ST MARIN APTS (ECU W/ B+)
1721 E BELTLINE RD, COPPELL (DALLAS CO), TX, 750199611
$54,543,950
2025 Appraised Value
↑ 14.0% from prior year
📍 This parcel is part of the ST MARIN APTS (ECU W/ A CLASS) community — scraped data shown is for the full community.
ST MARIN APTS — EXECUTIVE SUMMARY
St. Marin's 14.0% YoY appraisal jump to $54.5M masks underlying demand softness: the 1-mile renter base (78.1% concentration, $95.1K median HHI) is priced at affordability ceiling (20.0 ratio), while the affluent tenant pool ($100K+ earners) clusters at 3-mile radius, creating leasing vulnerability if actual tenant mix skews lower-income. The property's Class B+ positioning is legitimate—extensive 2018–2022 renovation (53% unit sample refreshed with modern kitchens, finishes, and amenities) and strong exterior maintenance justify current valuation—but zero pipeline supply provides only temporary occupancy protection against visible submarket softening unrelated to new construction. Coppell's car-dependent location (Walk Score 45, no transit) offers defensibility through DFW employment corridor proximity but lacks upside for premium positioning. Watch-list, not acquisition: validate actual tenant income mix and rent positioning relative to 1-mile affordability constraints before proceeding; appraisal appreciation appears market-driven rather than operationally driven, and submarket demand deterioration will be the telling factor in next 12 months.
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ST MARIN APTS: Class B+ property with comprehensive 2018–2022 renovation cycle positioning it well above vintage 2000 construction.
The renovation footprint is substantial and consistent: 35 of 66 analyzed units show upgraded finishes, with kitchen renovations concentrated in the 2016–2020 window featuring white modern slab cabinetry, quartz countertops, and stainless steel appliances across the sample. Flooring is predominantly vinyl plank (13 observations) with recessed lighting standard, indicating a cohesive refresh rather than scattered upgrades. Only one unit remains original (builder-grade bathroom from 2005), suggesting near-complete capital deployment.
Amenities reinforce the positioning: the fitness center shows 2018–2022 contemporary design with functional equipment and skylights; the clubhouse displays high-end mid-century modern furnishings and starburst lighting (2020s-era); and the resort-style pool with manicured landscaping conveys Class B+ market appeal. Exterior brick/stone construction and courtyard layout are well-maintained with mature trees, though the base architecture remains mid-rise garden-style from the 2000s build.
Limited value-add upside remains given renovation saturation, but the consistent execution and amenity quality position this for stable NOI and Class B+ exit comps.
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AI Analysis
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St. Marin occupies a quintessential suburban Dallas position with limited walkability upside. With a Walk Score of 45 and absent transit infrastructure (null transit score), the property is car-dependent—standard for Coppell but misaligned with any density-driven value-add thesis. The Bike Score of 34 confirms minimal alternative mobility, constraining appeal to car-free or transit-oriented tenant segments. Without rent data, the risk profile depends entirely on whether Coppell's employment proximity (DFW corridor positioning) and corporate tenant pools justify the walkability deficit; if rents are mid-market, the location is defensible, but any premium positioning would lack fundamental support.
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Pipeline Analysis:
Zero units in the pipeline (0.0% of the 253-unit inventory) with no active construction nearby provides notable downside protection on occupancy and rent growth in the near term. However, the deteriorating vacancy trend in the submarket suggests demand softening independent of new supply—this property lacks the tailwind of constrained inventory to support pricing power. The absence of permit data warrants verification that pipeline estimates are current, particularly given the submarket weakness.
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
- —
- Sale $/Unit
- —
- Value YoY
- +14.0%
- Implied Cap Rate ⓘ
- —
- Est. Cap Rate ⓘ
- —
Operating Income
- Gross Potential Rent ⓘ
- —
- Est. Vacancy ⓘ
- —
- Submarket Vac. ⓘ
- 5.6%
- Eff. Gross Income
- —
- OpEx Ratio ⓘ
- 45%
- Est. NOI
- —
- NOI/Unit
- —
Debt & Taxes
- Taxes/Unit ⓘ
- $5,390/yr
- Est. DSCR ⓘ
- —
Submarket Benchmarks
📊Computed from nearby properties within 3 miles of similar vintage
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Property Summary
St. Marin Apts is a 253-unit garden-style multifamily property built in 2000 with 260K SF of leasable area across three stories in Coppell, northwest of Dallas. The 2000 vintage Class D wood-frame construction with brick exterior is maintained in excellent condition. No parking type, amenity suite details, or utility/pet policies are documented in available records. The 45 walk score reflects suburban Dallas positioning typical of the submarket.
Property Details
- Account #
- 180018400A0020000
- Market
- Dallas County, TX
- Building Class
- APARTMENT (BRICK EXTERIOR)
- Building Style
- Garden
- Construction
- D-WOOD FRAME
- Quality
- EXCELLENT
- Condition
- EXCELLENT
- Stories
- 3
- Gross Building Area
- 260,074 SF
- Net Leasable Area
- 260,902 SF
- Neighborhood
- UNASSIGNED
- Last Sale
- February 22, 2018
- Business Status
- Operational
- Enriched
- about 2 months ago
Owner Information
- Owner
- SPUS8 ST MARIN LP
- Mailing Address
-
ADDISON, TEXAS 750010638
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Demographics
Misalignment between rent positioning and 1-mile renter base signals vulnerability. The immediate submarket (1-mile) skews heavily renter (78.1%) with median HHI of $95.1K, yet affordability ratio of 20.0 indicates rents are pricing at the ceiling for this cohort—suggesting the property captures affluent renters or relies on income distribution's upper tail (47.7% earn $100K+). However, the 3-mile radius reveals material income lift ($119.1K median HHI, 56.6% earn $100K+) and lower renter concentration (53.1%), indicating the value tenant pool exists beyond walking distance and may be price-sensitive to ownership alternatives. The 1-mile affordability compression paired with outsized renter dependency creates leasing risk if the property relies on lower-income renter tiers; validation of actual rent and tenant income mix is critical to confirm this property captures the affluent slice of the 1-mile market rather than pricing ahead of average renter ability.
1-Mile Radius
- Population
- 16,640
- Households
- 7,056
- Avg Household Size
- 2.39
- Median HH Income
- $95,057
- Median Home Value
- $484,907
- Median Rent
- $1,584
- % Renter Occupied
- 78.1%
- Affordability
- 20.0% (rent/income)
- Income Distribution
-
<$25k $150k+
3-Mile Radius
- Population
- 78,178
- Households
- 31,111
- Avg Household Size
- 2.57
- Median HH Income
- $119,052
- Median Home Value
- $443,921
- Median Rent
- $1,904
- % Renter Occupied
- 53.1%
- Affordability
- 19.2% (rent/income)
- Income Distribution
-
<$25k $150k+
5-Mile Radius
- Population
- 221,095
- Households
- 86,394
- Avg Household Size
- 2.63
- Median HH Income
- $111,626
- Median Home Value
- $403,742
- Median Rent
- $1,798
- % Renter Occupied
- 52.9%
- Affordability
- 19.3% (rent/income)
- Income Distribution
-
<$25k $150k+
Source: US Census ACS 5-Year Estimates (2023) · 4 tracts (1mi)
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Appraisal History
St. Marin's appraised value jumped 14.0% YoY to $54.5M, reflecting strong market conditions in its submarket, though the single data point limits trend analysis. At $215.6K per unit, the valuation sits above most Dallas Class B stabilized comps, warranted by the property's 2000 vintage and apparent operational strength. Land represents only 13.4% of total value—typical for a 25-year-old asset—leaving minimal redevelopment upside without major unit density play. The robust YoY appreciation suggests either operational outperformance or significant market-driven cap rate compression; subsequent appraisals will be critical to distinguish cyclical gains from structural value creation.
| Year | Total Value | Change |
|---|---|---|
| 2025 | $54,543,950 | +14.0% |
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