Two-Unit Duplex with
New
For Sale
$350,000
1104-1106 Mulkey Lane, Denton, TX 76209
Two residences offer open living areas, private laundry access, and outdoor storage closets.
Property Size1,840 SF
Days on Market5
Property Features for 1104-1106 Mulkey Lane
General Information
Standard status
Active
Size
1,840 SF
Property subtype
Duplex
Taxes and HOA fees
Annual Taxes
$4,446
Building Details
Building Size
1,840 SF
Year Built
1976
Listing Agency:
Repeat Realty, LLC
Listed By:
Jason Labrum · License #0620922
(972) 966-6683
Source:
Sociallivingre
Added: Sep 20
Last Checked: Sep 22 at 9:36PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Repeat Realty, LLC
Investment Insights
Based on property information with market context.
This duplex contains two separate residences, each arranged with two bedrooms, one bathroom, a spacious living room, breakfast area, kitchen, hallway laundry, and a two-car carport with outdoor storage closets. The open layouts provide straightforward connections between the primary living spaces and kitchen areas.
Unit 1104 has received a full interior update that includes a new HVAC system, cabinetry, stainless steel appliances, fresh paint, and luxury vinyl plank flooring. The roof was replaced in 2025. Built in 1976, the property is located in Denton near the University of North Texas and Texas Woman’s University. Interior photographs represent Unit 1104.
Unit 1104 has received a full interior update that includes a new HVAC system, cabinetry, stainless steel appliances, fresh paint, and luxury vinyl plank flooring. The roof was replaced in 2025. Built in 1976, the property is located in Denton near the University of North Texas and Texas Woman’s University. Interior photographs represent Unit 1104.
Key Highlights
- Two‑unit duplex with two bedrooms and one bathroom per residence
- Each side includes a two‑car carport and outdoor storage closets
- Unit 1104 remodeled with new HVAC, cabinets, appliances, paint, and luxury vinyl plank flooring
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$31,914
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
9.12%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$638,280
$638.3K
Cap Rate 7%
$455,914
$455.9K
Cap Rate 9%
$354,600
$354.6K
Market Conditions
NOI Build-Up for 1,840 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$51.2K $27.84/SF
− Vacancy
−$5.6K −$3.06/SF
EGI
$45.6K $24.78/SF
− OpEx
−$13.7K −$7.43/SF
NOI
$31.9K $17.34/SF
Area
Denton, TX
Vacancy
11.00%
Lease Rate
$27.84 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$638,280
Cap Rate 7%
$455,914
Cap Rate 9%
$354,600
Alternative Uses
Best Use
Multifamily LT 5
$455.9K
$398.9K – $531.9K
NOI $31,914 @ 7.0% cap · market cap 9.12%
Second Best
Apartment 5plus
$399.7K
$349.7K – $466.3K
NOI $27,979 @ 7.0% cap · market cap 7.99%
Theoretical Best
Office A
$574.9K
$503.0K – $670.7K
NOI $40,241 @ 7.0% cap · market cap 11.50%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
272
Businesses Nearby
Explore this area
Business Placement
Demographics for 76209, TX
28,088
Population
11,403
Households
2.5
Avg Household Size
31
Median Age
38%
College-Educated
90%
High-School Grad
6.7 sq mi
ZIP Area
4,192
Density / Sq Mi
$66,883
Median Household Income
$34,680
Median Earnings
$1,367
Median Rent
$248,900
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Two residences offer open living areas, private laundry access, and outdoor storage closets.
Where is this duplex located?
The property is located at 1104-1106 Mulkey Lane Denton, TX.
What is the asking price?
The asking price for this property is $350,000.
What are key features of this property?
This property features: Two‑unit duplex with two bedrooms and one bathroom per residence; Each side includes a two‑car carport and outdoor storage closets; Unit 1104 remodeled with new HVAC, cabinets, appliances, paint, and luxury vinyl plank flooring
