SPRINGS AT GRAND PRAIRIE
2136 SARA JANE PKY, GRAND PRAIRIE (DALLAS CO), TX
$36,750,000
2025 Appraised Value
↑ 5.0% from prior year
SPRINGS AT GRAND PRAIRIE – EXECUTIVE SUMMARY
Operational deterioration on a stabilized asset presents immediate acquisition friction. While the property's $133.1K/unit appraisal reflects healthy 5.0% YoY appreciation and zero near-term supply competition, Google reviews reveal systemic failures—recurring power outages (3-4x weekly as of April 2025), water intrusion, unresponsive leasing staff, and management turnover—that signal execution risk inconsistent with a "Very Good" quality rating. The 1-mile demographics ($88.7K median income, 26.2% affordability) position the asset in a defensible upper-middle-income pocket, but the 5-mile income compression ($74.2K, +9.6-point renter concentration spread) confirms this is workforce-adjacent product with limited luxury upside; paired with a Walk Score of 7 and absent transit infrastructure, the location constrains pricing power relative to better-positioned DFW corridors. The photo analysis confirms strong unit finishes and minimal deferred maintenance, but this cosmetic strength masks the operational and infrastructure deficiencies evident in resident complaints.
Recommendation: Watch-list pending operational due diligence. The supply-insulated market position and stabilized cash flow are defensible, but the gap between physical condition and operational performance suggests a management turnover play requiring 6–12 months of corrective capex (HVAC/electrical remediation, IT/cable infrastructure overhaul) and staffing stabilization before value realization. Not a pass, but acquisition timing should follow demonstrated operational recovery.
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New Name. Same Remarkable Community.
The Bradbury at Grand Prairie offers upscale, boutique apartment living with distinctive craftsman-inspired design and superior customer service. Features walk-up apartments with private entries, attached garages, and modern amenities. Located 25 minutes from downtown Dallas and Fort Worth. The community centers around thoughtfully designed spaces that enhance your daily routine, combining craftsman-inspired architecture with modern conveniences. Located at President George Bush Turnpike and Interstate 20, offering apartments near Epic Central entertainment district with convenient access to Dallas-Fort Worth employment centers. Offers a mix of spacious studio, one-, two-, and three-bedroom apartments with premium interiors and finishes. Also features the Essential Housing Program for essential workforce including educators, law enforcement officers, healthcare professionals, firefighters, and essential support staff.
Springs at Grand Prairie positions as strong Class A/B with minimal value-add opportunity. Built in 2021, the 276-unit property exhibits consistent, contemporary finishes across all sampled units: dark espresso cabinetry paired with light gray/white speckled quartz or granite, stainless steel appliances (mid-range Samsung/LG tier), and vinyl plank flooring represent a cohesive 2018–2022 design standard with 78.7% of observations rated "excellent" condition. Resort-style amenities—zero-entry pool, heated spa, fire pits, modern clubhouse—align with Class A expectations. The only soft spot is appliance tier: Samsung/LG-grade stainless steel suggests builder-plus rather than premium finishes, leaving modest unit-level upgrade potential if the owner pursues high-end kitchen refreshes, but the consistent execution across units and fresh paint condition (83.3%) indicate strong capital stewardship and limited deferred maintenance concerns.
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AI Analysis
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The location fundamentally misaligns with typical multifamily economics. A Walk Score of 7 and absent transit infrastructure (null transit score) indicate near-total car dependency—unsuitable for density-based rent arbitrage. The Bike Score of 19 adds minimal alternative mobility value. Without average monthly rent data, we cannot confirm whether pricing reflects this amenity discount, but a 276-unit property in a car-dependent suburban location typically targets workforce/value renters; if positioned as lifestyle or mixed-income, the location profile creates significant leasing friction and limits NOI upside relative to better-positioned Dallas urban/near-urban corridors.
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The property faces zero near-term supply pressure: 0.0% pipeline penetration with no active construction within the competitive set. This insulation from new deliveries supports pricing power over the next 12–24 months, though the absence of submarket vacancy trend data limits visibility into whether competitive dynamics are already tightening. With 276 units and a greenfield development environment, SPRINGS AT GRAND PRAIRIE can operate without defensive moves on rent or concessions tied to incoming supply.
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
- +5.0%
- Implied Cap Rate ⓘ
- —
- Est. Cap Rate ⓘ
- —
Operating Income
- Gross Potential Rent ⓘ
- —
- Est. Vacancy ⓘ
- —
- Submarket Vac. ⓘ
- 3.4%
- Eff. Gross Income
- —
- OpEx Ratio ⓘ
- 45%
- Est. NOI
- —
- NOI/Unit
- —
Debt & Taxes
- Taxes/Unit ⓘ
- $3,329/yr
- Est. DSCR ⓘ
- —
Submarket Benchmarks
📊Computed from nearby properties within 3 miles of similar vintage
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Property Summary
Springs at Grand Prairie is a 276-unit, 2-story garden-style apartment community built in 2021 with wood-frame construction and brick exterior, totaling 175.5K SF. The property carries a "Very Good" quality rating in "Good" condition and features walk-up units with private entries and attached garages, indicating mid-to-upper-tier finishes typical of recent Dallas suburban development. Located at the intersection of President George Bush Turnpike in Grand Prairie (Dallas County), approximately 25 minutes from downtown Dallas/Fort Worth, the property serves a car-dependent submarket (Walk Score: 7). Pet policy allows dogs with no weight restrictions, though breed restrictions apply.
Property Details
- Account #
- 220334900A0010000
- Market
- Dallas County, TX
- Building Class
- APARTMENT (BRICK EXTERIOR)
- Building Style
- Garden
- Construction
- D-WOOD FRAME
- Quality
- VERY GOOD
- Condition
- GOOD
- Stories
- 2
- Gross Building Area
- 175,484 SF
- Net Leasable Area
- 175,484 SF
- Neighborhood
- UNASSIGNED
- Last Sale
- February 25, 2025
- Place ID
- ChIJLzFIWJOJToYR6LnVMxa-2wE
- Business Status
- Operational
- Enriched
- 3 months ago
Owner Information
- Owner
- PLEASANTON HOUSING FINANCE
- Mailing Address
-
CORPORATIONPLEASANTON, TEXAS 780640000
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Rental Performance
Concession Trend (Weeks Free)
Available Units Over Time
Latest Scrape (Mar 22, 2026)
Fees
Concession Details
- • Up to 4 Weeks Free on select units
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Demographics
The property occupies a defensible position in Grand Prairie's upper-middle-income submarkets, though affordability metrics tighten at broader geographies. The 1-mile radius shows the strongest fundamentals: $88.7K median household income with a 26.2% affordability ratio and only 34.8% renter occupancy, suggesting pricing power in a ownership-leaning micromarket. However, the 5-mile ring (273.7K population) reveals income compression to $74.2K and 44.4% renter concentration—a 9.6-point spread indicating the property sits in a premium pocket relative to surrounding workforce housing. Income distribution skews solid across all radii, with 40%+ earning $100K+ in the 1-mile zone, but drops to 31.7% at 5 miles, signaling this is not a luxury renter magnet but rather a middle-market product competing on location within a supply-constrained DFW corridor. The absence of rent data obscures whether current pricing aligns with $84.4K (3-mile) household income, the most operational comparable for lease-up risk assessment.
1-Mile Radius
- Population
- 18,267
- Households
- 6,218
- Avg Household Size
- 2.98
- Median HH Income
- $88,713
- Median Home Value
- $279,579
- Median Rent
- $1,940
- % Renter Occupied
- 34.8%
- Affordability
- 26.2% (rent/income)
- Income Distribution
-
<$25k $150k+
3-Mile Radius
- Population
- 116,212
- Households
- 38,038
- Avg Household Size
- 3.13
- Median HH Income
- $84,423
- Median Home Value
- $249,608
- Median Rent
- $1,726
- % Renter Occupied
- 41.0%
- Affordability
- 24.5% (rent/income)
- Income Distribution
-
<$25k $150k+
5-Mile Radius
- Population
- 273,706
- Households
- 88,682
- Avg Household Size
- 3.12
- Median HH Income
- $74,196
- Median Home Value
- $241,186
- Median Rent
- $1,644
- % Renter Occupied
- 44.4%
- Affordability
- 26.6% (rent/income)
- Income Distribution
-
<$25k $150k+
Source: US Census ACS 5-Year Estimates (2023) · 4 tracts (1mi)
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Amenities
Pet Policy
Dog-friendly apartments with no weight restrictions (Breed restrictions apply – please contact our team for details)
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Appraisal History
Appraisal Analysis: Springs at Grand Prairie
At $133.1K per unit, the property reflects healthy post-stabilization appreciation—5.0% YoY growth on a 2021 vintage asset now reaching maturity. The improvement-to-land split (86.5% / 13.5%) is typical for garden-style multifamily and offers minimal redevelopment optionality; any future value creation will depend on operational leverage rather than land monetization. The single appraisal point limits trend assessment, but the trajectory aligns with DFW market fundamentals for Class B/C product in the 2021-2025 period.
| Year | Total Value | Change |
|---|---|---|
| 2025 | $36,750,000 | +5.0% |
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Google Reviews
Rating trajectory masks operational deterioration. While the 3.7 overall rating improved 0.4 points YoY, the 40-point gap between 5-star (66 reviews) and 1-star (23 reviews) conceals systemic failures in operations and management. Negative reviews cluster around three failure modes: (1) unresponsive leasing/administrative staff with extended resolution timelines (weeks for lease issues, phone accessibility cited repeatedly), (2) physical plant defects including water intrusion, recurring power outages (3-4x weekly as of April 2025), and WiFi/cable failures since October 2024, and (3) pest and odor control. The property appears operationally dependent on individual staff members (Candi, Chase, Amber, Victoria disproportionately praised), suggesting management instability rather than systemic competence—corroborated by explicit references to "new management" and staff turnover. This rating pattern signals execution risk on a value-add thesis; infrastructure and administrative systems require immediate capital and operational intervention pre-acquisition.
Rating Distribution
116 reviews total
Rating Trend
Reviews
If you’re looking at this apartment complex as a potential home, please LOOK elsewhere. There are plenty of honest apartments complexes around the area, that are going to offer you move in specials, as well. I applied for a two bedroom apartment at this complex on Dec 27, 2025, after seeing they had unit 1220 available for $1,592 base rent. I had asked the leasing office on the day I applied, if I’d be able to lock-in that price for my move-in February 7th or 8th, and was told I would. Also, the website gave the option to apply for a 14 month lease, so I applied and paid $325.00. A few days went by, and I got “conditionally approved “, because my credit isn’t as great, even though my rental history is and apparently, they care about that just as much as they care about rental history. The conditional move-in fee was $1,000; on top of the $500.00 security deposit. So a coupe of days later, they email me the lease… with a couple of “tweaks “. First one was, a price increase from the initial $1,592 price I applied and paid $325.00 for, to over $1,700 base rent with a move-in date a week before the date, I had put on the application. The second “tweak” was, from the initial 14 month lease I applied and paid $325.00 for, to a 12 month lease. When I spoke to Lindsey, the assistant manager regarding why they increased the base rent and shortened the lease length, she said her team wasn’t able to communicate the pricing system that was in place and that, the $1,592 price I applied for, was for an immediate move-in. As for the change in the lease term length, according to her, was to keep prices “affordable”. Never mind, the website allows for a lease term as long as 15 months. When I asked her about the $325.00 refund due to their misleading information, not only on their website, but also from the leasing office, she said none of it is refundable. I’ve called Avenue 5 -which is the company that runs this place-, several times and left voicemails, as well as I’ve sent an email, and it seems like the employees are still on “holiday vacation”, because they have not returned my calls and email. It was a genuinely horrible experience, and shameful on their part for misleading me into applying and losing my hard earned money.
Owner response · Jan 2026
Hi Ernesto, Thank you for taking the time to share your feedback, Ernesto. Our team works hard to provide customers with the best support possible, and we apologize that this wasn’t your experience. We’d like to better understand what happened and how we can make things right, so please reach out to us at thebradbury@avenue5apt.com or (469) 457-6814.
With five years in the industry, it takes a lot to genuinely impress me—but Ms. Chase and the entire property did exactly that. The experience was seamless, the property was impressive, and the manager was incredibly hospitable. My client loved it so much that we grabbed lunch nearby and submitted an application immediately after. Thank you, Ms. Chase, and thank you to the entire property team for an excellent experience.
Owner response · Jan 2026
Hi Izaiah, Thank you for sharing your positive experience with us! We're delighted to hear that Ms. Chase and our team made such a great impression. It's wonderful to know that your client enjoyed the visit and decided to apply. We appreciate your kind words and look forward to welcoming you both to our community.
I want to give a special shout out to Chase she was more than professional. Prior to me even knowing this place would be my family’s new home she made us feel right at home. The tour was nothing short of grand. To the Bradbury community and Chase I greatly appreciate it.
Owner response · Jan 2026
Hi Est MCMXC, thank you for your wonderful feedback! We're delighted to hear that Chase made such a positive impression and helped you feel at home. Your kind words about the tour and our community mean a lot to us. Welcome to your new home!
Giselle Campos is the best. Greatest experience ever when comes to keeping me posted on availability.
Owner response · Dec 2025
Hi Caesar, Thank you for your wonderful feedback! We're delighted to hear that Giselle provided you with such a great experience. We appreciate your support and look forward to serving you again in the future!
I visited The Bradbury to check out a studio 1-bedroom apartment. Giselle welcomed me warmly; she was very helpful and kind. The property was clean and she answered all of my questions. Thank you for your assistance! Best, Mayra Hernandez
Owner response · Oct 2025
Hi Mayra, Thank you for sharing your positive experience! We're delighted to hear that Giselle provided you with excellent service and that you found the property to your liking. We appreciate your feedback and hope to welcome you again soon!
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Data Sources
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