Updated Duplex
For Sale
$399,900
1802-1804 Archer Dr, Sherman, TX 75092
Two-unit residential property with improvements to flooring, paint, appliances, HVAC systems, and electrical panels.
Property Size3,264 SF
Price / SF$122.52
Days on Market184
Property Features for 1802-1804 Archer Dr
General Information
Standard status
Active
Size
3,264 SF
Property subtype
Multi-Family
Building Details
Year Built
1979
Tenancy
Multi
Listing Agency:
FRONTIER PROPERTIES REAL ESTATE, LLC
(903) 583-8721
Listed By:
JOEY JORDAN 903-583-8721 · License #0207460
Source:
Magnoliarealtyargyle
Added: Feb 27
Changed: Aug 30
Last Checked: Aug 25 at 7:08AM
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 FRONTIER PROPERTIES REAL ESTATE, LLC
Investment Insights
Based on property information with market context.
This duplex was built in 1979 and contains 3,264 square feet across its two residences. The 1802 side is the larger unit and is currently vacant while recent work is being completed, including new flooring, paint, appliances, HVAC, and a breaker box. The 1804 side has also received a recent HVAC replacement, breaker box work, and additional updates.
The 1804 resident maintains the lawn, providing an established arrangement for exterior upkeep. The property is located at 1802-1804 Archer Dr in Sherman, Texas.
The 1804 resident maintains the lawn, providing an established arrangement for exterior upkeep. The property is located at 1802-1804 Archer Dr in Sherman, Texas.
Key Highlights
- 3,264‑square‑foot duplex built in 1979
- Larger 1802 side is currently vacant during completion of recent updates
- 1802 improvements include flooring, paint, appliances, HVAC, and breaker box
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
$25,021
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
6.26%
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%
$500,420
$500.4K
Cap Rate 7%
$357,443
$357.4K
Cap Rate 9%
$278,011
$278.0K
Market Conditions
NOI Build-Up for 3,264 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
$40.3K $12.36/SF
− Vacancy
−$4.6K −$1.41/SF
EGI
$35.7K $10.95/SF
− OpEx
−$10.7K −$3.29/SF
NOI
$25.0K $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%
$500,420
Cap Rate 7%
$357,443
Cap Rate 9%
$278,011
Alternative Uses
Best Use
Multifamily LT 5
$357.4K
$312.8K – $417.0K
NOI $25,021 @ 7.0% cap · market cap 6.26%
Second Best
Apartment 5plus
$316.9K
$277.3K – $369.7K
NOI $22,180 @ 7.0% cap · market cap 5.55%
Theoretical Best
Hotel Hospitality
$1.67M
$1.47M – $1.95M
NOI $117,210 @ 7.0% cap · market cap 29.31%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
188
Businesses Nearby
Explore this area
Business Placement
Demographics for 75092, TX
27,186
Population
13,117
Households
2.1
Avg Household Size
39
Median Age
30%
College-Educated
94%
High-School Grad
113.9 sq mi
ZIP Area
239
Density / Sq Mi
$67,160
Median Household Income
$41,683
Median Earnings
$1,205
Median Rent
$260,100
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 - Two-unit residential property with improvements to flooring, paint, appliances, HVAC systems, and electrical panels.
Where is this duplex located?
The property is located at 1802-1804 Archer Dr Sherman, TX.
What is the asking price?
The asking price for this property is $399,900.
What are key features of this property?
This property features: 3,264‑square‑foot duplex built in 1979; Larger 1802 side is currently vacant during completion of recent updates; 1802 improvements include flooring, paint, appliances, HVAC, and breaker box
