New Construction Duplex with
For Sale
$365,000
1219-1223 South Austin Street, Sherman, TX 75090
Newly built duplex with two-bedroom, two-bath units, each with a private garage and modern finishes.
Property Size2,594 SF
Price / SF$140.71
Days on Market242
Property Features for 1219-1223 South Austin Street
General Information
Standard status
Active
Size
2,594 SF
Total Parking Spaces
6
Property subtype
Multi-Family / Full Duplex
Additional Details
Highway Access
Yes
Multifamily Units
2
Amenities
large backyard
Ceiling Fan(s), Central Air, Electric
Central, Electric
Carpet, Luxury Vinyl Plank, Tile
Dishwasher, Disposal, Electric Range, Electric Water Heater, Microwave
Cable TV Available
No
Composition
One
1
Slab
Plans
2
Brick, Siding
Rear Porch
Building Details
Year Built
2026
Buildings
1
Tenancy
Multi
Listing Agency:
C-21 DEAN GILBERT, REALTORS
Listed By:
Clay Gilbert · License #0731330
(903) 814-7527
Source:
Compass
Added: Jan 8
Changed: Aug 8
Last Checked: Jul 21 at 1:54PM
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 C-21 DEAN GILBERT, REALTORS
Investment Insights
Based on property information with market context.
New construction duplex offering two matching units, each laid out with 2 bedrooms and 2 bathrooms. Each side includes a private garage and modern finishes designed for efficient day-to-day living.
The property is located just minutes from Hwy 75 in Sherman, TX, with access to nearby shopping, dining, and major employers.
In addition to the unit amenities, the duplex includes a large backyard, providing outdoor space for residents on either side of the property.
The property is located just minutes from Hwy 75 in Sherman, TX, with access to nearby shopping, dining, and major employers.
In addition to the unit amenities, the duplex includes a large backyard, providing outdoor space for residents on either side of the property.
Key Highlights
- New construction duplex (2 units) built in 2026 on a slab foundation
- Each unit features 2 bedrooms and 2 baths with a private garage
- Modern interior finishes including carpet, luxury vinyl plank, and tile flooring
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$19,885
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.45%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$397,700
$397.7K
Cap Rate 7%
$284,071
$284.1K
Cap Rate 9%
$220,944
$220.9K
Market Conditions
NOI Build-Up for 2,594 SF
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.
Gross rent
$32.1K $12.36/SF
− Vacancy
−$3.7K −$1.41/SF
EGI
$28.4K $10.95/SF
− OpEx
−$8.5K −$3.29/SF
NOI
$19.9K $7.67/SF
Area
Grayson County, TX
Vacancy
11.40%
Lease Rate
$12.36 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$397,700
Cap Rate 7%
$284,071
Cap Rate 9%
$220,944
Alternative Uses
Best Use
Multifamily LT 5
$284.1K
$248.6K – $331.4K
NOI $19,885 @ 7.0% cap · market cap 5.45%
Second Best
Apartment 5plus
$251.8K
$220.3K – $293.8K
NOI $17,627 @ 7.0% cap · market cap 4.83%
Theoretical Best
Hotel Hospitality
$1.33M
$1.16M – $1.55M
NOI $93,151 @ 7.0% cap · market cap 25.52%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
163
Businesses Nearby
Explore this area
Business Placement
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 - Newly built duplex with two-bedroom, two-bath units, each with a private garage and modern finishes.
Where is this duplex located?
The property is located at 1219-1223 South Austin Street Sherman, TX.
What is the asking price?
The asking price for this property is $365,000.
What are key features of this property?
This property features: New construction duplex (2 units) built in 2026 on a slab foundation; Each unit features 2 bedrooms and 2 baths with a private garage; Modern interior finishes including carpet, luxury vinyl plank, and tile flooring
