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    The Largest CRE Database in the US with Over 1 Million Listings

    500-502 Owings St Denison, TX 75020

    Sponsored
    For Sale
    $479,000

    Duplex - Denison, TX

    Type:Duplex
    Lot size:
    0.17 Acres
    Days on Market:
    5
    Last Refresh:
    Jan 26 at 10:06 am

    Property Features for 500-502 Owings St

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Duplex
    Standard status
    Active
    Rooms
    Bathroom 1, Bathroom 2, Bathroom 3, Bathroom 4, Bathroom 5, Bedroom 1, Bedroom 2, Bedroom 3, Bedroom 4, Bedroom 5
    Bedrooms
    6
    Bathrooms
    6
    APN
    TBD
    Parking
    4
    Parking features
    Driveway, Garage
    Patio and Porch features
    Patio, Porch
    Interior features
    Cable Tv Available, Flat Screen Wiring, High Speed Internet Available
    Exterior features
    Covered Patio/Porch, Rain Gutters, Fence
    Fencing
    Fenced
    Appliances
    Dishwasher, Garbage Disposer, Microwave, Range, Washer
    Lot size
    0.17 Acres

    Utilities

    Utilities
    Cable Available
    Heating system
    Central, Electric (Heating), Heat Pump (Heating)
    Cooling system
    Ceiling Fan(s), Central Air, Electric, Heat Pump

    Building Details

    Year built
    2021
    Floors in Building
    2
    Flooring type
    Carpet, Tile, Tile - Ceramic, Vinyl
    Building materials
    Frame
    Roof type
    Composition
    Architectural style
    Other

    We can help!

    Listing Contact
    Philip Martin

    eXp Realty, LLC (888) 519-7431

    Listing agent Philip Martin (888) 519-7431 License #0635201

    Listing date Jan 22, 2026

    MLS# 21145741 Listing URL

    Copyright © 2026 North Texas Real Estate Information Systems, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Turn-Key Duplex in Downtown Denison

    This turn-key, income-producing duplex is located in a high-demand downtown location and has a history of minimal vacancy and premium rent pricing. The low-maintenance property is an ideal opportunity for investors seeking stable cash flow in a market with strong tenant demand for both short and long term. Each unit features a 3-bedroom, 2.5-bath layout with an attached 2-car garage. The design maximizes tenant privacy with the only shared wall located at the garage and entrances on opposite ends. Interior features include a first-floor primary suite, additional flex spaces ideal for home offices, raised ceilings, granite countertops, stainless steel appliances, luxury vinyl flooring throughout, designer finishes, separate utility room and full blinds package. Energy-efficient foam insulation keeps operating costs low while maintaining tenant comfort. Outdoor amenities include a covered porch and patio, fenced courtyard, and park-facing views. The property’s walkable location to historic downtown Denison, restaurants, grocery stores, festivals, and major employers drives consistent demand. It is centrally located near Texoma Medical Center, Sherman, Lake Texoma, and Choctaw Casino. The property is suited for both long-term hold investors and those seeking a high-quality asset in a growth corridor. The lot size is 0.17 acres.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

    Restaurant Building Supply Wholesale Shop Auto Repair Shop Clothing Store Hotel & Motel Kitchen & Bath HVAC Service Pawn Shop Bakery

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Denison
    County
    Grayson
    State
    Texas
    Longitude
    -96.541869
    Latitude
    33.752456

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    FAQs

    What type of property is this?
    Duplex - Income-producing duplex with minimal vacancy and premium rent pricing.
    Where is this duplex located?
    The property is located at 500-502 Owings St Denison, TX.
    What is the asking price?
    The asking price for this property is $479,000.
    What are key features of this property?
    This property features: - Turn-key, income-producing duplex with a history of minimal vacancy and premium rent pricing.; - Each unit features a desirable 3-bedroom, 2.5-bath layout with an attached 2-car garage.; - Prime downtown location walkable to restaurants, grocery stores, festivals, major employers, and near Texoma Medical Center, Sherman, Lake Texoma, and Choctaw Casino.
    (888) 519-7431
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    500-502 Owings St Denison, TX 75020
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    Denison, TX 75020
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    500-502 Owings St Denison, TX 75020
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    We can help!
    Listing Contact
    Philip Martin
    Real Estate License ID: 0635201
    (888) 519-7431
    Learn more
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