505 W Morgan Street, Denison, TX 75020
505 W Morgan Street, Denison, TX 75020
505 W Morgan Street, Denison, TX 75020
33
See all 33 photos
$347,500
Est. payment /mo
4 Beds
4 Baths
5,009 Sqft Lot
New

505 W Morgan Street Denison, TX 75020

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Key Details

Property Type Multi-Family

Sub Type Quadruplex

Listing Status Active

Purchase Type For Sale

Subdivision Stevens Add

MLS Listing ID 21256732

Bedrooms 4

Full Baths 4

HOA Y/N None

Total Fin. Sqft 2770

Year Built 1915

Lot Size 5,009 Sqft

Acres 0.115

Property Sub-Type Quadruplex

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

Location

State TX

County Grayson

Direction GPS

Interior

Interior Features Decorative Lighting, High Speed Internet Available, Natural Woodwork

Heating Space Heater, Wall Furnace

Cooling Ceiling Fan(s), Electric, Multi Units, Wall/Window Unit(s)

Flooring Hardwood

Appliance Electric Range, Electric Water Heater

Heat Source Space Heater, Wall Furnace

Exterior

Utilities Available City Sewer, City Water, Co-op Electric

Roof Type Composition

Garage No

Building

Story Two

Foundation Pillar/Post/Pier

Level or Stories Two

Structure Type Siding

Schools

Elementary Schools Goldenrule

Middle Schools Henry Scott

High Schools Denison

School District Denison Isd

Others

Acceptable Financing 1031 Exchange, Cash, Conventional, FHA, Texas Vet, USDA Loan, VA Loan

Listing Terms 1031 Exchange, Cash, Conventional, FHA, Texas Vet, USDA Loan, VA Loan

Special Listing Condition Aerial Photo, Owner/ Agent

Virtual Tour https://www.propertypanorama.com/instaview/ntreis/21256732


North Texas Real Estate Info Systems (NTREIS) -MetroTex and Collin County (CCAR)
Listed by Jett Waters • Bray Real Estate Group- Dallas

NEARBY SCHOOL & BUSINESS

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Brandon Watkins

Brandon Watkins

Agent | License ID: 0540100

+1(972) 978-2240

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505 W Morgan Street