$249,000
$30K PRICE DROP

1503 E Wells Ave Unit 2 Sherman, TX 75090

Estimated payment $1,601/month

Total Views 3,301
5 Beds
2 Baths
1,469 Sq Ft
$170 Price per Sq Ft

Highlights

  • Converted Garage
  • 1-Story Property
  • Central Heating and Cooling System
  • Walk-In Closet
  • Luxury Vinyl Plank Tile Flooring
  • 4-minute walk to Cherry Street Park

About This Home

Great income producing duplex: 1501 and 1503 E Wells Ave, Sherman, TX 75090. Both units have been remodeled and are either rented or move in ready. 1503 rear unit has a garage conversion completed with washer and dryer hook ups. 1501 is driveway parking, and 1503 has driveway parking plus a detached garage.

An adjoining duplex that shares the driveway space is also for sale: 1505 and 1507 E Wells Ave, Sherman, TX 75090 under MLS number 21010174.

Listing Agent

Robert Genera

United Real Estate Brokerage Phone: 972-974-0956 License #0631641 Listed on: 07/23/2025

United Real Estate

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $3,578

Year Built

  • Built in 1956

Lot Details

  • 9,017 Sq Ft Lot
  • Wood Fence

Parking

  • 1 Car Garage
  • Converted Garage
  • Lighted Parking
  • Front Facing Garage
  • Shared Driveway
  • Additional Parking
  • Outside Parking
  • Off-Street Parking
  • Secure Parking

Home Design

  • Duplex
  • Brick Exterior Construction
  • Slab Foundation
  • Composition Roof

Interior Spaces

  • 1-Story Property
  • Ceiling Fan
  • Luxury Vinyl Plank Tile Flooring

Kitchen

  • Electric Range
  • Dishwasher
  • Disposal

Bedrooms and Bathrooms

  • 5 Bedrooms
  • Walk-In Closet
  • 2 Full Bathrooms

Schools

  • Crutchfield Elementary School
  • Sherman High School

Utilities

  • Central Heating and Cooling System
  • Electric Water Heater
  • High Speed Internet
  • Cable TV Available

Listing and Financial Details

  • Legal Lot and Block 2 / 3
  • Assessor Parcel Number 164751

Community Details

Overview

  • 2 Units
  • 1,469 Sq Ft Building
  • Linnstead J C Add Subdivision

Building Details

  • Gross Income $29,940
  • Net Operating Income $25,940

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$3,578

Year Built

Built in 1956

Lot Details

0

Parking

1

Listing Details

  • OWNERNAME: Gary Feldman
  • Property Type: Residential Income
  • Property Sub Type: Duplex
  • Unit Levels: One
  • Year Built Details: Preowned
  • Attribution Contact: 972-974-0956
  • CapRate: 10.42
  • Co List Office Mls Id: UREN01
  • Special Features: VirtualTour
  • Year Built: 1956

Interior Features

  • Interior Amenities: High Speed Internet, Cable TV, Walk-In Closet(s)
  • Flooring: Luxury Vinyl Plank
  • Appliances: Dishwasher, Electric Range, Electric Water Heater, Disposal

Beds/Baths

  • Full Bathrooms: 2
  • Total Bedrooms: 5

Exterior Features

  • Foundation: Slab
  • Fencing: Wood
  • Roof: Composition
  • Construction Materials: Brick
  • Pool Features: None
  • Waterfront: No

Garage/Parking

  • Cooling System: Central Air, Ceiling Fan(s), Electric
  • Garage Spaces: 1.0
  • Total Covered Spaces: 1.0
  • Parking Features: Additional Parking, Converted Garage, Garage Faces Front, Garage, Lighted, Off Street, Outside, Shared Driveway, Secured
  • Attached Garage YN: No
  • GarageYN: Yes

Utilities

  • Sewer: Public Sewer
  • Heating: Central, Electric
  • Utilities: Electricity Available, Electricity Connected, Sewer Available, Separate Meters, Water Available, Cable Available
  • Heating Yn: Yes

Schools

  • Elementary School: Crutchfield
  • High School: Sherman
  • Junior High Dist: Sherman ISD

Lot Info

  • Lot Size Units: Acres
  • Lot Size Area: 0.207
  • Parcel Number: 164751
  • Lot Size Acres: 0.207
  • Lot Size Sq Ft: 9016.92

Building Info

  • Year Built: 1956
  • Units Total: 2

Multi Family

  • Insurance Expense: 1200.0
  • Annual Gross Income: 29940.0
  • Property Net Operating Income: 25940.0

Tax Info

  • TaxBlock: 3
  • Tax Lot: 2
  • Tax Annual Amount: 3578.0

MLS Schools

  • MiddleOrJuniorSchool: Sherman

Map

Range of Values:

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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Tax History

Year Tax Paid Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. Land Improvement
2025 $3,578 $160,825 $60,750 $100,075
2024 $3,578 $163,134 $53,100 $110,034
2023 $3,661 $166,736 $50,562 $116,174
2022 $2,780 $118,640 $0 $0
2021 $2,493 $108,536 $24,120 $84,416
2020 $1,999 $85,693 $15,120 $70,573
2019 $1,858 $78,168 $10,170 $67,998
2018 $1,566 $70,851 $7,470 $63,381
2017 $1,349 $58,968 $3,060 $55,908
2016 $1,169 $47,583 $3,060 $44,523
2015 $0 $43,889 $4,020 $39,869
2014 -- $43,889 $4,020 $39,869
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
09/28/2025 09/28/25 Price Changed $249,000 -7.4% $170 / Sq Ft
08/28/2025 08/28/25 Price Changed $269,000 -3.6% $183 / Sq Ft
07/23/2025 07/23/25 For Sale $279,000 -- $190 / Sq Ft
Source: North Texas Real Estate Information Systems (NTREIS)

Purchase History

Date Type Sale Price Title Company
Warranty Deed -- None Listed On Document
Interfamily Deed Transfer -- None Available
Vendors Lien -- None Available
Foreclosure Deed $35,000 None Available
Vendors Lien -- --
Source: Public Records

Mortgage History

Date Status Loan Amount Loan Type
Previous Owner $43,500 Assumption
Closed $0 Seller Take Back
Source: Public Records

Source: North Texas Real Estate Information Systems (NTREIS)

MLS Number: 21010131

North Texas Real Estate Information Systems (NTREIS)

APN: 164751

Texas Grayson County Sherman 75090

1503 E Wells Ave Unit 2, Sherman, TX

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Listing Agent
Robert Genera
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United Real Estate
(430) 204-3501