4201 BUNKER HILL RD, GARLAND (DALLAS CO), TX, 75048
$63,000,000
2025 Appraised Value
↑ 3.6% from prior year
The property carries meaningful refinancing risk and operational fragility that outweigh its favorable supply backdrop. Current debt of $102.6M against a $63M appraisal (162.8% LTV) and an estimated sale price of $46.9M (218.6% LTV) signals either stale valuations or significant value deterioration since 2022—critical for a 2019–2022 vintage debt stack with missing maturity dates in a rising-rate environment. Operationally, the 3.9-star Google rating recovery is personality-dependent (concentrated in two staff members) rather than systemic, masking structural complaints around pest management, parking, and move-in processes that will pressure lease renewal and resident lifetime value. Demographically, the 1-mile radius is 83.1% owner-occupied with $103K median income—unfavorable for a 299-unit renter-focused asset—and the asset's Walk Score of 4 with zero transit access positions it as workforce housing rather than talent-class product, limiting rent upside. The absence of nearby supply provides a short-term occupancy tailwind, but incomplete unit-mix data and missing loan maturity details prevent full underwriting. This is a watch-list hold pending debt schedule clarification and operational audit; the refinance cliff and management bottlenecks present downside risk that current appraisal and demographics do not fully offset.
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Domain at the One Forty positions as a solid Class B property with selective renovation that limits immediate value-add potential. Unit finishes reflect 2016–2020 era upgrades with white shaker cabinets, quartz countertops, and premium stainless appliances (wine cooler/beverage center) in select units, but builder-grade chrome bathroom hardware and mixed flooring (vinyl plank predominates) across the 299-unit portfolio indicate inconsistent upgrade depth. Exterior condition shows wear: concrete stairs exhibit dirt accumulation and deterioration, though waterfront amenities (resort-style pools with LED lighting, boardwalk promenade, water features) are well-maintained and drive curb appeal. The 14 "excellent" condition observations against 9 "fair" and 2 "poor" suggest recent capital spend on common areas, but scuffed paint (7 instances) and poor stair maintenance signal deferred exterior upkeep that will require near-term investment.
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Location fundamentally misaligned with modern multifamily demand. Walk Score of 4 and zero transit access indicate a property requiring personal vehicle dependency—a major headwind for attracting talent-class renters or millennials prioritizing walkability. The Garland suburban location offers limited amenity density and distance to Dallas employment centers, positioning this as a workforce housing play rather than a premium product. Without published rent data, it's difficult to assess whether unit pricing reflects this constraints-heavy location profile, but the mobility deficit will pressure both lease-up velocity and resident retention relative to closer-in properties.
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No material competitive threat from nearby supply. Zero units in the pipeline (0.0% of the 299-unit inventory) and no active construction projects within competitive radius. The improving submarket vacancy trend provides a tailwind for rent growth without the headwind of new deliveries pulling occupancy or rate. This is a favorable supply/demand backdrop for hold or value-add execution.
No multifamily construction permits found within 3 miles
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Refinancing and leverage risk are immediate concerns. Current debt totals $102.6M against a $46.9M estimated sale price (218.6% LTV) and $63M appraised value (162.8% LTV), indicating either stale appraisals or significant value deterioration since 2022. The ARESIF loan ($39.4M, originated Dec 2019) and TIAA FSB loan ($30.5M, originated May 2022) lack maturity dates in available records—critical gaps given current rate environment and the 3.9-year hold. The ownership chain shows no distress signals (clean deed types through 2022), but the four transactions in 16 years and current absentee corporate structure warrant investigation into whether Pardue Domain management is actively managing NOI growth or positioned to exit. Loan-per-unit metrics ($343K) appear reasonable in isolation but are meaningless without current NOI and debt service visibility.
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Estimated from loan records, rental listings, and appraisal data using industry-standard assumptions.
Based on most recent loan: $30,500,000 (May 2022, attom)
Computed from nearby properties within 3 miles of similar vintage
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Domain at the One Forty is a 299-unit, 3-story garden-style apartment community built in 2017 on 140 acres in Garland, with 387.5K SF of gross building area and wood-frame construction rated excellent in both quality and condition. Unit finishes include white quartz counters, wood-style flooring, and stainless steel appliances; the amenity package is recreation-heavy (infinity pool, disc golf, dog spa, fitness center, campfire area) rather than urban-focused, reflected in a walk score of 4. Pet policy allows up to 2 pets with a $500 one-time fee and $20/month per pet, with no deposit required; utilities breakdown between resident-paid and included is not specified. The property sits near George Bush Turnpike and Firewheel Town Center in a lower-walkability suburban Dallas corridor.
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| Unit | Beds | Baths | Sqft | Rent | Status | Listed | Days |
|---|---|---|---|---|---|---|---|
| # A3 | 1BR | 1 | — | $1,685 | Inactive | May 21 | 443 |
| # A4 | 1BR | 1 | — | $1,669 | Inactive | May 21 | 443 |
| # A5 | 1BR | 1 | — | $1,650 | Inactive | May 21 | 443 |
| # A2 | 1BR | 1 | — | $1,630 | Inactive | May 21 | 443 |
| # A1 | 1BR | 1 | — | $1,605 | Inactive | May 21 | 443 |
| — | 1BR | 1 | 901 | $1,381 | Inactive | Nov 11 | 174 |
| # G1 | 1BR | 1 | — | $1,350 | Inactive | May 21 | 443 |
| A3 | 1BR | 1 | 777 | — | Inactive | Mar 24 | — |
| B1 | 2BR | 2 | 1,101 | — | Inactive | Mar 24 | — |
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Affluent renter market with weak immediate demand depth. The 1-mile radius shows only 16.9% renter occupancy against a median household income of $103.0K and 51.3% of households earning $100K+, signaling this is a primary-home ownership neighborhood where renters face structural headwinds. Demand widens modestly at 3 miles (25.3% renters, $105.5K median income) but the affordability ratio improves to 19.6, suggesting the broader trade area can support higher rents more comfortably. The 5-mile radius stabilizes at 28.8% renter occupancy and $103.8K income—consistent with suburban ring dynamics but indicating no meaningful population concentration advantage for a 299-unit asset. Income skew is right-heavy across all radii (28-29.5% earn $150K+), limiting the workforce housing tenant pool and creating rent ceiling exposure if economic conditions soften for high-earner renters.
Source: US Census ACS 5-Year Estimates (2023) · 2 tracts (1mi)
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Unit Mix Analysis — DOMAIN AT THE ONE FORTY
This dataset is incomplete and unreliable for investment analysis. The property reports 299 total units but only 7 one-bedroom units are accounted for, leaving 292 units (97.7%) unclassified by bedroom type. Without the full unit mix breakdown and rental rates, we cannot assess concentration risk, pricing power across unit types, or demographic targeting. Request corrected data from the broker or pull from property management records before proceeding with underwriting.
Estimated from 7 listed units (2.3% of 299 total)
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Pet friendly community with breed restrictions and a limit of 2 pets per home. One time non-refundable fee: $500. Monthly Rent: $20 per pet. Deposit: $0.
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Appraisal Analysis: Domain at the One Forty
The property appraised at $63.0M in 2025, reflecting 3.6% YoY growth and landing at $210.7K per unit—a healthy mark for a 2017-vintage asset in the current rate environment. The improvement-to-land ratio (91.9% / 8.1%) is typical for garden-style multifamily and offers minimal redevelopment upside; any value play depends on operational arbitrage rather than land monetization. Single-year appreciation is modest but positive, though without prior appraisals we cannot assess whether this reflects market recovery, stabilization, or merely annual inflation in replacement cost.
| Year | Total Value | Change |
|---|---|---|
| 2025 | $63,000,000 | +3.6% |
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Rating recovery masks persistent operational friction. The 90-basis-point improvement from 3.0 to 3.9 over the past six months is driven entirely by a concentrated cohort of 5-star reviews praising Renee Thompson (leasing) and Marco (maintenance)—suggesting recent staffing changes may have masked deeper issues rather than resolved them. However, the 1-star distribution (68 of 256 reviews, 26.6%) reveals structural complaints: pest infestations (rats in Building 7), chronic parking unavailability, towing practices, and inconsistent move-in/move-out experiences. The positive reviews are personality-dependent rather than system-dependent, indicating management quality is bottlenecked to two individuals rather than operationalized across the team. This rating profile suggests deferred capex and process gaps that a single leasing agent cannot offset—a risk factor for lease renewal, resident lifetime value, and post-acquisition integration.
252 reviews total
i am a current resident, i’ve lived here in a 1b/1b & 2b/2b since Dec ‘23. i know every complex has issues & that not everyone’s experience is the same but this has been mine up until now Oct ‘25. *I WILL UPDATE AT MOVE OUT* the PROS- 1. maintenance guys are GREAT. any time a request is put in they get it done in timely manner! 2. the office staff is friendly and Renee, specifically is amazing! i’ve not had *too* many interactions with upper management, bc we don’t really have many issues that can’t be resolved by Renee, but the interactions i have had have been okay. *usually* when you have an issue they are corporately nice and will try to be helpful in most cases. 4. outside property/landscape is well maintained. there’s not dog poop or trash all over, they have someone walk the property daily to pick up anything that could be around. landscape gets done 1x a week. the CONS (in my opinion) 1. you can hear everything you’re neighbors do,not sure if we’ve had bad luck with both of our upstairs neighbors but you can hear all the steps you’re upstairs neighbors make. i know apartments aren’t made to be soundproof but i’ve lived in apartments for 7 years and have never had this big of an issue with noise from neighbors. 2. neighbors are hit or miss. i know this isn’t necessarily the property’s fault and it’s more people themselves but lots of people just don’t care about being dirty, they leave trash outside and in the stairwells. truthfully they don’t care to really respect the property. 3. this property is said to be smoke-free & is stated in our lease that smoking is not allowed anywhere on the property, but i see people smoking all the time all over the property and throwing their buds all on the ground. 4. parking sucks unfortunately, visitors & residents have to share spots. parking is hard to find if you get off of work late or don’t have a reserved spot you pay for, there is one row of “free” parking for 3 buildings!! most of the reserved spots which are closest to the doors are covered parking & you have to pay $50 for them. i get that it’s easy cash for these companies but having to pay $ to have a parking spot that’s not a long walk away or should be a given, is insane to me. -1⭐️ the cons are mostly just annoying and i wouldn’t say they are deal breakers exactly.. there are other “pros” but they are standard to most newer properties like mail room/ lockers & a key fob to enter your building.
DO NOT MOVE HERE — WARNING FROM A 6-YEAR RESIDENT I’ve lived in this apartment community for six years in two different units, and my recent transfer experience has been a complete nightmare. I was given a unit that smelled like sewage and was clearly not cleaned properly. Even after a second professional cleaning and an odor treatment, the apartment is still filthy and smells awful. My daughter and I have had to sleep with the windows open just to tolerate being inside. Management’s response was heartbreaking and insulting and offered zero real solutions. Their option was a SMALLER unit for $100 MORE per month, plus a six-day rent credit. Even though I couldn’t stay in the apartment for the first three days due to its conditions, only some of our belongings were moved in on day 1. I paid a moving service again to move the remainder of our things when I THOUGHT the odor treatment had worked. I will now have to pay to have my things moved again if I transfer or break the lease. They also refused to match my current rent or provide a full month concession, despite the unit being uninhabitable. After six years of loyalty, this is how residents are treated. Poor cleaning. Strong sewer odor. Poor management. If you care about your family, your peace of mind, or your money — DO NOT RENT HERE. This is coming from a current resident. You’ve been warned.
I’ve been living here for about 5 months now. Anything bad I could possibly say has nothing to do with what this complex and its management has to offer. I randomly found it over the summer, took a tour and ultimately took a chance. Great decision on my end I would say :) The apartments offer an outstanding level of luxury. The kitchen island is huge. The standing showers with the marble tiles are my personal favorite. High ceilings. Huge bathrooms. Spacious walk-in closets. Maintenance is also incredibly quick and efficient. Now let’s talk amenities and everything else you get out of this amazing deal. The trail. They have an amazing green space with a circular trail that wraps around an even bigger green space overlooking the lake. Beautiful landscape. Just a simple morning walk looks stunning. That trail also connects to the Rowlett creek! So much space for physical activity while admiring gorgeous views. There’s also a fire place overlooking that lake. The gym and the club room are always kept clean. Although the gym could have more machines, it still has a diverse collection. The club room has its own wifi, coffee machine, coffee shop style seating, a pool table, a great kitchen, 3 TVS, and so much more. The club room connects to the pool which is also overlooking the lake. There’s resort style seating and a grill! Apartments with this level of luxury go for at least $2200 (for a 2B2B) in places like Plano or closer to uptown/downtown Dallas, and they usually never offer everything else this place does. You do the math. The few downsides I’ve experienced I think are not directly related to the complex, but are rather mishaps you can encounter anywhere. Neighbors are a hit or miss, in terms of level of entitlement, cleanliness, friendliness. But duh, that’s everywhere. Our floor had an ongoing roach problem, but pest control did consistent visits. I don’t think what they used helped though. Pro tip: use food grade diatomaceous earth powder, and they won’t step foot in your apartment again! That’s what worked for me. If you don’t have reserved parking, it’s pretty hard to find if you come home late. At least a spot close to your building. I got reserved parking recently and it made things much easier. It’s also not gated, so just be extra cautious with locking your car and what you leave inside of it. All in all, I think it’s an amazing place to live. The things I’ve listed aren’t even everything I love here! You just cant beat the price. Very grateful!
Marco who is head of maintenance here at The Domain is absolutely wonderful! Him and his crew are extremely efficient in getting all the request done in a timely manner. They are all very kind, thank you Marco for fixing my dryer :)
I have live here for about 8months and I love it. If you need anything done for you literally speak to Renee Thompson. She is best, . She has a heart to help and proffer solution and very soft spoken. Thank you for all you do Renee
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