1219 Scripture St, Denton, TX 76201

Description

Craftsman Duplex & Two Cottages Blocks from UNT
7.2% Cap on Actual T12

1219-1223 Scripture St. is four rental units in three buildings on a deep 0.216-acre lot, per 2022 survey, a few blocks from the University of North Texas campus (approx. 40,000 students, fall 2025) and the Fry Street district, Denton's primary restaurant and bar corridor.

The trailing 12 months (Aug 2025 to Jul 2026) produced $26,283 in NOI with capital items expensed: a 7.2% cap rate at list, at $91,250 per unit. The income has been steady. Unit 1223 renewed through June 30, 2027. Unit 1219.5 has been vacant since March 2026 and is available to lease; at $850 month it adds $10,200 year in gross income. Tenants pay electric and gas. The owner pays water for two units and the first $50 month of electric on 1223.

The upside is in updating the interiors while keeping the character. The front duplex is a Craftsman-style building with bracketed gables, deep eaves and a wide covered porch. The two cottages behind it share a yard and a concrete patio. The partly updated cottage at 1221, with washer and dryer included, rents for $1,075, which is $225 more than the larger duplex units. Bringing both duplex units to that standard would add $5,400 year in gross income, and both already have washer and dryer hookups. The Seller has spent a little over $33k between 2022-2025 on various cap ex items.

The property is in FEMA Zone X (not a flood zone) per the 2022 survey.

NO SELLER FINANCING

- Walk to UNT Campus, Fry Street & the Square
- Room to Grow Rents - The larger duplex units rent for $225 less than the partly updated cottage at 1221, and both already have washer and dryer hookups.
- Vintage Character - Craftsman-style duplex with bracketed gables, deep eaves, and a wide covered porch.
- Immediate Lease-Up - Leasing 1219.5 at $850 month adds $10,200 year in gross income.
- Multiple Tenant Pools - appeals to students as well as non-students and professionals.