Two-Residence Duplex with Equestrian
New
For Sale
$506,000
111 Mitchell Road, Sherman, TX 75090
MULTI_FAMILY - Sherman, TX
Property Size1,886 SF
Lot Size1.77 Acres
Price / SF$268.29
Days on Market2
Property Features for 111 Mitchell Road
General Information
Property type
Residential Multi Family
Property subtype
Other
Property condition
Under Construction
Bedrooms
4
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 2, Bathroom 1, Bedroom 1, Bathroom 2, Bedroom 3, Bedroom 4, Bathroom 3
Parking
3
Patio and Porch features
Deck
Interior features
KitchenIsland, OpenFloorplan
Exterior features
Deck, Storage
Appliances
Dishwasher, ElectricCooktop, Microwave
Subdivision
Aaron Burleson Surv Abs #61
Lot features
Acreage, Cleared, Corner Lot
Elementary school
Percy W Neblett
Middle school
Sherman
High school
Sherman
Elementary school district
Sherman ISD
Middle school district
Sherman ISD
High school district
Sherman ISD
Directions
Please see GPS.
Standard status
Active
APN
388305
Size
1,886 SF
Lot size
1.77 Acres
Taxes and HOA fees
Tax Description
G-0061 BURLESON AARON A-G0061, ACRES 1.77
Tax Annual Amount
3304
Legal Description
G-0061 BURLESON AARON A-G0061, ACRES 1.77
Utilities
Sewer type
Septic Tank
Heating system
Central
Cooling system
Electric
Water front features
Creek
Building Details
Year built
2026
Floors in Building
1
Number of units
2
Flooring type
Concrete
Building materials
MetalSiding, Concrete
Roof type
Metal
Additional Structures
Storage
Listing Agency:
Keller Williams Realty DPR
(972) 732-6000
Listed By:
Deborah Newsome
(972) 732-6000
Added: Aug 3
Changed: Aug 4
Last Checked: Aug 4 at 12:06PM
MLS# 21348400
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.
Investment Insights
Based on property information with market context.
This duplex property includes two independent residences totaling 1,886 square feet and four bedrooms. The newer residence measures 1,214 square feet and offers three bedrooms, while the second cottage provides 672 square feet, one bedroom, a full kitchen and bath, dual vanities, a tub, and a front porch. Interior features include open floorplans and kitchen islands, with dishwasher, electric cooktop, and microwave appliances. Metal siding, concrete construction, metal roofing, central heating, electric cooling, and a septic tank complete the improvements.
Set on a 1.77-acre corner lot outside the city limits, the property includes fencing, three loafing stalls, a storage shed, and creek frontage. Horses are allowed. The address is in Sherman, near the Texas Instruments and GlobalWafers sites, with access to Dallas and area retail and industrial employment centers.
Set on a 1.77-acre corner lot outside the city limits, the property includes fencing, three loafing stalls, a storage shed, and creek frontage. Horses are allowed. The address is in Sherman, near the Texas Instruments and GlobalWafers sites, with access to Dallas and area retail and industrial employment centers.
Key Highlights
- Two independent residences totaling 1,886 square feet and 4 bedrooms
- 3‑bedroom residence measures 1,214 sq ft and was built in 2026
- 1‑bedroom cottage offers 672 sq ft, full kitchen and bath, and front porch
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 | $23.3k | $12.36 |
| − Vacancy | −$2.7k | −$1.41 |
| EGI | $20.7k | $10.95 |
| − OpEx | −$6.2k | −$3.29 |
| NOI | $14.5k | $7.67 |
1,886 SF · lease $12.36/SF/yr · vacancy 11.40% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$206.5K
$180.7K – $241.0K
NOI $14,457 @ 7.0% cap · market cap 2.86%
Second Best
Apartment 5plus
$183.1K
$160.2K – $213.6K
NOI $12,816 @ 7.0% cap · market cap 2.53%
Theoretical Best
Hotel Hospitality
$967.5K
$846.6K – $1.13M
NOI $67,726 @ 7.0% cap · market cap 13.38%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Demographics for 75090, TX
25,002
Population
9,602
Households
2.6
Avg Household Size
35
Median Age
15%
College-Educated
84%
High-School Grad
78.5 sq mi
ZIP Area
318
Density / Sq Mi
$58,586
Median Household Income
$36,230
Median Earnings
$1,111
Median Rent
$163,500
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 - Corner-lot duplex with separate residences, rural amenities, and flexible multigenerational or rental use.
Where is this duplex located?
The property is located at 111 Mitchell Road Sherman, TX.
What is the asking price?
The asking price for this property is $506,000.
What are key features of this property?
This property features: Two independent residences totaling 1,886 square feet and 4 bedrooms; 3‑bedroom residence measures 1,214 sq ft and was built in 2026; 1‑bedroom cottage offers 672 sq ft, full kitchen and bath, and front porch
