905 Thatcher St · Denison, TX 75020

$149,000

3 bd · 2.0 ba · 936 sqft · SingleFamily public records · 54 Days on market

Built 1986 0.27 ac lot $159/sqft · at area comps Est $149k · at est.

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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 +12.2/30.0
• ARV discount +7.6/15.0
• 1% rule +4.2/10.0
• Schools +3.7/10.0
• Livability +3.7/5.0
• DSCR +3.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This 3-bedroom, 2-bath home at 905 Thatcher Street offers an excellent opportunity for buyers seeking affordability and space at an attractive price point. With 936 square feet of single-story living, the home features a functional layout with a dedicated living area and separate dining space, providing comfortable day-to-day living. Situated on an oversized 0.273-acre lot, the property stands out with its expansive yard, offering outdoor flexibility and potential that is hard to find in this price range. The home also includes a private driveway, city utilities, and no HOA, adding to its overall appeal and accessibility. Built in 1986 and priced competitively, this property presents strong value for first-time buyers, downsizers, or investors looking to secure a property with both land and potential. Schedule your viewing today.

Key facts

• City utilities
• Private driveway
• Expansive yard

Tags

• OVERSIZED LOT
• EXPANSIVE YARD
• PRIVATE DRIVEWAY
• CITY UTILITIES

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $149k.

Deal economics

• At list price, monthly cash flow is $-31 ($-367/yr) — negative.
• To cash-flow at today's rent, offer at most $144k (3.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $137k (7.9% below list).
• Recommended offer: $137k (7.9% below list) — sets the bar for 1% rule.
• Cap rate 6.0% 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: Hyde Park El (math 52% / reading 47%, grade D, #865 of 4,322 statewide, top 21%, 465 students, 54% 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) — zoned schools at 59% FRL track the district average.
• Market conditions: Rents flat; 492 active listings in the ZIP; 16 comparable units currently listed for rent nearby; rentals lingering (median 46d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 56% 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 $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 54 days — a 3% lower offer ($145k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 10y ago; this cycle's ask has dropped $10k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Climate carrying-cost: extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $137,159 (7.9% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 54 days. Have you received any prior offers? Is the seller open to a 8% concession, seller financing, or rate buy-down credit?
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: 0.92% ✗
• Cap rate: 6.05%
• Cash-on-cash: -0.88%
• DSCR: 0.96
• GRM: 9.1

CMA / ARV

• ARV (median comp): $149,297
• List price: $149,000
• Delta: -0.20%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 10 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
905 Thatcher St	0.00mi	3/2.0	936 (0%)	1mo	$149,000	$159	99
515 Forrest Ln	0.43mi	3/1.5	980 (+5%)	4mo	$145,000	$148	66
1027 Star St	0.21mi	2/1.0 (-1)	924 (-1%)	21mo	$138,000	$149	62
514 W Baker St	0.41mi	2/2.0 (-1)	896 (-4%)	11mo	$175,000	$195	60
933 W Ford St	0.52mi	2/1.0 (-1)	910 (-3%)	8mo	$160,000	$176	56
1050 Star St	0.24mi	2/1.0 (-1)	840 (-10%)	10mo	$129,000	$154	54
513 W Coffin St	0.54mi	3/1.0	1,049 (+12%)	2mo	$62,500	$60	49
907 W Ford St	0.51mi	3/1.0	846 (-10%)	13mo	$149,900	$177	45
1054 Star St	0.25mi	2/1.0 (-1)	840 (-10%)	23mo	$155,000	$185	43
911 Rice St	0.32mi	2/1.0 (-1)	1,064 (+14%)	16mo	$118,950	$112	40

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: -21.3%
• Equity multiple: 0.28×
• Total profit: $-29,975
• Equity at exit: $22,216

10-year hold

• IRR: -24.9%
• Equity multiple: -0.05×
• Total profit: $-43,613
• Equity at exit: $12,883

Cash invested: $41,720 (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: 9.1×

Monthly cashflow live

• Estimated rent: $1,372 high
• Mortgage (P&I): −$781
• Tax from tax record: −$271 /mo · $3,248/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$288
• Net cashflow: $-31

Break-even live

Break-even rent $1,410

Max offer price $143,596

Occupancy floor 97%

Sensitivity live

Price	-10% $54	-5% $12	+0% $-31	+5% $-73	+10% $-115
Rent	-10% $-139	-5% $-85	+0% $-31	+5% $24	+10% $78
Rate	-1.0pp $44	-0.5pp $7	base $-31	+0.5pp $-69	+1.0pp $-108

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: $37,250
• Closing costs: $4,470
• Reserves months: —
• Total cash needed: —

Rent comps 16 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1021 Rice St Unit 102 Denison, TX	2.0	2.0	1013	$1,125	$1.11	46d	1	0.38mi
531 W Collins St Unit NA Denison, TX	4.0	2.0	1080	$1,560	$1.44	23d	1	0.44mi
2400 S Barrett Ave Denison, TX	3.0	2.0	1090	$1,349	$1.24	46d	1	0.44mi
615 W Coffin St Denison, TX	2.0	1.0	800	$1,250	$1.56	23d	1	0.48mi
740 W Bullock St Denison, TX	2.0	1.0	1000	$1,250	$1.25	23d	1	0.84mi
1527 S Austin Ave Denison, TX	1.0–2.0	1.0–1.5	850	$999	$1.18	23d	2	1.13mi
108 W Acheson St Denison, TX	3.0	2.0	1056	$1,550	$1.47	46d	1	1.22mi
818 W Texas St Denison, TX	3.0	1.0	720	$1,100	$1.53	23d	1	1.27mi
1011 S Perry Ave Denison, TX	2.0	2.0	1079	$1,350	$1.25	46d	1	1.32mi
214 E Acheson St Denison, TX	2.0	1.0	963	$1,499	$1.56	46d	1	1.33mi
912 S Armstrong st. / 731 W. Hull AVE Denison, TX	2.0	1.0	580	$849	$1.46	23d	1	1.37mi
701 W Hull St Denison, TX	2.0	1.0	637	$1,100	$1.73	46d	1	1.39mi
526 W Munson St Denison, TX	2.0	1.0	778	$849	$1.09	23d	2	1.45mi
526 W Munson St Unit 2 Denison, TX	2.0	1.0	778	$999	$1.28	46d	1	1.45mi
120 E Monterey St Unit 120 Denison, TX	2.0	1.0	800	$900	$1.12	46d	1	1.45mi
224 W Hull St Unit A Denison, TX	2.0	1.0	743	$1,250	$1.68	46d	1	1.47mi

Listing history 19 events

1. 2026-05-14
   status Pending 850-char remark

   Show marketing remark (850 chars)

   This 3-bedroom, 2-bath home at 905 Thatcher Street offers an excellent opportunity for buyers seeking affordability and space at an attractive price point. With 936 square feet of single-story living, the home features a functional layout with a dedicated living area and separate dining space, providing comfortable day-to-day living. Situated on an oversized 0.273-acre lot, the property stands out with its expansive yard, offering outdoor flexibility and potential that is hard to find in this price range. The home also includes a private driveway, city utilities, and no HOA, adding to its overall appeal and accessibility. Built in 1986 and priced competitively, this property presents strong value for first-time buyers, downsizers, or investors looking to secure a property with both land and potential. Schedule your viewing today.

2. 2026-05-10
   historical Active Option Contract 850-char remark

   Show marketing remark (850 chars)

   This 3-bedroom, 2-bath home at 905 Thatcher Street offers an excellent opportunity for buyers seeking affordability and space at an attractive price point. With 936 square feet of single-story living, the home features a functional layout with a dedicated living area and separate dining space, providing comfortable day-to-day living. Situated on an oversized 0.273-acre lot, the property stands out with its expansive yard, offering outdoor flexibility and potential that is hard to find in this price range. The home also includes a private driveway, city utilities, and no HOA, adding to its overall appeal and accessibility. Built in 1986 and priced competitively, this property presents strong value for first-time buyers, downsizers, or investors looking to secure a property with both land and potential. Schedule your viewing today.

3. 2026-04-21
   status Active 850-char remark

   Show marketing remark (850 chars)

   This 3-bedroom, 2-bath home at 905 Thatcher Street offers an excellent opportunity for buyers seeking affordability and space at an attractive price point. With 936 square feet of single-story living, the home features a functional layout with a dedicated living area and separate dining space, providing comfortable day-to-day living. Situated on an oversized 0.273-acre lot, the property stands out with its expansive yard, offering outdoor flexibility and potential that is hard to find in this price range. The home also includes a private driveway, city utilities, and no HOA, adding to its overall appeal and accessibility. Built in 1986 and priced competitively, this property presents strong value for first-time buyers, downsizers, or investors looking to secure a property with both land and potential. Schedule your viewing today.

4. 2026-04-20
   historical Active Option Contract 850-char remark

   Show marketing remark (850 chars)

   This 3-bedroom, 2-bath home at 905 Thatcher Street offers an excellent opportunity for buyers seeking affordability and space at an attractive price point. With 936 square feet of single-story living, the home features a functional layout with a dedicated living area and separate dining space, providing comfortable day-to-day living. Situated on an oversized 0.273-acre lot, the property stands out with its expansive yard, offering outdoor flexibility and potential that is hard to find in this price range. The home also includes a private driveway, city utilities, and no HOA, adding to its overall appeal and accessibility. Built in 1986 and priced competitively, this property presents strong value for first-time buyers, downsizers, or investors looking to secure a property with both land and potential. Schedule your viewing today.

5. 2026-04-07
   price $149,000 850-char remark

   Show marketing remark (850 chars)

   This 3-bedroom, 2-bath home at 905 Thatcher Street offers an excellent opportunity for buyers seeking affordability and space at an attractive price point. With 936 square feet of single-story living, the home features a functional layout with a dedicated living area and separate dining space, providing comfortable day-to-day living. Situated on an oversized 0.273-acre lot, the property stands out with its expansive yard, offering outdoor flexibility and potential that is hard to find in this price range. The home also includes a private driveway, city utilities, and no HOA, adding to its overall appeal and accessibility. Built in 1986 and priced competitively, this property presents strong value for first-time buyers, downsizers, or investors looking to secure a property with both land and potential. Schedule your viewing today.

6. 2026-03-17
   listed $159,000 Active 850-char remark

   Show marketing remark (850 chars)

   This 3-bedroom, 2-bath home at 905 Thatcher Street offers an excellent opportunity for buyers seeking affordability and space at an attractive price point. With 936 square feet of single-story living, the home features a functional layout with a dedicated living area and separate dining space, providing comfortable day-to-day living. Situated on an oversized 0.273-acre lot, the property stands out with its expansive yard, offering outdoor flexibility and potential that is hard to find in this price range. The home also includes a private driveway, city utilities, and no HOA, adding to its overall appeal and accessibility. Built in 1986 and priced competitively, this property presents strong value for first-time buyers, downsizers, or investors looking to secure a property with both land and potential. Schedule your viewing today.

7. 2023-12-15
   historical $1,250
8. 2023-12-06
   listed $1,250
9. 2017-03-10
   soldstatus
10. 2017-03-09
    soldstatus Sold 239-char remark

    Show marketing remark (239 chars)

    Investor Special. 3 bedroom 1 bath with large deck. Large fenced yard. 2 storage buildings. Potential here for retirement or rental property. Easy access to highway, shopping and hosptials. Buyer to verify school district and measurements.

11. 2017-03-06
    status Pending 239-char remark

    Show marketing remark (239 chars)

    Investor Special. 3 bedroom 1 bath with large deck. Large fenced yard. 2 storage buildings. Potential here for retirement or rental property. Easy access to highway, shopping and hosptials. Buyer to verify school district and measurements.

12. 2016-11-06
    status Active 239-char remark

    Show marketing remark (239 chars)

    Investor Special. 3 bedroom 1 bath with large deck. Large fenced yard. 2 storage buildings. Potential here for retirement or rental property. Easy access to highway, shopping and hosptials. Buyer to verify school district and measurements.

13. 2016-10-27
    historical Active Option Contract 239-char remark

    Show marketing remark (239 chars)

    Investor Special. 3 bedroom 1 bath with large deck. Large fenced yard. 2 storage buildings. Potential here for retirement or rental property. Easy access to highway, shopping and hosptials. Buyer to verify school district and measurements.

14. 2016-10-01
    listed $45,000 Active 239-char remark

    Show marketing remark (239 chars)

    Investor Special. 3 bedroom 1 bath with large deck. Large fenced yard. 2 storage buildings. Potential here for retirement or rental property. Easy access to highway, shopping and hosptials. Buyer to verify school district and measurements.

15. 2016-09-21
    historical
16. 2016-08-17
    price $45,000
17. 2016-04-24
    price $50,000
18. 2016-01-23
    listed $55,000 Active
19. 1995-07-28
    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: $3,248 · $271/mo
• Projected year-2 tax: $3,248 · $271/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 3/10 Moderate
• 🌡 Heat 6/10 Major 7 d/yr ≥108°F today · 21 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 22% 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: $16,459
• − Mortgage interest: −$8,346
• − Property taxes: −$3,248
• − Insurance: −$745
• − Repairs & maintenance: −$1,317
• − Management: −$1,317
• − Depreciation: −$4,335
• Taxable loss: −$2,849
• Est. tax savings @ 24.0%: +$684
• After-tax cash flow: $317/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

+170.9% since first listed

19 events — show timeline

• 2026-05-14 Pending — NTREIS
• 2026-05-10 Contingent — NTREIS
• 2026-04-21 Relisted — NTREIS
• 2026-04-20 Contingent — NTREIS
• 2026-04-07 Price Changed $149,000 NTREIS
• 2026-03-17 Listed $159,000 NTREIS
• 2023-12-15 Rental Removed $1,250 NTREIS
• 2023-12-06 Listed for Rent $1,250 NTREIS
• 2017-03-10 Sold (Public Records) — Public Records
• 2017-03-09 Sold (MLS) — NTREIS
• 2017-03-06 Pending — NTREIS
• 2016-11-06 Relisted — NTREIS
• 2016-10-27 Contingent — NTREIS
• 2016-10-01 Listed $45,000 NTREIS
• 2016-09-21 Listing Removed — NTREIS
• 2016-08-17 Price Changed $45,000 NTREIS
• 2016-04-24 Price Changed $50,000 NTREIS
• 2016-01-23 Listed $55,000 NTREIS
• 1995-07-28 Sold (Public Records) — Public Records

Property tax history

+6.8%/yr

Latest (2025): $3,248 · +2.8% YoY. Source: county tax records.