$347,500

505 W Morgan Street, Denison, TX 75020

  • 4 beds |
  • 4 baths |
  • 2,770 sqft
  • Property Icon Multi-Family Home
  • Property Year Built Icon Built in 1915
  • Property Lot Size Icon5,009sqft lot
  • Property Parking Icon —— car garage
  • Property Price Per Square Feet Icon $125/sqft
  • Property List Date Icon Listed 1 month ago

Property Description

Investors and savvy buyers will find a rare gem in this fully updated 4-plex at 505 W Morgan St, which perfectly hits the elusive 1% rule and boasts a stabilized 8% cap rate, ensuring it remains cashflow positive from day 1. This property has undergone a full cosmetic remodel and offers significant structural peace of mind with a foundation repaired in 2024 and a roof replaced in 2017. The layout includes a spacious main building and a separate garage apartment featuring 3 reliable long term tenants who would like to stay (Unit 101 at $850, Unit 102 at $850, Unit 202 at $750) though the vacant unit (Unit 201) provides a perfect opportunity to househack and maximize your returns. Positioned for both incredible appreciation and strong monthly cashflow, this location is poised to benefit from the massive population explosion coming to Denison with the nearby billion-dollar Preston Harbor and Margaritaville developments. Tenants will love the convenience of being just blocks away from the historic charm of Downtown Denison, the recreation at Forest Park, and the community spirit of Munson Stadium. Do not miss this turnkey opportunity to own a high-performing asset in the heart of the North Texas boom. Everything is separately metered and tenants pay all utilities. Based on full ask offer, the mortgage would be as follows (Estimates not final, subject to change with market rates, credit, insurance cost, and other varying factors): - 25% Down Conventional Investment Loan: PITI of $2,624 - 3.5% Down FHA Loan for Househack: PITI of $3,236 Using preferred lender Taylor Hoff, he will provide a free 0.25% discount on interest rate for investment loans, and a free 1-0 buydown for FHA loans

Listing Status:
Active
Data Last Updated:
June 26, 2026 at 7:18AM
Listing Office:
Bray Real Estate Group- Dallas : 972-374-9994
Listing Agent:
Jett Waters :
MLS ID:
21256732
  • General: Decorative/Designer Lighting FixturesHigh Speed InternetNatural Woodwork
  • Appliances: Electric RangeElectric Water Heater
  • Flooring: Hardwood
  • A/C: Ceiling Fan(s)ElectricMulti UnitsWall/Window Unit(s)
  • Heating: Space HeaterWall Furnace
  • Fireplace: Fireplaces: 0
  • Pool: None
  • Parking: CommonDrivewayParking spaces: 6
  • Roofing: Composition
  • General: 2Pillar/Post/Pier
  • Originating MLS: NTR
  • School District: Denison ISD
  • County: Grayson
  • Zoning: STEVENS ADDNBLOCK 21LOT S 100FT 15146033
  • Utilities: Electricity AvailableSewer AvailableWater Available
  • Water: Public
  • Sewer: Public Sewer
  • Source: NTR

This listing courtesy of Jett Waters , Bray Real Estate Group- Dallas

Monthly Payment

$Est. Payment
  • Principal & Interest $
  • Property Taxes $
  • Home Insurance $
  • VA Funding Fee $

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