New Construction
For Sale
$674,900
509-511 Mockingbird Ln, Denton, TX 76205
Two attached residences offer private fenced yards, individual garages, and three-bedroom layouts near UNT and TWU.
Property Size3,336 SF
Price / SF$202.31
Days on Market42
Property Features for 509-511 Mockingbird Ln
General Information
Standard status
Active
Size
3,336 SF
Total Parking Spaces
2
Property subtype
Multi-Family
Units
Unit Mix
2 x 3BR/2.5BA
Multifamily Units
2
Additional Details
HOA Fee
$50
Amenities
fenced-in backyard
Building Details
Year Built
2025
Buildings
1
Listing Agency:
HomesUSA.com
(888) 872-6006
Listed By:
Ben Caballero · License #0096651
Source:
Christenberrygroup
Added: Jul 20
Changed: Aug 29
Last Checked: Aug 29 at 6:32PM
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 3,336 square feet across two separately configured residences. Each 1,668-square-foot side includes 3 bedrooms, 2.5 bathrooms, a one-car garage, and a private fenced backyard. The property is move-in ready and includes new-appliance coverage, a one-year builder warranty, a two-year electrical and plumbing warranty, and a 10-year structural warranty.
Located at 509-511 Mockingbird Ln in Denton, the property is near the University of North Texas and Texas Woman’s University. The surrounding retail offering includes 100 stores within 5 minutes. DFW Airport is 27 miles away, while downtown Dallas and downtown Fort Worth are 39 miles and 35 miles away, respectively. The property is within the Eagle Cove Duplex community.
Located at 509-511 Mockingbird Ln in Denton, the property is near the University of North Texas and Texas Woman’s University. The surrounding retail offering includes 100 stores within 5 minutes. DFW Airport is 27 miles away, while downtown Dallas and downtown Fort Worth are 39 miles and 35 miles away, respectively. The property is within the Eagle Cove Duplex community.
Key Highlights
- 3,336 SF total, with two 1,668‑square‑foot residences
- Each side has 3 bedrooms, 2.5 bathrooms, and a 1‑car garage
- Private fenced‑in backyard for each residence
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
$57,861
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
8.57%
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%
$1,157,220
$1.2M
Cap Rate 7%
$826,586
$826.6K
Cap Rate 9%
$642,900
$642.9K
Market Conditions
NOI Build-Up for 3,336 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
$92.9K $27.84/SF
− Vacancy
−$10.2K −$3.06/SF
EGI
$82.7K $24.78/SF
− OpEx
−$24.8K −$7.43/SF
NOI
$57.9K $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%
$1,157,220
Cap Rate 7%
$826,586
Cap Rate 9%
$642,900
Alternative Uses
Best Use
Multifamily LT 5
$826.6K
$723.3K – $964.4K
NOI $57,861 @ 7.0% cap · market cap 8.57%
Second Best
Apartment 5plus
$724.7K
$634.1K – $845.5K
NOI $50,727 @ 7.0% cap · market cap 7.52%
Theoretical Best
Office A
$1.04M
$912.0K – $1.22M
NOI $72,959 @ 7.0% cap · market cap 10.81%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
193
Businesses Nearby
Explore this area
Business Placement
Demographics for 76205, TX
18,969
Population
8,114
Households
2.3
Avg Household Size
29
Median Age
39%
College-Educated
88%
High-School Grad
8.3 sq mi
ZIP Area
2,285
Density / Sq Mi
$65,322
Median Household Income
$31,173
Median Earnings
$1,368
Median Rent
$307,900
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 attached residences offer private fenced yards, individual garages, and three-bedroom layouts near UNT and TWU.
Where is this duplex located?
The property is located at 509-511 Mockingbird Ln Denton, TX.
What is the asking price?
The asking price for this property is $674,900.
What are key features of this property?
This property features: 3,336 SF total, with two 1,668‑square‑foot residences; Each side has 3 bedrooms, 2.5 bathrooms, and a 1‑car garage; Private fenced‑in backyard for each residence
