620 S Charles St · Sherman, TX 75090

$280,000

8 bd · 7.0 ba · 2,830 sqft · MultiFamily · 266 Days on market

Built 1930 Good condition 10,498 sqft lot $99/sqft · 20% below area Est $350k · 20% under

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Why this score? — see what drove the B- grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +25.4/30.0
• ARV discount +15.0/15.0
• DSCR +8.4/10.0
• 1% rule +6.7/10.0
• Condition / age +4.0/5.0
• Livability +3.1/5.0
• Schools +2.9/10.0
• Rent growth +1.8/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 2 units. estimate disagrees with records

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks MLS

100% occupied Duplex in Sherman, Tx! Unit 620 is a 3 bed 2 bath leased through 7-5-26 at $1,325 a month. Unit 622 is a 4 bed 2 bath currently leased at $1175 through 7-14-26. Both units updated! Open-concept living area with plenty of natural light and space! UPDATED Kitchen with white cabinets, granite C-tops, and tile backsplash! Large Primary Bedroom with adjoining on-suite bath featuring tile shower! All bedrooms are a good size. Shared yard and plenty of parking!

Key facts

• Plenty of parking
• Updated kitchen
• 0.24 acre lot

Tags

• OPEN-CONCEPT LIVING AREA
• UPDATED KITCHEN
• PLENTY OF PARKING

What this means for you Summary

Snapshot

• This is a 1×4bd/2.0ba + 1×3bd/2.0ba units multifamily listed at $280k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $644 ($8k/yr) — positive. Per door: $322/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $280k).
• Recommended offer: $246k (12.0% below list) — sets the bar for market timing.
• Cap rate 9.1% vs local median 3.7% in Sherman — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 61/100 on livability (#1,027 in TX) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: crime C-, employment C-, schools D-.
• Sherman ISD (urban): math 31% / reading 37% proficiency, ranked #546 of 826 in TX (top 66%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents soft (-2.7%/yr); 473 active listings in the ZIP; 2,272 units permitted in Grayson County in 2024 (750 in 5+ unit buildings).
• At $3,264/mo this rent would consume 71% of the median local household income ($56k/yr) (locally 840% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k of value loss. Plan a longer hold.
• Grayson County population projected at +12% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• It's been on market 266 days — a 12% lower offer ($246k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 2y ago; this cycle's ask has dropped $60k (18%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1930 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wildfire risk; extreme-heat days projected 7→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $246,400 (12.0% below list)

Questions for the listing agent

1. It's been on market 266 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1930 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
8. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
9. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
10. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.17% ✓
• Cap rate: 9.05%
• Cash-on-cash: 9.85%
• DSCR: 1.44
• GRM: 7.1

CMA / ARV

• ARV (median comp): $350,005
• List price: $280,000
• Delta: -20.00%
• Verdict: UNDERPRICED
• Comps: 11 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1700 E Mulberry St	0.62mi	8/4.0	3,046 (+8%)	23mo	$359,900	$118	27

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -4.9%
• Equity multiple: 0.82×
• Total profit: $-13,901
• Equity at exit: $41,749

10-year hold

• IRR: 0.8%
• Equity multiple: 1.05×
• Total profit: $3,907
• Equity at exit: $24,209

Cash invested: $78,400 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 87 Strongly Landlord-Friendly
• State Texas: 87 Strongly Landlord-Friendly · R+5
• County: — inherits STATE
• City: — inherits STATE

3-day notice; statewide preemption; one of the fastest eviction climates; Travis County (Austin) slightly slower.

Methodology + full state rankings →

ZIP-level market 75090

• Home prices YoY: -20.0%
• Rents YoY: -2.7%
• Active inventory: 473
• Price-to-rent: 13.7×

Monthly cashflow live

• Estimated rent: $3,264 high
• Mortgage (P&I): −$1,468
• Tax est. 1.5%: −$350 /mo · $4,200/yr
• Insurance: −$117
• HOA: −$0
• Vacancy / Maint / Mgmt: −$685
• Net cashflow: $644

Break-even live

Break-even rent $2,449

Max offer price $280,000

Occupancy floor 75%

Sensitivity live

Price	-10% $837	-5% $740	+0% $644	+5% $547	+10% $450
Rent	-10% $386	-5% $515	+0% $644	+5% $772	+10% $901
Rate	-1.0pp $785	-0.5pp $715	base $644	+0.5pp $571	+1.0pp $497

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
1× unit	4	2	$1,702
1× unit	3	2	$1,562
Total (2 units)			$3,264

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $70,000
• Closing costs: $8,400
• Reserves months: —
• Total cash needed: —

Listing history 45 events

1. 2026-06-19
   days on market $280,000 Active 266 DOM
2. 2026-06-18
   days on market $280,000 Active 265 DOM
3. 2026-06-17
   days on market $280,000 Active 264 DOM
4. 2026-06-16
   days on market $280,000 Active 263 DOM
5. 2026-06-15
   days on market $280,000 Active 262 DOM
6. 2026-06-14
   days on market $280,000 Active 260 DOM
7. 2026-06-13
   days on market $280,000 Active 259 DOM
8. 2026-06-10
   days on market $280,000 Active 257 DOM
9. 2026-06-09
   days on market $280,000 Active 256 DOM
10. 2026-06-08
    days on market $280,000 Active 255 DOM
11. 2026-06-07
    days on market $280,000 Active 254 DOM
12. 2026-06-03
    days on market $280,000 Active 250 DOM
13. 2026-06-02
    days on market $280,000 Active 249 DOM
14. 2026-06-01
    days on market $280,000 Active 248 DOM
15. 2026-05-31
    days on market $280,000 Active 247 DOM
16. 2026-05-30
    days on market $280,000 Active 246 DOM
17. 2026-03-18
    price $290,000 472-char remark

    Show marketing remark (472 chars)

    100% occupied Duplex in Sherman, Tx! Unit 620 is a 3 bed 2 bath leased through 7-5-26 at $1,325 a month. Unit 622 is a 4 bed 2 bath currently leased at $1175 through 7-14-26. Both units updated! Open-concept living area with plenty of natural light and space! UPDATED Kitchen with white cabinets, granite C-tops, and tile backsplash! Large Primary Bedroom with adjoining on-suite bath featuring tile shower! All bedrooms are a good size. Shared yard and plenty of parking!

18. 2026-02-21
    price $295,000 472-char remark

    Show marketing remark (472 chars)

    100% occupied Duplex in Sherman, Tx! Unit 620 is a 3 bed 2 bath leased through 7-5-26 at $1,325 a month. Unit 622 is a 4 bed 2 bath currently leased at $1175 through 7-14-26. Both units updated! Open-concept living area with plenty of natural light and space! UPDATED Kitchen with white cabinets, granite C-tops, and tile backsplash! Large Primary Bedroom with adjoining on-suite bath featuring tile shower! All bedrooms are a good size. Shared yard and plenty of parking!

19. 2025-12-24
    price $300,000 472-char remark

    Show marketing remark (472 chars)

    100% occupied Duplex in Sherman, Tx! Unit 620 is a 3 bed 2 bath leased through 7-5-26 at $1,325 a month. Unit 622 is a 4 bed 2 bath currently leased at $1175 through 7-14-26. Both units updated! Open-concept living area with plenty of natural light and space! UPDATED Kitchen with white cabinets, granite C-tops, and tile backsplash! Large Primary Bedroom with adjoining on-suite bath featuring tile shower! All bedrooms are a good size. Shared yard and plenty of parking!

20. 2025-11-11
    price $305,000 472-char remark

    Show marketing remark (472 chars)

    100% occupied Duplex in Sherman, Tx! Unit 620 is a 3 bed 2 bath leased through 7-5-26 at $1,325 a month. Unit 622 is a 4 bed 2 bath currently leased at $1175 through 7-14-26. Both units updated! Open-concept living area with plenty of natural light and space! UPDATED Kitchen with white cabinets, granite C-tops, and tile backsplash! Large Primary Bedroom with adjoining on-suite bath featuring tile shower! All bedrooms are a good size. Shared yard and plenty of parking!

21. 2025-10-31
    price $315,000 472-char remark

    Show marketing remark (472 chars)

    100% occupied Duplex in Sherman, Tx! Unit 620 is a 3 bed 2 bath leased through 7-5-26 at $1,325 a month. Unit 622 is a 4 bed 2 bath currently leased at $1175 through 7-14-26. Both units updated! Open-concept living area with plenty of natural light and space! UPDATED Kitchen with white cabinets, granite C-tops, and tile backsplash! Large Primary Bedroom with adjoining on-suite bath featuring tile shower! All bedrooms are a good size. Shared yard and plenty of parking!

22. 2025-10-13
    price $325,000 472-char remark

    Show marketing remark (472 chars)

    100% occupied Duplex in Sherman, Tx! Unit 620 is a 3 bed 2 bath leased through 7-5-26 at $1,325 a month. Unit 622 is a 4 bed 2 bath currently leased at $1175 through 7-14-26. Both units updated! Open-concept living area with plenty of natural light and space! UPDATED Kitchen with white cabinets, granite C-tops, and tile backsplash! Large Primary Bedroom with adjoining on-suite bath featuring tile shower! All bedrooms are a good size. Shared yard and plenty of parking!

23. 2025-09-26
    listed $340,000 Active 472-char remark

    Show marketing remark (472 chars)

    100% occupied Duplex in Sherman, Tx! Unit 620 is a 3 bed 2 bath leased through 7-5-26 at $1,325 a month. Unit 622 is a 4 bed 2 bath currently leased at $1175 through 7-14-26. Both units updated! Open-concept living area with plenty of natural light and space! UPDATED Kitchen with white cabinets, granite C-tops, and tile backsplash! Large Primary Bedroom with adjoining on-suite bath featuring tile shower! All bedrooms are a good size. Shared yard and plenty of parking!

24. 2025-08-16
    listed $1,375
25. 2025-07-14
    historical $1,099
26. 2025-05-28
    listed $1,099
27. 2024-11-18
    historical
28. 2024-09-18
    listed $318,000 Active
29. 2024-09-17
    historical
30. 2024-08-28
    historical $1,325
31. 2024-08-26
    price $325,000
32. 2024-08-20
    historical $1,325
33. 2024-08-19
    price $330,000
34. 2024-08-10
    price $1,325
35. 2024-08-05
    price $340,000
36. 2024-07-31
    listed $1,495
37. 2024-07-26
    listed $1,495
38. 2024-07-20
    historical $1,350
39. 2024-06-28
    price $1,350
40. 2024-06-27
    price $350,000
41. 2024-06-04
    price $360,000
42. 2024-05-03
    price $1,375
43. 2024-04-24
    listed $370,000 Active
44. 2024-04-23
    price $1,399
45. 2024-03-09
    listed $1,425

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 6/10 Major
• 🌡 Heat 6/10 Major 7 d/yr ≥108°F today · 22 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 22% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $39,168
• − Mortgage interest: −$15,684
• − Property taxes: −$4,200
• − Insurance: −$1,400
• − Repairs & maintenance: −$3,133
• − Management: −$3,133
• − Depreciation: −$8,145
• Taxable income: $3,471
• Est. tax owed @ 24.0%: −$833
• After-tax cash flow: $6,889/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Condition & rehab AI · 12 photos

Good 80/100 Cosmetic rehab

This 100% tenant-occupied duplex in Sherman, TX is in good condition with updated kitchens and bathrooms. It offers a good investment opportunity with potential for further value increases through landscaping and curb appeal improvements.

Value-add opportunities

• Both Landscaping and curb appeal improvements — Enhances curb appeal and could attract more tenants
• Both Painting exterior and interior — Fresh paint can improve the home's appearance and value
• Both Landscaping and curb appeal improvements — Enhances curb appeal and could attract more tenants

Renovation cost estimate screening

Value-add ROI direction

• Both Landscaping and curb appeal improvements — Enhances curb appeal and could attract more tenants ↑
• Both Painting exterior and interior — Fresh paint can improve the home's appearance and value ↑
• Both Landscaping and curb appeal improvements — Enhances curb appeal and could attract more tenants ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Sherman ISD
• NCES district ID: 4840080
• Math proficiency: 31% ▼ -9.00%
• Reading proficiency: 37% ▼ -2.00%
• Median HH income: $42,587
• Composite: 28.79/100
• National rank: #6665
• State rank: #546 of 826 in TX

Livability — Sherman

• Score: 61/100
• State rank: #1027
• US rank: #18243

Category grades

Amenities F Commute F Cost of living A+ Crime C- Employment C- Housing A+ Health & safety F User ratings F

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Sherman, TX
• County: Grayson County · 108,053 people
• City population: 54,936
• Metro: Sherman-Denison, TX
• Population (ZIP): 26,594
• Household income: $55,543
• Rent vs Own: 42.8% rent · 57.2% own
• Severe rent burden: 840.0

Population outlook (Grayson County) Hauer SSP2

• Today (2025): 134,540 people
• By 2030: 138,653 · +3.1%
• By 2040: 145,958 · +8.5%
• By 2050: 151,218 · +12.4%
• By 2075: 161,802 · +20.3%
• By 2100: 159,036 · +18.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.64)
• Race & ethnicity: White 49% Hispanic / Latino 32% Two or more races 17% Black 11%
• Hispanic origin (detail): Mexican 26%
• Common ancestry: Slovak 2% Romanian 2% Lithuanian 1%
• Foreign-born: 15% · Canada
• Languages at home: 73% English-only · Spanish 24% German/W. Germanic 1% Other Indo-European 1%

Political lean MEDSL · Grayson

• 2024 margin: Solid R (+54.3) · D 22.5% · R 76.7%
• 2008→2024 swing: -16.4pp toward R · 2008: -37.9pp · 2024: -54.3pp
• All cycles: 2024: R+54.3 2020: R+49.9 2016: R+53.1 2012: R+48.0 2008: R+37.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -69.00%
• Current HPI: 276.5739
• Rent YoY: ▼ -2.70%
• Metro: Sherman-Denison, TX
• State GDP YoY: ▲ 3.95%
• F500 in state: 110

Industry mix (Fortune 500 HQ in TX)

Industry	F500 HQs	Revenue
▸Energy	16	$1,198B
▸Technology	5	$198B
▸Engineering / Construction	4	$72B
▸Energy Services	3	$60B
▸Utilities	3	$41B
▸Healthcare	2	$330B

Price history

+20250.9% since first listed

29 events — show timeline

• 2026-03-18 Price Changed $290,000 NTREIS
• 2026-02-21 Price Changed $295,000 NTREIS
• 2025-12-24 Price Changed $300,000 NTREIS
• 2025-11-11 Price Changed $305,000 NTREIS
• 2025-10-31 Price Changed $315,000 NTREIS
• 2025-10-13 Price Changed $325,000 NTREIS
• 2025-09-26 Listed $340,000 NTREIS
• 2025-08-16 Listed for Rent $1,375 SHOWMOJO
• 2025-07-14 Rental Removed $1,099 SHOWMOJO
• 2025-05-28 Listed for Rent $1,099 SHOWMOJO
• 2024-11-18 Listing Removed — NTREIS
• 2024-09-18 Listed $318,000 NTREIS
• 2024-09-17 Listing Removed — NTREIS
• 2024-08-28 Rental Removed $1,325 BUILDIUM
• 2024-08-26 Price Changed $325,000 NTREIS
• 2024-08-20 Rental Removed $1,325 SHOWMOJO
• 2024-08-19 Price Changed $330,000 NTREIS
• 2024-08-10 Price Changed $1,325 BUILDIUM
• 2024-08-05 Price Changed $340,000 NTREIS
• 2024-07-31 Listed for Rent $1,495 BUILDIUM
• 2024-07-26 Listed for Rent $1,495 SHOWMOJO
• 2024-07-20 Rental Removed $1,350 BUILDIUM
• 2024-06-28 Price Changed $1,350 BUILDIUM
• 2024-06-27 Price Changed $350,000 NTREIS
• 2024-06-04 Price Changed $360,000 NTREIS
• 2024-05-03 Price Changed $1,375 BUILDIUM
• 2024-04-24 Listed $370,000 NTREIS
• 2024-04-23 Price Changed $1,399 BUILDIUM
• 2024-03-09 Listed for Rent $1,425 BUILDIUM