501 W Collins St · Denison, TX 75020

$150,000

5 bd · 3.0 ba · 2,016 sqft · Manufactured public records · 121 Days on market

Built 2003 0.30 ac lot $74/sqft · 40% below area Est $251k · 40% under

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Why this score? — see what drove the B grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +26.7/30.0
• ARV discount +15.0/15.0
• DSCR +9.2/10.0
• 1% rule +8.3/10.0
• Schools +3.7/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This 5 bedroom 3 bath home sits conveniently in the heart of Denison, minutes to schools, retail, downtown Denison, Medical and US Hwy 75. 2 large lots make up the third of an acre this home sits on, with the back yard being primarily fenced. Weather you fix it up with new carpet, paint and siding or remove the spacious doublewide and build, this home and location are amazing, with established homes on three sides and new town homes to the east. This home needs a bit of TLC, has been a rental and you can see what all is needed when you enter, carpet, a bit of paint, repair a few doors and one of the three full baths. This is priced to sell with those fixes in mind along with new skirting surrounding the home. Take a look today with your favorite agent, a bit of elbow grease and this home will be back to the amazing home the sellers had before the tenant. Small front porch and back stairs and landings, this is a massive amount of home for the money! buyer responsible to verify all information, disclosure and survey in documents.

Key facts

• Spacious doublewide
• Small front porch
• Two large lots

Tags

• TWO LARGE LOTS
• BACK YARD FENCED
• SPACIOUS DOUBLEWIDE
• SMALL FRONT PORCH
• BACK STAIRS AND LANDINGS

🏷️ Possibly a rental listed for sale. The $150,000 price doesn't fit this home's estimated sale value (~$250,804) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 5-bed/3.0-bath manufactured listed at $150k.

Deal economics

• At list price, monthly cash flow is $406 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $150k).
• Recommended offer: $132k (12.0% below list) — sets the bar for market timing.
• Cap rate 9.5% vs local median 3.8% in Denison — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 73/100 on livability (#221 in TX) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A; Watch: health & safety D+, schools D-, amenities F.
• Denison ISD (urban): math 43% / reading 44% proficiency, ranked #315 of 826 in TX (top 38%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents flat; 485 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 2,272 units permitted in Grayson County in 2024 (750 in 5+ unit buildings).
• This rent runs 33% of the median local income ($72k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Grayson County population projected at +12% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• It's been on market 121 days — a 12% lower offer ($132k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 23y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Risks & watch-outs

• Watch-outs: property tax is 2.6% of price.
• Climate carrying-cost: moderate wildfire risk; extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $132,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 121 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
6. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
7. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
8. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 1.33% ✓
• Cap rate: 9.54%
• Cash-on-cash: 11.61%
• DSCR: 1.52
• GRM: 6.3

CMA / ARV

• ARV (median comp): $250,804
• List price: $150,000
• Delta: -40.19%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 0.05% rent growth · sell at horizon

5-year hold

• IRR: -2.7%
• Equity multiple: 0.90×
• Total profit: $-4,064
• Equity at exit: $22,365

10-year hold

• IRR: 3.1%
• Equity multiple: 1.19×
• Total profit: $7,985
• Equity at exit: $12,969

Cash invested: $42,000 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 87 Strongly Landlord-Friendly
• State Texas: 87 Strongly Landlord-Friendly · R+5
• County: — inherits STATE
• City: — inherits STATE

3-day notice; statewide preemption; one of the fastest eviction climates; Travis County (Austin) slightly slower.

Methodology + full state rankings →

ZIP-level market 75020

• Rents YoY: 0.1%
• Active inventory: 485
• Price-to-rent: 6.3×

Monthly cashflow live

• Estimated rent: $1,996 medium
• Mortgage (P&I): −$787
• Tax from tax record: −$321 /mo · $3,858/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$419
• Net cashflow: $406

Break-even live

Break-even rent $1,482

Max offer price $150,000

Occupancy floor 75%

Sensitivity live

Price	-10% $491	-5% $449	+0% $406	+5% $364	+10% $322
Rent	-10% $249	-5% $328	+0% $406	+5% $485	+10% $564
Rate	-1.0pp $482	-0.5pp $445	base $406	+0.5pp $368	+1.0pp $328

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $37,500
• Closing costs: $4,500
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1931 Ave a Denison, TX	4.0	3.0	1450	$1,695	$1.17	44d	1	0.49mi
1921 Ave a Denison, TX	4.0	3.0	1700	$1,995	$1.17	44d	1	0.49mi
1730 S Center St Denison, TX	4.0	1.5	1700	$1,500	$0.88	44d	1	0.87mi

Listing history 27 events

1. 2026-06-19
   days on market $150,000 Active 121 DOM
2. 2026-06-18
   days on market $150,000 Active 120 DOM
3. 2026-06-17
   days on market $150,000 Active 119 DOM
4. 2026-06-16
   days on market $150,000 Active 118 DOM
5. 2026-06-15
   days on market $150,000 Active 117 DOM
6. 2026-06-14
   days on market $150,000 Active 115 DOM
7. 2026-06-13
   days on market $150,000 Active 114 DOM
8. 2026-06-10
   days on market $150,000 Active 112 DOM
9. 2026-06-09
   days on market $150,000 Active 111 DOM
10. 2026-06-08
    days on market $150,000 Active 110 DOM
11. 2026-06-07
    days on market $150,000 Active 109 DOM
12. 2026-06-05
    days on market $150,000 Active 106 DOM
13. 2026-06-03
    days on market $150,000 Active 105 DOM
14. 2026-06-02
    days on market $150,000 Active 104 DOM
15. 2026-06-01
    days on market $150,000 Active 103 DOM
16. 2026-05-31
    days on market $150,000 Active 102 DOM
17. 2026-05-30
    days on market $150,000 Active 101 DOM
18. 2026-02-16
    listed $150,000 Active 1049-char remark

    Show marketing remark (1049 chars)

    This 5 bedroom 3 bath home sits conveniently in the heart of Denison, minutes to schools, retail, downtown Denison, Medical and US Hwy 75. 2 large lots make up the third of an acre this home sits on, with the back yard being primarily fenced. Weather you fix it up with new carpet, paint and siding or remove the spacious doublewide and build, this home and location are amazing, with established homes on three sides and new town homes to the east. This home needs a bit of TLC, has been a rental and you can see what all is needed when you enter, carpet, a bit of paint, repair a few doors and one of the three full baths. This is priced to sell with those fixes in mind along with new skirting surrounding the home. Take a look today with your favorite agent, a bit of elbow grease and this home will be back to the amazing home the sellers had before the tenant. Small front porch and back stairs and landings, this is a massive amount of home for the money! buyer responsible to verify all information, disclosure and survey in documents.

19. 2010-10-15
    historical
20. 2010-05-28
    listed $54,900
21. 2006-01-23
    soldstatus
22. 2006-01-02
    historical
23. 2005-12-23
    listed $37,000
24. 2004-06-03
    soldstatus
25. 2003-09-04
    soldstatus
26. 2003-07-30
    historical
27. 2003-07-11
    listed $10,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast TX · Resets to sale price

• Current annual tax: $3,858 · $321/mo
• Projected year-2 tax: $3,858 · $321/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 6/10 Major 7 d/yr ≥108°F today · 21 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 20% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $23,955
• − Mortgage interest: −$8,402
• − Property taxes: −$3,858
• − Insurance: −$750
• − Repairs & maintenance: −$1,916
• − Management: −$1,916
• − Depreciation: −$4,364
• Taxable income: $2,748
• Est. tax owed @ 24.0%: −$660
• After-tax cash flow: $4,218/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Denison ISD
• NCES district ID: 4816710
• Math proficiency: 43% ▼ -7.00%
• Reading proficiency: 44% ▼ -3.00%
• Median HH income: $41,650
• Composite: 36.6/100
• National rank: #4629
• State rank: #315 of 826 in TX

Livability — Denison

• Score: 73/100
• State rank: #221
• US rank: #5428

Category grades

Amenities F Commute F Cost of living A+ Crime A Employment D- Housing A+ Health & safety D+ User ratings A+

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Denison, TX
• County: Grayson County · 108,053 people
• City population: 34,008
• Metro: Sherman-Denison, TX
• Population (ZIP): 24,835
• Household income: $71,605
• Rent vs Own: 41.3% rent · 58.7% own
• Severe rent burden: 997.0

Population outlook (Grayson County) Hauer SSP2

• Today (2025): 134,540 people
• By 2030: 138,653 · +3.1%
• By 2040: 145,958 · +8.5%
• By 2050: 151,218 · +12.4%
• By 2075: 161,802 · +20.3%
• By 2100: 159,036 · +18.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (73%)
• Race & ethnicity: White 73% Hispanic / Latino 13% Two or more races 9% Black 6%
• Hispanic origin (detail): Mexican 11%
• Common ancestry: Slovak 5% Serbian 2% Portuguese 2%
• Foreign-born: 4% · Canada
• Languages at home: 93% English-only · Spanish 6%

Political lean MEDSL · Grayson

• 2024 margin: Solid R (+54.3) · D 22.5% · R 76.7%
• 2008→2024 swing: -16.4pp toward R · 2008: -37.9pp · 2024: -54.3pp
• All cycles: 2024: R+54.3 2020: R+49.9 2016: R+53.1 2012: R+48.0 2008: R+37.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -295.96%
• Current HPI: 257.1806
• Rent YoY: ▬ 0.05%
• Metro: Sherman-Denison, TX
• State GDP YoY: ▲ 3.95%
• F500 in state: 110

Industry mix (Fortune 500 HQ in TX)

Industry	F500 HQs	Revenue
▸Energy	16	$1,198B
▸Technology	5	$198B
▸Engineering / Construction	4	$72B
▸Energy Services	3	$60B
▸Utilities	3	$41B
▸Healthcare	2	$330B

Price history

+1400.0% since first listed

10 events — show timeline

• 2026-02-16 Listed $150,000 NTREIS
• 2010-10-15 Listing Removed — NTREIS
• 2010-05-28 Listed $54,900 NTREIS
• 2006-01-23 Sold (MLS) — NTREIS
• 2006-01-02 Listing Removed — NTREIS
• 2005-12-23 Listed $37,000 NTREIS
• 2004-06-03 Sold (Public Records) — Public Records
• 2003-09-04 Sold (Public Records) — Public Records
• 2003-07-30 Listing Removed — NTREIS
• 2003-07-11 Listed $10,000 NTREIS

Property tax history

+4.9%/yr

Latest (2025): $3,858 · -4.1% YoY. Source: county tax records.