205 W Bond St · Denison, TX 75020

$174,000

4 bd · 1.0 ba · 1,847 sqft · SingleFamily public records · 276 Days on market

Built 1949 7,492 sqft lot $94/sqft · 27% below area Est $238k · 27% 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 +15.7/30.0
• ARV discount +15.0/15.0
• DSCR +4.8/10.0
• 1% rule +4.6/10.0
• 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

Downtown Denison opportunity with flexible use. Located in the heart of downtown Denison, this property offers more than just a place to live, it’s an opportunity. Zoned retail (commercial) per the city, this property allows for office, boutique, mixed-use, or even an art studio, gallery, craft shop, or artisan shop. The city has also indicated possible rezoning to multifamily, giving investors multiple exit strategies and long-term upside. Strong location with room to add value, whether you’re looking to occupy, lease, or reposition. Currently a 4 bed, 2 bath home with over 1,800 sqft and major updates already completed, including roof, HVAC, and interior improvements.

Key facts

• Complete remodel
• Brand new roof
• Remodeled kitchen

Tags

• BRAND NEW ROOF
• NEW AC SYSTEM
• COMPLETE REMODEL
• REMODELED KITCHEN
• REMODELED BATHROOMS
• PRIVATE ENTRANCE

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $174k.

Deal economics

• At list price, monthly cash flow is $77 ($925/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 $167k (4.0% below list).
• Recommended offer: $153k (12.0% below list) — sets the bar for market timing.
• Cap rate 6.8% 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; 22 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 73% 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 276 days — a 12% lower offer ($153k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 8y ago; this cycle's ask is 10775% above the opening price — seller raised mid-cycle; expect resistance to lowballs.

Risks & watch-outs

• Watch-outs: built in 1949 — expect roof / HVAC / electrical / plumbing capex.
• 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 $153,120 (12.0% below list)

Questions for the listing agent

1. It's been on market 276 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1949 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
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: 0.96% ✗
• Cap rate: 6.82%
• Cash-on-cash: 1.90%
• DSCR: 1.08
• GRM: 8.7

CMA / ARV

• ARV (median comp): $238,498
• List price: $174,000
• Delta: -27.04%
• 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
205 W Bond St	0.00mi	4/2.0	1,847 (0%)	1mo	$174,000	$94	96
113 W Morton St	0.11mi	3/2.0 (-1)	1,824 (-1%)	0mo	$224,000	$123	84
409 W Johnson St	0.24mi	3/3.0 (-1)	1,792 (-3%)	2mo	$265,000	$148	70
215 W Sears St	0.15mi	4/2.0	1,659 (-10%)	5mo	$134,900	$81	68
117 W Morton St	0.10mi	3/2.0 (-1)	1,598 (-14%)	6mo	$289,000	$181	59
610 W Chestnut St	0.60mi	3/2.0 (-1)	1,766 (-4%)	9mo	$250,000	$142	48
430 E Morton St	0.49mi	3/1.0 (-1)	1,660 (-10%)	13mo	$225,000	$136	45
800 W Bond St	0.52mi	3/3.0 (-1)	1,776 (-4%)	15mo	$215,000	$121	44
826 W Morton St	0.59mi	3/2.0 (-1)	1,625 (-12%)	1mo	$239,000	$147	43
600 E Woodard St	0.69mi	3/2.0 (-1)	1,749 (-5%)	9mo	$209,000	$119	42
800 W Gandy St	0.58mi	3/2.0 (-1)	1,704 (-8%)	13mo	$255,000	$150	40
1005 W Walker St	0.72mi	3/2.0 (-1)	1,744 (-6%)	11mo	$240,000	$138	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: -16.7%
• Equity multiple: 0.42×
• Total profit: $-28,054
• Equity at exit: $25,944

10-year hold

• IRR: -15.4%
• Equity multiple: 0.25×
• Total profit: $-36,539
• Equity at exit: $15,044

Cash invested: $48,720 (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: 485
• Price-to-rent: 8.7×

Monthly cashflow live

• Estimated rent: $1,671 high
• Mortgage (P&I): −$912
• Tax from tax record: −$258 /mo · $3,094/yr
• Insurance: −$72
• HOA: −$0
• Vacancy / Maint / Mgmt: −$351
• Net cashflow: $77

Break-even live

Break-even rent $1,573

Max offer price $174,000

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: $43,500
• Closing costs: $5,220
• Reserves months: —
• Total cash needed: —

Rent comps 22 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
224 W Bond St Denison, TX	3.0	2.5	1294	$1,375	$1.06	43d	1	0.06mi
226 W Bond St Unit 224 Denison, TX	3.0	2.5	1294	$1,375	$1.06	43d	1	0.06mi
320 W Bond St Denison, TX	3.0	2.0	1278	$1,500	$1.17	44d	1	0.13mi
212 E Walker St Denison, TX	3.0	2.0	1260	$1,695	$1.35	43d	1	0.25mi
401 W Elm St Denison, TX	3.0	2.5	1506	$1,850	$1.23	43d	1	0.27mi
527 W Walker St Denison, TX	3.0	2.0	1300	$1,675	$1.29	43d	1	0.33mi
613 W Elm St Unit 613 Denison, TX	3.0	2.0	1375	$1,525	$1.11	44d	1	0.43mi
731 W Bond St Denison, TX	3.0	2.0	1297	$1,595	$1.23	20d	1	0.50mi
731 W Morton St Denison, TX	3.0	2.0	1298	$1,500	$1.16	43d	1	0.51mi
727 W Johnson St Unit A Denison, TX	3.0	2.5	1238	$1,450	$1.17	43d	1	0.52mi
521 E Sears St Denison, TX	4.0	2.0	1401	$1,650	$1.18	43d	1	0.57mi
430 E Woodard St Denison, TX	3.0	2.0	1263	$1,590	$1.26	43d	1	0.58mi
411 S Fannin Ave #411 Denison, TX	3.0	2.5	1322	$1,450	$1.10	20d	1	0.67mi
713 E Sears St Denison, TX	3.0	2.0	1230	$1,475	$1.20	20d	1	0.75mi
1004 W Gandy St Denison, TX	3.0	1.0	1250	$1,299	$1.04	20d	1	0.76mi
900 W Chestnut St Denison, TX	3.0	2.0	1742	$1,695	$0.97	43d	1	0.77mi
313 E Nelson St Denison, TX	3.0	2.0	1279	$1,625	$1.27	20d	1	0.78mi
327-329 E Nelson St #329 Denison, TX	3.0	2.0	1382	$1,625	$1.18	43d	1	0.79mi
809 S Travis Ave Denison, TX	3.0	2.0	1490	$1,595	$1.07	43d	1	0.97mi
1022 W Shepherd St #1022 Denison, TX	3.0	2.5	1322	$1,450	$1.10	20d	1	1.11mi
1011 S Armstrong Ave Unit B Denison, TX	3.0	2.0	2068	$1,800	$0.87	43d	1	1.19mi
517 E Heron St Denison, TX	3.0	2.0	1232	$1,550	$1.26	43d	1	1.32mi

Listing history 26 events

1. 2026-04-06
   price $174,000 691-char remark

   Show marketing remark (691 chars)

   Downtown Denison opportunity with flexible use. Located in the heart of downtown Denison, this property offers more than just a place to live, it’s an opportunity. Zoned retail (commercial) per the city, this property allows for office, boutique, mixed-use, or even an art studio, gallery, craft shop, or artisan shop. The city has also indicated possible rezoning to multifamily, giving investors multiple exit strategies and long-term upside. Strong location with room to add value, whether you’re looking to occupy, lease, or reposition. Currently a 4 bed, 2 bath home with over 1,800 sqft and major updates already completed, including roof, HVAC, and interior improvements.

2. 2026-03-09
   price $175,000 691-char remark

   Show marketing remark (691 chars)

   Downtown Denison opportunity with flexible use. Located in the heart of downtown Denison, this property offers more than just a place to live, it’s an opportunity. Zoned retail (commercial) per the city, this property allows for office, boutique, mixed-use, or even an art studio, gallery, craft shop, or artisan shop. The city has also indicated possible rezoning to multifamily, giving investors multiple exit strategies and long-term upside. Strong location with room to add value, whether you’re looking to occupy, lease, or reposition. Currently a 4 bed, 2 bath home with over 1,800 sqft and major updates already completed, including roof, HVAC, and interior improvements.

3. 2026-03-01
   historical $1,500
4. 2026-01-05
   price $1,500

   Show marketing remark (691 chars)

   Downtown Denison opportunity with flexible use. Located in the heart of downtown Denison, this property offers more than just a place to live, it’s an opportunity. Zoned retail (commercial) per the city, this property allows for office, boutique, mixed-use, or even an art studio, gallery, craft shop, or artisan shop. The city has also indicated possible rezoning to multifamily, giving investors multiple exit strategies and long-term upside. Strong location with room to add value, whether you’re looking to occupy, lease, or reposition. Currently a 4 bed, 2 bath home with over 1,800 sqft and major updates already completed, including roof, HVAC, and interior improvements.

5. 2026-01-05
   price $179,888 691-char remark

   Show marketing remark (691 chars)

   Downtown Denison opportunity with flexible use. Located in the heart of downtown Denison, this property offers more than just a place to live, it’s an opportunity. Zoned retail (commercial) per the city, this property allows for office, boutique, mixed-use, or even an art studio, gallery, craft shop, or artisan shop. The city has also indicated possible rezoning to multifamily, giving investors multiple exit strategies and long-term upside. Strong location with room to add value, whether you’re looking to occupy, lease, or reposition. Currently a 4 bed, 2 bath home with over 1,800 sqft and major updates already completed, including roof, HVAC, and interior improvements.

6. 2025-10-12
   price $179,999 691-char remark

   Show marketing remark (691 chars)

   Downtown Denison opportunity with flexible use. Located in the heart of downtown Denison, this property offers more than just a place to live, it’s an opportunity. Zoned retail (commercial) per the city, this property allows for office, boutique, mixed-use, or even an art studio, gallery, craft shop, or artisan shop. The city has also indicated possible rezoning to multifamily, giving investors multiple exit strategies and long-term upside. Strong location with room to add value, whether you’re looking to occupy, lease, or reposition. Currently a 4 bed, 2 bath home with over 1,800 sqft and major updates already completed, including roof, HVAC, and interior improvements.

7. 2025-08-29
   listed $1,600
8. 2025-08-23
   listed $185,000 Active 691-char remark

   Show marketing remark (691 chars)

   Downtown Denison opportunity with flexible use. Located in the heart of downtown Denison, this property offers more than just a place to live, it’s an opportunity. Zoned retail (commercial) per the city, this property allows for office, boutique, mixed-use, or even an art studio, gallery, craft shop, or artisan shop. The city has also indicated possible rezoning to multifamily, giving investors multiple exit strategies and long-term upside. Strong location with room to add value, whether you’re looking to occupy, lease, or reposition. Currently a 4 bed, 2 bath home with over 1,800 sqft and major updates already completed, including roof, HVAC, and interior improvements.

9. 2025-08-11
   historical
10. 2025-07-26
    listed $1,700
11. 2025-07-11
    price $189,000
12. 2025-06-05
    listed $199,900 Active
13. 2022-03-02
    status Pending
14. 2021-10-06
    status Pending
15. 2021-10-05
    status Active
16. 2021-10-05
    historical
17. 2021-10-02
    historical
18. 2021-07-09
    status Active
19. 2021-07-01
    historical
20. 2021-05-04
    price $100,000
21. 2021-01-23
    listed $110,000 Active
22. 2019-01-18
    historical
23. 2018-09-22
    price $85,000
24. 2018-08-06
    listed $90,000 Active
25. 2007-05-01
    soldstatus
26. 2000-08-14
    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: $3,094 · $258/mo
• Projected year-2 tax: $3,184 · $265/mo
• Expected delta: +$90/yr (+$8/mo · 2.9%)

ⓘ 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 · 21 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: $20,048
• − Mortgage interest: −$9,747
• − Property taxes: −$3,094
• − Insurance: −$870
• − Repairs & maintenance: −$1,604
• − Management: −$1,604
• − Depreciation: −$5,062
• Taxable loss: −$1,932
• Est. tax savings @ 24.0%: +$464
• After-tax cash flow: $1,388/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

+93.3% since first listed

26 events — show timeline

• 2026-04-06 Price Changed $174,000 NTREIS
• 2026-03-09 Price Changed $175,000 NTREIS
• 2026-03-01 Rental Removed $1,500 NTREIS
• 2026-01-05 Price Changed $1,500 NTREIS
• 2026-01-05 Price Changed $179,888 NTREIS
• 2025-10-12 Price Changed $179,999 NTREIS
• 2025-08-29 Listed for Rent $1,600 NTREIS
• 2025-08-23 Listed $185,000 NTREIS
• 2025-08-11 Listing Removed — NTREIS
• 2025-07-26 Listed for Rent $1,700 NTREIS
• 2025-07-11 Price Changed $189,000 NTREIS
• 2025-06-05 Listed $199,900 NTREIS
• 2022-03-02 Pending — NTREIS
• 2021-10-06 Pending — NTREIS
• 2021-10-05 Relisted — NTREIS
• 2021-10-05 Listing Removed — NTREIS
• 2021-10-02 Listing Removed — NTREIS
• 2021-07-09 Relisted — NTREIS
• 2021-07-01 Listing Removed — NTREIS
• 2021-05-04 Price Changed $100,000 NTREIS
• 2021-01-23 Listed $110,000 NTREIS
• 2019-01-18 Listing Removed — NTREIS
• 2018-09-22 Price Changed $85,000 NTREIS
• 2018-08-06 Listed $90,000 NTREIS
• 2007-05-01 Sold (Public Records) — Public Records
• 2000-08-14 Sold (Public Records) — Public Records

Property tax history

+5.0%/yr

Latest (2025): $3,094 · +0.0% YoY. Source: county tax records.