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About This Home
This 4-bedroom, 4-bathroom multi-family at 505 W Morgan Street in Denison, TX is listed for $347,500. Built in 1915, on a 0.11 acres lot.
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
Key Features
- Built in 1915
- 0.12 acre lot
- 2 stories
- 6 parking spaces
Property Details
Amenities
Monthly Cost Estimate
$1,859/mo
20% down · 6.5% · 30 years
Estimates only. Actual payments may vary.
Location
505 W Morgan Street
Denison, TX 75020
Stevens Add
Features & Amenities
Interior Features
Property Details
Flooring
Parking
Heating
Cooling
Appliances
Questions & Answers
This 4-bedroom, 4-bathroom multi-family at 505 W Morgan Street is listed at $347,500. The estimated monthly payment is $1,506 based on 20% down at 6.5% interest.
Key features include: Built in 1915, 0.12 acre lot, 2 stories, 6 parking spaces. Interior Features: Decorative Lighting, High Speed Internet Available, Natural Woodwork.
This property is listed by Jett Waters and can be reached at 9723749994 or jett@brayreg.com.
