Fiberboards from scrap denim were fabricated using two different resins, melamine urea formaldehyde (MUF) and polymeric methylene diphenyl diisocyanate (pMDI). Resin content and MUF-pMDI weight ratio were studied. Physical and mechanical tests determined the modulus of elasticity (MOE), modulus of rupture (MOR), internal bond (IB), thickness swell (TS), and water absorption (WA). The resin content had significant impact on all properties. The MOE and IB were affected by the MUF-pMDI ratio. With 17 wt% more pMDI resin portion in the core layer of the denim boards, the IB for the denim fiberboard with a resin content of 15% was enhanced by 306%, while by 205% for the resin content of 25%. The increase in pMDI portion in the core layer of the boards improved both TS and WA of the scrap denim fiberboard. Effective bulk modulus elastography (EBME) was used to measure the acoustic reflection for the estimation of the strength properties of the denim fiberboard. The modulus results from EBME were correlated to the MOR, MOE, and IB of the denim fiberboard. A high correlation was found between the modulus from EBME and IB (R2 > 0.98). EBME can be a great technique to evaluate the bulk modulus distribution of the composites.