6-Unit Duplex
New
For Sale
$899,000
1901 W Shields, Sherman, TX 75092
Three duplex buildings offer carports, in-unit laundry, and yard space at select residences.
Property Size7,344 SF
Price / SF$122.41
Days on Market1
Property Features for 1901 W Shields
General Information
Standard status
Active
Size
7,344 SF
Property subtype
Multi-Family
Occupancy
100%
Additional Details
Multifamily Units
6
Amenities
carports
in unit laundry
yards
Building Details
Year Built
1968
Buildings
3
Listing Agency:
eXp Realty LLC
(682) 583-7747
Listed By:
Fritz Realty Group
(469) 789-6769
Source:
Fritzrealtygroup
Added: Oct 19
Last Checked: Oct 19 at 6:05AM
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 eXp Realty LLC
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Investment Insights
Based on property information with market context.
This Sherman multifamily property consists of three duplex buildings with six units in total. Built in 1968, the property includes carports and in-unit laundry; select residences also have yards. All six units are currently leased.
The property is in Sherman, where the source identifies Texas Instruments’ semiconductor campus and GlobalWafers America facility as part of the local employment base. Historic downtown Sherman is noted for dining, shopping, and cultural events.
The property is in Sherman, where the source identifies Texas Instruments’ semiconductor campus and GlobalWafers America facility as part of the local employment base. Historic downtown Sherman is noted for dining, shopping, and cultural events.
Key Highlights
- Three duplex buildings comprise 6 units
- All units are currently leased
- Built in 1968
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$56,297
Cap Rate
6.26%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,125,940
$1.1M
Cap Rate 7%
$804,243
$804.2K
Cap Rate 9%
$625,522
$625.5K
Market Conditions
NOI Build-Up for 7,344 SF
Gross rent
$90.8K $12.36/SF
− Vacancy
−$10.3K −$1.41/SF
EGI
$80.4K $10.95/SF
− OpEx
−$24.1K −$3.29/SF
NOI
$56.3K $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 Rate 5%
$1,125,940
Cap Rate 7%
$804,243
Cap Rate 9%
$625,522
Alternative Uses
Best Use
Multifamily LT 5
$804.2K
$703.7K – $938.3K
NOI $56,297 @ 7.0% cap · market cap 6.26%
Second Best
Apartment 5plus
$712.9K
$623.8K – $831.8K
NOI $49,905 @ 7.0% cap · market cap 5.55%
Theoretical Best
Hotel Hospitality
$3.77M
$3.30M – $4.40M
NOI $263,723 @ 7.0% cap · market cap 29.34%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Open Analytics
Lease Details
6
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
436
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Multifamily property - Three duplex buildings offer carports, in-unit laundry, and yard space at select residences.
Where is this multifamily property located?
The property is located at 1901 W Shields Sherman, TX.
What is the asking price?
The asking price for this property is $899,000.
What are key features of this property?
This property features: Three duplex buildings comprise 6 units; All units are currently leased; Built in 1968
