624 W Gandy St · Denison, TX 75020

$140,000

2 bd · 2.0 ba · 1,614 sqft · SingleFamily public records · 101 Days on market

Built 1910 7,492 sqft lot $87/sqft · 41% below area Est $236k · 41% under

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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 +16.1/30.0
• ARV discount +15.0/15.0
• 1% rule +5.5/10.0
• DSCR +5.0/10.0
• 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

Prime Investment Opportunity Near Downtown Denison Rare opportunity to own a historic two-story home just steps from Downtown Denison, one of the area’s fastest-growing and revitalized districts. This property is full of original character including tall ceilings, large rooms, original wood flooring, decorative fireplace, built-ins, and a classic staircase that highlights the home’s historic charm. The spacious layout and large windows allow for great natural light and offer endless possibilities for restoration or transformation. Situated in an established neighborhood just minutes from local restaurants, shopping, entertainment, and downtown events, the location makes this property especially desirable. Properties this close to Downtown Denison with this much character and potential rarely become available. Buyers and buyers agent verify all information

Key facts

• Large windows
• Decorative fireplace
• Classic staircase

Tags

• HISTORIC TWO-STORY HOME
• ORIGINAL WOOD FLOORING
• DECORATIVE FIREPLACE
• CLASSIC STAIRCASE
• SPACIOUS LAYOUT
• LARGE WINDOWS

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $140k.

Deal economics

• At list price, monthly cash flow is $72 ($862/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $140k).
• Recommended offer: $127k (9.0% below list) — sets the bar for market timing.
• Cap rate 6.9% 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; 40 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 68% 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 $968 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 101 days — a 9% lower offer ($127k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 4y 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 2.5% of price; built in 1910 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $127,400 (9.0% below list)

Questions for the listing agent

1. It's been on market 101 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1910 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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.
8. 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.
9. 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: 1.05% ✓
• Cap rate: 6.91%
• Cash-on-cash: 2.20%
• DSCR: 1.10
• GRM: 7.9

CMA / ARV

• ARV (median comp): $236,249
• List price: $140,000
• Delta: -40.74%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
826 W Morton St	0.23mi	3/2.0 (+1)	1,625 (+1%)	1mo	$239,000	$147	82
615 W Gandy St	0.05mi	2/1.0	1,493 (-8%)	1mo	$145,000	$97	80
1001 W Morton St	0.36mi	2/2.0	1,749 (+8%)	1mo	$349,000	$200	69
117 W Morton St	0.50mi	3/2.0 (+1)	1,598 (-1%)	6mo	$289,000	$181	65
114 W Morton St	0.50mi	3/2.0 (+1)	1,544 (-4%)	1mo	$259,900	$168	64
610 W Chestnut St	0.21mi	3/2.0 (+1)	1,766 (+9%)	9mo	$250,000	$142	62
1208 W Sears St	0.51mi	3/1.5 (+1)	1,584 (-2%)	7mo	$160,000	$101	61
614 W Owings St	0.33mi	2/1.0	1,422 (-12%)	2mo	$90,000	$63	59
727 W Parnell St	0.63mi	3/2.0 (+1)	1,525 (-6%)	4mo	$215,000	$141	53
409 W Johnson St	0.46mi	3/3.0 (+1)	1,792 (+11%)	2mo	$265,000	$148	50
113 W Morton St	0.51mi	3/2.0 (+1)	1,824 (+13%)	0mo	$224,000	$123	49
326 W Day St	0.68mi	3/2.0 (+1)	1,406 (-13%)	0mo	$265,000	$188	42

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: -16.5%
• Equity multiple: 0.43×
• Total profit: $-22,247
• Equity at exit: $20,874

10-year hold

• IRR: -15.7%
• Equity multiple: 0.25×
• Total profit: $-29,471
• Equity at exit: $12,105

Cash invested: $39,200 (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: 7.9×

Monthly cashflow live

• Estimated rent: $1,469 high
• Mortgage (P&I): −$734
• Tax from tax record: −$296 /mo · $3,554/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$309
• Net cashflow: $72

Break-even live

Break-even rent $1,378

Max offer price $140,000

Occupancy floor 90%

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: $35,000
• Closing costs: $4,200
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
715 W Chestnut St Denison, TX	2.0	2.0	1273	$1,300	$1.02	44d	1	0.16mi
626 W Chestnut St Denison, TX	2.0	1.0	1132	$1,300	$1.15	21d	1	0.18mi
731 W Morton St Denison, TX	3.0	2.0	1298	$1,500	$1.16	44d	1	0.24mi
900 W Chestnut St Denison, TX	3.0	2.0	1742	$1,695	$0.97	44d	1	0.28mi
731 W Bond St Denison, TX	3.0	2.0	1297	$1,595	$1.23	21d	1	0.30mi
610 W Owing St Denison, TX	3.0	2.0	1108	$1,395	$1.26	44d	1	0.31mi
1004 W Gandy St Denison, TX	3.0	1.0	1250	$1,299	$1.04	21d	1	0.32mi
410 S Mirick Ave Denison, TX	3.0	2.0	1100	$1,300	$1.18	44d	1	0.35mi
411 S Fannin Ave #411 Denison, TX	3.0	2.5	1322	$1,450	$1.10	21d	1	0.36mi
320 W Bond St Denison, TX	3.0	2.0	1278	$1,500	$1.17	44d	1	0.36mi
527 W Walker St Denison, TX	3.0	2.0	1300	$1,675	$1.29	44d	1	0.37mi
514 N Rusk Ave Unit 516 Denison, TX	3.0	2.0	1173	$1,375	$1.17	21d	1	0.39mi
514 N Rusk Ave Denison, TX	3.0	2.0	1173	$1,450	$1.24	44d	1	0.42mi
226 W Bond St Unit 224 Denison, TX	3.0	2.5	1294	$1,375	$1.06	44d	1	0.42mi
224 W Bond St Denison, TX	3.0	2.5	1294	$1,375	$1.06	44d	1	0.43mi
727 W Johnson St Unit A Denison, TX	3.0	2.5	1238	$1,450	$1.17	44d	1	0.44mi
613 W Elm St Unit 613 Denison, TX	3.0	2.0	1375	$1,525	$1.11	44d	1	0.51mi
1131 W Owing St Denison, TX	3.0	2.0	1135	$1,695	$1.49	44d	1	0.54mi
1120 W Owing St Denison, TX	3.0	2.0	1090	$1,225	$1.12	21d	1	0.54mi
401 W Elm St Denison, TX	3.0	2.5	1506	$1,850	$1.23	44d	1	0.55mi
1231 W Main St Denison, TX	2.0	1.5	1203	$1,575	$1.31	21d	1	0.56mi
921 W Day St Denison, TX	3.0	2.0	1212	$1,500	$1.24	44d	1	0.63mi
1022 W Shepherd St #1022 Denison, TX	3.0	2.5	1322	$1,450	$1.10	21d	1	0.63mi
404 W Day St Denison, TX	3.0	2.0	1057	$1,500	$1.42	21d	1	0.63mi
1326 W Sears St Denison, TX	2.0	1.0	1318	$1,350	$1.02	21d	1	0.64mi
131 E Bond St Denison, TX	3.0	2.5	1192	$1,250	$1.05	44d	1	0.65mi
212 E Walker St Denison, TX	3.0	2.0	1260	$1,695	$1.35	44d	1	0.71mi
1011 S Armstrong Ave Unit B Denison, TX	3.0	2.0	2068	$1,800	$0.87	44d	1	0.79mi
1011 S Armstrong Ave Unit A Denison, TX	2.0	1.0	1400	$1,500	$1.07	44d	1	0.79mi
1311 W Day St Denison, TX	2.0	1.0	1188	$1,050	$0.88	21d	1	0.83mi
313 E Nelson St Denison, TX	3.0	2.0	1279	$1,625	$1.27	21d	1	0.83mi
327-329 E Nelson St #329 Denison, TX	3.0	2.0	1382	$1,625	$1.18	44d	1	0.87mi
430 E Woodard St Denison, TX	3.0	2.0	1263	$1,590	$1.26	44d	1	0.87mi
500 E Main St Denison, TX	3.0	2.0	1216	$1,425	$1.17	44d	1	0.89mi
1011 S Perry Ave Denison, TX	2.0	2.0	1079	$1,350	$1.25	44d	1	0.92mi
114 E Hull St Denison, TX	2.0	2.0	1279	$1,450	$1.13	44d	1	0.92mi
519 E Gandy St Denison, TX	3.0	2.0	1132	$1,299	$1.15	44d	1	0.95mi
809 S Travis Ave Denison, TX	3.0	2.0	1490	$1,595	$1.07	44d	1	0.97mi
1602 W Elm St Denison, TX	3.0	2.0	1141	$1,495	$1.31	44d	1	0.97mi
537 E Sears St Denison, TX	3.0	2.0	1146	$1,599	$1.40	21d	1	0.99mi

Listing history 23 events

1. 2026-06-19
   days on market $140,000 Active 101 DOM
2. 2026-06-18
   days on market $140,000 Active 100 DOM
3. 2026-06-17
   days on market $140,000 Active 99 DOM
4. 2026-06-16
   days on market $140,000 Active 98 DOM
5. 2026-06-15
   days on market $140,000 Active 97 DOM
6. 2026-06-14
   days on market $140,000 Active 95 DOM
7. 2026-06-13
   days on market $140,000 Active 94 DOM
8. 2026-06-10
   days on market $140,000 Active 92 DOM
9. 2026-06-09
   days on market $140,000 Active 91 DOM
10. 2026-06-08
    days on market $140,000 Active 90 DOM
11. 2026-06-07
    days on market $140,000 Active 89 DOM
12. 2026-06-05
    days on market $140,000 Active 86 DOM
13. 2026-06-03
    days on market $140,000 Active 85 DOM
14. 2026-06-02
    days on market $140,000 Active 84 DOM
15. 2026-06-01
    days on market $140,000 Active 83 DOM
16. 2026-05-31
    days on market $140,000 Active 82 DOM
17. 2026-05-30
    days on market $140,000 Active 81 DOM
18. 2026-03-10
    listed $140,000 Active 885-char remark

    Show marketing remark (885 chars)

    Prime Investment Opportunity Near Downtown Denison Rare opportunity to own a historic two-story home just steps from Downtown Denison, one of the area’s fastest-growing and revitalized districts. This property is full of original character including tall ceilings, large rooms, original wood flooring, decorative fireplace, built-ins, and a classic staircase that highlights the home’s historic charm. The spacious layout and large windows allow for great natural light and offer endless possibilities for restoration or transformation. Situated in an established neighborhood just minutes from local restaurants, shopping, entertainment, and downtown events, the location makes this property especially desirable. Properties this close to Downtown Denison with this much character and potential rarely become available. Buyers and buyers agent verify all information

19. 2022-11-22
    soldstatus
20. 2022-11-21
    soldstatus Closed 186-char remark

    Show marketing remark (186 chars)

    Sold AS Is 2 Bedroom 2 Bath Home, Alley access to 2 Car Carport. Large Storage building and a little storage building. Updated kitchen with some furniture seller will leave. A must see.

21. 2022-11-19
    status Pending 186-char remark

    Show marketing remark (186 chars)

    Sold AS Is 2 Bedroom 2 Bath Home, Alley access to 2 Car Carport. Large Storage building and a little storage building. Updated kitchen with some furniture seller will leave. A must see.

22. 2022-11-10
    listed $139,500 Active 186-char remark

    Show marketing remark (186 chars)

    Sold AS Is 2 Bedroom 2 Bath Home, Alley access to 2 Car Carport. Large Storage building and a little storage building. Updated kitchen with some furniture seller will leave. A must see.

23. 1998-05-27
    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: $3,554 · $296/mo
• Projected year-2 tax: $3,554 · $296/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 4/10 Moderate
• 🌡 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: $17,629
• − Mortgage interest: −$7,842
• − Property taxes: −$3,554
• − Insurance: −$700
• − Repairs & maintenance: −$1,410
• − Management: −$1,410
• − Depreciation: −$4,073
• Taxable loss: −$1,361
• Est. tax savings @ 24.0%: +$327
• After-tax cash flow: $1,189/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

+0.4% since first listed

6 events — show timeline

• 2026-03-10 Listed $140,000 NTREIS
• 2022-11-22 Sold (Public Records) — Public Records
• 2022-11-21 Sold (MLS) — NTREIS
• 2022-11-19 Pending — NTREIS
• 2022-11-10 Listed $139,500 NTREIS
• 1998-05-27 Sold (Public Records) — Public Records

Property tax history

+4.9%/yr

Latest (2025): $3,554 · -3.3% YoY. Source: county tax records.