Three-Unit Residential Income
224 W Hull Street 101-3, Denison, TX 75020
For Sale
$274,900
The property combines two-bedroom, one-bedroom, and studio layouts, with parking at both the front and rear.
Property Size2,398 SF
Days on Market18
Property Features for 224 W Hull Street 101-3
General Information
Standard status
Size
Property subtype
Units
Unit Mix
Multifamily Units
Additional Details
Tenant in Place
Taxes and HOA fees
Annual Taxes
Building Details
Building Size
Year Built
Buildings
Listing Agency:
Ebby Halliday, Realtors
Listed By:
Laura Morris
(214) 509-0808
Source:
Texasliferealestate
Added: Oct 23
Changed: Nov 9
Last Checked: Nov 8 at 4:14PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Ebby Halliday, Realtors
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
Built in 1930, this three-unit residential property includes a two-bedroom, one-bath unit with living and dining rooms, a kitchen, central heat and air, and washer and dryer connections. A second unit offers one bedroom, one bath, an office area, living and dining rooms, and a kitchen. The upper-level studio has one bedroom and one bath.
Recorded improvements include roof and decking work, replacement plumbing water lines, refinished wood floors, updated appliances and countertops, fresh interior paint, and LVP flooring. Parking is provided at the front and rear of the units. One unit has a long-standing tenant; the other two are available for showings.
Recorded improvements include roof and decking work, replacement plumbing water lines, refinished wood floors, updated appliances and countertops, fresh interior paint, and LVP flooring. Parking is provided at the front and rear of the units. One unit has a long-standing tenant; the other two are available for showings.
Key Highlights
- Three residential units: two‑bedroom, one‑bedroom with office, and upper‑level studio
- Built in 1930
- Central heat and air in the two‑bedroom unit
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$18,382
Cap Rate
6.69%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$367,640
$367.6K
Cap Rate 7%
$262,600
$262.6K
Cap Rate 9%
$204,244
$204.2K
Market Conditions
NOI Build-Up for 2,398 SF
Gross rent
$29.6K $12.36/SF
− Vacancy
−$3.4K −$1.41/SF
EGI
$26.3K $10.95/SF
− OpEx
−$7.9K −$3.29/SF
NOI
$18.4K $7.67/SF
Area
Grayson County, TX
Vacancy
11.40%
Lease Rate
$12.36 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$367,640
Cap Rate 7%
$262,600
Cap Rate 9%
$204,244
Alternative Uses
Best Use
Multifamily LT 5
$262.6K
$229.8K – $306.4K
NOI $18,382 @ 7.0% cap · market cap 6.69%
Second Best
Apartment 5plus
$232.8K
$203.7K – $271.6K
NOI $16,295 @ 7.0% cap · market cap 5.93%
Theoretical Best
Office A
$843.5K
$738.1K – $984.1K
NOI $59,048 @ 7.0% cap · market cap 21.48%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
334
Businesses Nearby
Explore this area
Business Placement
Demographics for 75020, TX
23,782
Population
10,802
Households
2.2
Avg Household Size
42
Median Age
19%
College-Educated
90%
High-School Grad
61.0 sq mi
ZIP Area
390
Density / Sq Mi
$66,308
Median Household Income
$38,656
Median Earnings
$1,136
Median Rent
$187,200
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Triplex - The property combines two-bedroom, one-bedroom, and studio layouts, with parking at both the front and rear.
Where is this triplex located?
The property is located at 224 W Hull Street 101-3 Denison, TX.
What is the asking price?
The asking price for this property is $274,900.
What are key features of this property?
This property features: Three residential units: two‑bedroom, one‑bedroom with office, and upper‑level studio; Built in 1930; Central heat and air in the two‑bedroom unit
