Link Copied
Listed price in listed location currency (USD).
$347,500

446

MLS® 21256732

  • Key Facts
  • Description
  • Map

Key Facts

Type Quadruplex
Levels Residential Income
Size -
Garage 
Taxes 
Days Active 0
Lot Size 
Approx. Age 1915
MLS® Number 21256732

Property Address: 505 W Morgan St, Denison, TX, 75020-4477

Average square foot calculated using Size range provided by listing agent.

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
MLS® Number21256732
Laundry Level
Central VacNo
FireplaceNo
Acreage
Exterior
Garage
Approx. Age1915
Basement
DrivewayCommon, Driveway
Garage Spaces
Heat
A/C
Heating Fuel

Extras

Price History

-End Date
Not Sold YetSold Price

For Sale

May 1, 2026List Date
$347,500List Price
  • Commute

Commute

Starting Address
Destination Address
505 W Morgan St, Denison, TX

Like what you see?

Complete the form and we'll be in touch. No login necessary.

Add a Comment
Loading...

Similar Listings

Comparable Properties