| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 60th | Good |
| Demographics | 23rd | Poor |
| Amenities | 45th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1000 Island Point Dr, Jacksonville, FL, 32218, US |
| Region / Metro | Jacksonville |
| Year of Construction | 1988 |
| Units | 20 |
| Transaction Date | 2007-12-03 |
| Transaction Price | $18,650,000 |
| Buyer | ISLAND POINTE PARTNERS LLC |
| Seller | ISLAND POINTE PARTNERS LLC |
1000 Island Point Dr Jacksonville Multifamily Investment
Renter demand is supported by a high neighborhood renter-occupied share and a workforce-oriented location, according to WDSuite’s CRE market data, though neighborhood occupancy is below national averages. Figures cited reflect neighborhood conditions, not the property’s own performance.
This Inner Suburb pocket of Jacksonville (neighborhood rating C+) offers everyday conveniences with grocery and pharmacy access comparable to many metro areas, while cafés and parks are limited. Average school ratings in the neighborhood trend below metro norms, an operational consideration for family-oriented leasing strategies.
Neighborhood occupancy is in the lower third nationally, signaling more competitive leasing conditions, but the renter-occupied share sits in the top quartile nationally and ranks above the metro median (ranked 22 of 368), indicating a deep tenant pool for multifamily. Median contract rents in the neighborhood are mid-market and have risen over the past five years, supporting the case for stable renewal capture with disciplined lease management.
Within a 3-mile radius, household counts have grown even as average household size has edged down, and WDSuite data indicates households are projected to increase further over the next five years. This translates to a larger tenant base and more one- to two-bedroom renters entering the market, which can support occupancy stability for well-positioned properties.
The property’s 1988 construction is older than the neighborhood’s average vintage (2000). Investors should plan for targeted capital expenditures and potential value-add upgrades to enhance competitiveness against newer stock while leveraging the neighborhood’s high renter concentration.
Relative to neighborhoods nationwide, this area scores well below the national median for safety and falls below the metro median among 368 Jacksonville neighborhoods. WDSuite’s data also shows recent year-over-year increases in both property and violent offense estimates. For investors, this calls for proactive security measures, resident communication, and expense planning to maintain retention and protect NOI.
Nearby downtown and riverfront corporate anchors provide a broad employment base that supports renter demand and commute convenience for workforce tenants, including CSX and two Fidelity entities, with additional industrial distribution further out.
- CSX — rail & logistics HQ (5.6 miles) — HQ
- Fidelity National Financial — insurance & title services (6.0 miles) — HQ
- Fidelity National Information Services — financial technology (6.0 miles) — HQ
- Anixter — distribution & industrial supplies (20.5 miles)
This 20-unit, 1988-vintage asset aligns with a neighborhood where renter-occupied housing is notably high and ownership costs relative to incomes can reinforce reliance on rental housing. According to commercial real estate analysis from WDSuite, neighborhood occupancy trends are below national medians, but rising household counts within 3 miles and steady rent growth signal a durable tenant base for competitively positioned units.
The vintage suggests room for targeted renovations and systems upgrades to strengthen leasing performance against newer comparables. With nearby downtown employers supporting commute-driven demand, the thesis centers on value-add execution, disciplined lease management given affordability pressures, and prudent security planning.
- High renter concentration supports tenant depth and renewal potential
- 1988 vintage offers value-add upside via interior and systems upgrades
- Household growth within 3 miles expands the near-term renter pool
- Proximity to major employers underpins workforce leasing demand
- Risks: below-median neighborhood safety and softer occupancy require active management and expense planning