Date
Details
Price
Change
Source
5/01/2026
Listed
$347,500
—
MLS
Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.
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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
Full Property Details
Full Property Details for 505 W Morgan St
General
- Price: $347,500
- Status: Active
- Type: Multi-Family
- Source: NTREIS
- MLS ID: 21256732
- Updated: 5/1/2026
- Added to Site: 1 day(s) ago
Interior
- Interior Features: Decorative/Designer Lighting Fixtures, High Speed Internet, Natural Woodwork
- Appliances: Electric Range, Electric Water Heater
- Flooring: Hardwood
Rooms
Bathrooms
- Total Bathrooms: 4
- Full Bathrooms: 4
Bedrooms
- Total Bedrooms: 4
Exterior
- Porch/Patio/Deck: Covered, Enclosed, Front Porch
Parking
- Total Spaces: 6
- Parking Features: Common, Driveway
Location
- County: Grayson
- Subdivision: Stevens Add
- Driving Directions: GPS
School Information
- Elem School District: Denison ISD
- Midd School District: Denison ISD
- High School District: Denison ISD
- Elementary School: Goldenrule
- Middle School: Henry Scott
- High School: Denison
Heating & Cooling
- Air Conditioning: Yes
- Cooling Type: Ceiling Fan(s), Electric, Multi Units, Wall/Window Unit(s)
- Heating Type: Space Heater, Wall Furnace
Utilities
- Sewer: Public Sewer
- Water: Public
- Utility Description: Electricity Available, Sewer Available, Water Available
Structural Information
- # Buildings: 2
- Detached/Attached: Detached
- Roof: Composition
- Stories/Levels: 2
- Square Feet: 2,770
- Sq. Ft. Source: Owner
- Year Built: 1915
Lot Features
- Lot Size (Acres): 0.115
- Lot Size (Sq. Ft.): 5,009.4
Financial Considerations
- Terms: Cash, Conventional, 1031 Exchange, FHA, Texas Vet, USDA Loan, VA Loan
Disclosures and Reports
- Documents Avail.: Aerial
- Legal Description: STEVENS ADDN, BLOCK 21, LOT S 100FT 15
- Disclosures/Rstr.: Owner Is Listing Agent
- Property ID: 146033
- Block: 21
Listed by Bray Real Estate Group- Dallas, Jett Waters
We Value Your Privacy
We Value Your Privacy
We Value Your Privacy
Listing agent
— 505 W Morgan St —
Jett Waters
Bray Real Estate Group- Dallas
972-765-5651
NMLS#: 1598647Get Pre-Approved Today
Schools
Schools serving 505 W Morgan St
School District:Denison Independent School District
| Name | Grades | Distance |
|---|---|---|
Terrell Elementary School 230 Martin Luther King Street, Denison, TX 75020 | PK-4 | 0.9 mi |
Henry Scott Middle 1901 South Mirick Avenue, Denison, TX 75020 | 7-8 | 1.1 mi |
Denison High School 4200 Texas 91, Denison, TX 75020 | 9-12 | 2.8 mi |
Disclaimer:
School attendance boundaries provided by ATTOM Data Solutions and are for reference only. Contact the school directly to verify enrollment eligibility.
Price & Sales History for 505 W Morgan St
Tax History
Tax History for 505 W Morgan St
Year
Property Taxes
Change
Tax Assessment
Change
2024
$5,133
83%
$221,835
—
2023
$2,811
-3%
$220,947
78%
2022
$2,896
—
$124,090
2%
2022
$2,896
64%
$121,902
69%
2021
$1,762
100%
$71,973
24%
2015
-100%
$58,198
102%
2018
$795
-49%
$28,877
-51%
2019
$1,567
135%
$59,422
147%
2017
$666
19%
$24,024
20%
2016
$560
-45%
$20,015
-45%
2015
$1,021
—
$36,154
—
2014
$1,021
2%
$36,154
2%
2013
$1,004
—
$35,528
—
Disclaimer: Historical tax information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.
Estimate the Cost
Estimate the Cost for 505 W Morgan St
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505 W Morgan Street, Denison, TX 75020 (MLS# 21256732) is a Multi-Family property with 4 units containing 4 bedrooms and 4 full bathrooms. 505 W Morgan Street is currently listed for $347,500 and was received on May 01, 2026. Want to learn more about 505 W Morgan Street? Do you have questions about finding other Multi-Family real estate for sale in Denison? You can browse all Denison real estate or contact a Coldwell Banker agent to request more information.