Low refinancing urgency despite tight leverage. The $14.0M loan originated concurrent with the February 2021 acquisition at $17.5M—a $3.5M equity cushion—but maturity data is absent, preventing assessment of refinancing timeline at current rate environment. Debt-to-value sits at 65.2% against the $21.5M appraisal (70.0% on estimated sale price), reasonable but not defensive; at $53.0K per unit, loan sizing reflects early-cycle underwriting pre-rate shock. Ownership by absentee LLC since 2021 with no secondary transactions signals a hold strategy rather than distress, though the absence of DSCR and loan maturity date warrants clarification before underwriting.

Rosemont at Meadow Lane is priced as a significant value-add or distressed asset, trading at $75.8K/unit versus $150.4K submarket comps—a 49.6% discount that reflects the 11.1% cap rate. The 45.0% opex ratio is healthy for a 20-year-old Class B property, but NOI of $8.4K/unit trails market substantially and suggests below-market rents or elevated vacancy (0.4% is artificially low). The $1.5M gap between appraised value ($21.5M) and estimated sale price ($20.0M) signals either recent value deterioration or a distressed transaction timeline. At current underwriting, the implied 10.3% cap rate versus the 5.7% submarket rate indicates either significant operational upside required to justify acquisition or material risk priced into the deal.

Rosemont at Meadow Lane is a 264-unit, 2-story garden-style apartment community built in 2004 with wood frame construction and brick exterior, totaling 470.4K SF across a net leasable area of 301.1K SF. Units feature 9-foot ceilings, fully-equipped kitchens with pantry, and private patios/balconies; the property maintains good condition with amenities spanning a resort pool, barbecue areas, gated access, and an activities coordinator. Located near Fair Park with a walk score of 57, the property benefits from Dallas urban proximity while maintaining car-dependent site orientation. No utility inclusion or pet policy data available; parking type not specified.

Rosemont at Meadow Lane is pricing significantly below market across all unit types, with 2-bed asking rents at $1.275K versus $1.867K submarket average—a 31.8% discount that suggests either distressed positioning or data anomaly. The property shows minimal leasing activity (1 active listing, 7 available units of 264 total, 2.7% availability), with flat rent trajectory across recent comparable leases (both 2-bed at $1.275K in March 2026 and December 2025). Absence of concession data and limited bedroom mix reporting (only 2-bed visible) restricts deeper analysis, but the rent compression relative to market benchmarks warrants verification of unit condition, lease terms, and actual in-place rent roll before drawing conclusions on operational performance.

Rosemont sits in a subprime workforce-housing pocket with limited upside beyond current rent. The 1-mile affordability ratio of 30.8% signals strain for the immediate neighborhood—renters earning $49.1K median household income are spending roughly 31% of gross on $1,275/month rent, near the upper bound of underwriting tolerance. The 3-mile ring ($52.1K income, 29.1% ratio) shows marginal relief, but the income distribution tells the real story: 48% of 1-mile households earn under $50K, compared to just 47.5% in the 5-mile radius. This concentration of sub-$50K earners severely constrains pricing power.

The 62.7% renter occupancy in the 3-mile radius and 48% in the immediate 1-mile footprint indicate healthy supply-demand for the asset class, though the 1-mile skew toward owner-occupied units suggests competitive pressure from single-family alternatives for higher-income renters. The 5-mile macro shows a materially wealthier market ($68.9K median, 24.1% affordability ratio, 18.6% earning $150K+), but that affluence is too distant to support meaningful rent growth at this address—Rosemont is anchored to its immediate, lower-income submarket.

Data Quality Issue: This property reports 264 total units but only one unit in the dataset (a 2BR at $1.275K). The unit mix is structurally incomplete—zero studios, one-bedrooms, and three-bedroom-plus units are implausible for a 260-unit garden-style property built in 2004. Either the listing data is severely truncated or the property records are corrupted. Cannot assess concentration, rent progression, or demographic alignment without complete unit-level information. Recommend data validation before any analytical conclusions.

Appraisal Analysis: Rosemont at Meadow Lane

The property appreciated 6.0% YoY to $21.5M, translating to $81.4K per unit—solid for a 21-year-old asset in a stabilized market. Land represents only 4.0% of total value ($855.3K), reflecting minimal redevelopment optionality; the improvement-heavy structure ($20.6M) suggests limited upside from repositioning or densification. Single-year snapshot limits trend assessment, but the modest appreciation rate and negligible land value indicate this is a mature, fully-amortized hold rather than a value-add or development play.