Full Duplex Investment
216 & 218 E Cherry Street Sherman, TX 75090
For Sale
$412,500
MULTI_FAMILY - Sherman, TX
Property Size3,288 SF
Lot Size0.16 Acres
Price / SF$125.46
Days on Market8
Property Features for 216 & 218 E Cherry Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Duplex
- Bedrooms
- 6
- Bathrooms
- 4
- Rooms
- Bathroom 1, Bedroom 3, Bedroom 4, Bedroom 2, Bedroom 6, Bedroom 1, Bedroom 5, Bathroom 3, Bathroom 4, Bathroom 2
- Parking
- 6
- Parking features
- Open, Off Street
- Interior features
- OpenFloorplan, Pantry, WalkInClosets
- Appliances
- Dishwasher, ElectricRange, Microwave
- Standard status
- Active
- APN
- 163271
- Lot size
- 0.16 Acres
Taxes and HOA fees
- Tax Description
- G-0056 BLAGG SAMUEL A-G0056, ACRES .1616, 65X
- Tax Annual Amount
- 9764
Utilities
- Sewer type
- Public Sewer
- Heating system
- Heat Pump (Heating)
- Cooling system
- Electric, Central Air, Ceiling Fan(s)
- Water source
- Public
Building Details
- Year built
- 2018
- Floors in Building
- 2
- Number of units
- 2
- Flooring type
- Vinyl, Tile
- Building materials
- Brick
- Roof type
- Composition
Listing Agency:
eXp Realty LLC
(888) 519-7431
Listed By:
Cory Meals · License #0636222
(888) 519-7431
Added: Jul 17
Changed: Jul 21
Last Checked: Jul 24 at 12:06PM
MLS# 21227278
Copyright © 2026 North Texas Real Estate Information Systems, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
216 & 218 E Cherry Street is a full duplex with two spacious two-story residences under one ownership. Each side offers 1,644 square feet of living space, with three bedrooms and two full bathrooms. The interior layout is designed for day-to-day comfort, featuring open living areas and well-equipped kitchens that include stainless steel appliances. With bedrooms arranged for livability across a two-story plan, each unit provides separation of space that many tenants prefer. Outside, both units include their own fenced backyards, offering private outdoor space for everyday use, entertaining, or pet-friendly living.
The property is located just minutes from the growing downtown Sherman area, placing it within reach of local amenities, dining, and ongoing development. This positioning can support steady demand from tenants looking for convenient access to where the area is expanding.
This duplex is well-suited to investors seeking a performing residential income asset, as well as owner-occupants who want the flexibility to live in one unit while leasing the other. The combination of functional interior layouts and private outdoor space per unit can help support long-term tenancy and rental stability.
The property is located just minutes from the growing downtown Sherman area, placing it within reach of local amenities, dining, and ongoing development. This positioning can support steady demand from tenants looking for convenient access to where the area is expanding.
This duplex is well-suited to investors seeking a performing residential income asset, as well as owner-occupants who want the flexibility to live in one unit while leasing the other. The combination of functional interior layouts and private outdoor space per unit can help support long-term tenancy and rental stability.
Key Highlights
- Full duplex with two 2‑story units at 216 & 218 Cherry St
- Each unit offers 1,644 SF with 3 bedrooms and 2 full bathrooms
- Open floorplans with pantry and walk‑in closets in both units
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $40.6k | $12.36 |
| − Vacancy | −$4.6k | −$1.41 |
| EGI | $36.0k | $10.95 |
| − OpEx | −$10.8k | −$3.29 |
| NOI | $25.2k | $7.67 |
3,288 SF · lease $12.36/SF/yr · vacancy 11.40% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$360.1K
$315.1K – $420.1K
NOI $25,205 @ 7.0% cap · market cap 6.11%
Second Best
Apartment 5plus
$319.2K
$279.3K – $372.4K
NOI $22,343 @ 7.0% cap · market cap 5.42%
Theoretical Best
Hotel Hospitality
$1.69M
$1.48M – $1.97M
NOI $118,072 @ 7.0% cap · market cap 28.62%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Duplexes
FAQs
What type of property is this?
Duplex - Two two-story units with fenced yards provide income flexibility and tenant-friendly privacy.
Where is this duplex located?
The property is located at 216 & 218 E Cherry Street Sherman, TX.
What is the asking price?
The asking price for this property is $412,500.
What are key features of this property?
This property features: Full duplex with two 2‑story units at 216 & 218 Cherry St; Each unit offers 1,644 SF with 3 bedrooms and 2 full bathrooms; Open floorplans with pantry and walk‑in closets in both units
