Next Level Realty

505 W Morgan Street

Denison, TX 75020

MLS#: 21256732

$347,500

Status: Active
Listing number: 21256732
Listing provided by: Bray Real Estate Group- Dallas
Listing agent phone: None
Last update: N/A
New on site 3 days ago
Browse Properties
Stevens Add - Residential Income

Property

Beds

4

Full Baths

4

1/2 Baths

None

Year Built

1915

Sq.Footage

2,770

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

Features & Amenities

Interior

  • Other Interior Features

    Natural Woodwork, High Speed Internet

  • Total Bedrooms

    4

  • Bathrooms

    4

  • Basement YN

    NO

  • Cooling YN

    YES

  • Cooling

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

  • Heating YN

    YES

  • Heating

    Space Heater, Wall Furnace

  • Pet friendly

    N/A

Exterior

  • Garage

    No

  • Parking

    Common, Driveway

  • Patio and Porch Features

    Covered, Enclosed, Front Porch

  • Pool

    No

  • Waterfront YN

    NO

Area & Lot

  • Lot Size(acres)

    0.115

  • Lot Size(square feet)

    5009.4

  • Property Type

    Residential Income

  • Property Sub Type

    Quadruplex

Price

  • Sales Price

    $347,500

  • Sq. Footage

    N/A

  • Price/SqFt

    N/A

HOA

  • Association

    No

School District

  • Elementary School

    Goldenrule

  • Middle School

    Henry Scott

  • High School

    Denison

Property Features

  • Foundation Details

    Pillar/Post/Pier

  • Senior Community YN

    NO

  • Sewer

    Public Sewer

  • Water Source

    Public

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Location

County

Grayson

Elementary School

Goldenrule

Middle School

Henry Scott

High School

Denison

Listing Courtesy of Jett Waters , Bray Real Estate Group- Dallas

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Agent Joe Boston

AGENT

Joe Boston

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(817) 881-7100

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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

505 W Morgan Street

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