Turn-Key Rental Property Near Austin
For Sale
$449,000
514 E Brockett St 516, Sherman, TX 75090
Leased 4-bedroom property with ensuite baths, ideal for investors.
Property Size3,442 SF
Lot Size0.28 Acres
Days on Market335
Property Features for 514 E Brockett St 516
General Information
Standard status
Active
Size
3,442 SF
Lot size
0.28 Acres
Property subtype
Other
Building Details
Building Size
3,442 SF
Year Built
2007
Units
2
Listing Agency:
EBBY HALLIDAY, REALTORS
Listed By:
Cherrel Lewis · License #0554462
(903) 718-0472
Source:
Elliman
Added: Nov 28, 2025
Changed: Aug 8
Last Checked: Sep 26 at 9:04AM
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 EBBY HALLIDAY, REALTORS
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This turn-key rental property is 100% leased and features four bedrooms, each with an ensuite bathroom. Each side of the property includes all kitchen appliances, including a refrigerator, washer, and dryer. The bedrooms are furnished with a single bed, desk, and closet. The living room includes furniture and a large screen TV, and there is a kitchen table with four chairs. Three bedrooms and three bathrooms are located upstairs, while one bedroom and one bathroom are downstairs, all with ensuite full bathrooms. The bedrooms on the second floor are approximately 115-120 square feet, and the bedroom on the first floor is approximately 150-175 square feet. Each bedroom and the living room have ceiling fans. Located approximately one mile from Austin College, it is about 5 minutes away and close to Hwy 75. The property is suitable for student housing, Airbnb, corporate use, or as a personal family residence.
Key Highlights
- 100% Leased - Turn‑key Rental Investment
- 4 Bedrooms with 4 Ensuite Bathrooms**
- Fully Furnished** - Includes all appliances, furniture, and TV
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$23,390
Cap Rate
5.21%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$467,800
$467.8K
Cap Rate 7%
$334,143
$334.1K
Cap Rate 9%
$259,889
$259.9K
Market Conditions
NOI Build-Up for 3,442 SF
Gross rent
$48.3K $14.04/SF
− Vacancy
−$5.8K −$1.68/SF
EGI
$42.5K $12.36/SF
− OpEx
−$19.1K −$5.56/SF
NOI
$23.4K $6.80/SF
Area
Grayson County, TX
Vacancy
12.00%
Lease Rate
$14.04 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$467,800
Cap Rate 7%
$334,143
Cap Rate 9%
$259,889
Alternative Uses
Best Use
Apartment 5plus
$334.1K
$292.4K – $389.8K
NOI $23,390 @ 7.0% cap · market cap 5.21%
Second Best
—
—
no second resolved use
Theoretical Best
Hotel Hospitality
$1.77M
$1.55M – $2.06M
NOI $123,602 @ 7.0% cap · market cap 27.53%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Location Intelligence
Trade Area within ½ mile
1,179
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
Frequently Asked Questions
What type of property is this?
Multifamily property - Leased 4-bedroom property with ensuite baths, ideal for investors.
Where is this multifamily property located?
The property is located at 514 E Brockett St 516 Sherman, TX.
What is the asking price?
The asking price for this property is $449,000.
What are key features of this property?
This property features: 100% Leased - Turn‑key Rental Investment; 4 Bedrooms with 4 Ensuite Bathrooms**; Fully Furnished** - Includes all appliances, furniture, and TV
