Active

505 W Morgan Street

Denison, Texas 75020

$347,500 $1,465/Mo

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Overview

Bed

Bath

0.12

Acre(Lot)

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

Property Details

Property Type : Residential Income

Price : $347,500

AD Id : 77884720

MLS Id : 560623502

Beds : 4

Lot Size : 0.12 Acre

Year Built : 1915

County : Grayson

Subdivision: Stevens Add

Map

What's Nearby

Nearby Areas

Features

Bedroom Information

Total Bedrooms: 4

Bathroom Information

Total Baths: 4 Full Baths: 4 Half Baths: 0
Interior Features

Decorative Lighting,High Speed Internet Available,Natural Woodwork

Appliances

Electric Range,Electric Water Heater

Utilities

City Sewer,City Water,Co-op Electric
Cooling Features

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

Heating Source

Space Heater,Wall Furnace

Fireplace

Number of Fireplaces: 0

Building Information

Built Year: 1915 Building Area Total: 2,770 Construction: Siding Roof Type: Composition
Foundation

Pillar/Post/Pier
Patio And Porch

Covered,Enclosed,Front Porch

Construction Materials

Siding

Lot Information

Lot Size (Acr): 0.1150 Lot Size Units: Acres Lot Size Square Feet: 5,009
Property Information

Property Type: Residential Income Property Sub Type: Quadruplex Subdivision: Stevens Add City: Denison State: Texas Directions: GPS Property Status: Active Levels: Two Property Age: 111 Year Built Details: Preowned

Listing Price Information

Original List Price: $347,500
Listing Information

Possession: Closing/Funding

Tax Information

Parcel Number: 146033 Tax Block: 21 Tax Legal Description: STEVENS ADDN, BLOCK 21, LOT S 100FT 15

Parking Information

Garage Space: 0 Carport Spaces: 0 Parking: 6 Parking Features: Common,Driveway
Homeowners Association Information

HOA Type: None

School Information

Elementary School: Goldenrule Middle School: Henry Scott High School: Denison School District: Denison ISD
Utility Information

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

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Nearby Home Value

Address	Estimate	Bed	Bath	Sq. Ft
617 W Gandy Street, Denison, TX, 75020	$399,000	6	5	--
909 W Chestnut Street, Denison, TX, 75020	$299,000	--	--	--
809 - 811 W Coffin Street, Denison, TX, 75020	$390,000	6	6	--
3060 W Crawford Street .., Denison, TX, 75020	$530,000	6	6	--
121 Vandenburg Drive, Denison, TX, 75020	$159,000	4	2	--
119 Vandenburg Drive, Denison, TX, 75020	$159,000	4	2	--
63 Mundt Street #B, Denison, TX, 75020	$149,500	4	2	--
58 Pershing Drive, Denison, TX, 75020	$215,000	4	2	--
6 Pershing Drive, Denison, TX, 75020	$149,500	4	2	--
29 Macarthur Drive, Denison, TX, 75020	$217,000	4	2	--

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Disclosure: Listing information provided in part by the North Texas Real Estate Information Systems, Inc, for personal, non-commercial use by viewers of this site and may not be reproduced or redistributed. All information is deemed reliable but not guaranteed. Copyright © NTREIS 2026. All rights reserved

ByOwner last updated this listing 06/18/2026 @ 09:48

MLS: 560623502 LISTED BY: Jett Waters, Bray Real Estate Group- Dallas 800-257-1242 SOURCE: NTREIS - North Texas Real Estate Information