9019 VANTAGE POINT DR, DALLAS, TX, 752433581
$5,895,000
2025 Appraised Value
↑ 0.0% from prior year
The core challenge is a structural mismatch between valuation and market fundamentals. The $5.9M appraisal ($44.7K/unit) sits 63.9% above the estimated $3.6M sale price, signaling either stale valuation or a property in functional distress despite stabilized ownership tenure. Current debt of $2.52M ($19.1K/unit) at 70% projected LTV masks deteriorating submarket dynamics: 69.3% renter concentration and bottom-heavy income distribution ($37.5% under $50K HHI) limit pricing power, while rising local vacancies suggest competitive attrition from existing stock rather than new supply. The property's car-dependent location (Walk Score 45, Transit Score 56) and sparse amenity disclosure further constrain NOI upside, and recent Google review volatility (2.0→5.0 rating with only 5 total reviews citing management friction) raises operational governance questions. Recommendation: Watch-list pending appraisal reconciliation and actual NOI disclosure. If true value is $3.6M with serviceable debt coverage, the acquisition could pencil as a workforce-stabilized hold; if the appraisal reflects distressed carrying cost, pass until forced liquidity surfaces a 50%+ discount to replacement cost.
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Location Profile Undermines Transit Positioning
With a Walk Score of 45 (car-dependent) and Bike Score of 38, ST JUDE VANTAGE POINTE's transit score of 56 overstates accessibility—good transit coverage cannot overcome poor pedestrian infrastructure for last-mile connectivity. The property's fundamental car dependency limits appeal to transit-oriented renters and constrains NOI upside from reduced parking demand. Without nearby amenity density data or distance to major employment centers, we cannot determine if rent positioning compensates for walkability deficiency; however, the mismatch between transit infrastructure and pedestrian viability suggests either below-market rents for the submarket or misaligned tenant expectations around mobility trade-offs.
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No meaningful supply headwinds. With zero units in the pipeline (0.0% of the 132-unit inventory) and no active construction nearby, this asset faces no near-term competitive pressure from new supply. However, the deteriorating submarket vacancy trend suggests the property may be losing ground to existing competition rather than new deliveries—a rental growth constraint driven by occupancy attrition rather than oversupply.
No multifamily construction permits found within 3 miles
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The property exhibits significant refinancing pressure: current debt of $2.52M ($19.1K per unit) against an estimated sale price of $3.6M implies 70% LTV, but the $5.9M appraisal gap suggests either stale valuation or distressed pricing expectations. The Goldman Sachs loan originated with the February 2018 acquisition at $3.15M consideration—a $0.5M discount to purchase price—and lacks disclosed maturity date and rate data, creating opacity around refinancing runway at current rates. Four transactions in 24 years (including two consecutive stand-alone finance events in 2004–2006) combined with absentee corporate ownership and an 8-year hold without exit signals suggests a stabilized income play rather than distress, though the appraisal-to-sale-price disconnect warrants probing on actual NOI and debt serviceability.
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Estimated from loan records, rental listings, and appraisal data using industry-standard assumptions.
Based on most recent loan: $2,517,100 (Feb 2018, attom)
Computed from nearby properties within 3 miles of similar vintage
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ST JUDE VANTAGE POINTE is a 132-unit garden-style apartment complex built in 1997 with C-masonry construction across three stories, delivering 70.8K SF of leasable area in Dallas. The property is rated in good quality condition with fair current condition, suggesting deferred maintenance or aging systems warrant closer inspection. Located in a car-dependent area (Walk Score 45) with undefined parking configuration and a 3.6 Google rating, indicating moderate resident satisfaction or limited online presence. Amenity package and utility/pet details are not disclosed, requiring further due diligence.
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The 1-mile submarket is workforce-oriented but tightly fitted to the property's positioning: a 24.3% affordability ratio at $65.0K median HHI supports modest rents, while 69.3% renter concentration signals strong local demand depth—the property captures a captive, rent-dependent population. However, the income distribution skews bottom-heavy (37.5% under $50K) versus the broader 3-mile radius (38.2% under $50K), indicating limited upside pricing power and exposure to income volatility. The 5-mile market ($91.8K median HHI, 58.9% renters) reveals a notably affluent outer ring that the property is not positioned to serve, suggesting underperformance relative to the wider trade area's household wealth and lower renter concentration could indicate competitive pressure from class-A product absorbing higher-income cohorts.
Source: US Census ACS 5-Year Estimates (2023) · 4 tracts (1mi)
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Appraisal Analysis: St. Jude Vantage Pointe
The property has flatlined at $5.9M (2025 appraisal), representing $44.7K per unit—a metric that requires benchmarking against comparable Dallas-area '90s-era stock to assess competitiveness. The 27.1% land-to-total-value ratio ($1.6M land; $4.3M improvements) suggests limited redevelopment upside; the building's 28-year-old shell would require substantial capital to justify land value uplift. With zero year-over-year movement and only one appraisal in the data set, we cannot discern whether this reflects market stability or stagnation—prior-year appraisals are needed to establish trend direction and identify any previous distress events.
| Year | Total Value | Change |
|---|---|---|
| 2025 | $5,895,000 | +0.0% |
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St. Jude Vantage Pointe exhibits a sharp rating recovery, but insufficient review volume and evidence of management friction cloud the investment signal. The property rebounded from 2.0 to 5.0 average rating in the trailing six months—driven by three five-star reviews with no text—yet the low absolute count (5 reviews total) limits statistical reliability. The two negative reviews cite restrictive visitor policies and alleged management misconduct (one with an open legal case), suggesting operational or governance issues that transcend typical maintenance complaints. The dramatic swing and sparse detail raise questions about review authenticity and whether management changes have genuinely resolved underlying problems or merely shifted tenant composition.
5 reviews total
It's like the tenants are in jail or a halfway house. They can only have visitors until 8pm and they can only have a visitor if they have an ID. Then they want to take your picture every single time you go over there. You have to sign in and leave your ID there and heaven forbid you're in a hurry to get out because if you can't find anyone at the desk you gotta wait to get your ID. Half the staff are really good people the other half are the Gestapo! The place used to be a hotel and now it's stalag 13 with rooms that have no stove or oven. They have a 2 spot hot plate that won't boil water and a microwave. You get a key fob for your door and if you lock your keys inside there's a $25 fee to get them to let you in. Must be for the inconvenience. This place sucks!!
The case is still open so I cannot speak about the misconduct that the Management Staff has gone to great lengths to ensure that my life at 65 is not a pleasant and secure situation.
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