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Property at 6370 FM 697

6370 FM 697, Sherman, TX 75090

4 Beds
3 Baths
2,290 sqft
1.46 Acres
Built 1980

Property Features

  • Above-ground pool
  • Chicken coop
  • Two large shipping containers
  • Detached office
  • Full-size washer and dryer
  • Refrigerator
  • 4-car garage
  • Two full paved driveways

Key Investment Highlights

THE ULTIMATE ASSET - 1.46 PRIVATE ACRES

A massive, private lot offering unrivaled space for future expansion, a workshop, or even a new build. Land like this is a solid long-term investment.

VALUE-ADD OPPORTUNITY

The home is a 4 bed, 3 bath property where the 4th bedroom and 3rd bathroom are already framed, plumbed, and wired—requiring only cosmetic finishing.

MAJOR SYSTEMS IN EXCELLENT CONDITION

Peace of mind with a heating unit that is only 4 years old and a brand new tankless water heater.

VALUABLE INCLUSIONS

The sale includes an above-ground pool, chicken coop, two large shipping containers, a detached office, a full-size washer, a dryer, and a refrigerator.

SPACIOUS PARKING

A 4-car garage and two full paved driveways provide ample parking for vehicles, trailers, or an RV.

This property offers significant potential for both short-term flip profit and long-term equity growth.

Teardown Calculator

Chris's Formula:

New Build ARV × 20% = Cash Buyer Price

Cash Buyer Price - Wholesaler Fee - Teardown Costs = Seller Offer

Range: $8k - $12k

Chris's Example:

"If new builds are going for $500k, I could sell to a buyer at $100k. I'd offer the seller $75k so I can make $25k. Subtract $8-12k for the teardown cost."

Comparable Properties

7732 Fm 697, Tom Bean, TX

01/06/2025
Price:

$372,000

Size:

3bd/2ba

SqFt:

3,688

$/SqFt:

$101

Condition:Good

1931 Webb Smith RD, Sherman, TX

06/28/2024
Price:

$356,500

Size:

3bd/2ba

SqFt:

1,716

$/SqFt:

$208

Condition:Excellent

1252 Old Ida RD, Sherman, TX

02/28/2025
Price:

$350,000

Size:

4bd/3ba

SqFt:

2,112

$/SqFt:

$166

Condition:Good

Data based on recent sales in the area. Comparables are selected based on proximity, size, and features.

Financial Summary

Asking Price

$310,000

After Repair Value

$550,000

Repair Costs$45,800
Potential Profit$161,200
ROI41.5%
Total Investment$388,800
Closing Costs$10,000
Holding Costs$15,000
Selling Costs$30,000

Contact Information

RBS Home Buyers

📞+12142939676

📧contact@rbshome.com

Due Diligence Notes

  • Financing: This property is available for purchase with Cash or Hard Money only.
  • Closing: Buyer is responsible for ALL closing costs.
  • Deposit: A $5,000 non-refundable earnest money deposit is required.
  • As-Is Sale: Property is sold as-is. Buyers are expected to conduct their own due diligence.
  • Access: Do not walk the property without prior approval.