<PAGE>   1

                UNITED STATED SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                  ------------

                                    FORM 10-Q

                                  ------------

(Mark One)

  [X]      QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
           EXCHANGE ACT OF 1934

           For the quarterly period ended September 30, 1998..........

                                       OR

  [ ]      TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
           EXCHANGE ACT OF 1934

           For the transition period from _______________ to _______________

                               COMMISSION FILE NO.
                                     0-14105

                                  ------------

                        MURRAY INCOME PROPERTIES I, LTD.
             (Exact Name of Registrant as Specified in its Charter)


                        TEXAS                               75-1946214
           (State or Other Jurisdiction of               (I.R.S. Employer
           Incorporation or Organization)               Identification No.)

  5550 LBJ FREEWAY, SUITE 675, DALLAS, TEXAS                  75240
   (Address of principal executive offices)                (Zip Code)

                                 (972) 991-9090
              (Registrant's Telephone Number, including Area Code)


     Indicate by check mark whether the registrant (1) has filed all reports
required to be filed by Section 13 or 15(d) of the Securities Exchange Act of
1934 during the preceding 12 months (or for such shorter period that the
registrant was required to file such reports), and (2) has been subject to such
filing requirements for the past 90 days.

                        Yes   X         No
                            -----          -----

<PAGE>   2



MURRAY INCOME PROPERTIES I, LTD.
(A LIMITED PARTNERSHIP)
AND CONSOLIDATED JOINT VENTURE
CONSOLIDATED BALANCE SHEETS

<TABLE>
<CAPTION>
---------------------------------------------------------------------------------

                                                     September 30,   December 31,
                                                         1998           1997
                                                     -------------   ------------
                                                      (unaudited)
<S>                                                   <C>             <C>        
ASSETS

Investment properties, at cost:
   Land                                               $ 6,232,801     $ 6,232,801
   Buildings and improvements                          20,383,802      20,319,183
                                                      -----------     -----------
                                                       26,616,603      26,551,984
   Less accumulated depreciation                       10,410,887       9,779,632
                                                      -----------     -----------
     Net investment properties                         16,205,716      16,772,352

Cash and cash equivalents                               1,663,607       1,620,246
Accounts and notes receivable,
   net of allowance of $3,138 and
   $5,655, in 1998 and 1997, respectively                 712,921         712,929
Other assets, at cost, net of accumulated
   amortization of $569,714 and $512,307
   in 1998 and 1997, respectively                         229,450         244,668
                                                      -----------     -----------
                                                      $18,811,694     $19,350,195
                                                      ===========     ===========

LIABILITIES AND PARTNERS' EQUITY

Accounts payable                                      $    14,857     $    13,498
Accrued property taxes                                    189,512         195,500
Security deposits                                         172,601         183,609
                                                      -----------     -----------
          Total liabilities                               376,970         392,607
                                                      -----------     -----------

Minority interest in joint venture                      1,338,098       1,391,212
                                                      -----------     -----------

Partners' equity:
   General Partners:
     Capital contributions                                  1,000           1,000
     Cumulative net earnings                              234,134         217,606
     Cumulative cash distributions                       (392,757)       (366,834)
                                                      -----------     -----------
                                                         (157,623)       (148,228)
                                                      -----------     -----------

   Limited Partners (28,227 Interests):
     Capital contributions, net of offering costs      24,570,092      24,570,092
     Cumulative net earnings                           11,929,310      11,119,449
     Cumulative cash distributions                    (19,245,153)    (17,974,937)
                                                      -----------     -----------
                                                       17,254,249      17,714,604
                                                      -----------     -----------
          Total partners' equity                       17,096,626      17,566,376
                                                      -----------     -----------
                                                      $18,811,694     $19,350,195
                                                      ===========     ===========
</TABLE>


See accompanying notes to consolidated financial statements.


                                       2

<PAGE>   3



MURRAY INCOME PROPERTIES I, LTD.
(A LIMITED PARTNERSHIP)
AND CONSOLIDATED JOINT VENTURE
CONSOLIDATED STATEMENTS OF EARNINGS
<TABLE>
<CAPTION>
-----------------------------------------------------------------------------------------------------------

                                                  Three Months Ended                Nine Months Ended
                                                     September 30,                    September 30
                                              ---------------------------      ----------------------------
                                                  1998            1997            1998             1997
                                              -----------     -----------      -----------      -----------
<S>                                           <C>             <C>              <C>              <C>        
INCOME:
   Rental                                     $   780,682     $   779,480      $ 2,365,909      $ 2,409,591
   Interest                                        23,652          25,254           67,543           64,170
                                              -----------     -----------      -----------      -----------
                                                  804,334         804,734        2,433,452        2,473,761
                                              -----------     -----------      -----------      -----------

EXPENSES:
   Depreciation                                   210,162         212,407          631,255          636,759
   Property operating                             204,884         188,092          635,455          596,814
   General and administrative                      60,443          94,708          238,304          260,110
   Bad debt (recovery)                                372            (578)            (837)          (1,871)
                                              -----------     -----------      -----------      -----------
                                                  475,861         494,629        1,504,177        1,491,812
                                              -----------     -----------      -----------      -----------

     Earnings before minority interest            328,473         310,105          929,275          981,949

     Minority interest in joint venture's
       earnings                                    34,312          34,407          102,886          105,279
                                              -----------     -----------      -----------      -----------

     Net earnings                             $   294,161     $   275,698      $   826,389      $   876,670
                                              ===========     ===========      ===========      ===========

Basic earnings per limited partnership
   interest                                   $     10.21     $      9.57      $     28.69      $     30.44
                                              ===========     ===========      ===========      ===========
</TABLE>



See accompanying notes to consolidated financial statements.


                                       3

<PAGE>   4



MURRAY INCOME PROPERTIES I, LTD.
(A LIMITED PARTNERSHIP)
AND CONSOLIDATED JOINT VENTURE
CONSOLIDATED STATEMENTS OF CHANGES IN PARTNERS' EQUITY
<TABLE>
<CAPTION>
------------------------------------------------------------------------------------------

                                                              General            Limited
                                            Partners          Partners           Total
                                            --------          --------           -------

<S>                                       <C>               <C>               <C>         
NINE MONTHS ENDED SEPTEMBER 30, 1997:

   Balance at December 31, 1996           $   (137,548)     $ 18,237,930      $ 18,100,382
   Net earnings                                 17,533           859,137           876,670
   Cash distributions                          (24,843)       (1,217,294)       (1,242,137)
                                          ------------      ------------      ------------
   Balance at September 30, 1997          $   (144,858)     $ 17,879,773      $ 17,734,915
                                          ============      ============      ============


NINE MONTHS ENDED SEPTEMBER 30, 1998:

   Balance at December 31, 1997           $   (148,228)     $ 17,714,604      $ 17,566,376
   Net earnings                                 16,528           809,861           826,389
   Cash distributions                          (25,923)       (1,270,216)       (1,296,139)
                                          ------------      ------------      ------------
   Balance at September 30, 1998          $   (157,623)     $ 17,254,249      $ 17,096,626
                                          ============      ============      ============
</TABLE>

See accompanying notes to consolidated financial statements.


                                       4

<PAGE>   5



MURRAY INCOME PROPERTIES I, LTD.
(A LIMITED PARTNERSHIP)
AND CONSOLIDATED JOINT VENTURE
CONSOLIDATED STATEMENTS OF CASH FLOWS
(UNAUDITED)
<TABLE>
<CAPTION>
----------------------------------------------------------------------------------------

                                                                  Nine Months Ended
                                                                    September 30,
                                                            ----------------------------
                                                               1998             1997
                                                            -----------      -----------

<S>                                                         <C>              <C>        
Cash flows from operating activities:
    Net earnings                                            $   826,389      $   876,670
    Adjustments to reconcile net earnings to net
     cash provided by operating activities:
       Bad debts (recoveries), net                                 (837)          (1,871)
       Depreciation                                             631,255          636,759
       Amortization of other assets                              57,407           54,640
       Minority interest in joint venture's earnings            102,886          105,279
       Change in assets and liabilities:
          Accounts and notes receivable                             845          (28,053)
          Other assets                                          (42,189)         (38,462)
          Accounts payable                                        1,359           (3,546)
          Accrued property taxes and security deposits          (16,996)         (14,462)
              Net cash provided by operating activities       1,560,119        1,586,954
                                                            -----------      -----------

Cash flows from investing activities -
    Additions to investment properties                          (64,619)         (42,674)
                                                            -----------      -----------

Cash flows from financing activities:
    Distributions to minority interest in joint venture        (156,000)        (158,700)
    Cash distributions                                       (1,296,139)      (1,242,137)
                                                            -----------      -----------
             Net cash used in financing activities           (1,452,139)      (1,400,837)
                                                            -----------      -----------

Net increase in cash and cash equivalents                        43,361          143,443
Cash and cash equivalents at beginning of period              1,620,246        1,417,536
                                                            -----------      -----------
Cash and cash equivalents at end of period                  $ 1,663,607      $ 1,560,979
                                                            ===========      ===========
</TABLE>


See accompanying notes to consolidated financial statements.


                                       5

<PAGE>   6



MURRAY INCOME PROPERTIES I, LTD.
(A LIMITED PARTNERSHIP)
AND CONSOLIDATED JOINT VENTURE
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
--------------------------------------------------------------------------------

1.  BASIS OF ACCOUNTING

   The consolidated financial statements include the accounts of the Partnership
and Tower Place Joint Venture (85% owned by the Partnership). All significant
intercompany balances and transactions have been eliminated in consolidation.

   The preparation of financial statements in conformity with generally accepted
accounting principles requires management to make estimates and assumptions that
affect the reported amounts of assets and liabilities and disclosure of
contingent assets and liabilities at the date of the financial statements and
the reported amounts of income and expenses during the reporting period. Actual
results could differ from those estimates.

   Rental income is recognized as earned under the leases. Accordingly, the
Partnership accrues rental income for the full period of occupancy using the
straight line method over the related terms. At September 30, 1998 and December
31, 1997, $463,185 and $492,448, respectively, of accounts receivable related to
such accruals.

   Other assets consist primarily of deferred leasing costs which are amortized
using the straight line method over the lives of the related leases.

   Depreciation is provided over the estimated useful lives of the respective
assets using the straight line method. The estimated useful lives of the
buildings and improvements range from three to twenty-five years.

   The Partnership periodically reevaluates the propriety of the carrying
amounts of investment properties to determine whether current events and
circumstances warrant an adjustment to such carrying amounts. Such evaluations
are performed utilizing annual appraisals performed by independent appraisers as
well as internally developed estimates of expected undiscounted future cash
flows. In the event the carrying value of an individual property exceeds
expected future undiscounted cash flows, the property is written down to the
most recently appraised value. Since inception of the Partnership, none of the
Partnership's properties have required write downs.

   No provision for income taxes has been made as the liabilities for such taxes
are those of the individual Partners rather than the Partnership. The
Partnership files its tax return on the accrual basis used for Federal income
tax purposes.

   Basic earnings per limited partnership interest are based upon the limited
partnership interests outstanding at period-end and the net earnings allocated
to the Limited Partners in accordance with the terms of the Partnership
Agreement, as amended.

  For purposes of reporting cash flows, the Partnership considers all
certificates of deposit and highly liquid debt instruments with original
maturities of three months or less to be cash equivalents.


                                       6

<PAGE>   7


--------------------------------------------------------------------------------

   The following information relates to estimated fair values of the
Partnership's financial instruments as of September 30, 1998 and December 31,
1997. For cash and cash equivalents, accounts and notes receivable, accounts
payable, accrued property taxes payable, and security deposits, the carrying
amounts approximate fair value because of the short maturity of these
instruments.

2.  PARTNERSHIP AGREEMENT

   Pursuant to the terms of the Partnership Agreement, net profits or losses of
the Partnership and cash distributions are generally allocated 98% to the
Limited Partners and 2% to the General Partners. Cash distributions from the
sale or refinancing of a property are allocated as follows:

(a)      First, all Cash Distributions from Sales or Refinancings shall be
         allocated 99% to the Limited Partners and 1% to the Non-corporate
         General Partner until the Limited Partners have been returned their
         Original Invested Capital from Cash Distributions from Sales or
         Refinancings, plus their Preferred Return from Cash Distributions from
         Operations or Cash Distributions from Sales or Refinancings, or both.

(b)      Next, all Cash Distributions from Sales or Refinancings shall be
         allocated 1% to the Non-corporate General Partner and 99% to the
         Limited Partners and the General Partners. Such 99% will be allocated
         (i) first to the Corporate General Partner in an amount equal to any
         unpaid Cash Distributions from Operations subordinated to the Limited
         Partners' 7% non-cumulative annual return and (ii) thereafter, 80% to
         the Limited Partners and 20% to the General Partners.

         Cash Distributions from Sales or Refinancings (other than the 1% of
         Cash Distributions from Sales or Refinancings payable to the
         Non-corporate General Partner) payable to the General Partners shall be
         allocated 62 1/2% to the Non-corporate General Partner and 37 1/2% to
         the Corporate General Partner.

3.  INVESTMENT PROPERTIES

   The Partnership owns and operates Mountain View Plaza, a shopping center
located in Scottsdale, Arizona and Castle Oaks Village, a shopping center
located in Castle Hills (San Antonio), Texas. In addition, the Partnership owns
an 85% interest in Tower Place Joint Venture, a joint venture which owns Tower
Place Festival Shopping Center located in Pineville (Charlotte), North Carolina.
The remaining 15% interest in the joint venture is owned by Murray Income
Properties II, Ltd. ("MIP II"), an affiliated real estate limited partnership.
The Tower Place Joint Venture Agreement provides that the Partnership will share
profits, losses, and cash distributions according to the Partnership's 85%
ownership interest in the joint venture.

4.  OTHER

   Information furnished in this interim report reflects all adjustments
consisting of normal recurring adjustments, which, in the opinion of management,
are necessary to reflect a fair presentation of the results for the periods
presented.


                                       7

<PAGE>   8





   The financial information included in this interim report as of September 30,
1998 and for the three and nine months ended September 30, 1998 and 1997 has
been prepared by management without audit by independent public accountants who
do not express an opinion thereon. The Partnership's annual report contains
audited consolidated financial statements. The notes to the consolidated
financial statements in the Partnership's 1997 annual report are an integral
part of the consolidated financial statements presented herein.

ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS
        OF OPERATIONS.

Liquidity and Capital Resources

   As of September 30, 1998, the Partnership had cash and cash equivalents of
$1,663,607. Such amounts represent cash generated from operations and working
capital reserves.

   Rental income from leases with escalating rental rates is accrued using the
straight line method over the related lease terms. At September 30, 1998 and
December 31, 1997, $463,185 and $492,448, respectively, of accounts receivable
related to such accruals. Accounts receivable also consist of tenant
receivables, receivables for rent collected (but not yet remitted by the
property management companies managing the properties), and interest receivable
on short-term investments. Accounts receivable (exclusive of bad debts and
recoveries) remained flat from December 31, 1997 to September 30, 1998 with an
increase in receivables for rent collected (but not yet remitted by the property
management companies) at each of the Partnership's properties offset by a
decrease in receivables related to the accruals described above at each of the
Partnership's properties. As of September 30, 1998 and December 31, 1997, the
Partnership had allowances of $3,138 and $5,655, respectively, for uncollectible
accounts receivable.

   The decrease of $5,988 in accrued property taxes from December 31, 1997 to
September 30, 1998 is primarily due to the payment of 1997 property taxes for
the Partnership's properties.

   During the three months ended September 30, 1998, the Partnership made Cash
Distributions from Operations totaling $432,046 relating to the three month
period ended June 30, 1998. Subsequent to September 30, 1998, the Partnership
made Cash Distributions from Operations of $432,046 relating to the three months
ended September 30, 1998. The distributed funds were derived from the net cash
flow generated from operations of the Partnership's properties and from interest
earned, net of administrative expenses, on funds invested in short-term money
market instruments.

   Future liquidity is currently expected to result from cash generated from the
operations of the Partnership's properties (which could be affected negatively
in the event of weakened occupancies and/or effective rental rates), interest
earned on funds invested in short-term money market instruments and ultimately
through the sale of the Partnership's properties.


                                        8

<PAGE>   9



RESULTS OF OPERATIONS

   Rental income decreased $43,682 for the nine months ended September 30, 1998
as compared to the same period in 1997. The following information details the
rental income generated, bad debt expense incurred, and average occupancy for
the periods shown for the Partnership's properties.

<TABLE>
<CAPTION>
                                              Three Months Ended             Nine Months Ended
                                                 September 30,                 September 30,
                                         --------------------------      --------------------------
                                            1998            1997            1998            1997
                                         ----------      ----------      ----------      ----------
<S>                                      <C>             <C>             <C>             <C>       
Mountain View Plaza Shopping Center
   Rental income                         $  238,274      $  244,952      $  706,996      $  762,381
   Bad debt expense (recovery)                  768              -0-          1,278              -0-
   Average occupancy                             98%            100%             98%            100%

Castle Oaks Village Shopping Center
   Rental income                         $  107,847      $  101,993      $  325,644      $  311,347
   Bad debt expense (recovery)                 (464)           (578)         (1,938)         (2,831)
   Average occupancy                             92%             90%             92%             91%

Tower Place Festival Shopping Center
   Rental income                         $  434,561      $  432,535      $1,333,269      $1,335,863
   Bad debt expense (recovery)                   68              -0-           (177)            960
   Average occupancy                             95%             98%             97%             98%
</TABLE>

   Rental income at Mountain View Plaza in Scottsdale, Arizona decreased $55,385
for the nine months ended September 30, 1998 as compared to the same period in
1997 due to lower tenant reimbursements for common area maintenance costs and
real estate taxes.

   Occupancy at Mountain View averaged 98% during the third quarter, unchanged
from the previous quarter. In August, repairs and re-striping of the parking lot
were completed. Wild Oats Markets, who occupies 19,359 square feet closed in
November, 1997, but has continued to pay rent according to the terms of its
lease. As part of the efforts to re-lease this space, management is exploring
the possibility of having the property re-zoned in order to expand permitted
uses at the shopping center.

   Rental income at Castle Oaks Village in Castle Hills (San Antonio), Texas
increased $14,297 for the nine months ended September 30, 1998 as compared to
the same period in 1997 primarily due to an increase in occupancy, an increase
in rental rates, and higher tenant reimbursements for common area maintenance
costs and real estate taxes.

   Occupancy at Castle Oaks averaged 92% for the third quarter, unchanged from
the previous quarter. One tenant who occupies 1,500 square feet renewed its
lease for 39 months.

   Rental income at Tower Place Festival in Pineville (Charlotte), North
Carolina decreased $2,594 for the nine months ended September 30, 1998 as
compared to the same period in 1997, with increases in base rent being offset by
decreases in tenant reimbursements for common area maintenance costs and
percentage rent received.


                                       9

<PAGE>   10



   Occupancy at Tower Place averaged 95% during the third quarter, a three
percent decrease from the previous quarter. One tenant who occupied 2,310 square
feet vacated its space prior to the expiration of its lease. A tenant who
occupied 1,050 square feet vacated its space upon expiration of its lease. This
space was subsequently leased to a new tenant who took occupancy in September. A
tenant who leases 3,500 square feet renewed its lease for five years. General
Cinema, whose eight-screen theater occupies 31,837 square feet, closed its
operation at Tower Place on August 27. They have continued to pay rent according
to the terms of their lease, which expires September 30, 2006. Management is
aggressively pursuing a replacement tenant for this space.

   Depreciation is provided over the estimated useful lives of the respective
assets using the straight line method. The estimated useful lives of the
buildings and improvements range from three to twenty-five years.

   Property operating expenses consist primarily of real estate taxes, property
management fees, insurance costs, utility costs, repair and maintenance costs,
leasing and promotion costs, and amortization of deferred leasing costs. The
increase in property operating expenses of $38,641 for the nine months ended
September 30, 1998 as compared to the same period in 1997 is primarily due to
increased repair and maintenance costs at Tower Place and Mountain View, higher
leasing and promotion costs and legal costs at Mountain View and higher real
estate taxes at each of the Partnership's properties. Mountain View's total
operating expenses increased primarily because of increases in repair and
maintenance costs, leasing and promotion expenses, legal costs and real estate
taxes. Castle Oak's total operating expenses were flat with higher utilities and
real estate taxes being offset by lower landscaping costs and insurance costs.
Tower Place's total operating expenses increased with higher repair and
maintenance costs, utility costs and real estate taxes being offset by lower
leasing and promotion costs.

   General and administrative expenses incurred are related to legal and
accounting expenses, rent, investor services costs, salaries and benefits and
various other costs required for the administration of the Partnership,
including reimbursements of shared direct operating costs to Murray Income
Properties II, Ltd. General and administrative expenses decreased $21,806 for
the nine months ended September 30, 1998 as compared to the same period in 1997,
primarily due to decreases in accounting and legal costs, investor services
costs and telephone expenses, offset by increases in salaries and benefits.

     The Partnership recognized that the arrival of the Year 2000 poses a unique
challenge to the ability of an entity's information technology system and 
non-information technology systems to recognize the date change from December 
31, 1999 to January 1, 2000. The Partnership is continuing to assess and has 
made certain changes to provide for continued functionality of its systems. An 
assessment of the readiness of the Partnership's external entities, such as 
vendors, customers, payment systems and others is ongoing. Due to the nature 
and extent of the Partnership's operations that are effected by Year 2000 
issues, the Partnership does not believe that Year 2000 issues will have a 
material adverse effect on the business operation or the financial performance 
of the Partnership. There can be no assurance, however, that Year 2000 issues 
will not adversely effect the Partnership or its business. The Parternship
beleives that the cost to make appropriate changes to its internal and 
external systems will not be significant and that such costs will be funded 
completely through operations.

     Words or phrases when used in the Form 10-Q or other filings with the 
Securities and Exchange Commission, such as "does not believe" and "believes", 
or similar expressions are intended to identify "forward-looking statements" 
within the meaning of the Private Securities Litigation Reform Act of 1995.



                                       10


<PAGE>   11



PART II.  OTHER INFORMATION

ITEM 6.  EXHIBITS AND REPORTS ON FORM 8-K

     (a)      Exhibits:

              3a    Agreement of Limited Partnership of Murray Income
                    Properties, Ltd.-84. Reference is made to Exhibit A of the
                    Prospectus dated May 31, 1984 contained in Amendment No. 2
                    to Partnership's Form S-11 Registration Statement. (File No.
                    2-90016)

              3b    Amended and Restated Certificate and Agreement of Limited
                    Partnership dated as of May 23, 1984. Reference is made to
                    Exhibit 3b to the 1989 Annual Report on Form 10-K filed with
                    the Securities and Exchange Commission on March 31, 1989.
                    (File No. 0-14105)

              3c    Amended and Restated Certificate and Agreement of Limited
                    Partnership dated as of June 25, 1984. Reference is made to
                    Exhibit 3c to the 1989 Annual Report on Form 10-K filed with
                    the Securities and Exchange Commission on March 31, 1989.
                    (File No. 0-14105)

              3d    Amended and Restated Certificate and Agreement of Limited
                    Partnership dated as of November 27, 1984. Reference is made
                    to Exhibit 3d to the 1989 Annual Report on Form 10-K filed
                    with the Securities and Exchange Commission on March 31,
                    1989. (File No. 0-14105)

              3e    Amended and Restated Certificate and Agreement of Limited
                    Partnership dated as of April 1, 1985. Reference is made to
                    Exhibit 3e to the 1989 Annual Report on Form 10-K filed with
                    the Securities and Exchange Commission on March 31, 1989.
                    (File No. 0-14105)

              3f    Amended and Restated Certificate and Agreement of Limited
                    Partnership dated as of November 15, 1989. Reference is made
                    to Exhibit 3f to the 1989 Annual Report on Form 10-K filed
                    with the Securities and Exchange Commission on March 31,
                    1989. (File No. 0-14105)

              3g    Amended and Restated Certificate and Agreement of Limited
                    Partnership dated as of January 10, 1990. Reference is made
                    to Exhibit 3g to the 1989 Annual Report on Form 10-K filed
                    with the Securities and Exchange Commission on March 31,
                    1989. (File No. 0-14105)

              27    Financial Data Schedule. Filed herewith.

              99a   Glossary, as contained in the Prospectus dated May 31, 1984
                    filed as part of Amendment No. 2 to Registrant's Form S-11
                    Registration Statement. (File No. 2-90016) Filed herewith.

              99b   Article XIII of the Agreement of Limited Partnership as
                    contained in the Prospectus dated May 31, 1984 filed as part
                    of the Amendment No. 2 to Registrant's Form S-11
                    Registration Statement. (File No. 2-90016) Filed herewith.

              99c   Amendment number nine to the Agreement of Limited
                    Partnership contained in the Proxy Statement dated October
                    11, 1989. Filed herewith.

                                       11

<PAGE>   12


              99d   Management Compensation as contained in the Prospectus
                    (Pages 10 through 17) dated May 31, 1984 filed as part of
                    Amendment No. 2 to Registrant's Form S-11 Registration
                    Statement. (File No. 2-90016) Filed herewith.

          (b) Reports on Form 8-K filed during the quarter ended September 30,
              1998:

              None


                                       12

<PAGE>   13



                                   SIGNATURES

     Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.

                                   MURRAY INCOME PROPERTIES I, LTD.

                                   By:     Murray Realty Investors VIII, Inc.
                                           A General Partner



Date:  November 6, 1998            By:      /s/ Mitchell Armstrong
                                         -------------------------
                                           Mitchell Armstrong
                                           President
                                           Chief Financial Officer


                                       13

<PAGE>   14



                                INDEX TO EXHIBITS



<TABLE>
<CAPTION>
        Exhibit No.                     DESCRIPTION
        -----------                     -----------
        <S>         <C>                                                    
              3a    Agreement of Limited Partnership of Murray Income
                    Properties, Ltd.-84. Reference is made to Exhibit A of the
                    Prospectus dated May 31, 1984 contained in Amendment No. 2
                    to Partnership's Form S-11 Registration Statement. (File No.
                    2-90016)

              3b    Amended and Restated Certificate and Agreement of Limited
                    Partnership dated as of May 23, 1984. Reference is made to
                    Exhibit 3b to the 1989 Annual Report on Form 10-K filed with
                    the Securities and Exchange Commission on March 31, 1989.
                    (File No. 0-14105)

              3c    Amended and Restated Certificate and Agreement of Limited
                    Partnership dated as of June 25, 1984. Reference is made to
                    Exhibit 3c to the 1989 Annual Report on Form 10-K filed with
                    the Securities and Exchange Commission on March 31, 1989.
                    (File No. 0-14105)

              3d    Amended and Restated Certificate and Agreement of Limited
                    Partnership dated as of November 27, 1984. Reference is made
                    to Exhibit 3d to the 1989 Annual Report on Form 10-K filed
                    with the Securities and Exchange Commission on March 31,
                    1989. (File No. 0-14105)

              3e    Amended and Restated Certificate and Agreement of Limited
                    Partnership dated as of April 1, 1985. Reference is made to
                    Exhibit 3e to the 1989 Annual Report on Form 10-K filed with
                    the Securities and Exchange Commission on March 31, 1989.
                    (File No. 0-14105)

              3f    Amended and Restated Certificate and Agreement of Limited
                    Partnership dated as of November 15, 1989. Reference is made
                    to Exhibit 3f to the 1989 Annual Report on Form 10-K filed
                    with the Securities and Exchange Commission on March 31,
                    1989. (File No. 0-14105)

              3g    Amended and Restated Certificate and Agreement of Limited
                    Partnership dated as of January 10, 1990. Reference is made
                    to Exhibit 3g to the 1989 Annual Report on Form 10-K filed
                    with the Securities and Exchange Commission on March 31,
                    1989. (File No. 0-14105)

              27    Financial Data Schedule. Filed herewith.

              99a   Glossary, as contained in the Prospectus dated May 31, 1984
                    filed as part of Amendment No. 2 to Registrant's Form S-11
                    Registration Statement. (File No. 2-90016) Filed herewith.

              99b   Article XIII of the Agreement of Limited Partnership as
                    contained in the Prospectus dated May 31, 1984 filed as part
                    of the Amendment No. 2 to Registrant's Form S-11
                    Registration Statement. (File No. 2-90016) Filed herewith.
</TABLE>



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<PAGE>   15

<TABLE>
              <S>   <C>                                           
              99c   Amendment number nine to the Agreement of Limited
                    Partnership contained in the Proxy Statement dated October
                    11, 1989. Filed herewith.

              99d   Management Compensation as contained in the Prospectus
                    (Pages 10 through 17) dated May 31, 1984 filed as part of
                    Amendment No. 2 to Registrant's Form S-11 Registration
                    Statement. (File No. 2-90016) Filed herewith.
</TABLE>


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