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Victoria Umukoro

vicky.luxuryhomes@outlook.com +1(682) 785-9551

$ 347,500

Est. payment -/mo

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505 W Morgan ST Denison, TX 75020

4 Beds

4 Baths

2,770 SqFt

UPDATED:

Key Details

Property Type Multi-Family

Sub Type Quadruplex

Listing Status Active

Purchase Type For Sale

Square Footage 2,770 sqft

Price per Sqft $125

Subdivision Stevens Add

MLS Listing ID 21256732

Bedrooms 4

Full Baths 4

HOA Y/N No

Year Built 1915

Lot Size 5,009 Sqft

Acres 0.115

Property Sub-Type Quadruplex

Property 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

Location

State TX

County Grayson

Direction GPS

Interior

Interior Features Decorative/Designer Lighting Fixtures, High Speed Internet, Natural Woodwork

Heating Space Heater, Wall Furnace

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

Flooring Hardwood

Fireplace No

Appliance Electric Range, Electric Water Heater

Exterior

Parking Features Common, Driveway

Pool None

Utilities Available Electricity Available, Sewer Available, Water Available

Water Access Desc Public

Roof Type Composition

Porch Covered, Enclosed, Front Porch

Total Parking Spaces 6

Garage No

Building

Foundation Pillar/Post/Pier

Sewer Public Sewer

Water Public

Level or Stories Two

Schools

Elementary Schools Goldenrule

Middle Schools Henry Scott

High Schools Denison

School District Denison Isd

Others

Senior Community No

Tax ID 146033

Acceptable Financing Cash, Conventional, 1031 Exchange, FHA, Texas Vet, USDA Loan, VA Loan

Listing Terms Cash, Conventional, 1031 Exchange, FHA, Texas Vet, USDA Loan, VA Loan

Virtual Tour https://www.propertypanorama.com/instaview/ntreis/21256732

Victoria Umukoro

Agent | License ID: 0817471

+1(682) 785-9551

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Victoria Umukoro

505 W Morgan ST Denison, TX 75020

Key Details

Location

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Exterior

Building

Schools

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505 W Morgan ST