| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 56th | Fair |
| Demographics | 55th | Good |
| Amenities | 54th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1745 Wells Rd, Orange Park, FL, 32073, US |
| Region / Metro | Orange Park |
| Year of Construction | 1996 |
| Units | 68 |
| Transaction Date | 2020-10-30 |
| Transaction Price | $27,250,000 |
| Buyer | SRETT HOLLY COVE APARTMENTS LLC |
| Seller | VESTCOR WR ASSOCIATION LTS |
1745 Wells Rd, Orange Park FL Multifamily Investment
Neighborhood metrics point to steady renter demand and balanced affordability, with occupancy stable at the neighborhood level and restaurants and services in strong supply, according to WDSuite’s CRE market data.
Located in the Inner Suburb of Orange Park within the Jacksonville metro, the neighborhood rates B+ and sits above the metro median (rank 119 of 368). Dining access is a clear strength: restaurant density ranks 16 of 368 and sits in the 95th percentile nationally, while cafes are also competitive (rank 42 of 368; 83rd percentile nationally). Grocery access is moderate (65th percentile nationally). Limited park and pharmacy density indicate fewer nearby open-space and pharmacy options compared with many U.S. neighborhoods.
Neighborhood occupancy is reported at 93%, landing modestly above the national midpoint (59th percentile), which supports leasing stability. The share of renter-occupied housing is 43.4% and sits in the 83rd percentile nationally, signaling a relatively deep tenant base for multifamily operators. Median school ratings in the area average 3.0 out of 5 (61st percentile nationally), offering competitive positioning versus many U.S. neighborhoods in similar suburban settings.
The property’s 1996 vintage is newer than the neighborhood’s average construction year of 1987. For investors, that generally enhances competitive positioning versus older local stock while still warranting capital planning for systems modernization and potential value-add finishes over a hold period.
Demographic statistics are aggregated within a 3-mile radius. Over the past five years, the local area recorded population growth and a notable increase in households, expanding the potential renter pool. Forward-looking estimates indicate households continue to rise even as average household size trends lower, which can support ongoing demand for rental units and occupancy stability. Median home values in the neighborhood remain relatively accessible by national standards, and a rent-to-income ratio around 0.23 suggests manageable affordability pressure, which can aid retention while moderating near-term pricing power.
Safety indicators show a mixed but improving profile. Compared with neighborhoods nationwide, the area trends somewhat safer than average (crime metrics around the upper-half percentiles nationally), and recent violent offense rates show a meaningful year-over-year decline, a top-tier improvement nationally. Within the Jacksonville metro, however, the neighborhood’s crime rank (61 out of 368) places it above the metro median for reported incidents, so investors should evaluate property-level safeguards and resident experience as part of operations planning.
Proximity to corporate offices in Downtown and Southbank supports a broad white-collar employment base and convenient commutes for renters, led by financial services, fintech, rail transportation, and distribution firms listed below.
- Fidelity National Financial — title insurance (9.62 miles) — HQ
- Fidelity National Information Services — financial technology (9.62 miles) — HQ
- CSX — rail transportation (10.21 miles) — HQ
- Anixter — distribution/electrical supplies (12.73 miles)
This 68-unit asset benefits from a renter-heavy neighborhood context and stable occupancy, supported by strong amenity access (notably restaurants and cafes) and household growth within a 3-mile radius that expands the tenant base. Based on CRE market data from WDSuite, neighborhood occupancy trends sit modestly above national midpoints while home values and rent-to-income dynamics suggest balanced affordability that can support retention.
Built in 1996, the property is newer than the local average vintage and should compare well against older stock while leaving room for targeted value-add and systems updates over time. Looking ahead, continued household formation alongside smaller household sizes points to durable multifamily demand, though operators should calibrate pricing strategy given measured affordability pressure and monitor neighborhood-level safety trends within the metro context.
- Renter concentration and stable neighborhood occupancy support leasing durability
- Amenity-rich location with strong dining access and competitive school ratings
- 1996 construction offers relative competitiveness plus value-add/modernization upside
- Household growth within 3 miles expands the tenant base and supports absorption
- Risks: metro-relative safety positioning and measured affordability may temper rent growth