3 Pershing Dr Unit A · Denison, TX 75020

$190,000

5 bd · 2.5 ba · 1,289 sqft · Other public records · 36 Days on market

Built 1945 0.25 ac lot

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Why this score? — see what drove the C- 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 +22.3/30.0
• ARV discount +7.5/15.0
• DSCR +7.1/10.0
• 1% rule +5.4/10.0
• Livability +3.7/5.0
• Schools +2.9/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Fantastic investment opportunity with endless potential! This duplex offers flexibility for investors and owner-occupants alike — live in one unit while renovating the other, or create an income-producing property with strong upside potential. Unit A features 3 bedrooms and 1 full bath and is ready for a complete refresh, making it the perfect project for buyers looking to add value and customize the space to their vision. Unit B is move-in ready and offers 2 bedrooms and 1.5 bathrooms with numerous updates already completed, including a new AC unit, updated plumbing and stylish luxury vinyl flooring throughout. The interior also features stainless steel appliances, modern LED lightin

Key facts

• 0.25 acre lot
• Built 1945
• Listed 35 days

Property features AI

Finance

• Other: Property listed as For Sale with standard listing conditions; Parcel and lot recorded in public records; Horse not permitted
• Financial info: Listing accepts Cash, Conventional, FHA, and VA financing; No second mortgage indicated
• HOA & community: No homeowners association; No municipal utility district

Exterior

• Parking: Common / on-street / open / outside parking
• Security: Smoke detector(s); Carbon monoxide detector(s); Security lights
• Utilities: City water; City sewer; Cable available; All-weather road access
• Home design: Single family residence; One story; Residential property; Not attached to another unit
• Construction: Built in 1945 (preowned); Siding and wood construction; Composition/shingle roof; Slab foundation
• Exterior features: Lighting; Few trees; Interior lot; Large backyard with grass; Curbs

Interior

• Kitchen: Gas cooktop, gas oven, gas range; Plumbed for gas in kitchen
• Bedrooms: 5 bedrooms (all on main level)
• Flooring: Luxury vinyl plank; Wood
• Bathrooms: 2 full bathrooms; 1 half bathroom
• Heating & cooling: Central heating (electric); Central air (electric); Ceiling fan(s)
• Interior features: Open floorplan; Eat-in kitchen; Pantry; Walk-in closet(s); Decorative lighting; Cable TV available; High speed internet available
• Laundry & utility: Washer hookup

What this means for you Summary

Snapshot

• This is a 5-bed/2.5-bath other listed at $190k.

Deal economics

• At list price, monthly cash flow is $311 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $190k).
• Recommended offer: $184k (3.0% below list) — sets the bar for market timing.
• Cap rate 8.3% 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.
• Sherman ISD (urban): math 31% / reading 37% proficiency, ranked #546 of 826 in TX (top 66%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents flat; 485 active listings in the ZIP; 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 $6k 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 36 days — a 3% lower offer ($184k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1945 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major 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 $184,300 (3.0% below list)

Questions for the listing agent

1. It's been on market 36 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1945 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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.
6. 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.
7. 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: 1.04% ✓
• Cap rate: 8.26%
• Cash-on-cash: 7.02%
• DSCR: 1.31
• GRM: 8.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -8.8%
• Equity multiple: 0.69×
• Total profit: $-16,663
• Equity at exit: $28,330

10-year hold

• IRR: -3.6%
• Equity multiple: 0.79×
• Total profit: $-11,033
• Equity at exit: $16,428

Cash invested: $53,200 (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: 8.0×

Monthly cashflow live

• Estimated rent: $1,973 medium
• Mortgage (P&I): −$996
• Tax from tax record: −$172 /mo · $2,066/yr
• Insurance: −$79
• HOA: −$0
• Vacancy / Maint / Mgmt: −$414
• Net cashflow: $311

Break-even live

Break-even rent $1,579

Max offer price $190,000

Occupancy floor 79%

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: $47,500
• Closing costs: $5,700
• Reserves months: —
• Total cash needed: —

Listing history 21 events

1. 2026-06-19
   days on market $190,000 Active 36 DOM
2. 2026-06-18
   days on market $190,000 Active 35 DOM
3. 2026-06-17
   days on market $190,000 Active 34 DOM
4. 2026-06-16
   days on market $190,000 Active 33 DOM
5. 2026-06-15
   days on market $190,000 Active 32 DOM
6. 2026-06-14
   days on market $190,000 Active 30 DOM
7. 2026-06-13
   days on market $190,000 Active 29 DOM
8. 2026-06-10
   days on market $190,000 Active 27 DOM
9. 2026-06-09
   days on market $190,000 Active 26 DOM
10. 2026-06-08
    days on market $190,000 Active 25 DOM
11. 2026-06-07
    days on market $190,000 Active 24 DOM
12. 2026-06-03
    days on market $190,000 Active 20 DOM
13. 2026-06-02
    days on market $190,000 Active 19 DOM
14. 2026-06-01
    days on market $190,000 Active 18 DOM
15. 2026-05-31
    days on market $190,000 Active 17 DOM
16. 2026-05-30
    days on market $190,000 Active 16 DOM
17. 2026-05-14
    listed $190,000 Active 1079-char remark
18. 2022-06-03
    price $1,050
19. 2021-12-21
    soldstatus
20. 2021-12-21
    soldstatus
21. 1980-01-16
    soldstatus

ⓘ 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: $2,066 · $172/mo
• Projected year-2 tax: $3,477 · $290/mo
• Expected delta: +$1,411/yr (+$118/mo · 68.3%)

ⓘ 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 7/10 Severe
• 🌡 Heat 6/10 Major 7 d/yr ≥107°F today · 21 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 18% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $23,681
• − Mortgage interest: −$10,643
• − Property taxes: −$2,066
• − Insurance: −$950
• − Repairs & maintenance: −$1,895
• − Management: −$1,895
• − Depreciation: −$5,527
• Taxable income: $706
• Est. tax owed @ 24.0%: −$169
• After-tax cash flow: $3,566/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: Sherman ISD
• NCES district ID: 4840080
• Math proficiency: 31% ▼ -9.00%
• Reading proficiency: 37% ▼ -2.00%
• Median HH income: $42,587
• Composite: 28.79/100
• National rank: #6665
• State rank: #546 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

+17995.2% since first listed

5 events — show timeline

• 2026-05-14 Listed $190,000 NTREIS
• 2022-06-03 Price Changed $1,050 RENT.
• 2021-12-21 Sold (Public Records) — Public Records
• 2021-12-21 Sold (Public Records) — Public Records
• 1980-01-16 Sold (Public Records) — Public Records

Property tax history

+6.7%/yr

Latest (2025): $2,066 · +0.6% YoY. Source: county tax records.