505 W MORGAN STREET, DENISON, TX 75020
Homes for sale in Denison.
Homes for sale in 75020.
505 W Morgan Street
Denison, TX 75020
List Price$347,500
Listing #21256732
4
Bedrooms
4 full
Bathrooms
2,770
Square Feet
4
Number of Units
Multi-Unit Residential
Type
About This Property
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 Features
Location Information
County
Grayson
Subdivision
Stevens Add
Interior Features
Interior
Decorative/Designer Lighting Fixtures, High Speed Internet, Natural Woodwork
Cooling
Ceiling Fan(s), Electric, Multi Units, Wall/Window Unit(s)
Full Baths
4
Floors
Hardwood
Has Fireplace
No
Appliances
Electric Range, Electric Water Heater
Number of Fireplaces
0
Total Number of Units
4
Heating
Space Heater, Wall Furnace
Exterior Features
Stories
2
Pool Description
None
Foundation
Pillar/Post/Pier
Lot Size in Acres
0.115
Roof
Composition
Lot Size in Sq. Ft.
5,009
Utilities
Electricity Available, Sewer Available, Water Available
Buildings
2
Parking Description
Common, Driveway
Building Total Area (Sq. Ft.)
2,770
Garage Spaces
0
Is One Story
No
Patio / Deck Description
Covered, Enclosed, Front Porch
School
Elementary School District
Denison ISD
Jr. High School
Henry Scott
Elementary School
Goldenrule
High School
Denison
Additional Information
Year Built Details
Preowned
Status
Active
Property Type
RI
Has a Home Owners Association
No
Property SubType
Quadruplex
Documents Available
Aerial
Year Built
1915
Similar Listings
Mortgage Calculator
$1,622
per month
30 Year Fixed. 3.52% Interest Rate.
Principal + Interest
$1,252
Monthly Tax
$289
Monthly Insurance
$81
yrs
%
$
$
Based on a fully amortized fixed rate loan. Ask your agent for the tax rates in your area. Insurance estimate is based on an average cost, your final premium cost will be determined by the type of coverage you select. This program only provides an estimate.
Schools
Walk Score
Listing courtesy of
Jett Waters, Bray Real Estate Group- Dallas
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NTREIS - North Texas data last updated at May 1, 2026, 6:14 PM CT
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