Two-Unit Duplex
1002 West Washington Street Sherman, TX 75092
1002 West Washington Street, Sherman, TX, 75092
$425,000
For Sale
$425,000
Occupied duplex with two 2-bedroom, 2-bath units featuring updated flooring and paint, covered parking, and in-unit utility rooms.
Property Size2,678 SF
Price / SF$158.70
Days on Market82
Property Features for 1002 West Washington Street
General Information
- Standard status
- Active
- Size
- 2,678 SF
- Property subtype
- Multi-Family / Full Duplex
Building Details
- Year Built
- 1986
Listing agency
Real Broker, LLC
(903) 267-9704
Listed by
Amanda Phillips · License #0575722
(903) 267-9704
Source
Compass
Added: May 2 Updated: Jul 21 at 10:53PM Checked: Jul 21 at 10:53PM
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 Real Broker, LLC
Investment Insights
Based on property information with market context.
This property is a duplex containing two occupied units. Each unit is a 2-bedroom, 2-bath layout with updated flooring and paint throughout. The units include a kitchen with appliances, including a refrigerator, as well as a full-size utility room. Each unit also benefits from two covered parking spots, a privacy-fenced side yard, and an outside storage closet.
The roof was recently replaced. The property is located at 1002 West Washington Street in Sherman, TX, and the adjacent duplex at 1004 and 1006 West Washington Street is also listed for sale.
Overall, the building offers a straightforward residential income configuration with consistent unit improvements and practical on-site parking, outdoor space, and storage for each side.
The roof was recently replaced. The property is located at 1002 West Washington Street in Sherman, TX, and the adjacent duplex at 1004 and 1006 West Washington Street is also listed for sale.
Overall, the building offers a straightforward residential income configuration with consistent unit improvements and practical on-site parking, outdoor space, and storage for each side.
Key Highlights
- Two‑unit duplex in Sherman, TX: 1000 and 1002 W Washington
- Each unit offers 2 bedrooms and 2 bathrooms with updated flooring and paint
- Central air and central heating in each unit; flooring includes carpet and vinyl
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $33.1k | $12.36 |
| − Vacancy | −$3.8k | −$1.41 |
| EGI | $29.3k | $10.95 |
| − OpEx | −$8.8k | −$3.29 |
| NOI | $20.5k | $7.67 |
2,678 SF · lease $12.36/SF/yr · vacancy 11.40% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$293.3K
$256.6K – $342.2K
NOI $20,529 @ 7.0% cap · market cap 4.83%
Second Best
Apartment 5plus
$260.0K
$227.5K – $303.3K
NOI $18,198 @ 7.0% cap · market cap 4.28%
Theoretical Best
Hotel Hospitality
$1.37M
$1.20M – $1.60M
NOI $96,167 @ 7.0% cap · market cap 22.63%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Duplexes
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FAQs
What type of property is this?
Duplex - Occupied duplex with two 2-bedroom, 2-bath units featuring updated flooring and paint, covered parking, and in-unit utility rooms.
Where is this duplex located?
The property is located at 1002 West Washington Street Sherman, TX.
What is the asking price?
The asking price for this property is $425,000.
What are key features of this property?
This property features: Two‑unit duplex in Sherman, TX: 1000 and 1002 W Washington; Each unit offers 2 bedrooms and 2 bathrooms with updated flooring and paint; Central air and central heating in each unit; flooring includes carpet and vinyl
