Updated Duplex with Attached
New
For Sale
$365,000
2805 W Washington Street, Denison, TX 75020
Two updated units offer open living areas, fenced private yards, and attached garages with utility hookups.
Property Size2,611 SF
Days on Market2
Property Features for 2805 W Washington Street
General Information
Standard status
Active
Size
2,611 SF
Property subtype
Duplex
Units
Multifamily Units
2
Parking per Unit
1
Taxes and HOA fees
Annual Taxes
$7,505
Amenities
fenced backyard
Building Details
Building Size
2,611 SF
Year Built
2020
Buildings
1
Tenancy
Single
Listing Agency:
EXP REALTY
Listed By:
Jenny Jun · License #0816020
(888) 519-7431
Source:
Texasliferealestate
Added: Sep 6
Last Checked: Sep 7 at 8:31AM
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 EXP REALTY
Investment Insights
Based on property information with market context.
Built in 2020, this duplex includes two updated residential units, each with three bedrooms, an open-concept main level, wood-look flooring, and an updated kitchen with granite countertops and stainless steel appliances. Every unit also has a privately fenced backyard and a one-car attached garage with utility hookups. The upstairs bedrooms feature ensuite bathrooms.
One unit is occupied on a month-to-month basis, while the other is available for immediate occupancy. The property is in Denison near Lake Texoma and Downtown Denison, where local boutiques, antique shops, restaurants, and craft beverage venues line the Main Street district.
The layout supports separate occupancy for residents, guests, or tenants, with private outdoor space and dedicated garage access for each unit.
One unit is occupied on a month-to-month basis, while the other is available for immediate occupancy. The property is in Denison near Lake Texoma and Downtown Denison, where local boutiques, antique shops, restaurants, and craft beverage venues line the Main Street district.
The layout supports separate occupancy for residents, guests, or tenants, with private outdoor space and dedicated garage access for each unit.
Key Highlights
- Duplex built in 2020
- Each unit includes 3 bedrooms and an open‑concept main level
- Updated kitchens with granite countertops and stainless steel appliances
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$20,015
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.48%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$400,300
$400.3K
Cap Rate 7%
$285,929
$285.9K
Cap Rate 9%
$222,389
$222.4K
Market Conditions
NOI Build-Up for 2,611 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$32.3K $12.36/SF
− Vacancy
−$3.7K −$1.41/SF
EGI
$28.6K $10.95/SF
− OpEx
−$8.6K −$3.29/SF
NOI
$20.0K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$400,300
Cap Rate 7%
$285,929
Cap Rate 9%
$222,389
Alternative Uses
Best Use
Multifamily LT 5
$285.9K
$250.2K – $333.6K
NOI $20,015 @ 7.0% cap · market cap 5.48%
Second Best
Apartment 5plus
$253.5K
$221.8K – $295.7K
NOI $17,743 @ 7.0% cap · market cap 4.86%
Theoretical Best
Hotel Hospitality
$1.34M
$1.17M – $1.56M
NOI $93,761 @ 7.0% cap · market cap 25.69%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
374
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Two updated units offer open living areas, fenced private yards, and attached garages with utility hookups.
Where is this duplex located?
The property is located at 2805 W Washington Street Denison, TX.
What is the asking price?
The asking price for this property is $365,000.
What are key features of this property?
This property features: Duplex built in 2020; Each unit includes 3 bedrooms and an open‑concept main level; Updated kitchens with granite countertops and stainless steel appliances
