| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 63rd | Good |
| Demographics | 59th | Good |
| Amenities | 11th | Poor |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 11001 Old Saint Augustine Rd, Jacksonville, FL, 32257, US |
| Region / Metro | Jacksonville |
| Year of Construction | 1987 |
| Units | 24 |
| Transaction Date | 2013-09-16 |
| Transaction Price | $13,235,000 |
| Buyer | MID AMERICA APARTMENTS LP |
| Seller | MID AMERICA APARTMENT COMMUNITIES INC |
11001 Old Saint Augustine Rd Jacksonville Multifamily Value-Add
Neighborhood occupancy is solid and renter demand is supported by growing households within a 3-mile radius, according to WDSuite’s CRE market data. The submarket’s mixed tenure and steady rents point to stable leasing conditions for well-managed assets.
Located in Jacksonville’s inner suburbs, the property sits in a neighborhood rated C+ where occupancy trends are competitive among Jacksonville neighborhoods (368 total) and above the national median, per WDSuite. That level of stability tends to support predictable cash flow for professionally managed multifamily.
Retail and services are present but not dense; café, restaurant, park, and pharmacy concentrations are limited locally, while grocery availability tracks above national norms. For investors, this points to a primarily residential setting where demand is driven more by housing fundamentals than by destination retail.
Tenure patterns suggest a balanced renter base: roughly the mid-30% share of housing units are renter-occupied in the neighborhood, indicating meaningful depth for multifamily without heavy exposure to transient turnover. With a rent-to-income ratio around the high teens locally, pricing power exists but should be paired with thoughtful lease management to maintain retention.
Within a 3-mile radius, population and households have expanded in recent years with further growth projected, resulting in a larger tenant base over the medium term. Median incomes in this radius have climbed, and WDSuite’s commercial real estate analysis indicates rents have advanced while remaining in a band that supports occupancy stability.
Home values in the neighborhood are elevated for the metro yet not extreme by national standards. This ownership cost landscape tends to sustain reliance on rental housing, which can aid lease-up velocity and renewal capture for well-positioned properties.
Safety indicators for the neighborhood are below the national median and sit below the metro midpoint among 368 Jacksonville neighborhoods, based on WDSuite. Recent readings show a one-year uptick in both property and violent offenses, so investors should underwrite with prudent security measures and loss assumptions.
At a metro-comparative level, this area is not among the top quartile for safety; however, conditions can vary block-to-block and over time. Owners commonly address this through lighting, access control, and resident engagement, which can support retention and operational stability.
Nearby corporate offices provide a diversified employment base that supports renter demand and commute convenience, led by distribution and Fortune 500 headquarters in the urban core.
- Anixter — distribution (5.4 miles)
- Fidelity National Financial — financial services (10.7 miles) — HQ
- Fidelity National Information Services — fintech (10.7 miles) — HQ
- CSX — rail transportation (10.8 miles) — HQ
This 24-unit asset, built in 1987, is slightly older than the neighborhood average vintage, creating clear value-add and capital planning angles around unit interiors and building systems. Neighborhood occupancy trends are competitive among Jacksonville neighborhoods and above national medians, supporting steady leasing, while the renter-occupied share in the mid-30% range indicates dependable demand depth without overconcentration.
Within a 3-mile radius, population and households have grown and are projected to continue expanding, enlarging the local renter pool and supporting occupancy stability. Rents and incomes have risen in tandem, and, according to CRE market data from WDSuite, local rent levels and a rent-to-income ratio around the high teens suggest manageable affordability pressure that can sustain renewal capture with disciplined operations.
- 1987 vintage offers value-add potential to enhance rentability relative to newer stock
- Neighborhood occupancy competitive among 368 Jacksonville neighborhoods supports income durability
- 3-mile growth in population and households expands the tenant base and supports lease-up
- Rent-to-income dynamics suggest room for disciplined pricing while maintaining retention
- Risk: safety metrics are below national median; prudent security and underwriting are advisable