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Owner Contacts

$262,000

NAL Estimated Property Value

616 Madison Pl, Sherman, TX, 75092

Off Market

3 Beds

2 Bath

1,330 Sq Ft

$206.77 / sqft

Built in 2000

Property Lead Type:

Off-Market ListAbsentee OwnerHigh EquityMove-In Ready

Highlights

Interior

Bedrooms 3

Bathrooms Full 2

Garage Available

AppliancesDishwasher, Electric Range, Disposal, Gas Water Heater

FlooringSimulated Wood

Exterior

Exterior FeaturesRain Gutters

Lot Size6,098 sqft

Building Information

Year Built2000

Garage Spaces2

Land Information

APN154A6868018

Lot Number18

SubdivisionWashington Place Addn

Land UseResidential

Legal DescriptionWASHINGTON PLACE ADDN, BLOCK 1, LOT 18, ACRES .14

Census Tract001101

Assessed Land Value$44,762

Assessed Improvement Value$196,551

Assessment Year2024

About this property

OPEN HOUSE SUNDAY 10-1-23. NOON to 2:00 PM. This attractive home is nestled in a quiet cul-de-sac. Featuring Sappy Walnut Bella Prem engineered hardwood flooring, this property boasts a fresh and attractive look. The interior has been thoughtfully updated over the years. As the temperature drops, the living room beckons with its cozy gas log fireplace, the perfect spot to snuggle up with a blanket. The master suite offers the luxury of stepping directly onto the patio, while one of the bedrooms features French doors, serving as an ideal study or versatile space. The backyard has the potential to transform into a charming English garden. A covered patio expands your living space, ideal for hosting gatherings. Front and back yards are equipped with a sprinkler system. All information provided is deemed reliable, but is not guaranteed and should be independently verified. Refrigerator, washer and dryer convey with sale. Agents, please read private remarks for closing date instructions.

Investor Tools

$262,000

Estimated Property Value

$0Estimated Mortgage Balance

$262,000Estimated Equity

100% equity

Estimated Cap Rate

View Rate

Estimated ARV (After-Repair Value)

Calculate ARV

Rent-to-Value Ratio: 0.72%

Rent Estimate

$1,650 /month

Positive

Cash Flow Estimate:

$550 /month

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Financing Details

Estimated Taxes & Insurance

HOA Fees

Interest Rate Assumption

$533/month

No HOA

5.947%

Tax Information

Annual Taxes

Assessed Value

Assessment Year

Assessed Land

Assessed Improvement

Market Value

Tax Delinquent

$5,088

$241,313

2024

$44,762

$196,551

$241,313

Tax History

Year

Tax Paid

Assessed Value

2023

$5,088

$241,313

Equity Summary

Est. Mortgage Balance

Est. Equity

Equity %

LTV

Est. Monthly Payment

N/A

$262,000

100%

$0/mo

Learn About the Market: Opportunity in Texas

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Texas

Living in Texas means access to four of the nation’s most dynamic metro economies — Dallas–Fort Worth’s corporate and logistics powerhouse, Houston’s global energy and medical hub, Austin’s tech-driven and culturally iconic Live Music Capital of the World, and San Antonio’s historic yet steadily expanding military and healthcare center. The state blends economic scale with cultural significance, rooted in independence, entrepreneurship, and a strong sense of place — from Friday night football to world-renowned barbecue and music festivals. For homebuyers, Texas offers comparatively attainable housing, no personal income tax, and master-planned communities built around space and convenience; for investors, continued population growth, business relocation, and diversified industries create sustained demand across urban cores, suburbs, and emerging secondary markets.

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