913 W Chestnut St · Denison, TX 75020

$299,999

None bd · None ba · 3,330 sqft · MultiFamily · 85 Days on market

Built 1920 0.29 ac lot $90/sqft · 27% below area Est $413k · 27% 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 +30.0/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +8.5/10.0
• 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

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 3 units. confirmed

Listing remarks MLS

Great investment opportunity at 909 & 913 W. Chestnut! This income-generating triplex features three independent units, each with private access. Both lower-level units are currently leased, providing immediate rental income, while the top unit has been recently renovated and is move-in ready for a new tenant. Each unit has a separate electric meter, and all share a single water meter. Situated within walking distance of historic downtown Denison, the property offers easy access to dining, shopping, and entertainment. With two units already occupied and a freshly updated third unit, this property is ideal for investors seeking steady cash flow.

Key facts

• Walking distance
• Private access
• Recently renovated

Tags

• INCOME GENERATING TRIPLEX
• PRIVATE ACCESS
• RECENTLY RENOVATED
• MOVE IN READY
• SEPARATE ELECTRIC METER
• WALKING DISTANCE

🏷️ Possibly a rental listed for sale. The $299,999 price doesn't fit this home's estimated sale value (~$413,199) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 3 × 2-bed/1-bath units multifamily listed at $300k.

Deal economics

• At list price, monthly cash flow is $1k ($14k/yr) — positive. Per door: $378/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $300k).
• Recommended offer: $282k (6.0% below list) — sets the bar for market timing.
• Cap rate 10.8% vs local median 3.9% 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: Terrell El (math 52% / reading 47%, grade D, #865 of 4,322 statewide, top 21%, 350 students, 76% FRL); Henry Scott Middle (math 36% / reading 48%, grade D-, #572 of 1,662 statewide, top 36%, 749 students, 66% FRL); Denison H S (math 53% / reading 53%, grade C-, #437 of 1,632 statewide, top 27%, 1,310 students, 58% FRL).
• Market conditions: Rents flat; 492 active listings in the ZIP; 2,272 units permitted in Grayson County in 2024 (750 in 5+ unit buildings).
• At $4,061/mo this rent would consume 68% of the median local household income ($72k/yr) (locally 997% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $9k 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 85 days — a 6% lower offer ($282k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 13y 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: built in 1920 — expect roof / HVAC / electrical / plumbing capex.
• 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 $281,999 (6.0% below list)

Questions for the listing agent

1. It's been on market 85 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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.
9. 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.
10. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.35% ✓
• Cap rate: 10.83%
• Cash-on-cash: 16.21%
• DSCR: 1.72
• GRM: 6.2

CMA / ARV

• ARV (median comp): $413,199
• List price: $299,999
• Delta: -27.40%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
909 W Chestnut	0.01mi	—/—	3,460 (+4%)	14mo	$359,500	$104	82
326-328 W Morgan St	0.56mi	6/5.0	2,856 (-14%)	7mo	$395,000	$138	44

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: 3.8%
• Equity multiple: 1.14×
• Total profit: $12,026
• Equity at exit: $44,731

10-year hold

• IRR: 10.4%
• Equity multiple: 1.70×
• Total profit: $58,508
• Equity at exit: $25,938

Cash invested: $84,000 (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: 492
• Price-to-rent: 18.5×

Monthly cashflow live

• Estimated rent: $4,061 high
• Mortgage (P&I): −$1,573
• Tax est. 1.5%: −$375 /mo · $4,500/yr
• Insurance: −$125
• HOA: −$0
• Vacancy / Maint / Mgmt: −$853
• Net cashflow: $1,135

Break-even live

Break-even rent $2,624

Max offer price $299,999

Occupancy floor 67%

Sensitivity live

Price	-10% $1,342	-5% $1,239	+0% $1,135	+5% $1,031	+10% $928
Rent	-10% $814	-5% $975	+0% $1,135	+5% $1,295	+10% $1,456
Rate	-1.0pp $1,286	-0.5pp $1,211	base $1,135	+0.5pp $1,057	+1.0pp $978

3-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 3× units	2	1	$4,062
Total (3 units)			$4,061

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: $75,000
• Closing costs: $9,000
• Reserves months: —
• Total cash needed: —

Listing history 6 events

1. 2026-03-03
   listed $299,999 Active 656-char remark

   Show marketing remark (656 chars)

   Great investment opportunity at 909 & 913 W. Chestnut! This income-generating triplex features three independent units, each with private access. Both lower-level units are currently leased, providing immediate rental income, while the top unit has been recently renovated and is move-in ready for a new tenant. Each unit has a separate electric meter, and all share a single water meter. Situated within walking distance of historic downtown Denison, the property offers easy access to dining, shopping, and entertainment. With two units already occupied and a freshly updated third unit, this property is ideal for investors seeking steady cash flow.

2. 2014-02-19
   historical
3. 2014-01-24
   status Active
4. 2014-01-22
   historical
5. 2013-11-01
   price $69,000
6. 2013-09-23
   listed $79,000 Active

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

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 ≥109°F today · 22 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 18% 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: $48,732
• − Mortgage interest: −$16,805
• − Property taxes: −$4,500
• − Insurance: −$1,500
• − Repairs & maintenance: −$3,899
• − Management: −$3,899
• − Depreciation: −$8,727
• Taxable income: $9,403
• Est. tax owed @ 24.0%: −$2,257
• After-tax cash flow: $11,363/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

+279.7% since first listed

6 events — show timeline

• 2026-03-03 Listed $299,999 NTREIS
• 2014-02-19 Listing Removed — NTREIS
• 2014-01-24 Relisted — NTREIS
• 2014-01-22 Listing Removed — NTREIS
• 2013-11-01 Price Changed $69,000 NTREIS
• 2013-09-23 Listed $79,000 NTREIS