LBJ GARDEN VILLAS
1725 OATES DR, MESQUITE (DALLAS CO), TX, 751501351
$32,658,600
2025 Appraised Value
↑ 18.5% from prior year
LBJ Garden Villas – Executive Summary
The 43% gap between appraised value ($32.7M) and estimated sale price ($13.2M) signals either severe operational distress or market dislocation that demands immediate resolution before any acquisition consideration. Google reviews document a pattern of maintenance failures, security incidents, and aggressive towing practices (generating litigation risk) that persist despite a recent management transition in early 2025—operational leverage is uncertain and tenant retention is at risk. The property's workforce-housing positioning (52.4% of 1-mile residents earn under $50K) and zero Walk Score limit upside to higher-income renter cohorts, while the absence of near-term competitive supply provides pricing power only if occupancy and unit conditions stabilize. Unit-level condition data are missing; clubhouse renovations suggest selective common-area refresh, but 24-year-old interiors likely require broad capital deployment to justify the $32.7M appraised value. Verdict: Watch-list pending operational clarification and interior audit; the valuation disconnect and management churn present material downside risk absent clear evidence of operational stabilization and unit-level economics.
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Your New View Awaits
We want your living experience at LBJ Garden Villas to be warm and welcoming, so we created amenities to suit your style of living. Weekends will be fun in our shimmering swimming pool and picnic area. Each home has large closets, vaulted ceilings, a fireplace, and a patio. An affordable community offering spacious floor plans with one, two, or three-bedroom layouts with convenient access to Interstates 20, 635, and 30.
Limited data constraints this analysis. Only 3 photos (exterior, pool, clubhouse) were analyzed with no interior unit images, preventing assessment of kitchen/bath finishes, appliance quality, or unit-level consistency. The clubhouse shows premium finishes (hardwood, marble fireplace, high-end furnishings) inconsistent with the 2001 build date, suggesting a selective 2005 renovation of common areas rather than unit interiors. Exterior positioning is strong: red brick garden-style with mature landscaping and resort-pool amenities suggest Class B+ curb appeal. The value-add case hinges on unit conditions: if 208 units remain in original 2001 state (builder-grade kitchens, dated baths, carpet), there's significant upside; if partial renovation occurred, renovation scope and sequencing become critical. Recommend interior unit photography to quantify renovation percentage and upgrade economics.
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AI Analysis
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LBJ Garden Villas faces a structural location headwind. With a Walk Score of 30 and absent transit infrastructure (null transit score), this 208-unit property in Mesquite is entirely automobile-dependent—a significant friction point for urban-oriented renters and a liability if transit access emerges as a lease-up constraint. The Bike Score of 33 indicates minimal last-mile connectivity, eliminating a secondary amenity differentiation lever. Without rent data, we cannot assess whether unit pricing reflects this walkability discount or if the property is overpositioned relative to its location fundamentals; comparable car-dependent Mesquite stock typically trades at a 10-15% rent penalty versus transit-adjacent Dallas addresses.
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Supply Pipeline: Zero competitive threat from new construction. The 0.0% pipeline ratio and zero permitted projects in the immediate vicinity provide pricing power despite the deteriorating submarket vacancy trend—new supply won't materially pressure occupancy or rents near-term. This insulation is temporary; monitor the broader submarket for future permit activity, as the 208-unit asset will become more vulnerable to displacement once the construction cycle normalizes.
No multifamily construction permits found within 3 miles
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Financial Estimates
Estimated from loan records, rental listings, and appraisal data using industry-standard assumptions.
Sale & Valuation
- Est. Sale Price ⓘ
- $13,178,916
- Sale $/Unit
- $63,360
- Value YoY
- +18.5%
- Implied Cap Rate ⓘ
- —
- Est. Cap Rate ⓘ
- —
Operating Income
- Gross Potential Rent ⓘ
- —
- Est. Vacancy ⓘ
- —
- Submarket Vac. ⓘ
- 4.8%
- Eff. Gross Income
- —
- OpEx Ratio ⓘ
- 45%
- Est. NOI
- —
- NOI/Unit
- —
Debt & Taxes
- Taxes/Unit ⓘ
- —
- Est. DSCR ⓘ
- —
Based on most recent loan: $10,938,500 (Nov 2016, hud_fha) @ 3.04%
Submarket Benchmarks
📊Computed from nearby properties within 3 miles of similar vintage
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Property Summary
LBJ Garden Villas is a 208-unit, 3-story garden-style apartment community built in 2001 with brick exterior and wood-frame construction, rated in good condition with 209.4K SF gross building area. Unit finishes feature vaulted ceilings, fireplaces, personal patios, and large closets across one-, two-, and three-bedroom layouts. Amenities include pool, fitness center, sand volleyball, and picnic areas; no pets allowed and utilities not included in rent. Located in Mesquite near I-20/635/30 interchange with low walkability (Walk Score 30).
Property Details
- Account #
- 381189500A0020000
- Market
- Dallas County, TX
- Building Class
- APARTMENT (BRICK EXTERIOR)
- Building Style
- Garden
- Construction
- D-WOOD FRAME
- Quality
- GOOD
- Condition
- EXCELLENT
- Stories
- 3
- Gross Building Area
- 209,424 SF
- Net Leasable Area
- 208,696 SF
- Neighborhood
- UNASSIGNED
- Last Sale
- January 11, 2000
- Place ID
- ChIJZT1OHfOmToYRn1gZ5q0bVeY
- Business Status
- Operational
- Enriched
- 3 months ago
Owner Information
- Owner
- LBJ GARDEN VILLAS LTD
- Mailing Address
-
% AHC LBJ GARDEN VILLAS ASSOCWEST LAKE HILLS, TEXAS 787464305
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Rental Performance
Available Units Over Time
Latest Scrape (Mar 21, 2026)
Fees
Concession Details
- • Spring Into Savings — $499 Move-In! Limited-time special. Offer valid with approved credit and on select units. Must move in by March 25.
| Unit | Beds | Baths | Sqft | Rent | Status | Listed | Days |
|---|---|---|---|---|---|---|---|
| — | BR | — | $959 | Inactive | Sep 16 | 477 | |
| 2x1 | 2BR | 1 | — | — | Inactive | Mar 21 | — |
| 3x1 | 3BR | 1 | — | — | Inactive | Mar 21 | — |
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Demographics
LBJ Garden Villas draws primary demand from a workforce-constrained 1-mile core where 52.4% of households earn under $50K annually against a 31.9% affordability ratio—a tight fit signaling either rent pressure or selective tenant quality. The property sits in a notable affordability cliff: median income jumps 40.8% ($48.3K to $68.0K) moving from 1-mile to 3-mile radius, yet renter concentration remains elevated at 65.3% immediately surrounding the asset, indicating strong local rental demand despite income constraints. Income distribution skews heavily toward the sub-$50K cohort in the immediate trade area (52.4% vs. 37.1% citywide at 5 miles), positioning this as workforce housing with limited upside to mixed-income rents; however, the 3-mile ring shows material income stabilization that could support lease-up through broader market capture. The 5-mile median household income of $75.8K and only 43.0% renter concentration suggest this submarket is gentrifying or supply-constrained, supporting retention of prime 25–34 year-old renters seeking affordable entry points near higher-wage job centers.
1-Mile Radius
- Population
- 17,378
- Households
- 6,761
- Avg Household Size
- 2.62
- Median HH Income
- $48,267
- Median Home Value
- $245,281
- Median Rent
- $1,282
- % Renter Occupied
- 65.3%
- Affordability
- 31.9% (rent/income)
- Income Distribution
-
<$25k $150k+
3-Mile Radius
- Population
- 120,506
- Households
- 42,208
- Avg Household Size
- 2.92
- Median HH Income
- $68,014
- Median Home Value
- $225,312
- Median Rent
- $1,488
- % Renter Occupied
- 46.8%
- Affordability
- 26.3% (rent/income)
- Income Distribution
-
<$25k $150k+
5-Mile Radius
- Population
- 318,364
- Households
- 111,214
- Avg Household Size
- 2.94
- Median HH Income
- $75,797
- Median Home Value
- $263,463
- Median Rent
- $1,467
- % Renter Occupied
- 43.0%
- Affordability
- 23.2% (rent/income)
- Income Distribution
-
<$25k $150k+
Source: US Census ACS 5-Year Estimates (2023) · 3 tracts (1mi)
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Amenities
Pet Policy
Sorry, No Pets Are Allowed.
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Appraisal History
Appraisal Analysis: LBJ Garden Villas
The property appreciated 18.5% YoY to $32.7M, translating to $156.9K per unit—a strong read in today's multifamily environment, though limited to a single data point. The improvement-to-land ratio (96.3% to 3.4%) is typical for a 24-year-old garden-style asset with minimal redevelopment upside; land value of $1.1M represents negligible carry. Without prior-year comps, the sharp YoY gain likely reflects either operational outperformance, market recovery, or appraisal methodology changes rather than structural value creation.
| Year | Total Value | Change |
|---|---|---|
| 2025 | $32,658,600 | +18.5% |
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Google Reviews
Rating trajectory masks underlying operational deterioration masked by recent management transition. The 3.5-month surge from 1.0 to 3.5 is driven by new management (installed early 2025), but this recovery remains fragile: 30 of 107 total reviews are 1-star, concentrated in 2024–mid-2025, with recurring complaints about towing practices ($327 recovery fees, targeting residents), maintenance failures (burst pipes unrepaired), and security issues (drug use, weapons on premises). Recent positive reviews are largely generic or anecdotal endorsements of the new team, while 2-star and negative 2026 reviews document persistent safety/conduct problems ("people on stairs," "teenagers with guns"). The bifurcated review profile—49 five-star vs. 25 one-star, with sparse middle ratings—signals either genuine operational pivot or a cohort of satisfied long-term residents masking new tenant dissatisfaction; management churn and towing litigation risk materially weaken the investment thesis.
Rating Distribution
107 reviews total
Rating Trend
Reviews
This property has gone down since changing management. There are people hanging out on the stairs, teenagers walking around with guns, young teen boys hanging out at night smoking weed. It has really gone to hell. This used to be a decent place to stay with no problems. They are letting anyone move in here and it’s bringing ghetto problems to go along with it.2/12/26 Updated ...no longer do people hang on the stairs in my area. The management is rude, they are finally answering the phones. There is a foundation problem which I'm sure is very costly to fix. They are making all kinds of "repairs" to the property, not sure if its to bring it up to code or if someone reported them. Towing is horrible, if you use up all of your days of visitor pass parking for free it's $10 a day after that. Which $10 is ridiculous if you have your daily visitors such as very family oriented people. The contractors whose completing the work on this complex don't speak English, but don't worry the office staff can translate for you.
Vivo aqui y me siento super tranquila y me encanta la sona tengo todo serca y céntrico.
I only looked at the place and well... First impression is everything. It was far from a good one. I can honestly say I felt what alot of people are talking about in the reviews. I wasn't greeted, but looked at and walked passed several times. 2 office staffs rudely on the phone with a tenant and slammed the phone to hang up on them. Not to mention the tow truck that was sitting in the parking lot waiting to tow people in broad daylight. Not welcoming at all. Judging by the reviews im glad I didn't move here because I didn't check them before hand.
Inconsiderate, uncaring, unprofessional, non communicators, unfriendly, managed horribly, life ruiners, park and tow is expensive, they tow their own residents, it cost $327 to get you vehicle back, does not answer phone, and when they do answer, they do not pass the message along, apts are decent, but could me made ready better, if you can help it, don't rent here...you can thank me now!
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Data Sources
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