| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 60th | Good |
| Demographics | 23rd | Poor |
| Amenities | 45th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1057 Broward Rd, Jacksonville, FL, 32218, US |
| Region / Metro | Jacksonville |
| Year of Construction | 1973 |
| Units | 48 |
| Transaction Date | 2022-03-10 |
| Transaction Price | $7,388,800 |
| Buyer | 1057 BROWARD LANDING LLC |
| Seller | UNKNOWN |
1057 Broward Rd Jacksonville Multifamily Investment Opportunity
Renter concentration in the surrounding neighborhood supports a durable tenant base, according to WDSuite s CRE market data. Expect steady workforce demand with pricing set more by local incomes than luxury positioning.
This inner-suburb location in Jacksonville balances working-class demand drivers with attainable rents. Neighborhood occupancy is reported at 86% and has been broadly stable, per commercial real estate analysis from WDSuite, suggesting leasing continuity rather than rapid churn. The renter-occupied share is high at 63.3%, indicating deeper multifamily demand and a larger pool of prospective tenants relative to more owner-heavy areas.
Amenities are mixed: groceries and pharmacies are reasonably accessible compared with other Jacksonville areas, while parks and cafes are limited. On a relative basis, amenity access is competitive among 368 Jacksonville neighborhoods (amenity rank 128), but schools in the area trail metro and national norms (average school rating rank 99 of 368; low national percentile). These dynamics point to stronger appeal for workforce and commuter households than for families prioritizing top-rated schools.
Homeownership remains a higher-cost proposition relative to local incomes (value-to-income ratio sits in a high national percentile), which tends to sustain reliance on rental housing and can support lease retention for well-managed properties. At the same time, the neighborhood s rent-to-income ratio signals some affordability pressure, so operators should watch renewal strategies and unit mix.
Within a 3-mile radius, demographics show households increased over the past five years even as population edged down, implying smaller average household sizes and a broader renter pool. Looking ahead, WDSuite s 3-mile forecasts call for growth in both population and households, with contract rents projected to rise, supporting long-run demand for professionally managed rental units.
Safety indicators for the neighborhood are weaker than both Jacksonville medians and national benchmarks. The area ranks 304 out of 368 Jacksonville neighborhoods on overall crime, placing it below the metro median, and sits in low national percentiles for both violent and property offenses. Trends should be assessed at the submarket and street-level during diligence, but investors should underwrite with prudent security, lighting, and operational considerations.
Nearby employment is anchored by rail and financial services headquarters with additional distribution presence, supporting commuter convenience and steady renter demand tied to these industries.
- CSX rail & transportation (5.9 miles) HQ
- Fidelity National Financial financial services (6.3 miles) HQ
- Fidelity National Information Services fintech & payments (6.3 miles) HQ
- Anixter distribution & supply (20.6 miles)
Built in 1973, this 48-unit asset is older than the neighborhood s average vintage, creating clear value-add and capital planning angles against a renter-heavy area. According to CRE market data from WDSuite, neighborhood occupancy is steady and the renter-occupied share is elevated, pointing to depth of demand for functional, well-managed units. The local ownership market screens relatively high-cost versus incomes, which can reinforce rental reliance and help stabilize renewals when paired with pragmatic rent setting.
Within a 3-mile radius, households have grown even as average household size has declined, expanding the base of potential renters. Forecasts indicate further gains in households and rents through the mid-term, supporting an upgraded, durable workforce housing thesis. Key underwrite considerations include measured affordability pressures, basic amenity coverage, and below-median school ratings.
- Renter-heavy neighborhood supports leasing depth and occupancy stability.
- 1973 vintage offers value-add potential to compete against newer stock.
- 3-mile forecasts show growth in households and rents, backing a long-term hold thesis.
- Ownership costs relative to incomes favor continued reliance on rentals and renewal capture.
- Risks: weaker safety metrics and lower school ratings; manage with security, screening, and targeted improvements.