Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    115 N Mckown Ave Sherman, TX 75092

    Sponsored
    For Sale
    $309,000

    Duplex - Sherman, TX

    Type:Duplex
    Lot size:
    0.17 Acres
    Days on Market:
    15
    Last Refresh:
    Feb 27 at 5:06 am

    Property Features for 115 N Mckown Ave

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Duplex
    Standard status
    Active
    Rooms
    Bathroom 1, Bathroom 2, Bedroom 1, Bedroom 2, Bedroom 3, Bedroom 4
    Bedrooms
    4
    Bathrooms
    2
    APN
    162245
    Parking
    2
    Parking features
    On Street
    Interior features
    Cable Tv Available
    Appliances
    Dishwasher, Washer
    Lot size
    0.17 Acres

    Utilities

    Utilities
    Cable Available
    Heating system
    Other (Heating)
    Cooling system
    Multi Units

    Building Details

    Year built
    1965
    Floors in Building
    1
    Flooring type
    Vinyl
    Building materials
    Brick
    Roof type
    Asphalt
    Architectural style
    Other

    We can help!

    Listing Contact
    Rex Rhorer

    Coldwell Banker Apex (972) 208-8797

    Listing agent Rex Rhorer (972) 208-8797 License #0768076

    Listing date Feb 13, 2026

    MLS# 21179835 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

    Sherman TX Duplex Investment

    This well-maintained duplex in Sherman, Texas, presents an investment opportunity. Each side of the full duplex features 2 bedrooms, 1 bathroom, and 1 living area. Both units have been updated with vinyl flooring, quartz countertops, and new cabinets. Situated in Grayson County, the property occupies a 0.165-acre lot. Sherman is experiencing rapid growth in North Texas, with new companies establishing operations and population growth projected to double within the next five to ten years.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

    Real Estate Agency Restaurant Law Firm Dental Office Spa & Massage Center Hair Salon Nail Salon Building Supply Gym & Fitness Center Daycare Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Sherman
    County
    Grayson
    State
    Texas
    Longitude
    -96.624523
    Latitude
    33.63414

    Nearby Similar for Sale

    • $850,000
      3,400 SF

      Sherman Office Building in Medical Corridor

      3,400 SF office building in Sherman's growing medical corridor.
      3415 N Loy Lake Rd, Sherman, TX 75090
      View Details
    • $375,000
      0.34 Acres

      Sherman, TX - Veterinary Office

      Veterinary office in downtown Sherman with multiple rooms and outdoor storage.
      825 N Crockett St, Sherman, TX 75090
      View Details
    • $675,000
      0.34 Acres

      Renovated Medical Office Near Hospital

      Newly renovated medical office building near Wilson N. Jones hospital.
      300 N Bryant Ave, Sherman, TX 75090
      View Details
    • $1,350,000
      5,250 SF

      Medical Office Building For Sale

      5,250 SF medical office building in high-visibility Sherman location.
      815 Pecan Grove Rd E, Sherman, TX 75090
      View Details
    • $1,113,750
      4,950 SF

      Historic Downtown Sherman Mixed-Use Property

      Mixed-use property in historic downtown Sherman, one block from the square.
      205 E Houston St, Sherman, TX 75090
      View Details
    • $435,000
      0.33 Acres

      Sherman Income-Producing Retail Asset

      Downtown Sherman property with tenant in place and versatile buildings.
      220 S Elm St, Sherman, TX 75090
      View Details
    • $1,300,000
      0.52 Acres

      Sherman Medical Office Building

      Turnkey medical office in a high-growth Sherman corridor.
      1700 Gallagher Dr, Sherman, TX 75090
      View Details
    • New
      $1,595,000
      4,208 SF

      Texas Ranch Living with Acreage

      Refined Texas ranch on nearly 12 acres in Grayson County.
      1088 Smith Oak Rd, Sherman, TX 75090
      View Details
    • $1,650,000
      1.37 Acres

      Versatile Sherman Property For Sale

      Adaptable building in growing Sherman corridor, near major developments.
      920 Heritage Pkwy, Sherman, TX 75092
      View Details
    • $1,090,000
      11.97 Acres

      Sherman, TX Land with Building

      11.966 acres with commercial building and highway frontage.
      28400 W Us Highway 82, Sherman, TX 75092
      View Details
    • $225,000
      0.06 Acres

      Sherman Office-Warehouse with Roll-Up Door

      Versatile office-warehouse with modern office space and rear storage.
      1522 E Houston St, Sherman, TX 75090
      View Details
    • $1,300,000
      1,008 SF

      Sherman TX Farm/Ranch with Shop

      49-acre farm/ranch with large shop near Sherman's growth area.
      3356 Old Dorchester Rd, Sherman, TX 75092
      View Details

    FAQs

    What type of property is this?
    Duplex - Well-maintained duplex in fast-growing Sherman, updated with modern finishes.
    Where is this duplex located?
    The property is located at 115 N Mckown Ave Sherman, TX.
    What is the asking price?
    The asking price for this property is $309,000.
    What are key features of this property?
    This property features: - Excellent investment opportunity in rapidly growing Sherman, North Texas.; - Duplex offers potential rental income from two units.; - Both units are updated with vinyl flooring, quartz countertops, and new cabinets.
    (972) 208-8797
    Request Owner's contact information
    115 N Mckown Ave Sherman, TX 75092
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    115 N Mckown Ave
    Sherman, TX 75092
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    115 N Mckown Ave Sherman, TX 75092
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Rex Rhorer
    Real Estate License ID: 0768076
    (972) 208-8797
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!