MISSION FAIRWAYS APTS
801 IH 30, MESQUITE (DALLAS CO), TX, 751501411
$31,749,850
2025 Appraised Value
↑ 2.5% from prior year
MISSION FAIRWAYS APTS – Executive Investment Overview
Mission Fairways presents a **watch-list opportunity with operational red flags that require immediate due diligence before commitment. The 220-unit, fully stabilized asset is valued at $31.7M ($144.3K/unit) with zero near-term competitive supply, positioning it defensively against new-build pressure; however, the 50bp Google rating decline over six months—driven by maintenance quality, pest control, and security failures—signals capex depletion or management degradation that could accelerate value leakage if unaddressed. Demographically, the property sits in a mixed-income pocket where the 1-mile radius affords at 28.7% (stretched against $59.6K median income), forcing competition on product quality rather than price; the 3- and 5-mile rings show healthier income profiles ($72.3K–$74.6K medians), but the Walk Score of 36 locks the asset into suburban, car-dependent positioning that caps upside and narrows tenant appeal to families and affordability-focused renters. Unit-level photos reveal opportunistic rather than systematic renovation (70% touched since 2015; 30% remain original), leaving $3M–$5M in selective upgrade value-add; however, the cluster of fair-condition units and dated garden-style exteriors argue against major repositioning returns. Recommendation: Advance to Phase 1 diligence to validate maintenance claims and interview current management; if capex plan and staffing leverage are credible, the flat appraisal trajectory and zero-supply backdrop create a defensible acquisition at a 50–100bp yield cushion; otherwise, pass in favor of higher-growth suburban corridors.
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Mission Fairways boasts an incredible location in the highly sought after community of Mesquite, close to city parks including Lake Ray Hubbard. For the sports enthusiast The Star Entertainment District, FC Dallas' Toyota Stadium, and The Frisco Roughriders Dr. Pepper Ballpark are all nearby. Mission Fairways residents will also have access to some of the best schools in the DFW area at McKinney ISD. You have easy access to the Dallas World Aquarium, American Airlines Center, Perot Museum of Nature & Science, Historic West End and Deep Ellum. Dive into the vibrant Dallas culture with quick access to prime Texas barbecue and regional micro-breweries. We're easily accessible from I-30, making it convenient for residents commuting anywhere in the surrounding Metroplex.
Mission Fairways is a Class B garden-style asset with selective unit renovations creating mixed positioning. Unit finishes skew upgraded (28 of 68 photos rated "upgraded") with consistent modern aesthetics—white quartz countertops, white slab cabinetry, stainless steel appliances, subway tile—but 20 photos show builder-grade conditions and 5 show poor state, indicating ~70% of units have been touched since 2015-2020 while 30% remain original or minimally updated. Bathrooms particularly lag, with basic white subway tile and minimal vanity work in secondary units. Exteriors present dated garden-style architecture (1999 vintage, 1990s-2000s aesthetic) with sparse landscaping and concrete block construction, though amenities—modern fitness center, resort-pool setup, renovated clubhouse—punch above typical B-class quality and suggest recent capital deployment. The fragmented renovation timeline and condition variance (fair/good predominate; 24 of 68 units fair condition) indicate opportunistic upgrade cycles rather than comprehensive repositioning, leaving meaningful unit-level value-add if a buyer pursues standardized finishes across the portfolio.
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AI Analysis
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Location Profile Misaligned with Walkability Reality
Mission Fairways operates in a fundamentally car-dependent market (Walk Score 36, Transit Score 27) with minimal last-mile connectivity—a liability for younger, urban-oriented renters but potentially acceptable for suburban families prioritizing parking and school access. The modest bike score of 47 suggests limited cycling infrastructure despite Mesquite's flatter terrain. Without average rent data, we cannot assess whether the property commands a discount reflecting this suburban positioning or if pricing assumes walkability premiums that the location cannot support. Proximity to employment centers and amenity density should be validated on-site; these scores alone suggest tenant appeal relies on affordability, family orientation, and car-convenience rather than lifestyle amenities.
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Zero pipeline risk, but deteriorating submarket fundamentals demand caution. Mission Fairways faces 0.0% competitive supply in the pipeline with no active construction nearby, eliminating near-term occupancy pressure. However, the deteriorating vacancy trend suggests demand-side weakness that could persist regardless of new supply—existing inventory is already softening, indicating the submarket may lack absorption capacity. This combination argues for conservative underwriting on rent growth but positions the asset favorably against future competition.
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
- +2.5%
- Implied Cap Rate ⓘ
- —
- Est. Cap Rate ⓘ
- —
Operating Income
- Gross Potential Rent ⓘ
- —
- Est. Vacancy ⓘ
- —
- Submarket Vac. ⓘ
- 5.3%
- Eff. Gross Income
- —
- OpEx Ratio ⓘ
- 45%
- Est. NOI
- —
- NOI/Unit
- —
Debt & Taxes
- Taxes/Unit ⓘ
- $3,608/yr
- Est. DSCR ⓘ
- —
Submarket Benchmarks
📊Computed from nearby properties within 3 miles of similar vintage
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Property Summary
Mission Fairways is a 220-unit, garden-style brick apartment community built in 1999 across three stories with 227.8K SF gross building area and 199.9K SF leasable area. The property carries excellent quality and good condition ratings, though parking type is not specified and no utility or pet policy details are provided. Located in Mesquite (Dallas County), the asset sits proximate to Lake Ray Hubbard, The Star Entertainment District, and McKinney ISD schools, though its 36 walk score reflects typical suburban Dallas automobile dependency.
Property Details
- Account #
- 380874500A0010000
- Market
- Dallas County, TX
- Building Class
- APARTMENT (BRICK EXTERIOR)
- Building Style
- Garden
- Construction
- D-WOOD FRAME
- Quality
- EXCELLENT
- Condition
- GOOD
- Stories
- 3
- Gross Building Area
- 227,828 SF
- Net Leasable Area
- 199,912 SF
- Neighborhood
- UNASSIGNED
- Last Sale
- February 08, 2022
- Place ID
- ChIJyXtw0mmmToYRdcmdP9h-Vtc
- Business Status
- Operational
- Enriched
- about 2 months ago
Owner Information
- Owner
- 801 INTERSTATE MESQUITE LLC
- Mailing Address
-
LUBBOCK, TEXAS 794241523
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Rental Performance
Available Units Over Time
Latest Scrape (Mar 24, 2026)
Fees
| Unit | Beds | Baths | Sqft | Rent | Status | Listed | Days |
|---|---|---|---|---|---|---|---|
| #1218 | 1BR | 1 | 924 | — | Inactive | Mar 24 | — |
| #1112 | 1BR | 1 | 725 | — | Inactive | Mar 24 | — |
| #1211 | 1BR | 1 | 924 | — | Inactive | Mar 24 | — |
| #1111 | 1BR | 1 | 924 | — | Inactive | Mar 24 | — |
| #812 | 1BR | 1 | 725 | — | Inactive | Mar 24 | — |
| #614 | 1BR | 1 | 725 | — | Inactive | Mar 24 | — |
| #211 | 1BR | 1 | 725 | — | Inactive | Mar 24 | — |
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Demographics
Affordability Risk in Immediate Submarket; Broader Market Supports Mid-Market Positioning
The 1-mile radius presents a structural affordability challenge: a 28.7% ratio against $59.6K median income indicates rent levels are stretched for the immediate neighborhood, with 46.2% of households earning under $50K. However, the 3-mile and 5-mile rings show healthier fundamentals—median incomes of $72.3K and $74.6K with affordability ratios of 26.0% and 24.0%—suggesting the property must compete on product quality and amenities rather than price positioning. The dramatic income distribution shift (20.2% sub-$25K in 1-mile vs. 14.4% in 3-mile) signals Mission Fairways sits in a mixed-income pocket; the wider market tilts toward household earners in the $50K–$100K+ bands (52.7% at 3-mile radius). Renter concentration of 56.5% immediately surrounding the property indicates solid demand depth locally, though this softens to 46.4% and 41.1% as radius expands—typical for urban-core positioning.
1-Mile Radius
- Population
- 12,303
- Households
- 5,358
- Avg Household Size
- 2.31
- Median HH Income
- $59,553
- Median Home Value
- $252,720
- Median Rent
- $1,424
- % Renter Occupied
- 56.5%
- Affordability
- 28.7% (rent/income)
- Income Distribution
-
<$25k $150k+
3-Mile Radius
- Population
- 109,236
- Households
- 38,922
- Avg Household Size
- 2.88
- Median HH Income
- $72,334
- Median Home Value
- $227,883
- Median Rent
- $1,565
- % Renter Occupied
- 46.4%
- Affordability
- 26.0% (rent/income)
- Income Distribution
-
<$25k $150k+
5-Mile Radius
- Population
- 274,184
- Households
- 93,364
- Avg Household Size
- 3.01
- Median HH Income
- $74,639
- Median Home Value
- $242,157
- Median Rent
- $1,494
- % Renter Occupied
- 41.1%
- Affordability
- 24.0% (rent/income)
- Income Distribution
-
<$25k $150k+
Source: US Census ACS 5-Year Estimates (2023) · 3 tracts (1mi)
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Appraisal History
Appraisal Summary – Mission Fairways Apts
The property appreciated 2.5% year-over-year to $31.7M, translating to $144.3K per unit—modest growth suggesting a stabilized asset in a flat or moderately favorable market. The improvement-to-land ratio of 96.3% to 3.3% indicates minimal redevelopment upside; this is a fully depreciated operational property with minimal teardown value. With only one appraisal on record, we cannot assess whether this 2025 figure reflects recent market repricing or cyclical volatility, limiting our ability to benchmark against comparable distress patterns or identify entry windows.
| Year | Total Value | Change |
|---|---|---|
| 2025 | $31,749,850 | +2.5% |
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Google Reviews
Rating deterioration and operational inconsistency undermine investment thesis. The 50bp decline from 4.3 to 3.8 over six months signals emerging operational friction, with the 1-star cohort (30 reviews, 14.0% of total) clustering around maintenance quality, pest control, and security infrastructure—areas typically tied to capex depletion or management capacity constraints. While leasing staff (Q, Valerie, Luke) consistently earn praise, negative reviews expose a bifurcated operation: maintenance complaints reference "patch work" repairs and roach sightings (Feb/Mar 2025), while gate/security failures persist despite stated rent increases. The concentration of 5-star reviews appears driven by individual staffers rather than systematic property management, creating execution risk if key personnel turn over.
Rating Distribution
209 reviews total
Rating Trend
Reviews
Ms.Q is amazing . Her detail in explaining the process of the apartments. She is very honesty. Her smile brightens your day. She is patient and kind. She made me feel welcomed. She answered and concerns or questions. Can't wait to move and call this home. Thanks ms. Q YOU ROCK
Owner response
Thank you so much for your kind words! We’re thrilled to hear about your wonderful experience with Ms. Q. She truly takes pride in making everyone feel welcome, informed, and supported, and your feedback means the world to us. We’re so excited for you to move in and make this your new home—welcome to the community! 😊
Worked with Laura and she was amazing!!! It did not take me long to decide this is where I wanted to live because of her! She has been so much help in this whole process, and I couldn't have asked for better service!
Update: Q has also been SO GREAT during my move in process! She is so helpful!
Owner response
Hi Shelby,
Thank you for leaving this fantastic review and for recognizing Laura! We love hearing that she made such a significant impact, and we appreciate you choosing Mission Fairways to call home. We’re grateful to have you as part of our community. Please don’t hesitate to reach out if there’s anything you need.
- Mission Fairways Management
Owner response
Hi Adriana,
Thank you for taking the time to leave a review. We value your feedback and would love the opportunity to connect and learn how we can make your experience a 5-star one. Please reach out to me directly at missionfairwaysmgr@greystar.com. I would be happy to speak with you.
- Mission Fairways Management
Owner response
Thank you so much for your 5-star review! We’re thrilled to hear you’re enjoying your experience at Mission Fairways. Our team works hard to create a comfortable, welcoming community, and it means a lot to know we’re hitting the mark. If there’s ever anything you need, we’re always here to help!
Thank you for being a valued part of our community!
Management Team-
Mission Fairways.
Owner response
Nikki,
Thank you for your review. I would like to speak with you regarding your experiences at our community.
Please reach me directly at gina.kostansek@greystar.com
I look forward to hearing back from you soon.
Sincerely,
Gina Kostansek
Greystar- RPM
gina.kostansek@greystar.com
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Data Sources
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