1222 W Morton St · Denison, TX 75020

$114,900

3 bd · 1.0 ba · 1,438 sqft · SingleFamily public records · 167 Days on market

Built 1929 7,492 sqft lot $80/sqft · 36% below area Est $180k · 36% under ↓ 51% since listing

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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 +26.5/30.0
• ARV discount +15.0/15.0
• DSCR +9.1/10.0
• 1% rule +8.2/10.0
• 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

PRICE IMPROVEMENT! MOTIVATED SELLER! Investment opportunity! Renovated home in the heart of Denison, TX! Minutes from shopping, restaurants, and community events. Open living area and an abundance of windows that provide great natural light throughout. Generous room sizes with neutral colors and vinyl plank flooring throughout. Large backyard and nice curb appeal. Denison is booming and this home is a rare find! Come check out this great opportunity before it is gone. Priced to sell.

Key facts

• Renovated home
• Large backyard
• Open living area

Tags

• RENOVATED HOME
• OPEN LIVING AREA
• ABUNDANCE OF WINDOWS
• LARGE BACKYARD
• MINUTES FROM SHOPPING
• MINUTES FROM RESTAURANTS

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $115k.

Deal economics

• At list price, monthly cash flow is $305 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $115k).
• Recommended offer: $101k (12.0% below list) — sets the bar for market timing.
• Cap rate 9.5% 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+, 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); 62% 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 $794 of loan paydown is wiped out by about $3k 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 167 days — a 12% lower offer ($101k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 3y ago; this cycle's ask has dropped $22k (16%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: property tax is 2.5% of price; built in 1929 — 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 $101,112 (12.0% below list)

Questions for the listing agent

1. It's been on market 167 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 1929 — 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: 1.32% ✓
• Cap rate: 9.48%
• Cash-on-cash: 11.39%
• DSCR: 1.51
• GRM: 6.3

CMA / ARV

• ARV (median comp): $180,368
• List price: $114,900
• Delta: -36.30%
• 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
1311 W Woodard St	0.19mi	3/1.0	1,344 (-6%)	4mo	$78,000	$58	77
1326 W Sears St	0.12mi	2/1.0 (-1)	1,318 (-8%)	2mo	$118,900	$90	74
1328 W Woodard St	0.24mi	2/2.0 (-1)	1,365 (-5%)	2mo	$149,000	$109	69
1231 W Woodard St	0.18mi	2/1.0 (-1)	1,257 (-13%)	2mo	$150,000	$119	64
1213 W Morgan St	0.51mi	3/1.0	1,336 (-7%)	1mo	$99,000	$74	63
615 W Gandy St	0.56mi	2/1.0 (-1)	1,493 (+4%)	1mo	$145,000	$97	61
1609 W Woodard St	0.37mi	3/2.0	1,288 (-10%)	1mo	$239,900	$186	60
826 W Morton St	0.35mi	3/2.0	1,625 (+13%)	1mo	$239,000	$147	58
614 W Owings St	0.73mi	2/1.0 (-1)	1,422 (-1%)	2mo	$90,000	$63	57
1612 W Bond St	0.35mi	2/2.0 (-1)	1,273 (-12%)	1mo	$200,000	$157	55
401 N Mirick Ave	0.58mi	3/2.0	1,313 (-9%)	1mo	$209,000	$159	54
425 W Johnson	0.74mi	3/2.0	1,257 (-13%)	1mo	$215,000	$171	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: -3.0%
• Equity multiple: 0.89×
• Total profit: $-3,456
• Equity at exit: $17,132

10-year hold

• IRR: 2.8%
• Equity multiple: 1.17×
• Total profit: $5,460
• Equity at exit: $9,934

Cash invested: $32,172 (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: 6.3×

Monthly cashflow live

• Estimated rent: $1,517 high
• Mortgage (P&I): −$603
• Tax from tax record: −$243 /mo · $2,910/yr
• Insurance: −$48
• HOA: −$0
• Vacancy / Maint / Mgmt: −$319
• Net cashflow: $305

Break-even live

Break-even rent $1,130

Max offer price $114,900

Occupancy floor 75%

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: $28,725
• Closing costs: $3,447
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1326 W Sears St Denison, TX	2.0	1.0	1318	$1,350	$1.02	21d	1	0.14mi
1016 W Gandy St #4 Denison, TX	2.0	1.5	1000	$1,100	$1.10	43d	1	0.24mi
1004 W Gandy St Denison, TX	3.0	1.0	1250	$1,299	$1.04	21d	1	0.26mi
1231 W Main St Denison, TX	2.0	1.5	1203	$1,575	$1.31	21d	1	0.27mi
731 W Morton St Denison, TX	3.0	2.0	1298	$1,500	$1.16	43d	1	0.42mi
731 W Bond St Denison, TX	3.0	2.0	1297	$1,595	$1.23	21d	1	0.43mi
1602 W Elm St Denison, TX	3.0	2.0	1141	$1,495	$1.31	43d	1	0.43mi
1131 W Owing St Denison, TX	3.0	2.0	1135	$1,695	$1.49	43d	1	0.47mi
1721 W Walker St Denison, TX	2.0	1.0	1322	$1,400	$1.06	43d	1	0.48mi
900 W Chestnut St Denison, TX	3.0	2.0	1742	$1,695	$0.97	43d	1	0.48mi
727 W Johnson St Unit A Denison, TX	3.0	2.5	1238	$1,450	$1.17	43d	1	0.48mi
1120 W Owing St Denison, TX	3.0	2.0	1090	$1,225	$1.12	21d	1	0.50mi
820 W Crawford St Denison, TX	2.0	1.0	996	$1,250	$1.26	21d	1	0.55mi
715 W Chestnut St Denison, TX	2.0	2.0	1273	$1,300	$1.02	43d	1	0.56mi
1731 W Elm St Denison, TX	3.0	2.0	1200	$1,550	$1.29	21d	1	0.60mi
1731 W Elm St Denison, TX	3.0	2.0	1200	$1,575	$1.31	43d	1	0.60mi
527 W Walker St Denison, TX	3.0	2.0	1300	$1,675	$1.29	43d	1	0.62mi
613 W Elm St Unit 613 Denison, TX	3.0	2.0	1375	$1,525	$1.11	44d	1	0.63mi
626 W Chestnut St Denison, TX	2.0	1.0	1132	$1,300	$1.15	21d	1	0.63mi
1905 W Morton St #20 Denison, TX	2.0	1.5	1008	$1,250	$1.24	43d	1	0.65mi
626 W Crawford St Unit 101 Denison, TX	2.0	2.0	950	$950	$1.00	21d	1	0.67mi
1022 W Shepherd St #1022 Denison, TX	3.0	2.5	1322	$1,450	$1.10	21d	1	0.73mi
610 W Owing St Denison, TX	3.0	2.0	1108	$1,395	$1.26	43d	1	0.74mi
1311 W Day St Denison, TX	2.0	1.0	1188	$1,050	$0.88	21d	1	0.76mi
320 W Bond St Denison, TX	3.0	2.0	1278	$1,500	$1.17	44d	1	0.79mi
410 S Mirick Ave Denison, TX	3.0	2.0	1100	$1,300	$1.18	43d	1	0.79mi
921 W Day St Denison, TX	3.0	2.0	1212	$1,500	$1.24	43d	1	0.80mi
401 W Elm St Denison, TX	3.0	2.5	1506	$1,850	$1.23	43d	1	0.82mi
411 S Fannin Ave #411 Denison, TX	3.0	2.5	1322	$1,450	$1.10	21d	1	0.84mi
514 N Rusk Ave Unit 516 Denison, TX	3.0	2.0	1173	$1,375	$1.17	21d	1	0.86mi
514 N Rusk Ave Denison, TX	3.0	2.0	1173	$1,450	$1.24	43d	1	0.86mi
226 W Bond St Unit 224 Denison, TX	3.0	2.5	1294	$1,375	$1.06	43d	1	0.87mi
224 W Bond St Denison, TX	3.0	2.5	1294	$1,375	$1.06	43d	1	0.88mi
1829 Ridgewood Rd Denison, TX	3.0	1.0	1040	$1,100	$1.06	43d	1	0.92mi
1011 S Perry Ave Denison, TX	2.0	2.0	1079	$1,350	$1.25	43d	1	0.97mi
1012 S Maurice Ave Denison, TX	3.0	2.0	1600	$1,895	$1.18	43d	1	0.99mi
1011 S Armstrong Ave Unit A Denison, TX	2.0	1.0	1400	$1,500	$1.07	43d	1	1.04mi
102 Lum Ln Unit 101 Denison, TX	3.0	2.0	1158	$1,600	$1.38	43d	1	1.05mi
412 W Day St Denison, TX	2.0	1.0	900	$1,200	$1.33	21d	1	1.07mi
404 W Day St Denison, TX	3.0	2.0	1057	$1,500	$1.42	21d	1	1.08mi

Listing history 29 events

1. 2026-06-17
   days on market $114,900 Active 167 DOM
2. 2026-06-16
   days on market $114,900 Active 166 DOM
3. 2026-06-15
   days on market $114,900 Active 165 DOM
4. 2026-06-14
   days on market $114,900 Active 163 DOM
5. 2026-06-13
   days on market $114,900 Active 162 DOM
6. 2026-06-10
   days on market $114,900 Active 160 DOM
7. 2026-06-09
   days on market $114,900 Active 159 DOM
8. 2026-06-08
   days on market $114,900 Active 158 DOM
9. 2026-06-07
   days on market $114,900 Active 157 DOM
10. 2026-06-05
    days on market $114,900 Active 154 DOM
11. 2026-06-03
    days on market $114,900 Active 153 DOM
12. 2026-06-02
    days on market $114,900 Active 152 DOM
13. 2026-06-01
    days on market $114,900 Active 151 DOM
14. 2026-05-31
    days on market $114,900 Active 150 DOM
15. 2026-05-30
    days on market $114,900 Active 149 DOM
16. 2026-04-28
    price $114,900 488-char remark

    Show marketing remark (488 chars)

    PRICE IMPROVEMENT! MOTIVATED SELLER! Investment opportunity! Renovated home in the heart of Denison, TX! Minutes from shopping, restaurants, and community events. Open living area and an abundance of windows that provide great natural light throughout. Generous room sizes with neutral colors and vinyl plank flooring throughout. Large backyard and nice curb appeal. Denison is booming and this home is a rare find! Come check out this great opportunity before it is gone. Priced to sell.

17. 2026-04-07
    status Active 488-char remark

    Show marketing remark (488 chars)

    PRICE IMPROVEMENT! MOTIVATED SELLER! Investment opportunity! Renovated home in the heart of Denison, TX! Minutes from shopping, restaurants, and community events. Open living area and an abundance of windows that provide great natural light throughout. Generous room sizes with neutral colors and vinyl plank flooring throughout. Large backyard and nice curb appeal. Denison is booming and this home is a rare find! Come check out this great opportunity before it is gone. Priced to sell.

18. 2026-03-27
    status Pending 488-char remark

    Show marketing remark (488 chars)

    PRICE IMPROVEMENT! MOTIVATED SELLER! Investment opportunity! Renovated home in the heart of Denison, TX! Minutes from shopping, restaurants, and community events. Open living area and an abundance of windows that provide great natural light throughout. Generous room sizes with neutral colors and vinyl plank flooring throughout. Large backyard and nice curb appeal. Denison is booming and this home is a rare find! Come check out this great opportunity before it is gone. Priced to sell.

19. 2026-02-19
    price $129,900 488-char remark

    Show marketing remark (488 chars)

    PRICE IMPROVEMENT! MOTIVATED SELLER! Investment opportunity! Renovated home in the heart of Denison, TX! Minutes from shopping, restaurants, and community events. Open living area and an abundance of windows that provide great natural light throughout. Generous room sizes with neutral colors and vinyl plank flooring throughout. Large backyard and nice curb appeal. Denison is booming and this home is a rare find! Come check out this great opportunity before it is gone. Priced to sell.

20. 2026-02-16
    price $129,000 488-char remark

    Show marketing remark (488 chars)

    PRICE IMPROVEMENT! MOTIVATED SELLER! Investment opportunity! Renovated home in the heart of Denison, TX! Minutes from shopping, restaurants, and community events. Open living area and an abundance of windows that provide great natural light throughout. Generous room sizes with neutral colors and vinyl plank flooring throughout. Large backyard and nice curb appeal. Denison is booming and this home is a rare find! Come check out this great opportunity before it is gone. Priced to sell.

21. 2025-12-18
    listed $136,500 Active 488-char remark

    Show marketing remark (488 chars)

    PRICE IMPROVEMENT! MOTIVATED SELLER! Investment opportunity! Renovated home in the heart of Denison, TX! Minutes from shopping, restaurants, and community events. Open living area and an abundance of windows that provide great natural light throughout. Generous room sizes with neutral colors and vinyl plank flooring throughout. Large backyard and nice curb appeal. Denison is booming and this home is a rare find! Come check out this great opportunity before it is gone. Priced to sell.

22. 2025-10-27
    soldstatus $1,461,503
23. 2025-06-10
    historical
24. 2025-04-11
    price $194,000
25. 2025-03-10
    listed $195,000 Active
26. 2023-06-15
    historical
27. 2023-05-25
    price $225,000
28. 2023-04-28
    listed $235,000 Active
29. 1997-02-05
    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: $2,910 · $243/mo
• Projected year-2 tax: $2,910 · $243/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 · 21 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 20% 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: $18,203
• − Mortgage interest: −$6,436
• − Property taxes: −$2,910
• − Insurance: −$574
• − Repairs & maintenance: −$1,456
• − Management: −$1,456
• − Depreciation: −$3,343
• Taxable income: $2,027
• Est. tax owed @ 24.0%: −$486
• After-tax cash flow: $3,179/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

-51.1% since first listed

14 events — show timeline

• 2026-04-28 Price Changed $114,900 NTREIS
• 2026-04-07 Relisted — NTREIS
• 2026-03-27 Pending — NTREIS
• 2026-02-19 Price Changed $129,900 NTREIS
• 2026-02-16 Price Changed $129,000 NTREIS
• 2025-12-18 Listed $136,500 NTREIS
• 2025-10-27 Sold (Public Records) $1,461,503 Public Records
• 2025-06-10 Listing Removed — NTREIS
• 2025-04-11 Price Changed $194,000 NTREIS
• 2025-03-10 Listed $195,000 NTREIS
• 2023-06-15 Listing Removed — NTREIS
• 2023-05-25 Price Changed $225,000 NTREIS
• 2023-04-28 Listed $235,000 NTREIS
• 1997-02-05 Sold (Public Records) — Public Records

Property tax history

+6.6%/yr

Latest (2025): $2,910 · +8.4% YoY. Source: county tax records.