LAKEVIEW AT PARKSIDE
3990 SPRING VALLEY RD, FARMERS BRANCH, TX, 752443481
$48,952,880
2025 Appraised Value
↑ 4.1% from prior year
📍 This parcel is part of the LAKEVIEW AT PARKSIDE community — scraped data shown is for the full community.
EXECUTIVE SUMMARY – LAKEVIEW AT PARKSIDE
The $48.95M valuation ($177.8K/unit) signals a stabilized, operationally-focused asset with minimal repositioning upside; the 15.2% land value allocation rules out meaningful redevelopment optionality. The critical risk is demand mismatch: the 1-mile renter pool (86.5% occupancy, $74.4K median HHI, 29.6% affordability ratio) is stretched to current rent levels, while the property's weak transit score (34) and car-dependent location (Walk Score 56) limit appeal to higher-income 3-mile renters ($89.3K median HHI) who have superior alternatives. Zero-unit supply pipeline removes lease-up competition, but deteriorating occupancy trends point to underlying demand softening rather than temporary supply dynamics—a headwind that persists regardless of new deliveries. With modest appreciation (4.1% YoY), limited land value, and a tenant base already at affordability strain in a weakening submarket, this property reads as a stabilized hold rather than an acquisition target. Recommendation: Watch-list pending occupancy stabilization and clearer rent sustainability metrics at the 1-mile income cohort.
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AI Analysis
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Walkability Profile Misaligned with Suburban Dallas Location
The 56 walk score reflects Farmers Branch's car-dependent suburban character, though the notably strong 71 bike score suggests viable cycling infrastructure for fitness-conscious or cost-conscious commuters avoiding vehicle use. The anemic 34 transit score indicates limited appeal for downtown Dallas workers—a critical constraint for a 275-unit asset competing on convenience rather than price. Without rent data, we cannot confirm whether management has adjusted positioning downward to reflect this location's dependence on personal vehicle ownership and car-sharing tenants.
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Supply Pipeline: Minimal competitive threat, but deteriorating submarket fundamentals warrant caution. Zero units in the nearby pipeline (0.0% of existing 275-unit inventory) eliminates new supply pressure on occupancy and near-term rent growth. However, the deteriorating vacancy trend suggests demand softening is the primary headwind rather than incoming competition—a distinction that matters for underwriting assumptions around lease-up velocity and rate resilience if the property undergoes renovation or repositioning. Monitor submarket fundamentals closely, as weakness may persist even without new deliveries.
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
- +4.1%
- Implied Cap Rate ⓘ
- —
- Est. Cap Rate ⓘ
- —
Operating Income
- Gross Potential Rent ⓘ
- —
- Est. Vacancy ⓘ
- —
- Submarket Vac. ⓘ
- 5.6%
- Eff. Gross Income
- —
- OpEx Ratio ⓘ
- 45%
- Est. NOI
- —
- NOI/Unit
- —
Debt & Taxes
- Taxes/Unit ⓘ
- $4,450/yr
- Est. DSCR ⓘ
- —
Submarket Benchmarks
📊Computed from nearby properties within 3 miles of similar vintage
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Property Summary
Lakeview at Parkside is a 275-unit garden-style apartment community built in 1997 and located in Farmers Branch, TX, a suburban market north of Dallas with moderate walkability (Walk Score: 56). The three-story brick exterior property totals 247.1K SF in gross building area with good physical condition and quality ratings. Construction is wood-frame, typical for mid-1990s multifamily development, with no notable amenity suite or utility inclusions documented. Parking type and unit-level finishes are not specified in available records.
Property Details
- Account #
- 242296100A0010000
- Market
- Dallas County, TX
- Building Class
- APARTMENT (BRICK EXTERIOR)
- Building Style
- Garden
- Construction
- D-WOOD FRAME
- Quality
- GOOD
- Condition
- GOOD
- Stories
- 3
- Gross Building Area
- 247,120 SF
- Net Leasable Area
- 253,505 SF
- Neighborhood
- UNASSIGNED
- Last Sale
- November 06, 2003
- Business Status
- Operational
- Enriched
- about 2 months ago
Owner Information
- Owner
- LAKEVIEW AT PARKSIDE
- Mailing Address
-
PARTNERSSANTA ANA, CALIFORNIA 927055721
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Demographics
Lakeview at Parkside occupies a dense urban core with outsized renter demand but limited income support at the 1-mile level. The immediate submarket is 86.5% renter-occupied with median HHI of $74.4K, yet the affordability ratio of 29.6% suggests rents are pitched at or above this cohort's sustainable levels—a red flag if unit mix skews toward market-rate rather than workforce product. The 1-mile income distribution is bottom-heavy (28.2% under $50K) compared to the 3-mile radius (26.3%), indicating the property relies on a lower-income renter pool with limited upside to rent growth. However, the 3-mile radius presents materially stronger fundamentals: median HHI rises to $89.3K with a 21.6% affordability ratio, suggesting the property can capture higher-quality renters from the broader trade area. At 5 miles, income distribution right-shifts substantially (40.8% earning $100K+), but renter concentration drops to 54.1%, indicating the property's competitive set extends beyond pure multifamily demand into urban-suburban boundary dynamics.
1-Mile Radius
- Population
- 10,679
- Households
- 5,979
- Avg Household Size
- 1.79
- Median HH Income
- $74,442
- Median Home Value
- $336,886
- Median Rent
- $1,835
- % Renter Occupied
- 86.5%
- Affordability
- 29.6% (rent/income)
- Income Distribution
-
<$25k $150k+
3-Mile Radius
- Population
- 135,625
- Households
- 62,164
- Avg Household Size
- 2.3
- Median HH Income
- $89,280
- Median Home Value
- $351,926
- Median Rent
- $1,606
- % Renter Occupied
- 61.7%
- Affordability
- 21.6% (rent/income)
- Income Distribution
-
<$25k $150k+
5-Mile Radius
- Population
- 339,006
- Households
- 145,598
- Avg Household Size
- 2.46
- Median HH Income
- $97,292
- Median Home Value
- $424,281
- Median Rent
- $1,587
- % Renter Occupied
- 54.1%
- Affordability
- 19.6% (rent/income)
- Income Distribution
-
<$25k $150k+
Source: US Census ACS 5-Year Estimates (2023) · 3 tracts (1mi)
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Appraisal History
Appraisal Analysis – Lakeview at Parkside
Current appraised value of $48.95M reflects modest 4.1% YoY appreciation, translating to $177.8K per unit—modest for a 1997-vintage 275-unit asset in a competitive market. Land represents only 15.2% of total value ($7.46M), limiting redevelopment optionality; the 84.8% improvement allocation suggests the value thesis is operational rather than repositioning-driven. Single appraisal snapshot prevents trend assessment, but the modest per-unit valuation and low land split indicate this is a stabilized cash-flowing asset with limited value-add or tear-down potential.
| Year | Total Value | Change |
|---|---|---|
| 2025 | $48,952,880 | +4.1% |
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