109 N Hickory Ave · Denison, TX 75020

$175,000

3 bd · 2.0 ba · 1,148 sqft · SingleFamily · 31 Days on market

Built 1964 10,019 sqft lot Est $164k · 7% over

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Why this score? — see what drove the D- 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 +14.0/30.0
• ARV discount +4.5/15.0
• DSCR +4.3/10.0
• Schools +3.7/10.0
• Livability +3.7/5.0
• 1% rule +3.5/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Located at 109 N Hickory Ave in Denison, this charming 3-bedroom, 2-bath home offers 1,148 square feet with a nice functional layout that makes great use of the space. Built in 1964, the home features a cozy sunroom perfect for relaxing, a good-sized backyard with plenty of room to entertain or play, and a comfortable feel throughout. Whether you’re a first-time buyer, investor, or looking to downsize, this property offers plenty of potential and character in a convenient Denison location.

Key facts

• Denison location
• Backyard
• Sunroom

Tags

• SUNROOM
• BACKYARD
• FUNCTIONAL LAYOUT
• DENISON LOCATION

Property features AI

Finance

• Financial info: Accepts cash and conventional financing; No second mortgage listed
• HOA & community: No homeowners association

Exterior

• Parking: Attached carport; 1 covered parking space; 1 carport space
• Utilities: City water; City sewer; Not in a municipal utility district
• Home design: Single-family residence; Residential property; Attached entry; One story; Built in 1964
• Construction: Brick and siding exterior; Composition roof; Pillar/post/pier foundation
• Exterior features: Chain link fencing; Few trees; Interior lot

Interior

• Kitchen: Dishwasher; Electric oven; Refrigerator
• Bedrooms: 3 bedrooms (primary bedroom on main level)
• Flooring: Ceramic tile; Vinyl
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (electric); Central air conditioning (electric)
• Interior features: Cable TV available; High-speed internet available; One living area; One dining area; One-level layout
• Laundry & utility: Full-size washer/dryer area

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $175k.

Deal economics

• At list price, monthly cash flow is $24 ($282/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $150k (14.5% below list).
• Recommended offer: $150k (14.5% below list) — sets the bar for 1% rule.
• Cap rate 6.5% 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+, amenities F, commute 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.
• Zoned schools: Mayes El (math 42% / reading 42%, grade F, #1,335 of 4,322 statewide, top 33%, 471 students, 64% FRL).
• Market conditions: Rents flat; 485 active listings in the ZIP; 19 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 53% 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k 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 31 days — a 3% lower offer ($170k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: moderate wildfire risk; extreme-heat days projected 7→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $149,554 (14.5% below list)

Questions for the listing agent

1. It's been on market 31 days. Have you received any prior offers? Is the seller open to a 15% concession, seller financing, or rate buy-down credit?
2. Built in 1964 — 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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 0.85% ✗
• Cap rate: 6.45%
• Cash-on-cash: 0.58%
• DSCR: 1.03
• GRM: 9.8

CMA / ARV

• ARV (on-the-fly): $164,164
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
124 N Imperial Dr	0.08mi	3/1.5	1,112 (-3%)	2mo	$134,400	$121	87
162 N Imperial Dr	0.22mi	3/2.0	1,158 (+1%)	3mo	$205,000	$177	86
167 Chickadee Ln	0.19mi	3/1.5	1,131 (-2%)	4mo	$79,000	$70	83
104 N Imperial Dr	0.10mi	3/2.0	1,051 (-8%)	2mo	$204,900	$195	80
145 Bob White Rd	0.07mi	3/1.5	1,264 (+10%)	2mo	$165,000	$131	76
152 N Imperial Dr	0.16mi	3/1.5	1,187 (+3%)	11mo	$169,900	$143	75
2404 Miller St	0.26mi	3/2.0	1,248 (+9%)	3mo	$239,000	$192	70
2912 W Elm St	0.58mi	4/2.0 (+1)	1,206 (+5%)	2mo	$117,900	$98	58
1108 Park Dr	0.69mi	3/1.0	1,128 (-2%)	11mo	$50,000	$44	52
2906 W Parnell St	0.70mi	3/2.0	1,220 (+6%)	10mo	$175,000	$143	48
908 Layne	0.55mi	3/2.0	1,320 (+15%)	10mo	$261,500	$198	41
2919 W Parnell St	0.75mi	3/2.0	1,285 (+12%)	8mo	$200,000	$156	39

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

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

5-year hold

• IRR: -18.6%
• Equity multiple: 0.36×
• Total profit: $-31,181
• Equity at exit: $26,093

10-year hold

• IRR: -18.1%
• Equity multiple: 0.14×
• Total profit: $-41,941
• Equity at exit: $15,131

Cash invested: $49,000 (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: 9.8×

Monthly cashflow live

• Estimated rent: $1,496 high
• Mortgage (P&I): −$918
• Tax from tax record: −$167 /mo · $2,008/yr
• Insurance: −$73
• HOA: −$0
• Vacancy / Maint / Mgmt: −$314
• Net cashflow: $24

Break-even live

Break-even rent $1,466

Max offer price $175,000

Occupancy floor 93%

Sensitivity live

Price	-10% $123	-5% $73	+0% $24	+5% $-26	+10% $-76
Rent	-10% $-95	-5% $-36	+0% $24	+5% $83	+10% $142
Rate	-1.0pp $112	-0.5pp $68	base $24	+0.5pp $-22	+1.0pp $-68

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: $43,750
• Closing costs: $5,250
• Reserves months: —
• Total cash needed: —

Rent comps 19 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3050 Viking St Denison, TX	1.0–2.0	1.0–2.0	887	$1,450	$1.63	21d	11	0.17mi
731 Layne Dr Denison, TX	3.0	2.0	1215	$1,600	$1.32	45d	1	0.40mi
2824 W Crawford St Denison, TX	1.0–2.0	1.0	825	$999	$1.21	21d	2	0.44mi
102 Lum Ln Unit 101 Denison, TX	3.0	2.0	1158	$1,600	$1.38	44d	1	0.45mi
1035-1033 Ray Dr Denison, TX	3.0	3.0	1328	$1,450	$1.09	44d	1	0.70mi
1905 W Morton St #20 Denison, TX	2.0	1.5	1008	$1,250	$1.24	44d	1	0.81mi
1238 Carla St Denison, TX	3.0	1.5	1172	$1,350	$1.15	44d	1	0.82mi
1207 Bruce Dr Denison, TX	3.0	2.0	1298	$1,540	$1.19	44d	1	0.84mi
1721 W Walker St Denison, TX	2.0	1.0	1322	$1,400	$1.06	44d	1	1.05mi
1731 W Elm St Denison, TX	3.0	2.0	1200	$1,550	$1.29	21d	1	1.06mi
1731 W Elm St Denison, TX	3.0	2.0	1200	$1,575	$1.31	44d	1	1.06mi
1701 W Elm St Denison, TX	2.0	1.0	800	$900	$1.12	21d	1	1.14mi
1703 W Elm St Denison, TX	2.0	1.0	800	$875	$1.09	21d	1	1.15mi
1602 W Elm St Denison, TX	3.0	2.0	1141	$1,495	$1.31	44d	1	1.20mi
1829 Ridgewood Rd Denison, TX	3.0	1.0	1040	$1,100	$1.06	44d	1	1.22mi
1326 W Sears St Denison, TX	2.0	1.0	1318	$1,350	$1.02	21d	1	1.33mi
1805 Waterloo Ave Denison, TX	3.0	1.5	1242	$1,450	$1.17	21d	1	1.40mi
1231 W Main St Denison, TX	2.0	1.5	1203	$1,575	$1.31	21d	1	1.41mi
1311 W Day St Denison, TX	2.0	1.0	1188	$1,050	$0.88	21d	1	1.47mi

Listing history 22 events

1. 2026-06-19
   days on market $175,000 Active 31 DOM
2. 2026-06-18
   days on market $175,000 Active 30 DOM
3. 2026-06-17
   days on market $175,000 Active 29 DOM
4. 2026-06-16
   days on market $175,000 Active 28 DOM
5. 2026-06-15
   days on market $175,000 Active 27 DOM
6. 2026-06-14
   days on market $175,000 Active 25 DOM
7. 2026-06-13
   days on market $175,000 Active 24 DOM
8. 2026-06-10
   days on market $175,000 Active 22 DOM
9. 2026-06-09
   days on market $175,000 Active 21 DOM
10. 2026-06-08
    days on market $175,000 Active 20 DOM
11. 2026-06-07
    days on market $175,000 Active 19 DOM
12. 2026-06-05
    days on market $175,000 Active 16 DOM
13. 2026-06-03
    days on market $175,000 Active 15 DOM
14. 2026-06-02
    days on market $175,000 Active 14 DOM
15. 2026-06-01
    days on market $175,000 Active 13 DOM
16. 2026-05-31
    days on market $175,000 Active 12 DOM
17. 2026-05-30
    days on market $175,000 Active 11 DOM
18. 2026-05-19
    listed $175,000 Active
19. 2018-11-13
    soldstatus
20. 2015-10-06
    soldstatus
21. 2009-12-07
    soldstatus
22. 1992-05-12
    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: $2,008 · $167/mo
• Projected year-2 tax: $3,202 · $267/mo
• Expected delta: +$1,194/yr (+$100/mo · 59.5%)

ⓘ 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 · 22 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 19% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,946
• − Mortgage interest: −$9,803
• − Property taxes: −$2,008
• − Insurance: −$875
• − Repairs & maintenance: −$1,436
• − Management: −$1,436
• − Depreciation: −$5,091
• Taxable loss: −$2,702
• Est. tax savings @ 24.0%: +$648
• After-tax cash flow: $930/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

5 events — show timeline

• 2026-05-19 Listed $175,000 NTREIS
• 2018-11-13 Sold (Public Records) — Public Records
• 2015-10-06 Sold (Public Records) — Public Records
• 2009-12-07 Sold (Public Records) — Public Records
• 1992-05-12 Sold (Public Records) — Public Records

Property tax history

+1.2%/yr

Latest (2025): $2,008 · +7.2% YoY. Source: county tax records.