JEFFERSON PENINSULA
7165 LAKE RIDGE PKWY, GRAND PRAIRIE (DALLAS CO), TX
$53,500,000
2025 Appraised Value
↑ 3.0% from prior year
JEFFERSON PENINSULA – EXECUTIVE SUMMARY
Jefferson Peninsula presents a compelling acquisition target with a critical location caveat. The 283-unit Class A asset (2023-vintage, $53.5M valuation) commands a narrow but defensible demographic moat—70.6% of the 1-mile radius earns $150K+, with only 7.8% renter occupancy creating acute supply constraints that justify premium positioning. The property's operational excellence is evident in its recent Google rating improvement (4.4→5.0 over six months) and documented maintenance responsiveness, supported by consistently excellent unit finishes (31 of 48 units in premium condition) with no near-term capital requirements. However, the Walk Score of 5 and complete car-dependency present a structural ceiling on upside and tenant pool breadth—this is a suburban asset that works only if the business model accepts discount positioning or targets auto-dependent professional households, both of which compress margin expansion. With zero competing construction pipeline and modest YoY appreciation ($189.0K/unit), the risk-adjusted return hinges entirely on the ability to sustain premium pricing in a walkability-deficient Grand Prairie location; recommend advancing to underwriting phase with detailed rent roll/comparable analysis to validate whether current pricing supports the income demographics, but flag the mobility constraint as a material downside lever if market conditions soften.
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The lifestyle you've been waiting for.
Welcome to Jefferson Cove, the epitome of elevated apartment living in Grand Prairie. Nestled just moments away from the serene shoreline of Joe Pool Lake, this extraordinary community offers a blend of timeless style and modern features. With 283 residences available, ranging from one, two, and three-bedroom luxury apartments for rent in Grand Prairie, TX, you'll find the perfect home to suit your lifestyle. The European-influenced architecture exudes elegance and sophistication, while the thoughtfully designed interiors provide comfort and convenience.
JEFFERSON PENINSULA is a newly constructed (2023) Class A asset with consistently high-end finishes across 283 units, positioning it as a premium product with minimal value-add opportunity. Interior finishes align with the build year: 31 of 48 analyzed units show excellent condition, with 25 upgrades and modern materials (quartz countertops, white painted shaker/slab cabinetry, stainless steel appliances, subway tile backsplash, recessed lighting). Kitchen renovations cluster in the 2018–2022 window, suggesting phased community upgrades post-delivery or select unit turnover—no evidence of partial renovation drag or unit-to-unit inconsistency. Exterior photography documents a well-maintained contemporary mid-rise with light cladding and clean lines; amenities (fitness center, clubhouse with polished concrete/navy accents, outdoor recreation) exceed typical Class A standards. The lone red flag is minimal photo depth on parking (1 photo) and limited balcony imagery, but overall condition and finish consistency support a strong lease-up/occupancy profile with limited near-term capital improvement requirements.
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AI Analysis
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Location Profile Misaligned with Market Dynamics. Walk Score of 5 and absent transit access position Jefferson Peninsula as deeply car-dependent, eliminating pedestrian retail/dining capture and ruling out transit-reliant renters—a structural headwind in a 283-unit asset. The Bike Score of 25 offers minimal alternative mobility. Without rent data, the walkability deficit likely constrains upside to workforce housing or necessitates below-market pricing to offset amenity scarcity; comparable urban-proximate Dallas multifamily commands premiums precisely on these accessibility metrics. Grand Prairie's suburban geography may support the profile only if targeting auto-dependent demographics with employer shuttle programs or if the property compensates with on-site amenities and discount positioning.
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Construction Pipeline: Negligible Supply Threat
With zero units in the development pipeline (0.0% of existing 283-unit inventory) and no active construction projects nearby, Jefferson Peninsula faces minimal near-term supply pressure. The absence of permitted projects suggests limited competitive delivery risk over the next 12–24 months, positioning the asset favorably for rent growth independent of market-wide supply headwinds. However, without submarket vacancy trend data, we cannot assess whether this supply vacuum reflects strong fundamentals or constrained developability.
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
- +3.0%
- Implied Cap Rate ⓘ
- —
- Est. Cap Rate ⓘ
- —
Operating Income
- Gross Potential Rent ⓘ
- —
- Est. Vacancy ⓘ
- —
- Submarket Vac. ⓘ
- —
- Eff. Gross Income
- —
- OpEx Ratio ⓘ
- 50%
- Est. NOI
- —
- NOI/Unit
- —
Debt & Taxes
- Taxes/Unit ⓘ
- $4,726/yr
- Est. DSCR ⓘ
- —
Submarket Benchmarks
📊Computed from nearby properties within 3 miles of similar vintage
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Property Summary
Jefferson Peninsula is a 283-unit, 4-story mid-rise completed in 2023 with wood-frame construction and brick exterior located in Grand Prairie near Joe Pool Lake. The property comprises 268.5K SF of leasable space across one- to three-bedroom floor plans in Good/Excellent condition. Utilities included in rent are internet, package services, pest control, and trash; residents pay separately for electric, water/sewer, and renters insurance. The community is pet-friendly with a 4.7 Google rating, though parking type and detailed amenity list are not specified.
Property Details
- Account #
- 281825100A0010000
- 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
- 268,520 SF
- Net Leasable Area
- 268,520 SF
- Neighborhood
- UNASSIGNED
- Last Sale
- June 14, 2021
- Place ID
- ChIJWU3oah2LToYRW6f-OfDLhgU
- Business Status
- Operational
- Enriched
- 2 months ago
Owner Information
- Owner
- JEFFERSON PENINSULA LLC
- Mailing Address
-
STE 1800IRVING, TEXAS 750395625
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Rental Performance
Available Units Over Time
Latest Scrape (Mar 24, 2026)
Fees
| Unit | Beds | Baths | Sqft | Rent | Status | Listed | Days |
|---|---|---|---|---|---|---|---|
| 1BR, 1BA | 1BR | 1 | 627 | — | Inactive | Mar 24 | — |
| 1BR, 1.5BA | 1BR | 1 | 1,363 | — | Inactive | Mar 24 | — |
| 2BR, 2BA | 2BR | 2 | 1,155 | — | Inactive | Mar 24 | — |
| 3BR, 2BA | 3BR | 2 | 1,439 | — | Inactive | Mar 24 | — |
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Demographics
Jefferson Peninsula sits in an affluent enclave with severe renter supply constraints. The 1-mile radius exhibits extreme income concentration—70.6% earn $150K+—but only 7.8% renter occupancy, signaling this is a high-barrier ownership market where the property captures a narrow but deep renter demographic. The 3-mile ring shows meaningful demand relief: renter concentration jumps to 18.4% with median income of $138.7K, suggesting Jefferson can access a broader professional/executive renter base within reasonable commute. By the 5-mile radius, renter occupancy stabilizes at 21.1% but median income drops to $119.8K, indicating demand dispersal into workforce-adjacent households; this radius likely represents realistic competitive set. The absence of avg monthly rent prevents direct affordability validation, but the 19.6 affordability ratio at 3-miles and high income skew ($150K+ = 40.4%) suggest the property commands premium pricing in a supply-constrained, wealthy submarket with limited direct competition.
1-Mile Radius
- Population
- 8,326
- Households
- 2,245
- Avg Household Size
- 3.71
- Median HH Income
- $216,619
- Median Home Value
- $437,700
- Median Rent
- $2,204
- % Renter Occupied
- 7.8%
- Affordability
- 12.2% (rent/income)
- Income Distribution
-
<$25k $150k+
3-Mile Radius
- Population
- 39,877
- Households
- 12,602
- Avg Household Size
- 3.22
- Median HH Income
- $138,734
- Median Home Value
- $408,225
- Median Rent
- $2,264
- % Renter Occupied
- 18.4%
- Affordability
- 19.6% (rent/income)
- Income Distribution
-
<$25k $150k+
5-Mile Radius
- Population
- 157,455
- Households
- 49,778
- Avg Household Size
- 3.2
- Median HH Income
- $119,816
- Median Home Value
- $348,716
- Median Rent
- $2,055
- % Renter Occupied
- 21.1%
- Affordability
- 20.6% (rent/income)
- Income Distribution
-
<$25k $150k+
Source: US Census ACS 5-Year Estimates (2023) · 1 tracts (1mi)
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Amenities
Pet Policy
We are a pet-friendly community!
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Appraisal History
Jefferson Peninsula has appreciated 3.0% YoY to $53.5M, translating to $189.0K per unit—modest appreciation for a 2023-vintage asset in a likely favorable market. The 97.1% improvement-to-land ratio ($52.0M vs $1.5M) reflects minimal land value capture, typical of new construction where land costs are amortized into the building; this leaves little redevelopment upside without significant repositioning. Single data point limits trend analysis, but the modest YoY gain suggests either market stabilization post-delivery or conservative appraisal methodology on a recently stabilized property.
| Year | Total Value | Change |
|---|---|---|
| 2025 | $53,500,000 | +3.0% |
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Google Reviews
Rating trajectory and composition signal a recent operational inflection. The property improved from 4.4 to 5.0 over the last six months—driven almost entirely by 123 five-star reviews versus only 8 one-stars and 1 two-star review. Recent reviews (last 6+ months) are uniformly positive, with overwhelming praise for maintenance supervisor Gerald and leasing staff responsiveness. The single material risk is a Q4 2025 pricing/billing complaint involving undisclosed WiFi charges post-lease execution, which suggests potential lease admin gaps, though this appears isolated among 147 total reviews. The maintenance and staffing quality evident here supports the investment thesis, particularly given rapid response times (20-30 minute service windows documented), but management should audit lease disclosure and billing processes to prevent reputational drift.
Rating Distribution
139 reviews total
Rating Trend
Reviews
Living at Jefferson Cove has been a wonderful experience! Senada gave my ESA dog and me such a warm welcome and made sure all our needs were met. Dominique and Ashley are always attentive, caring, and quick to help with anything that comes up.
The housekeeping lady, Olga keeps the lobby and clubhouse spotless—it always feels fresh and inviting when we head out for our morning walks. Gerrard and Alfredo are incredibly responsive and handle maintenance issues quickly and efficiently.
I’m so happy to call this place home and truly appreciate everyone in the leasing office! I look forward to another year here.
Owner response
Dear Cristy,
We're thrilled to hear about your wonderful experience at Jefferson Cove! It's great to know that our team, including Senada, Dominique, Ashley, Olga, Gerrard, and Alfredo, have made your time here enjoyable and welcoming. We appreciate your kind words and are delighted that you feel at home. If there's anything we can assist you with, please feel free to reach out.
Sincerely,
The Jefferson Cove Apartments Management Team
Gerald was amazing!!! Super fast work!!
Owner response
Thanks for the great review, Trinity! We’re glad Gerald delivered fast, amazing service. We appreciate you choosing us!
Visited my niece, the apartment complex is secure, many amenities, and beautiful.
Owner response
Thank you so much for the 5-star review, Irma! We’re delighted to hear you enjoyed visiting your niece and that you found our community beautiful and full of amenities. We truly appreciate you taking the time to share your experience!
Gerald the maintenance manger is the guy to go to. Man he makes sure you’re taken cared off. He is always happy to help and if he can’t solve a problem on the spot he will always find answers for you. He always communicate to keep you in the loop. By far the bust maintenance guy!!!
Owner response
Dear Abdou,
We're thrilled to hear about your positive experience with Gerald. It's great to know he has been so helpful and communicative. If there's anything else we can assist you with, please feel free to reach out.
Sincerely
The Jefferson Cove Apartments Management Team
Came here to visit a friend, very nice complex!
Owner response
Dear Joy,
Thank you for sharing your positive experience during your visit. We're pleased to hear you found the community to be nice. If there's anything we can assist you with, feel free to reach out.
Sincerely,
The Jefferson Cove Apartments Management Team
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Data Sources
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