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1503 Wells Avenue

Sherman, TX 75090

$229,900

2 units · 1956

Units2
Building area1,469 sq ft
Year built1956
Gross income$24,000/yr
Cap rate8.51% as listed
Parking2 spaces
Lot size0.207 acres
TypeDuplex

What it costs to own

Taxes$3,527 per year
HOANone listed
Operating expenses$3,227.89 per year — as listed
Insurance$1,200 per year — as listed
Net operating income$19,572 per year — as listed

Taxes shown reflect the current owner's exemptions and may change after purchase.

About this home

Great income producing duplex: 1501 and 1503 E Wells Ave, Sherman, TX 75090. Both units have been remodeled and are rented with 1-year leases for $995 each. 1501 is driveway parking, and 1503 has driveway parking plus a detached garage. 1503 rear unit has a garage conversion completed with washer and dryer hook ups. This is a turnkey, ready to go investment property. All remodeled and leased, and no deferred maintenance.

The details

HeatingCentral, Electric
CoolingCeiling Fan(s), Central Air, Electric, Roof Turbine(s)
FlooringLuxury Vinyl Plank
AppliancesDishwasher, Disposal, Electric Range
Interior featuresHigh Speed Internet Available, Open Floorplan

Construction materialsBrick, Wood
RoofComposition
FoundationSlab

Water sourceCity Water, Individual Water Meter
SewerCity Sewer
ElectricElectricity Available, Electricity Connected
UtilitiesCable Available, Underground Utilities

SubdivisionLinnstead J C Add

ElementaryCrutchfield
Middle schoolSherman
High schoolSherman
DistrictSherman ISD

Gross income$24,000 per year
Operating expenses$3,227.89 per year
Operating includesInsurance
Insurance$1,200 per year
Cap rate8.51% — as listed
Net operating income$19,572 per year

MLS #21284490
Source
On the market1 day
CountyGrayson

Around this home

One moment…

Everyday life

Nearest groceryKroger · 1.8 mi
Nearest parkHawn Park · 0.2 mi

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Listing courtesy of United Real Estate — Robert Genera.

Where it is

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Robert LewisStephen LewisRobert & StephenInk Realty Group

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Listing data provided by the North Texas Real Estate Information Systems (NTREIS). MLS #21284490. Information last updated May 29, 2026.

Based on information submitted to the MLS as of the date above. All data is obtained from various sources and may not have been verified by the broker or NTREIS. Supplied data is for the viewer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties the viewer may be interested in purchasing.

Ink Realty Group is brokered by eXp Realty.

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