Timbercreek Drive Howe, TX 2
    • 3 beds 2 baths ∙ 2,085 Sqft ∙ Built 1985 3 beds 2 baths ∙ 2,085 Sqft ∙ Built 1985
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,510
    • $0.72
    •  
  • 1545 Timbercreek Drive Howe, TX 1
    • 4 beds 2 baths ∙ 1,847 Sqft ∙ Built 1978 4 beds 2 baths ∙ 1,847 Sqft ∙ Built 1978
    property image
    LEASED 08/09/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.81
    •  
  • 1007 Keck Circle Howe, TX 3
    • 4 beds 2 baths ∙ 2,120 Sqft ∙ Built 1965 4 beds 2 baths ∙ 2,120 Sqft ∙ Built 1965
    property image
    LEASED 06/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,910
    • $0.90
    •  
PROPERTY LISTING DETAILS
Erica Tinajero
Keller Williams North Country
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14473970
Last Updated: 11/28/2020
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