515 E Murray St · Denison, TX 75021

$79,900

1 bd · None ba · 780 sqft · SingleFamily public records · 70 Days on market

Built 1925 10,411 sqft lot $102/sqft · 30% below area Est $115k · 30% 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
• DSCR +10.0/10.0
• 1% rule +9.7/10.0
• 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

Opportunity awaits with this partially renovated home ready for the right owner or investor to bring it back to life. Situated on a large lot with mature trees, the property offers a peaceful setting with plenty of space to create your vision. Significant updates have already been started, including completed foundation, framing work, and most of the plumbing. The seller has home plans available, providing a head start for finishing the project. Located in a desirable neighborhood, this property presents excellent potential for renovation, resale, or long-term investment. This home was intended to be a four bedroom, 2 bath home once the project was finished. Property is being sold as-is. Don’t miss this chance to transform it into something special—bring all offers!

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 $80k.

Deal economics

• At list price, monthly cash flow is $346 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $80k).
• Recommended offer: $75k (6.0% below list) — sets the bar for market timing.
• Cap rate 11.5% 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: 165 active listings in the ZIP; 29 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; 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 $552 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 $22k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 70 days — a 6% lower offer ($75k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 2y ago; this cycle's ask has dropped $45k (36%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

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

Recommended offer $75,106 (6.0% below list)

Questions for the listing agent

1. It's been on market 70 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1925 — 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: 1.47% ✓
• Cap rate: 11.49%
• Cash-on-cash: 18.57%
• DSCR: 1.83
• GRM: 5.7

CMA / ARV

• ARV (median comp): $114,850
• List price: $79,900
• Delta: -30.43%
• 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%)	13mo	$89,000	$112	75
616 E Murray St	0.13mi	2/1.0 (+1)	746 (-4%)	14mo	$150,000	$201	70
1616 S Lyndana Dr	0.20mi	2/1.0 (+1)	720 (-8%)	20mo	$123,000	$171	56
631 E Murray St	0.16mi	2/1.0 (+1)	688 (-12%)	14mo	$148,000	$215	56
125 E Munson St	0.49mi	1/1.0	672 (-14%)	15mo	$15,000	$22	41
401 W Acheson St	0.70mi	2/1.0 (+1)	868 (+11%)	11mo	$165,000	$190	34

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: 10.3%
• Equity multiple: 1.41×
• Total profit: $9,137
• Equity at exit: $11,913

10-year hold

• IRR: 19.4%
• Equity multiple: 2.63×
• Total profit: $36,497
• Equity at exit: $6,908

Cash invested: $22,372 (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 75021

• Home prices YoY: -17.3%
• Active inventory: 165
• Price-to-rent: 5.7×

Monthly cashflow live

• Estimated rent: $1,177 high
• Mortgage (P&I): −$419
• Tax from tax record: −$132 /mo · $1,580/yr
• Insurance: −$33
• HOA: −$0
• Vacancy / Maint / Mgmt: −$247
• Net cashflow: $346

Break-even live

Break-even rent $739

Max offer price $79,900

Occupancy floor 66%

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: $19,975
• Closing costs: $2,397
• 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	43d	1	0.08mi
505 E Heron St Denison, TX	2.0	1.0	1096	$1,250	$1.14	43d	1	0.09mi
631 E Murray St Denison, TX	2.0	1.0	688	$1,375	$2.00	43d	1	0.18mi
630 E Acheson St Denison, TX	2.0	1.0	816	$1,225	$1.50	21d	1	0.19mi
214 E Acheson St Denison, TX	2.0	1.0	963	$1,499	$1.56	44d	1	0.29mi
120 E Monterey St Unit 120 Denison, TX	2.0	1.0	800	$900	$1.12	44d	1	0.36mi
105 E Hull St Denison, TX	1.0	1.0	700	$1,200	$1.71	43d	1	0.47mi
1527 S Austin Ave Denison, TX	1.0–2.0	1.0–1.5	850	$850	$1.00	21d	2	0.57mi
224 W Hull St Unit B Denison, TX	1.0	1.0	743	$999	$1.34	43d	1	0.60mi
224 W Hull St Unit A Denison, TX	2.0	1.0	743	$1,250	$1.68	43d	1	0.60mi
412 W Day St Denison, TX	2.0	1.0	900	$1,200	$1.33	21d	1	0.81mi
526 W Munson St Denison, TX	2.0	1.0	778	$849	$1.09	21d	2	0.89mi
526 W Munson St Unit 2 Denison, TX	2.0	1.0	778	$999	$1.28	43d	1	0.89mi
701 W Hull St Denison, TX	2.0	1.0	637	$1,100	$1.73	43d	1	0.99mi
912 S Armstrong st. / 731 W. Hull AVE Denison, TX	2.0	1.0	580	$849	$1.46	21d	1	1.05mi
740 W Bullock St Denison, TX	2.0	1.0	1000	$1,250	$1.25	21d	1	1.10mi
317 W Main St #203 Denison, TX	1.0	1.0	1000	$1,600	$1.60	43d	1	1.11mi
317 W Main St Unit 202 Denison, TX	1.0	1.0	1000	$1,700	$1.70	43d	1	1.11mi
632 E Sears St Denison, TX	2.0	1.0	780	$1,250	$1.60	43d	1	1.12mi
615 W Coffin St Denison, TX	2.0	1.0	800	$1,250	$1.56	21d	1	1.13mi
310 S Barrett Ave #101 Denison, TX	1.0	1.0	627	$775	$1.24	21d	1	1.18mi
626 W Crawford St Unit 101 Denison, TX	2.0	2.0	950	$950	$1.00	21d	1	1.18mi
817 W Owing St Denison, TX	1.0	1.0	700	$800	$1.14	21d	1	1.29mi
820 W Crawford St Denison, TX	2.0	1.0	996	$1,250	$1.26	21d	1	1.32mi
105 E Bond St Denison, TX	2.0	1.0	825	$950	$1.15	43d	1	1.33mi
617 W Gandy St Unit 2 Denison, TX	1.0	1.0	600	$799	$1.33	43d	1	1.38mi
617 W Gandy St Unit 3 Denison, TX	2.0	2.0	750	$1,200	$1.60	43d	1	1.39mi
621 W Gandy St Denison, TX	1.0	1.0	550	$1,075	$1.95	43d	1	1.39mi
1011 S Perry Ave Denison, TX	2.0	2.0	1079	$1,350	$1.25	43d	1	1.41mi

Listing history 25 events

1. 2026-06-19
   days on market $79,900 Active 70 DOM
2. 2026-06-18
   days on market $79,900 Active 69 DOM
3. 2026-06-17
   days on market $79,900 Active 68 DOM
4. 2026-06-16
   days on market $79,900 Active 67 DOM
5. 2026-06-15
   days on market $79,900 Active 66 DOM
6. 2026-06-14
   days on market $79,900 Active 64 DOM
7. 2026-06-13
   days on market $79,900 Active 63 DOM
8. 2026-06-10
   days on market $79,900 Active 61 DOM
9. 2026-06-09
   days on market $79,900 Active 60 DOM
10. 2026-06-08
    days on market $79,900 Active 59 DOM
11. 2026-06-07
    days on market $79,900 Active 58 DOM
12. 2026-06-05
    days on market $79,900 Active 55 DOM
13. 2026-06-03
    days on market $79,900 Active 54 DOM
14. 2026-06-02
    days on market $79,900 Active 53 DOM
15. 2026-06-01
    days on market $79,900 Active 52 DOM
16. 2026-05-31
    pricedays on market $79,900 Active 51 DOM
17. 2026-05-30
    days on market $120,000 Active 50 DOM
18. 2026-05-01
    price $120,000 789-char remark

    Show marketing remark (789 chars)

    Opportunity awaits with this partially renovated home ready for the right owner or investor to bring it back to life. Situated on a large lot with mature trees, the property offers a peaceful setting with plenty of space to create your vision. Significant updates have already been started, including completed foundation, framing work, and most of the plumbing. The seller has home plans available, providing a head start for finishing the project. Located in a desirable neighborhood, this property presents excellent potential for renovation, resale, or long-term investment. This home was intended to be a four bedroom, 2 bath home once the project was finished. Property is being sold as-is. Don’t miss this chance to transform it into something special—bring all offers!

19. 2026-04-10
    listed $125,000 Active 789-char remark

    Show marketing remark (789 chars)

    Opportunity awaits with this partially renovated home ready for the right owner or investor to bring it back to life. Situated on a large lot with mature trees, the property offers a peaceful setting with plenty of space to create your vision. Significant updates have already been started, including completed foundation, framing work, and most of the plumbing. The seller has home plans available, providing a head start for finishing the project. Located in a desirable neighborhood, this property presents excellent potential for renovation, resale, or long-term investment. This home was intended to be a four bedroom, 2 bath home once the project was finished. Property is being sold as-is. Don’t miss this chance to transform it into something special—bring all offers!

20. 2024-10-04
    soldstatus
21. 2024-10-03
    soldstatus Closed 530-char remark

    Show marketing remark (530 chars)

    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.

22. 2024-09-17
    status Pending 530-char remark

    Show marketing remark (530 chars)

    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.

23. 2024-09-06
    historical Active Option Contract 530-char remark

    Show marketing remark (530 chars)

    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.

24. 2024-09-02
    listed $69,000 Active 530-char remark

    Show marketing remark (530 chars)

    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.

25. 1986-10-30
    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: $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 5/10 Major
• 🌡 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: −$4,476
• − Property taxes: −$1,580
• − Insurance: −$400
• − Repairs & maintenance: −$1,130
• − Management: −$1,130
• − Depreciation: −$2,324
• Taxable income: $3,088
• Est. tax owed @ 24.0%: −$741
• After-tax cash flow: $3,413/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): 9,173
• Household income: $83,067
• Rent vs Own: 16.8% rent · 83.2% own
• Severe rent burden: 124.0

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 (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%

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

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

+73.9% since first listed

8 events — show timeline

• 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.