GRAND AT HILL STREET
1614 W HILL ST, GRAND PRAIRIE (DALLAS CO), TX
$57,000,000
2025 Appraised Value
↓ 30.8% from prior year
GRAND AT HILL STREET – Executive Summary
The -30.8% appraisal markdown to $57.0M signals acute operational distress that contradicts the Class A 2020 vintage positioning. Google reviews reveal a 3.4 rating with worsening 6-month trajectory, driven by chronic maintenance failures, management accessibility breakdowns, and systematic resident dissatisfaction—suggesting management quality erosion rather than market-wide softening. Demographically, the property is trapped in a compressed affordability submarket (31.9% HHI ratio at 1-mile) with 71.3% renter concentration but 47.1% of households earning under $50K, limiting NOI expansion unless operational recovery materializes; the suburban ring (3–5 mile) shows healthier income metrics but lies outside immediate tenant draw. Near-zero competitive supply (0.34% pipeline) provides occupancy tailwinds, yet the Walk Score of 25 and car-dependent location cap appreciation relative to Dallas urban assets. Watch-list pending detailed occupancy/lease rate forensics and management transition evidence—the operational red flags outweigh the physical asset quality and must be resolved before acquisition consideration.
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Experience the ultimate in sophisticated living at The Grand at Hill Street. Our beautiful apartments have quality options to make you feel at home.
Grand at Hill Street positions as a Class A asset with 2020 construction and predominantly upgraded finishes, but exhibits inconsistent execution that limits value-add potential. Unit interiors show 72.4% upgraded/premium/luxury finish distribution—white quartz countertops, modern slab cabinetry, stainless appliances, and vinyl plank flooring—dating to 2016-2020 vintage. However, finish quality varies materially: only 2 of 39 photos show quartz countertops while kitchen appliance specs range from premium stainless to builder-grade GE/Frigidaire, suggesting either partial unit upgrades or variable tenant move-in conditions. Paint remains fresh across 84.6% of observations, but the exterior concrete deck exhibits visible algae staining and deferred maintenance, undercutting curb appeal. Resort-style amenities (dual pools, spa, premium clubhouse with piano/pool table) align with Class A positioning and offset interior inconsistency; the physical asset supports Class B+ to A- stabilization with limited near-term renovation upside given the 2020 vintage.
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AI Analysis
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The location fundamentally constrains value creation and tenant appeal. A Walk Score of 25 and Bike Score of 19 classify this as a car-dependent suburban asset with minimal multimodal transit options—typical for Grand Prairie's exurban position west of Dallas proper. The absence of transit scoring data suggests negligible public transportation access, limiting tenant appeal to auto-dependent renters and eliminating the walkability premium that could justify above-market rents. Without rent data or nearby amenity density metrics, the unit economics likely depend on affordable positioning rather than lifestyle positioning; any rent assumptions should factor suburban commute times to DFW employment centers and cap appreciation expectations relative to urban-core or transit-adjacent Dallas properties.
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Pipeline supply is minimal—1 unit in nearby construction represents just 0.34% of the 290-unit property, presenting negligible competitive pressure. The single permitted project at 1513 Hickory Street remains in "Revisions Required" status as of mid-2023, suggesting delayed or stalled delivery; without estimated cost or unit count, it's unclear whether this will materialize as material supply. Given the immaterial pipeline percentage and development friction, near-term occupancy and rate growth should face minimal headwinds from new supply.
| Distance | Address | Description | Status | Filed |
|---|---|---|---|---|
| 2.4 mi | 1513 HICKORY ST | 1513 Hickory - 5 Unit Townhouses | Revisions Required | Jun 25, 2023 |
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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
- -30.8%
- Implied Cap Rate ⓘ
- —
- Est. Cap Rate ⓘ
- —
Operating Income
- Gross Potential Rent ⓘ
- —
- Est. Vacancy ⓘ
- —
- Submarket Vac. ⓘ
- 1.9%
- Eff. Gross Income
- —
- OpEx Ratio ⓘ
- 50%
- Est. NOI
- —
- NOI/Unit
- —
Debt & Taxes
- Taxes/Unit ⓘ
- —
- Est. DSCR ⓘ
- —
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Property Summary
GRAND AT HILL STREET – GRAND PRAIRIE, TX
Class A mid-rise completed in 2020 with 290 units across 358.4K SF of brick construction, yielding 854 SF NLA per unit. The four-story wood-frame asset is rated excellent in both quality and condition. Located in Grand Prairie (Dallas County) with a walk score of 25, indicating car dependency. Parking type, utility inclusions, and pet policy are not specified in available data; amenities list is blank despite the property's recent vintage and stated quality positioning.
Property Details
- Account #
- 28083000010010000
- Market
- Dallas County, TX
- Building Class
- APARTMENT (BRICK EXTERIOR)
- Building Style
- Mid-Rise
- Construction
- D-WOOD FRAME
- Quality
- EXCELLENT
- Condition
- EXCELLENT
- Stories
- 4
- Gross Building Area
- 358,350 SF
- Net Leasable Area
- 247,676 SF
- Neighborhood
- UNASSIGNED
- Last Sale
- April 25, 2023
- Place ID
- ChIJCbEurG6HToYRKMLcXbvVtM0
- Business Status
- Operational
- Enriched
- about 2 months ago
Owner Information
- Owner
- GRAND PRAIRIE HOUSING
- Mailing Address
-
FINANCE CORPGRAND PRAIRIE, TEXAS 750518804
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Rental Performance
Concession Trend (Weeks Free)
Available Units Over Time
Latest Scrape (Mar 25, 2026)
Fees
Concession Details
- • Free Rent: $1,000 Off. Offer applies to your first full month. Must move by 4/15/26.
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Demographics
Affordability risk in immediate submarket; suburban ring offers stronger demand fundamentals. The 1-mile radius shows compressed affordability at 31.9% ratio against $53.0K median HHI, suggesting the property operates at the margin for its immediate workforce—71.3% renter concentration provides depth, but 47.1% of households earn under $50K leaves limited pricing power. The 3-mile and 5-mile rings reveal meaningfully different demographics: median income rises to $58.8K and $64.0K respectively, renter concentration moderates to 58.4%–57.2%, and affordability ratios improve to 26.1%–27.3%, indicating the submarket is sandwiched between a constrained urban core and a healthier suburban ring. Income distribution skews workforce (65.1% earn under $75K within 1-mile), not affluent renters, which caps NOI expansion unless occupancy or operational efficiency compensates.
1-Mile Radius
- Population
- 7,892
- Households
- 2,835
- Avg Household Size
- 2.79
- Median HH Income
- $53,041
- Median Home Value
- $197,713
- Median Rent
- $1,410
- % Renter Occupied
- 71.3%
- Affordability
- 31.9% (rent/income)
- Income Distribution
-
<$25k $150k+
3-Mile Radius
- Population
- 84,437
- Households
- 30,256
- Avg Household Size
- 2.89
- Median HH Income
- $58,768
- Median Home Value
- $200,450
- Median Rent
- $1,280
- % Renter Occupied
- 58.4%
- Affordability
- 26.1% (rent/income)
- Income Distribution
-
<$25k $150k+
5-Mile Radius
- Population
- 239,919
- Households
- 88,528
- Avg Household Size
- 2.85
- Median HH Income
- $63,978
- Median Home Value
- $220,746
- Median Rent
- $1,453
- % Renter Occupied
- 57.2%
- Affordability
- 27.3% (rent/income)
- Income Distribution
-
<$25k $150k+
Source: US Census ACS 5-Year Estimates (2023) · 2 tracts (1mi)
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Appraisal History
Appraisal Analysis: GRAND AT HILL STREET
The property experienced a severe -30.8% year-over-year markdown in 2025, dropping to $57.0M, signaling either distressed circumstances or significant market repricing in a softening cap rate environment. At $196.6K per unit, the valuation implies material compression from prior-year underwriting, though without historical data points the trajectory remains unclear. Land represents just 2.0% of total value ($1.1M), indicating minimal redevelopment upside—the improvement-heavy structure is a stabilized asset, not a value-add play. This sharp write-down warrants investigation into occupancy deterioration, lease rate compression, or lender-driven revaluation rather than construction completion gains.
| Year | Total Value | Change |
|---|---|---|
| 2025 | $57,000,000 | -30.8% |
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Google Reviews
3.4 rating masks severe operational deterioration. The 6-month trend worsening from 2.4 to 2.5, combined with a 78-to-118 one-star-to-five-star ratio, reveals a bifurcated resident base: newer residents praising individual leasing staff (Ariel, Jazmyne) versus incumbent residents citing chronic maintenance failures, unreachable management, and unresolved unit defects (appliances, cleanliness, amenities). Multiple reviews flag phone accessibility as a systemic constraint on operations, suggesting understaffing or process breakdown at the leasing office. This review profile signals management quality erosion post-opening and meaningful capital/operational risk that contradicts the marketing narrative.
Rating Distribution
214 reviews total
Rating Trend
Reviews
Ariel has been so helpful in my moving experience at Grand at Hill Street. He walked me through everything,. I was able to text him anytime. Some things needed to be fixed, but maintenance was great at getting them completed
Owner response
Thank you for sharing your experience! We’re so glad to hear that Ariel was so helpful and made your move-in process smooth and easy to navigate. We truly appreciate your feedback and welcome you to be a part of our community!
I absolutely hate this community! Nothing is ever working right dish washer, ice maker , washer & dryer or garbage disposal. When you put in maintenance request they’ll come but problem is NEVER fixed. Then there’s the random charges on your account & forget trying to call them because you’ll get the AI, never a real person! Messages on the portal NEVER get a response. Literally have to take off work to go into the office during office hours because God forbid you go on a Saturday because who ever is there on the weekend can’t help with anything! Worse experience EVER
Update: These apartments have gone completely down & the grounds are disgusting. From people leaving trash everywhere, to the hall carpets full of stains to people or their pets constantly peeing in elevators. If you can help is don’t move here!
Owner response
Sherrell, thank you for sharing your concerns about our upkeep and communication. We pride ourselves on our ability to provide consistent and superior service, so we are eager to gather more information about your experiences and work to improve them right away. When you have a few moments, please email us at grandathillmgr@tamresidential.com. We look forward to hearing from you.
Love the property and have applied but have since not been able to get ahold of anyone in the office by phone so everytime I need an update, I have to physically drive there and still have gotten nothing. This is very frustrating and makes me not want to sign a lease to stay here when I can’t even get through to them on the phone.
Owner response
Thank you for sharing your feedback. We’re glad to hear that you love the property and appreciate your interest in becoming part of the community. Your comments regarding communication and the application follow-up have been noted, and we understand how frustrating that experience can be. We appreciate you taking the time to share your perspective.
My experience here at the grand has been GREAT. jazmyne was great during the tour and continues to be great our 3 months here.The staff is nice and the event are actually fun!
Owner response
Thank you for sharing your experience KIAZ! We’re glad to know you’ve had such a positive experience with our team. We always aim to provide friendly, efficient service and create a community residents are proud to call home. If you ever need assistance, please don’t hesitate to reach out to our office.
I’ve tried to call this leasing office 5 times in the past two days to try to speak with someone about leasing. Every single time I either get the corporate office or I get sent to voicemail which is full and you can’t send a message. When you fill out the form online for them to contact you they never do. How is anyone supposed to lease here if they can’t even contact a real person to speak to? Ridiculous and unprofessional
Owner response
Thank you for sharing this feedback with us. We apologize for the difficulty caused. We appreciate your patience; your feedback will be forwarded to our team and we’d really like the opportunity to connect with you directly.
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Data Sources
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