DALLAS HOUSING AUTHORITY TOWNHOMES

3020 BICKERS ST, DALLAS, TX, 752121400

APARTMENT (BRICK EXTERIOR) Garden 152 units Built 2000 2 stories ★ 3.8 (83 reviews) 🚶 21 Car-Dependent 🚌 45 Some Transit 🚲 43 Somewhat Bikeable

$33,440,000

2025 Appraised Value

↑ 0.0% from prior year

EXECUTIVE SUMMARY

Dallas Housing Authority Townhomes presents a structurally constrained acquisition opportunity with minimal operational upside and significant regulatory complexity that requires immediate clarification before underwriting proceeds. The $33.4M valuation ($219.9K/unit) reflects a stabilized public housing asset with tight land economics (19.5% land ratio) and zero appreciation momentum—value creation depends entirely on operational efficiency in a severely income-constrained submarket where 44.1% of households earn under $25K against only 22.9% affordability benchmarks, confirming subsidy dependency rather than market-rate trajectory. Resident satisfaction sits at 3.8 stars with management dysfunction signals (intake delays, weak lease enforcement), though asset-level maintenance appears adequate based on available photo quality; the property's isolation from nearby pipeline activity (1.97% competitive pressure) offers temporary downside protection but cannot offset the mobility liabilities (Walk Score 21) and missing interior visibility into unit-level value-add potential. The name and structure indicate deed-restricted affordable housing rather than conventional multifamily, meaning any acquisition requires explicit subsidy/financing assumptions and regulatory covenant confirmation that are absent from current data. Recommendation: Watch-list pending covenant and financing structure clarification; pass unless acquisition thesis explicitly targets subsidized housing with long-term contract revenue streams.

AI overview · Updated 3 days ago
Abstract Notes

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Quality, affordable housing to low-income families and individuals

DHA-owned residences are affordable rental housing properties for low-to-moderate income families and individuals. DHA operates 31 properties, which includes ~5,000 units located throughout North Texas. Rental options range from studio apartments up to five-bedroom homes. Housing types include apartments, single family homes, townhomes and communities specially designed for seniors and persons with disabilities. Qualified tenants pay approximately 30% of their income for rent based on federal guidelines.

Class B asset with mixed capital timeline and no interior visibility to assess unit-level value-add potential. The 152-unit portfolio shows 24 good-to-excellent condition exteriors against 2 fair and 3 under-construction/development units, indicating selective capital deployment rather than comprehensive repositioning. Renovation clustering around 2000s (5 units), 2010–2015 (3 units), and 2016–2020 (2 units) suggests staggered upgrades without a coordinated modernization strategy. Critically, zero kitchen or bathroom photos were captured—eliminating visibility into finish specifications, equipment age, and interior value-add runway that would typically drive acquisition thesis.

AI analysis · Updated about 1 month ago

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AI Analysis

Location profile mismatches fundamental multifamily value creation. Walk Score of 21 and Transit Score of 45 signal a car-dependent, transit-limited submarket with minimal pedestrian amenities—a profile typically reserved for workforce housing or suburban Class C properties. The absence of rent data prevents valuation analysis, but the mobility constraints suggest either heavily subsidized pricing or significant tenant friction (longer commutes, transportation costs). This location demands either dense service-sector employment within 2-3 miles or explicit positioning as affordable/public housing to justify the walkability deficit—standard market-rate multifamily would struggle here.

AI analysis · Updated about 1 month ago
Distance Name Category
📍 4.2 miles from Downtown Dallas
Map Notes

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Pipeline poses minimal near-term pressure despite submarket headwinds. The 3 units under construction represent just 1.97% of the property's 152-unit base, creating negligible direct competition. However, the permit activity reveals fragmented small-scale development across multiple addresses in the 75208 zip code rather than concentrated multifamily projects, suggesting these are likely renovation or adaptive reuse permits rather than new supply adds. The deteriorating vacancy trend in the submarket warrants monitoring, but this property's isolated pipeline exposure insulates it from the macro compression risk—the real threat is broader market softening, not local oversupply.

AI analysis · Updated about 1 month ago
🏗️ 3 permits within 3 mi
2% pipeline
Distance Address Description Status Filed
1.7 mi 3500 W COLORADO BLVD QTEAM Add carports to multi-family project Inspection Phase Sep 29, 2025
1.8 mi 4739 GRETNA ST 18 Townhouses in 2 phases. 9 units each phase. PHASE 1 BU... Inspection Phase Jan 15, 2025
2.9 mi 510 W 10TH ST QTEAM MEETING 6.4.2025 New construction of 24 unit multif... Inspection Phase May 12, 2025
Nearby Construction Notes

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Debt Notes

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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
0.0%
Implied Cap Rate
Est. Cap Rate

Operating Income

Gross Potential Rent
Est. Vacancy
Submarket Vac.
4.6%
Eff. Gross Income
OpEx Ratio
45%
Est. NOI
NOI/Unit

Debt & Taxes

Taxes/Unit
Est. DSCR

Submarket Benchmarks

📊

Computed from nearby properties within 3 miles of similar vintage

Submarket Cap Rate
6.35%
Price/Unit Benchmark
$155,923
Rent/SF
$1.87/sf
Financial Estimates Notes

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Property Summary

Dallas Housing Authority Townhomes is a 152-unit garden-style apartment community built in 2000 with wood-frame construction and brick exterior, averaging 1,210 SF per unit across 183.7K gross building area. Quality and condition are rated average; the property operates as public affordable housing with tenants paying roughly 30% of income toward rent. Located in a car-dependent area (Walk Score 21) in Dallas with standard community amenities including recreation center, laundry facilities, and washer/dryer connections. Utilities payment structure and pet policy are not specified in available data.

AI analysis · Updated about 1 month ago

Property Details

Account #
007135000301A0000
Market
Dallas County, TX
Building Class
APARTMENT (BRICK EXTERIOR)
Building Style
Garden
Construction
D-WOOD FRAME
Quality
AVERAGE
Condition
AVERAGE
Stories
2
Gross Building Area
183,736 SF
Net Leasable Area
183,736 SF
Neighborhood
UNASSIGNED
Last Sale
February 12, 2001
Place ID
ChIJqQ8fW5qbToYRuB5MCzLqCO0
Business Status
Operational
Enriched
2 months ago

Owner Information

Owner
DALLAS HOUSING AUTHORITY
Mailing Address
STE 350
DALLAS, TEXAS 752121630
Property Notes

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Rental Performance

Submarket Rent Growth
📊 Nearby properties
Vacancy Trend
Deteriorating
📊 RentCast zip-level data
Submarket Rent/SF
$1.87/sf
📊 Nearby properties

Available Units Over Time

Latest Scrape (Mar 24, 2026)

Available
152 units

Fees

Application: Admin: Pet Deposit: Pet Rent Monthly:
🏠 0 active listings | Trend: No data
Unit Beds Baths Sqft Rent Status Listed Days
1 Bedroom 1BR Inactive Mar 24
2 Bedroom 2BR Inactive Mar 24
3 Bedroom 3BR Inactive Mar 24
4 Bedroom 4BR Inactive Mar 24
5 Bedroom 5BR Inactive Mar 24
Rental Notes

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Demographics

Severe affordability mismatch in immediate submarket signals subsidy dependency. The 1-mile radius shows 44.1% of households earning under $25K against a 22.9% affordability ratio—this property cannot support market-rate operations at scale in its immediate trade area. The 69.7% renter concentration confirms captive demand, but the sharp income cliff between the 1-mile ($32.9K median) and 3-mile ($61.9K median) rings suggests this asset serves a distinctly lower-income cohort than surrounding neighborhoods; the property's name and unit count indicate it's subsidized housing rather than market-rate multifamily. Demand depth exists but is income-constrained—the broader 5-mile radius (61.7% renters, $72.7K median) represents available but untapped upside if repositioning toward workforce housing were feasible.

AI analysis · Updated about 1 month ago

1-Mile Radius

Population
6,363
Households
2,066
Avg Household Size
2.97
Median HH Income
$32,907
Median Home Value
$265,100
Median Rent
$627
% Renter Occupied
69.7%
Affordability
22.9% (rent/income)
Income Distribution
<$25k $150k+

3-Mile Radius

Population
81,164
Households
30,881
Avg Household Size
2.78
Median HH Income
$61,862
Median Home Value
$268,908
Median Rent
$1,294
% Renter Occupied
57.8%
Affordability
25.1% (rent/income)
Income Distribution
<$25k $150k+

5-Mile Radius

Population
299,302
Households
127,771
Avg Household Size
2.52
Median HH Income
$72,712
Median Home Value
$310,848
Median Rent
$1,468
% Renter Occupied
61.7%
Affordability
24.2% (rent/income)
Income Distribution
<$25k $150k+

Source: US Census ACS 5-Year Estimates (2023) · 1 tracts (1mi)

Demographics Notes

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Unit Mix Notes

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Amenities Notes

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Appraisal History

Current appraised value of $33.4M translates to $219.9K per unit, placing this 2000-built asset in line with stabilized workforce housing comps. The 19.5% land-to-total ratio ($6.5M) is tight for a 152-unit property, suggesting limited redevelopment optionality; any value-add would need to come through operational efficiency rather than repositioning. With zero year-over-year movement, the market has essentially flatlined this asset—typical for mission-driven housing with restricted deed covenants, though this warrants confirmation of any regulatory encumbrances before underwriting.

AI analysis · Updated about 1 month ago
Year Total Value Change
2025 $33,440,000 +0.0%
Appraisal Notes

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Google Reviews

Rating trajectory is flat-to-slightly-positive, but resident satisfaction masks severe community management gaps. The 3.8 overall rating with 47.0% five-star reviews (39 of 83) reflects likely selection bias—many five-star reviews lack text, suggesting quick approvals from satisfied residents, while negative reviews cluster around behavioral/enforcement issues rather than unit condition. The substantive complaints (aggressive dogs, unruly children, parental supervision failures) point to weak lease enforcement and community standards management—operational red flags for a 152-unit property. One 2024 review citing pending intake "since May last year" suggests administrative dysfunction in the applicant pipeline, not a unit-level issue, but the absence of property-specific maintenance complaints is notable; when maintenance is mentioned (2021), it's praised, which partially supports the investment thesis on asset condition.

AI analysis · Updated 3 days ago

Rating Distribution

5★
39 (47%)
4★
17 (20%)
3★
12 (14%)
2★
4 (5%)
1★
11 (13%)

83 reviews total

Rating Trend

Reviews

Gemini Love ★★☆☆☆ Local Guide Oct 2025

This area is better than most being that it’s Dallas. But…..

My neighbors dog across the street is aggressive and has bitten multiple children including mine and she still leaves her dog tied up outside unattended especially while children are outside playing so they don’t come in “her yard”. I’ve complained multiple times to the office and even had to file a police report for the dog bite and nothing is being done.

*If your child gets bitten write a letter to management and send a copy by certified mail. Keep a copy for yourself (if you email management, they act like they didn’t receive it). Take your child to the hospital then contact the police (911) and animal control (311) to file a dog bite report.

* I suggest recording all conversations with management. Texas is a one party state so you have the right to record even if they tell you that you don’t. Any complaints you have should be sent by certified mail (keep a copy for yourself) because management will claim they never knew what was happening and didn’t receive your email. Certified mail will keep them from being able to claim that and hold them responsible if the problem escalates or persists.

The Regional Manager Stacey Rodgers is very rude. I’ve complained about a dog constantly bitting children, getting off of its leash, and running out of its owners home and bitting children. She told me to be a resident at my own home and did nothing to remedy the situation. If you ask to speak to someone over her she will not give you the information. Stacey treats residents unfairly and allows “her favorite residents” to break the lease while making others uphold the lease. If you get on her bad side she will threaten to give you a 30 day notice to vacate or evict you from your apartment.

*Make sure you know your rights because if you don’t Stacey will violate them. To report anyone in management you need to go to the DHA office on Hampton and ask to speak with Director Shannon. If Shannon does not remedy the situation your next step is to go back and request to speak with CEO Troy.

The kids over here are out of control. My son was shot with an Orbeez gun causing over 20 welts from his waist down. Kids have shot my neighbors car with an orbeez gun as well. Spoke with the office and they ask you to find out names and more information about the children when they have cameras and should be investigating these issues with the police themselves instead of relying on residents to do all of the work for them. I’ve had to contact the police because children decided to ram a metal shopping cart into the back of my car causing damage.

My rent is paid on time and I still got charged late fees because they got the mail a day late (which is not my fault) brought it to the office attention and they said they would handle it and it never got handled even after I showed my receipt and sent multiple emails.

Security doesn’t do anything except stay in the front of the apartments all night.

There is always trash thrown everywhere outside and by the dumpsters.

The parents are just as bad as the kids they don’t care and are very disrespectful.

Valerie Tye ★★★★★ Sep 2025
melvin lewis ★★★★☆ Local Guide Jul 2025
Shanita Sanders ★☆☆☆☆ Local Guide Dec 2024

The only problem I'm having is the kids are so unruly. They sit on your car, knock on door and run. The kids over here are completely out of control.The parents are just as worst as the kids And if you have a vehicle the vehicle and car insurance must be in your name or they will have your car towed. They have broken my living room window hadn't no one came out to fix it. My truck was stolen as a result from me not being able to park over here. I'm moving as soon as my lease is up I wouldn't advise no one especially if you have school age children to move over here period. As of 12/14/2024 things has gotten much better my only advice will be stay to yourself don’t make friends . And keep your children in the house as much as possible and you’ll be fine.

Natalye Spencer ★☆☆☆☆ Local Guide Oct 2024
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Data Sources

Apify Google Places (Scraper)
Last updated: Feb 26, 2026 9 fields
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