Updated
For Sale
$399,900
1802-1804 Archer Dr, Sherman, TX 75092
Two-unit property with one vacant side and improvements completed across both units.
Property Size3,264 SF
Price / SF$122.52
Days on Market270
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
Listing Agency:
FRONTIER PROPERTIES REAL ESTATE, LLC
Listed By:
JOEY JORDAN 903-583-8721 · License #0207460
(903) 583-8721
Source:
Divinerealtygrp
Added: Dec 27, 2025
Changed: Sep 23
Last Checked: Sep 22 at 2:55PM
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 3,264-square-foot duplex was built in 1979 and includes two distinct sides at 1802 and 1804 Archer Dr. The 1802 unit is the larger side and is vacant following work that included new flooring, interior paint, appliances, HVAC, and a breaker box. Improvements to 1804 include HVAC, a breaker box, and additional updates.
The 1804 unit is occupied, and its tenant maintains the lawn. The property is located in Sherman, Texas, with separate unit conditions and current occupancy details providing a clear overview for evaluating the duplex.
The 1804 unit is occupied, and its tenant maintains the lawn. The property is located in Sherman, Texas, with separate unit conditions and current occupancy details providing a clear overview for evaluating the duplex.
Key Highlights
- 3,264‑square‑foot duplex built in 1979
- Larger 1802 side is currently vacant
- 1802 updates include flooring, paint, appliances, HVAC and a 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
Current Use
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two-unit property with one vacant side and improvements completed across both units.
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; 1802 updates include flooring, paint, appliances, HVAC and a breaker box
