EVERRA MIDTOWN PARK

8240 MEADOW RD, DALLAS, TX, 75231

APARTMENT (BRICK EXTERIOR) Mid-Rise 422 units Built 2016 4 stories ★ 4.1 (594 reviews) 🚶 55 Somewhat Walkable 🚌 52 Good Transit 🚲 48 Somewhat Bikeable

$75,700,000

2025 Appraised Value

↓ 2.9% from prior year

EVERRA MIDTOWN PARK – EXECUTIVE SUMMARY

The 2.9% YoY appraisal decline to $75.7M ($179.4K/unit) on a stabilized 2016-vintage asset signals operational and market headwinds rather than cyclical correction, compounded by a recent management transition (Luma Residential ~6 months ago) that has triggered measurable service degradation—security gate failures, pest complaints, and unresponsive leasing staff driving a 4-month Google rating drop from 4.6 to 4.4. Demographically, the property anchors a lower-income 1-mile core ($85.6K median HHI, 78.5% renters, 35.7% sub-$50K earners) with tight rent-to-income alignment at 17.7% affordability ratio, limiting pricing power without displacement risk; surrounding rings show wealthier, ownership-oriented profiles that diverge sharply from Everra's captive tenant base. Physical plant remains Class A—78.2% of units rated excellent with consistent premium finishes and 2018–2020 capital cycle completed—but Walk Score of 55 and Transit Score of 52 undermine competitive positioning relative to peers; absence of transit improvements in near-term weakens value capture. With minimal new supply pipeline (0.24% net adds), rent pressure stems from operational execution and broader market softening rather than direct competition, but management instability and the appraisal decline warrant immediate investigation into post-transition occupancy, renewal spreads, and retention—particularly dependency on individual staff members (William/Herman) for tenant satisfaction. Recommendation: Watch-list, contingent on management stabilization data and Q4 occupancy trends; operational turn-around is achievable but execution risk is elevated.

AI overview · Updated 4 days ago
Abstract Notes

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Luxury apartment community in the Vickery Meadow neighborhood near US-75 and I-635, offering exceptional connectivity to Downtown Dallas, Uptown, shopping, dining, entertainment, and outdoor recreation. Located near White Rock Lake, NorthPark Center, and close to Love Field Airport and DFW International Airport. Everra Midtown Park is located in North Dallas, positioned within the evolving Midtown Dallas district. This area blends established residential pockets with new mixed-use development, offering strong commuter access and proximity to major healthcare and business corridors.

EVERRA MIDTOWN PARK: Class A Newly Built with Consistent Premium Finishes

This 2016-built, 422-unit mid-rise demonstrates exceptional physical condition across 86 analyzed photos, with 78.2% of units rated "excellent" and 64 kitchen observations revealing consistent spec: white quartz counters (all 12 identified), dark espresso/charcoal modern slab cabinetry, mid-to-premium stainless steel appliances, and recessed lighting. Renovations clustered in 2018–2020 (40 observations) suggest a planned capital refresh cycle rather than piecemeal value-add, with no evidence of partial unit disparities—hallmark of Class A institutional asset. Amenities align with positioning: resort-style pool, contemporary fitness center with integrated design, and landscaped courtyards in excellent condition. No material red flags; exterior shows clean contemporary architecture with well-maintained facade and ground-level retail activation, positioning this as a stabilized, premium property with limited near-term renovation upside.

AI analysis · Updated 21 days ago

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AI Analysis

Location Profile Undermines Unit Economics

Walk Score of 55 and Transit Score of 52 position EVERRA MIDTOWN PARK as car-dependent despite proximity to Midtown Dallas's employment corridor—a structural headwind for rent growth and tenant retention in a market increasingly pricing walkability premiums. The "Somewhat Walkable" rating and mediocre bike infrastructure (48) suggest limited capture of the young professional demographic typically willing to pay top-of-market rents for reduced transportation costs. Without average rent data, we cannot assess whether pricing reflects this mobility constraint, but comparable Midtown properties with Walk Scores >70 command 8-12% rent premiums that EVERRA likely cannot justify at current walkability levels. Asset value hinges on whether transit improvements (DART, streetcar expansion) materially close this competitive gap within the hold period.

AI analysis · Updated 21 days ago
Distance Name Category
📍 7.6 miles from Downtown Dallas
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The 1-unit pipeline represents minimal competitive pressure at 0.24% of Everra's 422-unit inventory, but the deteriorating submarket vacancy trend warrants closer attention to the two permits in review—particularly the Douglas Ave project in plan review stage, which could signal incoming supply once approved. The Park Ln permit, filed over a year ago and still in review, suggests either a stalled project or complex entitlement process that reduces near-term delivery risk. Neither project's scope is detailed, but given the loose pipeline relative to inventory, rent growth headwinds are more likely driven by broader market softening than direct competition from new supply.

AI analysis · Updated 21 days ago
🏗️ 1 permit within 3 mi
0% pipeline
Distance Address Description Status Filed
1.1 mi 8010 PARK LN Construction of a 20 story multifamily building with stru... In Review Nov 21, 2023
Nearby Construction Notes

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Debt Notes

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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
-2.9%
Implied Cap Rate
Est. Cap Rate

Operating Income

Gross Potential Rent
Est. Vacancy
Submarket Vac.
5.0%
Eff. Gross Income
OpEx Ratio
50%
Est. NOI
NOI/Unit

Debt & Taxes

Taxes/Unit
$4,485/yr
Est. DSCR

Submarket Benchmarks

📊

Computed from nearby properties within 3 miles of similar vintage

Submarket Cap Rate
5.45%
Price/Unit Benchmark
$171,409
Rent/SF
$2.08/sf
Financial Estimates Notes

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Property Summary

EVERRA MIDTOWN PARK is a 422-unit, 4-story mid-rise built in 2016 with wood-frame construction and brick exterior, delivering 377.6K SF of net leasable area across an excellent-condition asset. Unit finishes include granite countertops, stainless steel appliances, in-unit W/D, smart home technology, and open-concept layouts with tall ceilings, positioning the property in the upper-middle segment. Parking is via enclosed garage with EV infrastructure available. Located in North Dallas's Vickery Meadow submarket near US-75/I-635 with proximity to White Rock Lake and NorthPark Center; walk score of 55 reflects car-dependent positioning typical of this corridor.

AI analysis · Updated 21 days ago

Property Details

Account #
005213000E0010000
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
436,012 SF
Net Leasable Area
377,640 SF
Neighborhood
UNASSIGNED
Last Sale
April 16, 2025
Place ID
ChIJh-78q-WfToYR9oCweTCJlPo
Business Status
Operational
Enriched
about 2 months ago

Owner Information

Owner
8250 NORTH MEADOW OWNER LLC &
Mailing Address
DALLAS, TEXAS 752546795
Property Notes

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Rental Performance

Submarket Rent Growth
📊 Nearby properties
Vacancy Trend
Deteriorating
📊 RentCast zip-level data
Submarket Rent/SF
$2.08/sf
📊 Nearby properties

Available Units Over Time

Latest Scrape (Mar 22, 2026)

Available
10 units

Fees

Application: Admin: Pet Deposit: Pet Rent Monthly:
🏠 0 active listings | Trend: No data
Unit Beds Baths Sqft Rent Status Listed Days
A- Studio Studio 1 484 Inactive Mar 22
C 1BR 1 Inactive Mar 22
E 1BR 1 724 Inactive Mar 22
F 1BR 1 Inactive Mar 22
G 1BR 1 Inactive Mar 22
I 2BR 2 1,169 Inactive Mar 22
J 2BR 2 Inactive Mar 22
K 2BR 2 1,224 Inactive Mar 22
L 2BR 2 1,295 Inactive Mar 22
M 3BR 2 1,476 Inactive Mar 22
Rental Notes

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Demographics

Income-to-rent alignment is tight across all radii, but the 1-mile core reveals a workforce housing market with rent vulnerability. The 1-mile zone's $85.6K median household income against a 17.7% affordability ratio (matching the 3- and 5-mile averages) masks a critical skew: 35.7% of households earn under $50K, yet only 78.5% are renters—suggesting price-sensitive demand and limited room for rent growth without displacement. The 3-mile ring ($106.4K median, 62.3% renters) and 5-mile ring ($114.5K median, 54.8% renters) show progressively wealthier, more ownership-oriented demographics; the property's ultra-high renter concentration in the immediate submarket (78.5% vs. 62.3% at 3 miles) indicates captive demand but also lower income elasticity. Income distribution skew toward affluence increases sharply beyond 1 mile—26.5% earn $150K+ at 3 miles vs. 18.4% in the core—suggesting Everra Midtown Park serves a lower-income urban core fundamentally different from its surrounding market.

AI analysis · Updated 21 days ago

1-Mile Radius

Population
20,683
Households
10,838
Avg Household Size
1.98
Median HH Income
$85,551
Median Home Value
$195,717
Median Rent
$1,262
% Renter Occupied
78.5%
Affordability
17.7% (rent/income)
Income Distribution
<$25k $150k+

3-Mile Radius

Population
158,777
Households
74,253
Avg Household Size
2.24
Median HH Income
$106,373
Median Home Value
$529,094
Median Rent
$1,583
% Renter Occupied
62.3%
Affordability
17.9% (rent/income)
Income Distribution
<$25k $150k+

5-Mile Radius

Population
393,481
Households
169,392
Avg Household Size
2.42
Median HH Income
$114,532
Median Home Value
$561,050
Median Rent
$1,663
% Renter Occupied
54.8%
Affordability
17.4% (rent/income)
Income Distribution
<$25k $150k+

Source: US Census ACS 5-Year Estimates (2023) · 7 tracts (1mi)

Demographics Notes

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Unit Mix Notes

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Amenities

Pet Policy

Pet-friendly policies welcome your furry family members

Amenities Notes

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Appraisal History

Appraisal Analysis: EVERRA MIDTOWN PARK

The property declined 2.9% YoY to $75.7M, translating to $179.4K per unit—a red flag in a stabilized 2016-vintage asset suggesting either market softening or property-specific headwinds rather than cyclical correction. The improvement-to-land ratio of 87.5% to 12.5% indicates minimal redevelopment optionality; the land carries only $22.5K per unit, leaving little value outside the current structure. With only a single appraisal point, trend directionality is unclear, but the negative YoY move warrants investigation into recent occupancy, rent trajectory, or capital deferred before underwriting.

AI analysis · Updated 21 days ago
Year Total Value Change
2025 $75,700,000 -2.9%
Appraisal Notes

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Google Reviews

Rating deterioration masks deeper operational fracture. The 4.1 overall rating obscures a sharp 6-month decline from 4.6 to 4.4, driven by a bimodal distribution: 406 five-star reviews (mostly praising maintenance technicians William and Herman) versus 106 one-star reviews citing systemic failures. Negative reviews cluster around management change (Luma Residential takeover ~6 months ago), with recurring complaints of broken security gates, pest infestation, trash collection failures, and unresponsive leasing staff—suggesting the property suffers from operational degradation rather than asset quality issues. The heavy reliance on individual staff members (William/Herman) to anchor the experience signals management is understaffed or disengaged; their departure would likely trigger ratings collapse and warrant immediate due diligence on management contracts and tenant retention rates.

AI analysis · Updated 4 days ago

Rating Distribution

5★
406 (72%)
4★
25 (4%)
3★
11 (2%)
2★
13 (2%)
1★
106 (19%)

561 reviews total

Rating Trend

Reviews

Janelle Troutman ★☆☆☆☆ Feb 2026

Do Not Move Here. I have been patient. I have extended grace. I have communicated concerns respectfully and repeatedly. At this point, however, the ongoing issues at this complex are not minor inconveniences — they are serious safety and sanitation failures. 1. Security is essentially nonexistent. The gates do not function reliably — in fact, most of the time they do not function at all. The exterior doors are routinely unlocked. This is marketed as a gated community, yet it is openly accessible to anyone at any time. When my father visited for less than 24 hours, his truck was broken into. Unfortunately, that is not an isolated incident. Within the past three months, at least three of my friends who live here have also had their vehicles broken into. During that same time span, the gates have been “fixed” perhaps once. A gated complex without functioning gates is not gated — it is misleading. 2. Sanitation is another ongoing issue. Residents regularly leave household trash in areas designated for dog waste disposal. This is not an occasional oversight; it is a pattern. The trash accumulates directly outside my entrance, meaning I walk past it every morning and every evening. Management’s response has been limited to polite reminder emails. Emails do not remove garbage. Emails do not enforce policy. Accountability does. Residents also frequently leave excess trash piled outside of the main dumpster area instead of placing it inside the containers. It creates an unsightly and unpleasant entrance to the property — no one wants to drive home past overflowing garbage. If this is a recurring issue, management should consider increasing the size or number of trash containers rather than repeatedly sending reminder emails and hoping behavior changes. Separately, there was an instance where a resident left valet trash sitting in the hallway for weeks. It was not a day or two — it was long enough for fruit flies to develop and eventually make their way into my apartment. When I finally moved the trash outside of the building because it was unsanitary and attracting pests, I was told by a team member that I should have left it and allowed management to handle it. My question is: why did it take three weeks for anyone to notice? Why did it require me bringing it forward? Is there not regular monitoring of the property? Are the policies that residents are expected to follow actually being enforced? At some point, the issue is no longer resident forgetfulness — it is a lack of oversight. 3. The mail room is consistently unsecured. Packages are frequently stolen. Mine have been. My roommates’ have been. I should not have to anxiously monitor delivery notifications, hoping to intercept packages before they disappear. If I am paying to live here, I should be able to safely receive mail at my own residence. That is a basic expectation — not a luxury. The pattern here is not one isolated failure; it is systemic neglect. Repeated concerns are met with temporary fixes or gentle reminders, but not meaningful solutions. Install cameras in the parking areas. Repair and maintain the gates. Secure the doors. Lock the mail room. Enforce trash policies. These are fundamental responsibilities of property management, not unreasonable resident demands. I previously left a positive review because I believed these issues would be addressed. They have not been. I regret signing this lease and will not be renewing. Prospective residents deserve transparency. Current residents deserve safety.

Owner response · Jul 2025

Hi Janelle, Thank you so much for taking the time to share your positive experience at Everra Midtown Park! We're thrilled to hear that you're finding Alexandria and the new management team so helpful and that it's made your experience here wonderful. We truly appreciate your kind words.

Noor Ghaffar ★★★★★ Feb 2026

Herman is the BEST maintenance technician ever! I just moved in and he was the biggest help, I can’t convey how grateful I am for his assistance and for also being a warm, positive spirit in a time of need!

Owner response · Feb 2026

Thank you so much for taking the time to share your experience! We’re thrilled to hear that Herman made such a positive impression. He truly cares about our residents, and feedback like yours means the world to our team. We’re grateful to have you as part of our community.

Caroline Carter ★★★☆☆ Feb 2026

I’ve had an overall okay experience living here, but I want to be transparent for anyone considering moving in. I’ve submitted multiple service requests (2–3 times) regarding cockroaches in my apartment. Maintenance has come out and sprayed each time, but the issue has continued. While I appreciate that they responded to the requests, the problem has not been resolved long-term. If pest control and cleanliness are important factors for you when choosing a place to live, I would strongly recommend taking this into consideration.

Owner response · Feb 2026

Hi Caroline, thank you for sharing your experience at Everra Midtown Park. We are sorry to hear about the ongoing pest concerns you've encountered. We appreciate you bringing this to our attention and are committed to finding a resolution. Please reach out to our office at everra@lumapm.com so we can discuss this further and work towards a more permanent solution for you.

Bail Chic ★★☆☆☆ Local Guide Feb 2026

The place has gone down exponentially since the new management took over about 6 months ago. I've lived here for over a year and it is looking quite raggedy. As others have mentioned, the gates are always broken. So are the security doors entering the buildings. Honestly, if I was going to live in a subpar complex I could have paid a lot less. I was first drawn to its quality and now there is absolutely none. I think that Luma has never maintained a property of this scale before because they seem to overlook a lot of things I deem unacceptable. Frankly, I am embarrassed to invite anyone over because the place looks so ghetto.

Owner response · Feb 2026

Hello, we appreciate you taking the time to share your experiences at Everra Midtown Park. We are sorry to hear that your recent experiences have not met your expectations. We are continuously working to improve our community and value your input as we strive to make Everra Midtown Park a place residents are proud to call home. Please feel free to reach out to us at everra@lumapm.com to discuss your concerns further.

Jasper “Jay” Rose ★★★★★ Jan 2026

William was great. Fixed my washer, door, and cabinet

Owner response · Feb 2026

Jay, Thank you so much for the great review! William takes pride in doing a good job for all of our residents and will truly appreciate the feedback. Feel free to reach out if you need anything further!

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Data Sources

Apify Google Places (Scraper)
Last updated: Feb 26, 2026 9 fields
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