The airplane was destroyed at 1541 Central time when it impacted a house in a residential area following a loss of control while performing a go-around. The CFI, sole occupant of the airplane, was fatally injured. Visual conditions prevailed. A witness landing his airplane behind the accident airplane reported he heard the pilot report on the CTAF that he was on a single-engine approach to 14, with a simulated engine out. As the accident airplane was approximately 20 feet above the middle of the runway, he heard the pilot call out, Im going around. The witness then saw the accident airplane with its right wing nearly straight up; there were no emergency transmissions reported. The pilot then saw smoke coming from the area.