Well-Maintained Duplex
For Sale
$409,999
208-212 E Cherry Street, Sherman, TX 75090
Well-maintained duplex with one side leased and the other unit available for occupancy or rental income.
Property Size3,224 SF
Price / SF$127.17
Days on Market89
Property Features for 208-212 E Cherry Street
General Information
Standard status
Active
Size
3,224 SF
Property subtype
Duplex
Additional Details
Highway Access
Yes
Multifamily Units
2
Building Details
Year Built
2022
Listing Agency:
Lonestar Luxury Realty
Listed By:
Rene Jensen · License #0720823
(214) 532-6823
Source:
Lonestarluxuryrealty
Added: Jul 24
Changed: Oct 15
Last Checked: Oct 19 at 11:19AM
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 Lonestar Luxury Realty
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Investment Insights
Based on property information with market context.
This well-maintained duplex is offered for sale as a residential income property with two units on one site. One side is currently leased to a long-term tenant, providing immediate rental income, while the other unit is available for owner occupancy or additional rental income. The property is described as being in like-new condition.
The property is located in Sherman near downtown, with access to shopping, dining, parks, schools, and major employers. Quick connectivity to US-75 is noted in the remarks.
The offering consists of 208-212 E Cherry Street, a duplex configuration designed for duplex-style income through a leased unit and a second unit with flexibility for occupancy or leasing.
The property is located in Sherman near downtown, with access to shopping, dining, parks, schools, and major employers. Quick connectivity to US-75 is noted in the remarks.
The offering consists of 208-212 E Cherry Street, a duplex configuration designed for duplex-style income through a leased unit and a second unit with flexibility for occupancy or leasing.
Key Highlights
- Duplex built in 2022
- One side is currently leased to a long‑term tenant
- Other unit available for owner occupancy or additional rental income
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$24,714
Cap Rate
6.03%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$494,280
$494.3K
Cap Rate 7%
$353,057
$353.1K
Cap Rate 9%
$274,600
$274.6K
Market Conditions
NOI Build-Up for 3,224 SF
Gross rent
$39.8K $12.36/SF
− Vacancy
−$4.5K −$1.41/SF
EGI
$35.3K $10.95/SF
− OpEx
−$10.6K −$3.29/SF
NOI
$24.7K $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%
$494,280
Cap Rate 7%
$353,057
Cap Rate 9%
$274,600
Alternative Uses
Best Use
Multifamily LT 5
$353.1K
$308.9K – $411.9K
NOI $24,714 @ 7.0% cap · market cap 6.03%
Second Best
Apartment 5plus
$313.0K
$273.9K – $365.1K
NOI $21,908 @ 7.0% cap · market cap 5.34%
Theoretical Best
Hotel Hospitality
$1.65M
$1.45M – $1.93M
NOI $115,774 @ 7.0% cap · market cap 28.24%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,141
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
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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?
Duplex - Well-maintained duplex with one side leased and the other unit available for occupancy or rental income.
Where is this duplex located?
The property is located at 208-212 E Cherry Street Sherman, TX.
What is the asking price?
The asking price for this property is $409,999.
What are key features of this property?
This property features: Duplex built in 2022; One side is currently leased to a long‑term tenant; Other unit available for owner occupancy or additional rental income
