Residential Duplex with Private
For Sale
$674,900
509-511 Mockingbird Lane, Denton, TX 76205
ResidentialIncome, Denton, TX
Property Size3,336 SF
Lot Size0.17 Acres
Price / SF$202.31
Days on Market53
Property Features for 509-511 Mockingbird Lane
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Property condition
Under Construction
Bedrooms
6
Bathrooms
6
Full bathrooms
4
Half bathrooms
2
Rooms
Bathroom 3, Bedroom 3, Bathroom 5, Bedroom 1, Bedroom 5, Bedroom 6, Bathroom 1, Bedroom 4, Bathroom 4, Bathroom 6, Bathroom 2, Bedroom 2
Parking
2
Parking features
Garage
Interior features
DecorativeDesignerLightingFixtures, KitchenIsland, OpenFloorplan, Pantry, WalkInClosets
Exterior features
Lighting, PrivateYard
Fencing
Fenced
Appliances
Dishwasher, ElectricRange, Disposal, Microwave
Subdivision
Eagle Cove
Elementary school
Rivera
Middle school
Bettye Myers
High school
Ryan H S
Elementary school district
Denton ISD
Middle school district
Denton ISD
High school district
Denton ISD
Directions
From Loop 828, turn onto Duchess Dr. Community will be on your left.
Standard status
Active
APN
509-511 Mockingbird
Lot size
0.17 Acres
Taxes and HOA fees
HOA Fee
$600 Annually
Utilities
Sewer type
Public Sewer
Heating system
Central, Electric (Heating)
Cooling system
Ceiling Fan(s), Central Air
Water source
Public
Building Details
Year built
2025
Floors in Building
2
Number of units
2
Flooring type
Laminate, Carpet, Tile
Building materials
Brick
Roof type
Composition
Listing Agency:
HomesUSA.com
(888) 872-6006
Listed By:
Ben Caballero · License #0096651
(469) 916-5470
Added: Jul 10
Changed: Aug 19
Last Checked: Aug 31 at 12:06PM
MLS# 21094844
Copyright © 2026 North Texas Real Estate Information Systems, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Built in 2025, this duplex contains two residential units totaling 3,336 square feet. Each 1,668-square-foot residence offers three bedrooms, 2.5 bathrooms, a one-car garage, and a private fenced backyard. Interior features include an open floor plan, kitchen island, pantry, walk-in closets, decorative lighting, and a mix of laminate, carpet, and tile flooring. Appliances include a dishwasher, electric range, disposal, and microwave. Central air and electric central heating serve the units, with public water and public sewer.
The property is located in Denton near the University of North Texas and Texas Woman’s University. The source information also places the duplex within five minutes of 100 retail stores, 27 miles from DFW Airport, 39 miles from downtown Dallas, and 35 miles from downtown Fort Worth. Warranty coverage includes 10 years for structural components, two years for electrical and plumbing, and one year from the builder, along with a new appliance warranty.
The property is located in Denton near the University of North Texas and Texas Woman’s University. The source information also places the duplex within five minutes of 100 retail stores, 27 miles from DFW Airport, 39 miles from downtown Dallas, and 35 miles from downtown Fort Worth. Warranty coverage includes 10 years for structural components, two years for electrical and plumbing, and one year from the builder, along with a new appliance warranty.
Key Highlights
- Two‑unit duplex totals 3,336 square feet
- Each unit measures 1,668 square feet with 3 bedrooms and 2.5 bathrooms
- Each residence includes a 1‑car garage and private fenced backyard
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
313
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 residences feature private garages, fenced backyards, and open-plan interiors with kitchen islands.
Where is this duplex located?
The property is located at 509-511 Mockingbird Lane 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: Two‑unit duplex totals 3,336 square feet; Each unit measures 1,668 square feet with 3 bedrooms and 2.5 bathrooms; Each residence includes a 1‑car garage and private fenced backyard
