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    Meticulously Maintained Sherman Duplex Title is generated by Realmo AI

    2413 N Lockhart Street, Sherman, TX 75092

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    For Sale
    $299,900

    Duplex - Sherman, TX

    Type:Duplex
    Lot size:
    0.15 Acres
    Added:
    May 27, 2026
    Days on Market:
    5
    Last Refresh:
    May 31 at 12:06 pm

    Property Features for 2413 N Lockhart Street

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Duplex
    Bedrooms
    4
    Bathrooms
    2
    Rooms
    Bathroom 1, Bathroom 2, Bedroom 1, Bedroom 2, Bedroom 3, Bedroom 4
    Parking
    4
    Parking features
    Garage
    Interior features
    Cable Tv Available, Decorative Lighting, Eat-in Kitchen, High Speed Internet Available
    Exterior features
    Storage, Fence
    Fencing
    Fenced
    Appliances
    Dishwasher, Garbage Disposer, Range, Washer
    Standard status
    Active
    APN
    156184
    Lot size
    0.15 Acres

    Utilities

    Utilities
    Cable Available
    Heating system
    Central, Electric (Heating)
    Cooling system
    Ceiling Fan(s), Central Air

    Building Details

    Year built
    1966
    Floors in Building
    1
    Flooring type
    Laminate, Tile, Tile - Ceramic
    Building materials
    Brick
    Roof type
    Composition
    Architectural style
    Other
    Additional Structures
    Storage

    We can help!

    Listing Contact
    Robin Atherton

    Listing agent Robin Atherton License #0535305

    Listing office Keller Williams North Country 1212 S Preston rd, Celina, TX

    Listing date May 27, 2026

    MLS# 21244815 Listing URL

    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.

    HighLights

    • Full duplex ideal for multi‑generational living or rental income.
    • Recent upgrades including roof (2023) and sewer lines (2025), plus electrical panels (2020) and Carrier heat pumps with warranty.
    • Updated interiors feature fresh paint, new countertops, sinks, laminate flooring with moisture barrier, and ceramic tile.
    • Excellent location near Fairview Elementary School and Fairview Park.
    • Hail‑resistant Class IV roof (installed June 2023).
    • Meticulously maintained by the same owner for 37 years.

    Overview

    Located on a quiet street among single-family homes, this meticulously maintained duplex includes two units, each featuring two bedrooms, one bath, and a one-car garage. The property is suited for multi-generational living or for an owner to live in one unit and rent the other. Interior and exterior have been freshly painted. Electrical panels on both sides were updated in 2020. Countertops, kitchen sinks, laminate floating floors with an underlay moisture barrier, and ceramic tile on walls and floors in kitchens and baths have been updated. Ceiling fans and light fixtures were updated in 2025. There is no carpet. Sewer lines on both sides have been replaced between the street and under the home in 2025. New Carrier heat pumps with the latest Freon are installed in both units and are still under warranty. The roof was replaced in June 2023 with a Class IV hail-resistant roof, and gutters were also replaced at that time. A 10 by 16 storage building is located behind 2415. The property is near Fairview Elementary School and Fairview Park, which offers playgrounds, a pool, tennis courts, and soccer and baseball fields. The property allows for long-term steady rental income and property value appreciation.
    Property Profile Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

    Law Firm Real Estate Agency Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Daycare Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Sherman
    County
    Grayson
    State
    Texas
    Longitude
    -96.623258
    Latitude
    33.658953

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    FAQs

    What type of property is this?
    Duplex - Well-maintained duplex ideal for multi-generational living or rental income.
    Where is this duplex located?
    The property is located at 2413 N Lockhart Street Sherman, TX.
    What is the asking price?
    The asking price for this property is $299,900.
    What are key features of this property?
    This property features: Full duplex ideal for multi‑generational living or rental income.; Recent upgrades including **roof (2023)** and **sewer lines (2025)**, plus electrical panels (2020) and Carrier heat pumps with warranty.; Updated interiors feature fresh paint, new countertops, sinks, laminate flooring with moisture barrier, and ceramic tile.
    (972) 382-8882
    We can help!
    Listing Contact
    Robin Atherton
    Real Estate License ID: 0535305
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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