Two-Unit Duplex with Fenced
For Sale
$399,000
216 & 218 E Cherry St, Sherman, TX 75090
Two-story residences feature stainless appliances, open living areas, and private fenced outdoor space.
Property Size3,288 SF
Price / SF$121.35
Days on Market195
Property Features for 216 & 218 E Cherry St
General Information
Standard status
Active
Size
3,288 SF
Property subtype
Multi-Family
Units
Unit Mix
2 x 3BR/2BA
Multifamily Units
2
Amenities
fenced backyard
stainless steel appliances
Building Details
Year Built
2018
Buildings
1
Stories
2
Listing Agency:
eXp Realty LLC
Listed By:
Cory Meals · License #0636222
(888) 519-7431
Source:
Findtexashomesforsale
Added: Mar 27
Changed: Oct 1
Last Checked: Oct 7 at 12:39PM
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
Investment Insights
Based on property information with market context.
Located at 216 & 218 E Cherry St in Sherman, this 2018-built duplex contains two two-story residences totaling 3,288 square feet. Each unit measures 1,644 square feet and includes three bedrooms, two full bathrooms, open living areas, and a kitchen equipped with stainless steel appliances.
Each residence also has a fenced backyard, providing dedicated outdoor space. The property is minutes from downtown Sherman and near dining, amenities, and local development. Its two-unit configuration supports separate residential occupancy within one property.
Each residence also has a fenced backyard, providing dedicated outdoor space. The property is minutes from downtown Sherman and near dining, amenities, and local development. Its two-unit configuration supports separate residential occupancy within one property.
Key Highlights
- Two‑unit duplex with 3,288 square feet total
- Each unit offers 1,644 square feet, 3 bedrooms, and 2 full bathrooms
- Two‑story layout in both residences
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$25,205
Cap Rate
6.32%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$504,100
$504.1K
Cap Rate 7%
$360,071
$360.1K
Cap Rate 9%
$280,056
$280.1K
Market Conditions
NOI Build-Up for 3,288 SF
Gross rent
$40.6K $12.36/SF
− Vacancy
−$4.6K −$1.41/SF
EGI
$36.0K $10.95/SF
− OpEx
−$10.8K −$3.29/SF
NOI
$25.2K $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%
$504,100
Cap Rate 7%
$360,071
Cap Rate 9%
$280,056
Alternative Uses
Best Use
Multifamily LT 5
$360.1K
$315.1K – $420.1K
NOI $25,205 @ 7.0% cap · market cap 6.32%
Second Best
Apartment 5plus
$319.2K
$279.3K – $372.4K
NOI $22,343 @ 7.0% cap · market cap 5.60%
Theoretical Best
Hotel Hospitality
$1.69M
$1.48M – $1.97M
NOI $118,072 @ 7.0% cap · market cap 29.59%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,135
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
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-story residences feature stainless appliances, open living areas, and private fenced outdoor space.
Where is this duplex located?
The property is located at 216 & 218 E Cherry St Sherman, TX.
What is the asking price?
The asking price for this property is $399,000.
What are key features of this property?
This property features: Two‑unit duplex with 3,288 square feet total; Each unit offers 1,644 square feet, 3 bedrooms, and 2 full bathrooms; Two‑story layout in both residences
