515 E Murray St · Denison, TX 75021

$59,900

1 bd · None ba · 780 sqft · SingleFamily public records · 120 Days on market

Built 1925 Poor condition 10,411 sqft lot $77/sqft · 48% below area Est $115k · 48% 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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Schools +4.3/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +1.0/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

PLEASE HAVE OFFERS IN BY 8:30 AM THURSDAY 9-5-24. Needs a little tlc so bring your creative ideas with you. This property sits on a huge lot with mature trees surrounding it. Some renovations were started. Kitchen and master bed subfloor has been replaced. The kitchen ceiling re-textured. Wood floors are underneath carpet. Original shiplap walls in the kitchen. This could be a great starter home, rental, or downsize property. Just needs some love and imagination to bring it back to life inside. Property being sold AS-IS.

Key facts

• Completed foundation
• Large lot
• Most of the plumbing

Tags

• PARTIALLY RENOVATED HOME
• LARGE LOT
• MATURE TREES
• COMPLETED FOUNDATION
• FRAMING WORK
• MOST OF THE PLUMBING

What this means for you Summary

Snapshot

• This is a 1-bed/?-bath single-family listed at $60k. Condition is rated poor.

Deal economics

• At list price, monthly cash flow is $459 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $60k).
• Recommended offer: $55k (9.0% below list) — sets the bar for market timing.
• Cap rate 15.5% vs local median 4.0% 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: Lamar El (math 37% / reading 32%, grade F, #1,995 of 4,322 statewide, top 50%, 478 students, 70% 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: 188 active listings in the ZIP; 29 comparable units currently listed for rent nearby; rentals lingering (median 93d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 2,272 units permitted in Grayson County in 2024 (750 in 5+ unit buildings).
• This rent is only 17% of the median local income ($83k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $414 of loan paydown is wiped out by about $2k 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $17k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 120 days — a 9% lower offer ($55k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 2y ago; this cycle's ask has dropped $65k (52%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: property tax is 2.6% of price; built in 1925 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $54,509 (9.0% below list)

Questions for the listing agent

1. It's been on market 120 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. Built in 1925 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
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 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: 1.97% ✓
• Cap rate: 15.50%
• Cash-on-cash: 32.87%
• DSCR: 2.46
• GRM: 4.2

CMA / ARV

• ARV (median comp): $114,959
• List price: $59,900
• Delta: -47.89%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
611 E Acheson St	0.11mi	2/1.0 (+1)	798 (+2%)	15mo	$89,000	$112	74
616 E Murray St	0.13mi	2/1.0 (+1)	746 (-4%)	16mo	$150,000	$201	68
631 E Murray St	0.16mi	2/1.0 (+1)	688 (-12%)	15mo	$148,000	$215	55
1616 S Lyndana Dr	0.20mi	2/1.0 (+1)	720 (-8%)	21mo	$123,000	$171	55
125 E Munson St	0.49mi	1/1.0	672 (-14%)	17mo	$15,000	$22	40
401 W Acheson St	0.70mi	2/1.0 (+1)	868 (+11%)	13mo	$165,000	$190	33

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 28.1%
• Equity multiple: 2.17×
• Total profit: $19,604
• Equity at exit: $8,931

10-year hold

• IRR: 35.6%
• Equity multiple: 4.28×
• Total profit: $54,959
• Equity at exit: $5,179

Cash invested: $16,772 (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 →

Active competition Active MLS

• For sale now: 4 active
• Median asking: $145,000 ($179/sqft)
• Median days on market: 140 d
• This list price: lowest-priced of the active set
• ARV vs active asking: -17.5% vs current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 75021

• Home prices YoY: -17.3%
• Active inventory: 188
• Price-to-rent: 4.2×

Monthly cashflow live

• Estimated rent: $1,177 high
• Mortgage (P&I): −$314
• Tax from tax record: −$132 /mo · $1,580/yr
• Insurance: −$25
• HOA: −$0
• Vacancy / Maint / Mgmt: −$247
• Net cashflow: $459

Break-even live

Break-even rent $596

Max offer price $59,900

Occupancy floor 56%

Sensitivity live

Price	-10% $493	-5% $476	+0% $459	+5% $442	+10% $425
Rent	-10% $366	-5% $413	+0% $459	+5% $506	+10% $552
Rate	-1.0pp $490	-0.5pp $475	base $459	+0.5pp $444	+1.0pp $428

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: $14,975
• Closing costs: $1,797
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 29 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
507 E Heron St Denison, TX	2.0	1.0	1096	$1,250	$1.14	93d	1	0.08mi
505 E Heron St Denison, TX	2.0	1.0	1096	$1,250	$1.14	93d	1	0.09mi
631 E Murray St Denison, TX	2.0	1.0	688	$1,375	$2.00	93d	1	0.18mi
630 E Acheson St Denison, TX	2.0	1.0	816	$1,225	$1.50	70d	1	0.19mi
214 E Acheson St Denison, TX	2.0	1.0	963	$1,499	$1.56	93d	1	0.29mi
120 E Monterey St Unit 120 Denison, TX	2.0	1.0	800	$900	$1.12	93d	1	0.36mi
105 E Hull St Denison, TX	1.0	1.0	700	$1,200	$1.71	93d	1	0.47mi
1527 S Austin Ave Denison, TX	1.0–2.0	1.0–1.5	850	$850	$1.00	70d	2	0.57mi
224 W Hull St Unit B Denison, TX	1.0	1.0	743	$999	$1.34	93d	1	0.60mi
224 W Hull St Unit A Denison, TX	2.0	1.0	743	$1,250	$1.68	93d	1	0.60mi
412 W Day St Denison, TX	2.0	1.0	900	$1,200	$1.33	70d	1	0.81mi
526 W Munson St Denison, TX	2.0	1.0	778	$849	$1.09	70d	2	0.89mi
526 W Munson St Unit 2 Denison, TX	2.0	1.0	778	$999	$1.28	93d	1	0.89mi
701 W Hull St Denison, TX	2.0	1.0	637	$1,100	$1.73	93d	1	0.99mi
912 S Armstrong st. / 731 W. Hull AVE Denison, TX	2.0	1.0	580	$849	$1.46	70d	1	1.05mi
740 W Bullock St Denison, TX	2.0	1.0	1000	$1,250	$1.25	70d	1	1.10mi
317 W Main St #203 Denison, TX	1.0	1.0	1000	$1,600	$1.60	93d	1	1.11mi
317 W Main St Unit 202 Denison, TX	1.0	1.0	1000	$1,700	$1.70	93d	1	1.11mi
632 E Sears St Denison, TX	2.0	1.0	780	$1,250	$1.60	93d	1	1.12mi
615 W Coffin St Denison, TX	2.0	1.0	800	$1,250	$1.56	70d	1	1.13mi
310 S Barrett Ave #101 Denison, TX	1.0	1.0	627	$775	$1.24	70d	1	1.18mi
626 W Crawford St Unit 101 Denison, TX	2.0	2.0	950	$950	$1.00	70d	1	1.18mi
817 W Owing St Denison, TX	1.0	1.0	700	$800	$1.14	70d	1	1.29mi
820 W Crawford St Denison, TX	2.0	1.0	996	$1,250	$1.26	70d	1	1.32mi
105 E Bond St Denison, TX	2.0	1.0	825	$950	$1.15	93d	1	1.33mi
617 W Gandy St Unit 2 Denison, TX	1.0	1.0	600	$799	$1.33	93d	1	1.38mi
617 W Gandy St Unit 3 Denison, TX	2.0	2.0	750	$1,200	$1.60	93d	1	1.39mi
621 W Gandy St Denison, TX	1.0	1.0	550	$1,075	$1.95	93d	1	1.39mi
1011 S Perry Ave Denison, TX	2.0	2.0	1079	$1,350	$1.25	93d	1	1.41mi

Property features AI

Finance

• Other: Property listed as ActiveListing broker: White Rock Realty
• Financial info: Treat as clear loan typeNo second mortgage
• HOA & community: No homeowners association

Exterior

• Parking: DrivewayOn-street parking
• Utilities: City waterCity sewerElectric service available
• Home design: Single family residenceResidential propertyBuilt in 1925Subdivision: Belmont
• Construction: Year built 1925
• Exterior features: Lot under 0.5 acre (approx. 0.239 acres)Concrete and curbs

Interior

• Bedrooms: 1 bedroom on level 1
• Interior features: PanelingOne-level layout1 total room

Listing history 50 events

1. 2026-08-08
   days on market $59,900 Active 120 DOM
2. 2026-08-07
   days on market $59,900 Active 119 DOM
3. 2026-08-06
   days on market $59,900 Active 118 DOM
4. 2026-08-05
   days on market $59,900 Active 117 DOM
5. 2026-08-04
   days on market $59,900 Active 116 DOM
6. 2026-08-03
   days on market $59,900 Active 115 DOM
7. 2026-07-31
   days on market $59,900 Active 112 DOM
8. 2026-07-30
   days on market $59,900 Active 111 DOM
9. 2026-07-29
   days on market $59,900 Active 110 DOM
10. 2026-07-27
    days on market $59,900 Active 108 DOM
11. 2026-07-25
    days on market $59,900 Active 106 DOM
12. 2026-07-24
    days on market $59,900 Active 105 DOM
13. 2026-07-23
    days on market $59,900 Active 104 DOM
14. 2026-07-22
    days on market $59,900 Active 103 DOM
15. 2026-07-21
    days on market $59,900 Active 102 DOM
16. 2026-07-18
    days on market $59,900 Active 99 DOM
17. 2026-07-16
    pricedays on market $59,900 Active 97 DOM
18. 2026-07-16
    days on market $79,900 Active 96 DOM
19. 2026-07-14
    days on market $79,900 Active 95 DOM
20. 2026-07-13
    days on market $79,900 Active 94 DOM
21. 2026-07-12
    days on market $79,900 Active 93 DOM
22. 2026-07-11
    days on market $79,900 Active 92 DOM
23. 2026-07-10
    days on market $79,900 Active 91 DOM
24. 2026-07-09
    days on market $79,900 Active 90 DOM
25. 2026-07-08
    days on market $79,900 Active 89 DOM
26. 2026-07-07
    days on market $79,900 Active 88 DOM
27. 2026-07-06
    days on market $79,900 Active 87 DOM
28. 2026-07-05
    days on market $79,900 Active 86 DOM
29. 2026-07-04
    days on market $79,900 Active 85 DOM
30. 2026-07-03
    days on market $79,900 Active 84 DOM
31. 2026-07-02
    days on market $79,900 Active 83 DOM
32. 2026-07-01
    days on market $79,900 Active 82 DOM
33. 2026-06-30
    days on market $79,900 Active 81 DOM
34. 2026-06-29
    days on market $79,900 Active 80 DOM
35. 2026-06-28
    days on market $79,900 Active 79 DOM
36. 2026-06-28
    days on market $79,900 Active 78 DOM
37. 2026-06-27
    days on market $79,900 Active 77 DOM
38. 2026-06-26
    days on market $79,900 Active 76 DOM
39. 2026-06-23
    days on market $79,900 Active 73 DOM
40. 2026-06-22
    days on market $79,900 Active 72 DOM
41. 2026-06-19
    days on market $79,900 Active 70 DOM
42. 2026-06-18
    days on market $79,900 Active 69 DOM
43. 2026-06-17
    days on market $79,900 Active 68 DOM
44. 2026-06-16
    days on market $79,900 Active 67 DOM
45. 2026-06-15
    days on market $79,900 Active 66 DOM
46. 2026-06-14
    days on market $79,900 Active 64 DOM
47. 2026-06-13
    days on market $79,900 Active 63 DOM
48. 2026-06-10
    days on market $79,900 Active 61 DOM
49. 2026-06-09
    days on market $79,900 Active 60 DOM
50. 2026-06-08
    days on market $79,900 Active 59 DOM

ⓘ 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: $1,580 · $132/mo
• Projected year-2 tax: $1,580 · $132/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 · 20 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 23% 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: $14,128
• − Mortgage interest: −$3,355
• − Property taxes: −$1,580
• − Insurance: −$300
• − Repairs & maintenance: −$1,130
• − Management: −$1,130
• − Depreciation: −$1,743
• Taxable income: $4,890
• Est. tax owed @ 24.0%: −$1,174
• After-tax cash flow: $4,339/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.

Condition & rehab AI · 9 photos

Poor 20/100 Extensive rehab Est. rehab $39,000–$70,200 screening

This property requires extensive renovation, including exterior siding, windows, and interior systems. Significant updates will be needed to bring it back to a livable condition.

Deferred maintenance Est. $50,000–$150,000 screening

• Major Roof (roof) — The roof appears to be in poor condition with visible damage and missing shingles.
• Major Windows (windows) — The windows are boarded up, indicating they are not functioning and need replacement.
• Major Electrical (electrical) — The interior is in disrepair, with exposed wiring and missing fixtures, suggesting significant electrical issues.
• Major Plumbing (plumbing) — The plumbing is exposed and appears to be in poor condition, with visible leaks and damage.
• Major Exterior (exterior) — The exterior is in a state of disrepair, with missing siding, exposed framing, and general deterioration.

Repairs flagged

• Major Exterior siding — Peeling and damaged
• Major Windows — Boarded up
• Major Kitchen cabinets — Exposed subfloor
• Major Bathroom fixtures — Exposed subfloor
• Major Plumbing — Exposed plumbing
• Major Electrical — Exposed wiring

Value-add opportunities

• Both Complete exterior siding repair and replacement — Improves curb appeal and value ↑
• Both Install new windows — Enhances safety and energy efficiency ↑
• Both Rebuild kitchen cabinets and install appliances — Creates a functional and attractive kitchen ↑
• Both Install new bathroom fixtures and flooring — Enhances functionality and aesthetics ↑
• Both Repair and replace plumbing and electrical systems — Ensures safety and functionality ↑

ⓘ Rehab cost is a screening estimate — Extensive scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

F Composite school gradezoned avg 43/100

Zoned Schools

Elementary Lamar El F TX #1,995/4,322 Nat'l #23,081/41,679 Middle Henry Scott Middle D- TX #572/1,662 Nat'l #5,398/14,009 High Denison H S C- TX #437/1,632 Nat'l #4,893/17,239

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

B Composite livability gradescore 73/100

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 · 134,540 people
• City population: 34,008
• Metro: Sherman-Denison, TX
• Population (ZIP): 9,173
• Household income: $83,067
• Rent vs Own: 16.8% rent · 83.2% own
• Severe rent burden: 3% of renters

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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%

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Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (81%)
• Race & ethnicity: White 81% Hispanic / Latino 11% Two or more races 9% Black 2% Asian 1%
• Hispanic origin (detail): Mexican 10%
• Common ancestry: Iranian 3% Italian 2% Lithuanian 1%
• Foreign-born: 5% · Canada
• Languages at home: 91% English-only · Spanish 8% Other Indo-European 1%

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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: ▼ -59.91%
• Current HPI: 285.7502
• Rent YoY: —
• Metro: Sherman-Denison, TX
• State GDP YoY: ▲ 3.95%
• F500 in state: 110

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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

Property features AI

Finance

• Other: Property listed as ActiveListing broker: White Rock Realty
• Financial info: Treat as clear loan typeNo second mortgage
• HOA & community: No homeowners association

Exterior

• Parking: DrivewayOn-street parking
• Utilities: City waterCity sewerElectric service available
• Home design: Single family residenceResidential propertyBuilt in 1925Subdivision: Belmont
• Construction: Year built 1925
• Exterior features: Lot under 0.5 acre (approx. 0.239 acres)Concrete and curbs

Interior

• Bedrooms: 1 bedroom on level 1
• Interior features: PanelingOne-level layout1 total room

Price history

+15.8% since first listed

9 events — show timeline

• 2026-05-31 Price Changed $79,900 NTREIS
• 2026-05-01 Price Changed $120,000 NTREIS
• 2026-04-10 Listed $125,000 NTREIS
• 2024-10-04 Sold (Public Records) — Public Records
• 2024-10-03 Sold (MLS) — NTREIS
• 2024-09-17 Pending — NTREIS
• 2024-09-06 Contingent — NTREIS
• 2024-09-02 Listed $69,000 NTREIS
• 1986-10-30 Sold (Public Records) — Public Records

Property tax history

+6.4%/yr

Latest (2025): $1,580 · +10.9% YoY. Source: county tax records.