$490,000

502 Texas 11 Unit 502 Tom Bean, TX 75491

Estimated payment $3,133/month

Total Views 3,230
6 Beds
4 Baths
2,376 Sq Ft
$206 Price per Sq Ft

Highlights

  • Open Floorplan
  • Deck
  • 1 Car Attached Garage
  • Tom Bean Elementary School Rated A-
  • Covered Patio or Porch
  • Eat-In Kitchen

About This Home

ATTENTION INVESTORS!!! Two Separate Homes OR Four Together!
These 3 bedrooms and 2 bath homes have long term tenants that expect to stay and have kept the homes in good condition by letting owners know of any issues. The curved drive through driveway to all units offers extra parking for guests or the extra cars tenants use. Conveniently located just on Hwy 11, these homes can be in Sherman, Bonham, Whitewright or McKinney within easy commutes. Good investment for the buyer that wants income properties.500-502 are sold together and 504-506 may also be purchased together or in a separate package deal.

Listing Agent

DONNA WOODRUFF

Weichert Realtors-Solid Ground Brokerage Phone: 903-583-4900 License #0483138 Listed on: 08/18/2025

Weichert Realtors-Solid Ground

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $6,656

Year Built

  • Built in 1998

Lot Details

  • 8,712 Sq Ft Lot
  • Private Entrance

Parking

  • 1 Car Attached Garage
  • Front Facing Garage

Home Design

  • Slab Foundation
  • Composition Roof
  • Board and Batten Siding

Interior Spaces

  • 2-Story Property
  • Open Floorplan

Kitchen

  • Eat-In Kitchen
  • Electric Range
  • Dishwasher

Flooring

  • Carpet
  • Ceramic Tile

Bedrooms and Bathrooms

  • 6 Bedrooms
  • 4 Full Bathrooms

Outdoor Features

  • Deck
  • Covered Patio or Porch

Schools

  • Tom Bean Elementary School
  • Tom Bean High School

Utilities

  • Central Heating and Cooling System
  • Electric Water Heater

Listing and Financial Details

  • Assessor Parcel Number 153002

Community Details

Overview

  • 2 Buildings
  • 2 Units
  • 2,376 Sq Ft Building
  • Bartlett Subdivision

Building Details

  • Gross Income $28,200
  • Net Operating Income $2,300

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$6,656

Year Built

Built in 1998

Lot Details

0

Parking

1

Listing Details

  • OWNERNAME: Outlook RE
  • Property Type: Residential Income
  • Unit Levels: Two
  • Year Built Details: Preowned
  • Attribution Contact: 903-583-4900
  • CapRate: 0.47
  • Co List Office Mls Id: SOLI00TO
  • HumanModifiedYN: No
  • UniversalParcelId: urn:reso:upi:2.0:US:48181:153002
  • Special Features: None
  • Property Sub Type: MultiFamily
  • Year Built: 1998

Interior Features

  • Interior Amenities: Eat-in Kitchen, Open Floorplan
  • Flooring: Carpet, Combination, Ceramic Tile
  • Appliances: Dishwasher, Electric Range, Electric Water Heater

Beds/Baths

  • Full Bathrooms: 4
  • Total Bedrooms: 6

Exterior Features

  • Foundation: Slab
  • Roof: Composition
  • Construction Materials: Board & Batten Siding
  • Exterior Features: Deck, Private Entrance
  • Pool Features: None
  • Waterfront: No
  • Patio And Porch Features: Covered, Deck

Garage/Parking

  • Cooling System: Central Air, Electric
  • Garage Spaces: 1.0
  • Parking Features: Garage Faces Front, Garage
  • Attached Garage YN: Yes
  • GarageYN: Yes

Utilities

  • Sewer: Public Sewer
  • Heating: Central, Electric
  • Utilities: Sewer Available, Water Available
  • Heating Yn: Yes

Schools

  • Elementary School: Tom Bean
  • High School: Tom Bean
  • Junior High Dist: Tom Bean ISD

Lot Info

  • Lot Size Units: Acres
  • Lot Size Area: 0.2
  • Parcel Number: 153002
  • Lot Size Acres: 0.2
  • Lot Size Sq Ft: 8712.0

Building Info

  • Year Built: 1998
  • Units Total: 2

Multi Family

  • Insurance Expense: 2600.0
  • Annual Gross Income: 28200.0
  • Property Net Operating Income: 2300.0

Tax Info

  • Tax Annual Amount: 6656.0

MLS Schools

  • MiddleOrJuniorSchool: Tom Bean

Map

Range of Values:

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Value Increase
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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 $6,656 $328,059 $50,007 $278,052
2024 $6,656 $342,218 $55,670 $286,548
2023 $5,934 $316,083 $44,431 $271,652
2022 $5,282 $259,117 $15,682 $243,435
2021 $5,249 $233,036 $13,068 $219,968
2020 $5,479 $227,116 $13,068 $214,048
2019 $5,139 $207,495 $7,579 $199,916
2018 $5,089 $203,644 $5,672 $197,972
2017 $4,155 $163,514 $5,672 $157,842
2016 $4,273 $168,127 $5,672 $162,455
2015 $0 $124,808 $5,672 $119,136
2014 -- $120,902 $5,672 $115,230
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
08/18/2025 08/18/25 For Sale $490,000 -- $206 / Sq Ft
Source: North Texas Real Estate Information Systems (NTREIS)

Source: North Texas Real Estate Information Systems (NTREIS)

MLS Number: 21035308

North Texas Real Estate Information Systems (NTREIS)

APN: 153002

Texas Grayson County Tom Bean 75491

502 Texas 11 Unit 502, Tom Bean, TX

For Sale

MultiFamily

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DONNA WOODRUFF
Listing Agent
DONNA WOODRUFF
Section Image
Weichert Realtors-Solid Ground
(430) 209-3126