Two-Unit Duplex with Private
New
For Sale
$697,900
513-515 S Mockingbird Lane, Denton, TX 76205
ResidentialIncome, Denton, TX
Property Size4,046 SF
Lot Size0.24 Acres
Price / SF$172.49
Days on Market4
Property Features for 513-515 S 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, Bathroom 4, Bedroom 6, Bedroom 3, Bathroom 1, Bathroom 2, Bedroom 5, Bedroom 2, Bedroom 1, Bedroom 4, Bathroom 6, Bathroom 5
Parking
2
Parking features
Garage
Interior features
DecorativeDesignerLightingFixtures, EatInKitchen, KitchenIsland, OpenFloorplan, Pantry, WalkInClosets
Exterior features
Lighting, PrivateYard
Fencing
Fenced
Appliances
Dishwasher, ElectricRange, Microwave
Subdivision
Eagle Cove
Lot features
Interior Lot, Landscaped, Few Trees
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
Model is located at 400 S. Mockingbird Ln, Denton, TX. Intersection of Duchess Dr and Mockingbird Ln
Standard status
Active
APN
509-511 Mockingbird
Lot size
0.24 Acres
Taxes and HOA fees
HOA Fee
$600 Annually
Utilities
Sewer type
Public Sewer
Heating system
Electric (Heating), Central
Cooling system
Central Air, Ceiling Fan(s)
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: Sep 10
Changed: Sep 12
Last Checked: Sep 13 at 8:06PM
MLS# 21383839
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.
This 4,046-square-foot duplex contains two separate 2,023-square-foot residences. Each side includes four bedrooms, two-and-a-half bathrooms, a one-car garage, and its own fenced backyard. Interior features include open living areas, kitchen islands, pantries, walk-in closets, decorative lighting, and a mix of tile, laminate, and carpet flooring. Both units are served by central electric heating and central air, with public water and sewer.
The property is located in Denton near the University of North Texas and Texas Woman’s University. The surrounding area includes 100 retail stores within 5 minutes, while DFW Airport is 27 miles away. Downtown Dallas is 39 miles away, and downtown Fort Worth is 35 miles away.
Brick construction, composition roofing, electric ranges, dishwashers, and microwaves are included. Warranty coverage includes a 10-year structural warranty, two-year electrical and plumbing coverage, a new-appliance warranty, and a one-year builder warranty.
The property is located in Denton near the University of North Texas and Texas Woman’s University. The surrounding area includes 100 retail stores within 5 minutes, while DFW Airport is 27 miles away. Downtown Dallas is 39 miles away, and downtown Fort Worth is 35 miles away.
Brick construction, composition roofing, electric ranges, dishwashers, and microwaves are included. Warranty coverage includes a 10-year structural warranty, two-year electrical and plumbing coverage, a new-appliance warranty, and a one-year builder warranty.
Key Highlights
- 4,046 SF duplex with two 2,023 SF residences
- Each unit has 4 bedrooms and 2.5 bathrooms
- 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
8.82%
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 10.06%
Second Best
Apartment 5plus
$878.9K
$769.0K – $1.03M
NOI $61,523 @ 7.0% cap · market cap 8.82%
Theoretical Best
Office A
$1.26M
$1.11M – $1.47M
NOI $88,487 @ 7.0% cap · market cap 12.68%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
222
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
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 - Each residence offers four bedrooms, two-and-a-half baths, a private garage, and a fenced backyard.
Where is this duplex located?
The property is located at 513-515 S Mockingbird Lane Denton, TX.
What is the asking price?
The asking price for this property is $697,900.
What are key features of this property?
This property features: 4,046 SF duplex with two 2,023 SF residences; Each unit has 4 bedrooms and 2.5 bathrooms; One‑car garage and private fenced backyard for each side
