Two-Unit Duplex with Attached
New
For Sale
$379,900
615-617 E Carter Street, Sherman, TX 75090
Each residence combines an open living area with private outdoor space and a separate garage.
Property Size2,476 SF
Price / SF$153.43
Days on Market7
Property Features for 615-617 E Carter Street
General Information
Standard status
Active
Size
2,476 SF
Total Parking Spaces
2
Property subtype
Residential Income
Units
Unit Mix
2 x 3BR/2BA
Multifamily Units
2
Additional Details
Tenant in Place
Yes
Amenities
Cable TV Available
Decorative Lighting
High Speed Internet Available
Building Details
Building Size
2,476 SF
Year Built
2018
Buildings
1
Stories
1
Units
2
Listing Agency:
Drake Copeland Realty
Listed By:
Juli Drake · License #0583411
(214) 587-6356
Source:
Drakecopelandrealty
Added: Oct 23
Changed: Oct 25
Last Checked: Oct 26 at 3:34AM
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 Drake Copeland Realty
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
Built in 2018, this Sherman duplex contains two residences, each with three bedrooms, two full bathrooms and approximately 1,250 square feet. Both units have open living, dining and kitchen areas, granite counters, stainless steel appliances and flooring in the main living spaces. Each also includes an attached garage, a fenced backyard and patio space.
One unit is leased and the other is vacant, offering a choice of occupancy or leasing arrangements. The property is located at 615-617 E Carter Street in Sherman, Texas, and has a total reported building size of 2,476 square feet.
One unit is leased and the other is vacant, offering a choice of occupancy or leasing arrangements. The property is located at 615-617 E Carter Street in Sherman, Texas, and has a total reported building size of 2,476 square feet.
Key Highlights
- Two‑unit duplex built in 2018
- Each unit has 3 bedrooms, 2 full bathrooms and approximately 1,250 square feet
- Total reported building size: 2,476 square feet
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$18,980
Cap Rate
5.00%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$379,600
$379.6K
Cap Rate 7%
$271,143
$271.1K
Cap Rate 9%
$210,889
$210.9K
Market Conditions
NOI Build-Up for 2,476 SF
Gross rent
$30.6K $12.36/SF
− Vacancy
−$3.5K −$1.41/SF
EGI
$27.1K $10.95/SF
− OpEx
−$8.1K −$3.29/SF
NOI
$19.0K $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%
$379,600
Cap Rate 7%
$271,143
Cap Rate 9%
$210,889
Alternative Uses
Best Use
Multifamily LT 5
$271.1K
$237.3K – $316.3K
NOI $18,980 @ 7.0% cap · market cap 5.00%
Second Best
Apartment 5plus
$240.4K
$210.3K – $280.4K
NOI $16,825 @ 7.0% cap · market cap 4.43%
Theoretical Best
Hotel Hospitality
$1.27M
$1.11M – $1.48M
NOI $88,913 @ 7.0% cap · market cap 23.40%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,176
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
Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Each residence combines an open living area with private outdoor space and a separate garage.
Where is this duplex located?
The property is located at 615-617 E Carter Street Sherman, TX.
What is the asking price?
The asking price for this property is $379,900.
What are key features of this property?
This property features: Two‑unit duplex built in 2018; Each unit has 3 bedrooms, 2 full bathrooms and approximately 1,250 square feet; Total reported building size: 2,476 square feet
