New Construction Duplex with
For Sale
$739,900
409-411 Saddle Drive, Denton, TX 76209
Two private residences offer spacious floor plans, fenced yards, and proximity to UNT, TWU, and area retail.
Property Size4,046 SF
Price / SF$182.87
Days on Market601
Property Features for 409-411 Saddle Drive
General Information
Standard status
Active
Size
4,046 SF
Total Parking Spaces
2
Property subtype
Multi-Family / Full Duplex
Units
Unit Mix
2 x 4BR/2.5BA
Multifamily Units
2
Additional Details
HOA Fee
$50
Amenities
Ceiling Fan(s), Central Air
Central, Electric
No
Carpet, Laminate, Tile
Dishwasher, Disposal, Electric Range, Microwave
Decorative Lighting, Kitchen Island, Open Floorplan, Pantry, Walk-In Closet(s)
Composition
Two
Back Yard, Fenced
Private Yard
2
Slab
Plans
Brick
Building Details
Year Built
2025
Buildings
1
Listing Agency:
HomesUSA.com
(888) 872-6006
Listed By:
Ben Caballero · License #0096651
(888) 872-6006
Source:
Compass
Added: Jan 7, 2025
Changed: Aug 31
Last Checked: Aug 31 at 5:30AM
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 HomesUSA.com
Investment Insights
Based on property information with market context.
Completed in 2025, this duplex contains 4,046 square feet across two separate residences. Each side provides 2,023 square feet with four bedrooms, 2.5 baths, a one-car garage, and a private fenced backyard. Interior features include an open floor plan, kitchen island, pantry, walk-in closets, central electric air conditioning, ceiling fans, laminate, carpet, tile, and a kitchen equipped with a dishwasher, disposal, electric range, and microwave. Brick construction and slab foundations complement the new-build configuration.
The property is located near the University of North Texas and Texas Woman’s University, with 100 retail stores within 5 minutes. DFW Airport is 27 miles away, while downtown Dallas is 39 miles away and downtown Fort Worth is 35 miles away. Builder coverage includes a 10-year structural warranty, 2-year electrical and plumbing warranty, new-appliance warranty, and 1-year builder warranty.
The property is located near the University of North Texas and Texas Woman’s University, with 100 retail stores within 5 minutes. DFW Airport is 27 miles away, while downtown Dallas is 39 miles away and downtown Fort Worth is 35 miles away. Builder coverage includes a 10-year structural warranty, 2-year electrical and plumbing warranty, new-appliance warranty, and 1-year builder warranty.
Key Highlights
- 4,046 SF duplex completed in 2025
- Each 2,023 SF residence includes 4 bedrooms and 2.5 baths
- One‑car garage and private fenced backyard for each side
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
$61,523
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
8.32%
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%
$1,230,460
$1.2M
Cap Rate 7%
$878,900
$878.9K
Cap Rate 9%
$683,589
$683.6K
Market Conditions
NOI Build-Up for 4,046 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
$125.3K $30.96/SF
− Vacancy
−$13.4K −$3.31/SF
EGI
$111.9K $27.65/SF
− OpEx
−$50.3K −$12.44/SF
NOI
$61.5K $15.21/SF
Area
Denton, TX
Vacancy
10.70%
Lease Rate
$30.96 /SF/Yr
Expense Ratio
45.00%
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%
$1,230,460
Cap Rate 7%
$878,900
Cap Rate 9%
$683,589
Alternative Uses
Best Use
Multifamily LT 5
$1.00M
$877.2K – $1.17M
NOI $70,175 @ 7.0% cap · market cap 9.48%
Second Best
Apartment 5plus
$878.9K
$769.0K – $1.03M
NOI $61,523 @ 7.0% cap · market cap 8.32%
Theoretical Best
Office A
$1.26M
$1.11M – $1.47M
NOI $88,487 @ 7.0% cap · market cap 11.96%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
241
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 private residences offer spacious floor plans, fenced yards, and proximity to UNT, TWU, and area retail.
Where is this duplex located?
The property is located at 409-411 Saddle Drive Denton, TX.
What is the asking price?
The asking price for this property is $739,900.
What are key features of this property?
This property features: 4,046 SF duplex completed in 2025; Each 2,023 SF residence includes 4 bedrooms and 2.5 baths; One‑car garage and private fenced backyard for each side
