| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 64th | Good |
| Demographics | 61st | Good |
| Amenities | 75th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 12193 Kernan Lake Dr, Jacksonville, FL, 32246, US |
| Region / Metro | Jacksonville |
| Year of Construction | 2009 |
| Units | 24 |
| Transaction Date | 2005-05-19 |
| Transaction Price | $18,369,000 |
| Buyer | MONTEREY CAPITAL PARTNERS LLC |
| Seller | GLENMONT ARLINGTON ROLLING OAKS LLC |
12193 Kernan Lake Dr Jacksonville Multifamily Opportunity
Positioned in an inner-suburban Jacksonville neighborhood with occupancy in the low-90s and a renter-occupied share near half of local housing units, this 2009 asset aligns with durable renter demand, according to WDSuite’s CRE market data. Steady neighborhood fundamentals point to stable leasing with room for operational execution.
The property sits within an A-rated, Inner Suburb neighborhood that ranks 37 out of 368 Jacksonville neighborhoods — a top quartile position in the metro. Amenity access is a relative strength, with neighborhood amenities testing above national medians and cafe density around the 90th percentile nationally, supporting day-to-day convenience and resident retention.
For investors focused on demand depth, neighborhood occupancy has held in the low-90s with an upward trend over the past five years, and roughly half of housing units are renter-occupied — a profile that supports a stable tenant base and consistent absorption. Median asking rents at the neighborhood level sit above the national midpoint, while rent-to-income indicates only moderate affordability pressure, aiding lease management and renewal prospects.
Within a 3-mile radius, population and households have expanded over the last five years and are projected to continue increasing through the mid-term, signaling a larger renter pool and support for occupancy stability. Household incomes in the 3-mile area have moved higher alongside rent growth, which helps sustain pricing power while keeping an eye on affordability to minimize turnover.
The asset’s 2009 construction is newer than the neighborhood’s average vintage from the mid-1990s, offering competitive positioning versus older stock. Investors should still plan for selective system updates and common-area refreshes to maintain differentiation as newer deliveries arrive.
On the ownership side, neighborhood home values trend above national medians relative to incomes, creating a high-cost ownership market that tends to reinforce renter reliance on multifamily housing. This backdrop can support lease retention and occupancy, though operators should monitor any shifts in value-to-income and rent-to-income ratios when setting renewal strategies.
Safety metrics are mixed and warrant underwriting attention. Relative to Jacksonville, the neighborhood ranks in the lower half for safety among 368 neighborhoods, and it sits below national percentiles for safety overall. Recent year-over-year changes indicate increases in both property and violent incidents at the neighborhood level. Investors should factor this into security planning, insurance assumptions, and tenant communications, and compare trends to nearby submarkets for context.
Nearby corporate anchors provide a diversified employment base that supports renter demand and commute convenience, notably CSX, Fidelity National Information Services, Fidelity National Financial, and Anixter.
- CSX — transportation & logistics HQ (10.6 miles) — HQ
- Fidelity National Information Services — financial technology (11.2 miles) — HQ
- Fidelity National Financial — title insurance & services (11.2 miles) — HQ
- Anixter — distribution & electrical supplies (11.2 miles)
This 2009-vintage Jacksonville multifamily asset benefits from a top-quartile neighborhood within the metro, amenity-rich surroundings, and a renter-occupied share near half of local housing units — a combination that supports steady absorption and renewal potential. Neighborhood occupancy has remained in the low-90s with a multi-year upward trend, while homeownership costs skew high relative to incomes, reinforcing sustained reliance on rental housing.
Within a 3-mile radius, population and households have grown and are projected to increase further, expanding the tenant base and supporting occupancy stability. According to CRE market data from WDSuite, neighborhood rents and incomes track above national midpoints, suggesting room for disciplined revenue management, while the 2009 construction provides competitive positioning versus older stock with targeted capex to keep systems and finishes current.
- Demand drivers: top-quartile metro neighborhood with amenity access and renter depth supporting absorption and renewals.
- Occupancy stability: neighborhood occupancy in the low-90s with a positive five-year trajectory.
- Competitive vintage: 2009 construction outpositions older local stock; plan selective system and common-area updates.
- Income and rent alignment: neighborhood rents and household incomes above national midpoints support disciplined pricing power.
- Risks: safety metrics trail metro leaders and recent incident trends have risen — incorporate security, insurance, and renewal strategy adjustments.