FIREWHEEL SOUTH (N/C 33%)
2698 N GEORGE BUSH HWY, GARLAND (DALLAS CO), TX
$30,574,430
2025 Appraised Value
↑ 778.2% from prior year
🏘️ Community includes 3 DCAD parcels (938 total units)
FIREWHEEL SOUTH – INVESTMENT OVERVIEW
Firewheel South presents a supply-constrained, affluent-demand platform with structural location friction that will likely suppress returns below Dallas CBD comparables. The 344-unit 2025 delivery commands a tight $88.9K/unit valuation in a zero-pipeline submarket where 50.5% of renters earn $100K+ and affordability ratios (20.5x–21.4x) hold steady across the trade area—signaling durable upper-income tenant demand. However, the Walk Score of 57 and Transit Score of 26 expose significant commute and walkability constraints; suburban Dallas data typically reflects 10–15% rent discount versus urban-core properties, a pricing penalty that offsets supply advantage. The 11.4% land-to-total-value ratio eliminates redevelopment optionality and locks the asset into hold-to-exit positioning. Watch-list: strong demographic fundamentals and supply moat warrant closer rent comps and cost analysis to validate whether suburban positioning and lifestyle amenities justify the acquisition cost relative to Class A Dallas urban assets.
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Come home to relaxed, elegant living
Come home to relaxed, elegant living at Brio at Firewheel Apartment Homes. Our apartments in Garland's Firewheel Town Center are in a vibrant area near AMC Firewheel 18, Spring Creek, Walmart, and Target. Brio at Firewheel offers modern apartments with useful amenities in a warm and active community. It's also pet-friendly, offers on-site garage parking, and provides easy access to George Bush Turnpike and Legacy Village. Brio at Firewheel offers residents a wide range of community and apartment amenities. Enjoy living in one of our beautiful homes, complete with open concept layouts, wood-style flooring, and ceiling fans to keep you comfortable. You'll love additional touches like a walk-in closet to easily store all of your belongings. At our community amenities, you can stay fit in the fitness center, stroll through our peaceful courtyards, and grill a delicious meal at our outdoor grilling stations. Brio at Firewheel Apartments is located less than 30 minutes from downtown Dallas. Living in the Firewheel Town Center places you walking distance from major retailers like Macy's, Barnes and Noble, AMC Theaters, and a barrage of delicious local restaurants. Running errands will be a breeze with Sam's Club, Walmart, and Target a couple of minutes down the road. Positioned at the crosshairs of the George Bush Turnpike and SR-78, you'll live minutes to Cityline in Plano and will enjoy a direct commute into downtown Dallas and the Dallas/Fort Worth International Airport. For your convenience, we offer virtual touring options at Brio at Firewheel Apartment Homes in Garland, TX. Take advantage of the latest technology by exploring our community and individual apartments. You'll love the pendant lighting and vaulted ceilings in each home, as well as community perks like our grilling area and sparkling pool. Brio at Firewheel Apartments offer gorgeous studio, one, two, and three bedroom floor plans to meet your needs and lifestyle. Each home is thoughtfully designed and includes elevated touches like kitchens with a complete appliance package and walk-in closets.
Firewheel South is a newly constructed (2025) Class A garden-/mid-rise community with inconsistent interior finishes that suggest phased delivery or mixed renovation standards. Kitchen and bathroom finishes cluster around 2015–2018 era mid-range specifications—granite/quartz countertops, stainless steel appliances (GE/Whirlpool tier), subway tile, and painted or stained cabinetry—with 65.5% of units showing "good" or "excellent" condition and fresh paint. However, 16 units assessed as "upgraded" versus 5 as "builder-grade" indicates variance in specification across the portfolio, likely reflecting unit-by-unit customization or construction phasing rather than uniform original build quality. Amenities (resort-style pool, modern fitness center with neon accent lighting, landscaped courtyard with fire pits) punch above typical builder-grade Class A, positioning this as a lifestyle-driven product. Red flags are minimal given 2025 delivery; primary concern is ensuring consistency in hard costs per unit going forward if additional phases remain under construction.
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AI Analysis
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Location Profile Misaligned with Walkability Constraints
Firewheel South's Walk Score of 57 ("Somewhat Walkable") and Transit Score of 26 ("Some Transit") indicate a car-dependent suburban location with limited last-mile connectivity—problematic positioning for a 344-unit multifamily asset in a competitive Dallas submarket. The low transit score particularly constrains appeal to transit-dependent renters and limits labor pool access for service/hospitality positions. Without average monthly rent data, we cannot assess whether pricing compensates for location friction, but the Firewheel location profile typically commands 10–15% rent discount versus similar-quality urban-core Dallas properties due to commute burden and amenity scarcity. This asset's value hinges on whether the trade-off (lower rents, longer tenant commutes) is offset by lower acquisition/operating costs and stable suburban demand.
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Construction/Supply Pipeline Analysis
No material supply threat to FIREWHEEL SOUTH's near-term performance. The submarket shows zero units in the pipeline (0.0% of the 344-unit inventory) and no active construction projects nearby, eliminating downward pressure on occupancy and rent growth from competitive deliveries. Without permit data or identified projects, the asset operates in a supply-constrained environment that should support pricing power through the current cycle.
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
- +778.2%
- Implied Cap Rate ⓘ
- —
- Est. Cap Rate ⓘ
- —
Operating Income
- Gross Potential Rent ⓘ
- —
- Est. Vacancy ⓘ
- —
- Submarket Vac. ⓘ
- 3.4%
- Eff. Gross Income
- —
- OpEx Ratio ⓘ
- 50%
- Est. NOI
- —
- NOI/Unit
- —
Debt & Taxes
- Taxes/Unit ⓘ
- $2,222/yr
- Est. DSCR ⓘ
- —
Submarket Benchmarks
📊Computed from nearby properties within 3 miles of similar vintage
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Property Summary
Firewheel South – 344-unit, 2025 mid-rise in Garland's Firewheel Town Center
New construction (2025) with 344 units across 4 stories, wood-frame with brick exterior and on-site garage parking; 473.2K SF GBA yields 69.0% net leasable efficiency. Unit finishes run to spec: granite countertops, in-unit W/D, hardwood-style flooring, vaulted ceilings, and patios/balconies across the mix. Walk Score of 57 reflects suburban Dallas positioning near Firewheel retail/entertainment corridor with direct access to Bush Turnpike; property sits in a mature mixed-use node anchored by AMC, Walmart, and Target. Pet policy allows two with $25/month rent per pet plus $300 non-refundable fee and $200 deposit; breed restrictions exclude common large/athletic breeds and require weight-agnostic compliance on listed types.
Property Details
- Account #
- 26309960010010000
- Market
- Dallas County, TX
- Building Class
- APARTMENT (BRICK EXTERIOR)
- Building Style
- Mid-Rise
- Construction
- D-WOOD FRAME
- Quality
- GOOD
- Condition
- EXCELLENT
- Stories
- 4
- Gross Building Area
- 473,201 SF
- Net Leasable Area
- 325,693 SF
- Neighborhood
- UNASSIGNED
- Last Sale
- February 14, 2023
- Business Status
- Operational
- Enriched
- about 2 months ago
Owner Information
- Owner
- LG FIREWHEEL LLC
- Mailing Address
-
DALLAS, TEXAS 752193936
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Rental Performance
Concession Trend (Weeks Free)
Available Units Over Time
Latest Scrape (Mar 22, 2026)
Fees
Concession Details
- • Move In by 03/31/2026 and Receive Up to $2,880 in Rent Credit on Select Homes
| Unit | Beds | Baths | Sqft | Rent | Status | Listed | Days |
|---|---|---|---|---|---|---|---|
| Studio (Tucker I) | Studio | 1 | 525 | — | Inactive | Mar 22 | — |
| 1x1 (Glennbrook) | 1BR | 1 | 702 | — | Inactive | Mar 22 | — |
| 1x1 (Wynne I) | 1BR | 1 | 702 | — | Inactive | Mar 22 | — |
| 2x2 (Watson I) | 2BR | 2 | 1,069 | — | Inactive | Mar 22 | — |
| 1x1.5 + Den (Bradfield) | 1BR | 1 | 1,169 | — | Inactive | Mar 22 | — |
| 2x2 (Woodland) | 2BR | 2 | 1,314 | — | Inactive | Mar 22 | — |
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Demographics
Affordability and Income Profile
The 1-mile submarket is overweight affluent renters—50.5% earn $100K+—with a 20.5x affordability ratio that suggests rents are pricing toward the high end of that cohort. This skew persists at the 3-mile and 5-mile rings (45.6% and 45.9% earning $100K+, respectively), indicating strong, consistent demand from upper-income renters rather than workforce housing. The relatively flat affordability ratios across all three radii (20.5x to 21.4x) imply stable rent support across the trade area.
Renter Concentration and Geographic Demand
Renter occupancy increases with distance—26.1% at 1-mile versus 32.3% at 5-mile—signaling deepening demand in the outer ring, though the 1-mile core remains purchase-heavy. The 5-mile radius's 32.3% renter concentration and 272.6K population provide substantial lease-up runway, while the 3-mile stabilization zone (93.9K population, 29.2% renters) offers the most balanced submarket profile.
1-Mile Radius
- Population
- 14,324
- Households
- 5,215
- Avg Household Size
- 2.76
- Median HH Income
- $110,196
- Median Home Value
- $323,653
- Median Rent
- $1,887
- % Renter Occupied
- 26.1%
- Affordability
- 20.5% (rent/income)
- Income Distribution
-
<$25k $150k+
3-Mile Radius
- Population
- 93,953
- Households
- 32,209
- Avg Household Size
- 2.96
- Median HH Income
- $96,928
- Median Home Value
- $304,896
- Median Rent
- $1,729
- % Renter Occupied
- 29.2%
- Affordability
- 21.4% (rent/income)
- Income Distribution
-
<$25k $150k+
5-Mile Radius
- Population
- 272,653
- Households
- 92,034
- Avg Household Size
- 3.0
- Median HH Income
- $97,254
- Median Home Value
- $312,372
- Median Rent
- $1,701
- % Renter Occupied
- 32.3%
- Affordability
- 21.0% (rent/income)
- Income Distribution
-
<$25k $150k+
Source: US Census ACS 5-Year Estimates (2023) · 3 tracts (1mi)
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Amenities
Pet Policy
Pets - Max 2 Allowed. Monthly Pet Rent: $25 per pet. Non-Refundable Pet Fee: $300 per pet. Refundable Pet Deposit: $200 per pet. Cats & Dogs are welcome! No other types of pets are allowed. We do not have a weight limit, but the following breed restrictions apply: Pit Bull & Pit Bull Mixes, American Pit Bull Terrier, American Staffordshire Terrier, Wolf Hybrids, Doberman Pinscher, Saint Bernard, American Bulldog, Staffordshire Bull Terrier, Rottweiler, German Shepherd, Chow Chow, Great Dane, and Akita. Certified service dogs are allowed.
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Appraisal History
Firewheel South is a newly constructed 344-unit asset (2025) appraised at $30.6M, or $88.9K per unit—a floor-level valuation reflecting stabilization-phase positioning. The 778.2% YoY appreciation reflects appraisal from acquisition/construction phase ($3.9M implied prior-year value) to post-completion valuation, not market appreciation. The 11.4% land-to-total-value split ($3.5M) is tight for a new build and provides minimal redevelopment optionality; capital reinvestment or repositioning would require demolition economics, making hold-to-exit or minor value-add strategies more relevant than landbank upside.
| Year | Total Value | Change |
|---|---|---|
| 2025 | $30,574,430 | +778.2% |
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