I was at a quilt show a few weeks ago and one of the vendors was selling shirts she had reclaimed and cut apart. They were $3 each and she wrote the yardage she netted on each shirt. I bought 6 shirts because the lowest priced ones at goodwill here are $3.98. The yardages were as follows: 1yd,1 and 1/8yd, 7/8yd, 1 yd, 1 and 1/8yd, 1yd, 1.25yd. So the total is approx 6.4 yds. Mens shirting fabric is very nice quality.
I haven't logged on to the vendor's website yet but it is fabricrescue.com and I bet she gives ideas for using the fabric and how to cut the shirt for the largest yield.