| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 56th | Fair |
| Demographics | 22nd | Poor |
| Amenities | 80th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 3451 Saland Way, Jacksonville, FL, 32246, US |
| Region / Metro | Jacksonville |
| Year of Construction | 2005 |
| Units | 20 |
| Transaction Date | 2003-12-11 |
| Transaction Price | $2,325,000 |
| Buyer | AT OWNER 11 LP |
| Seller | PINE MEADOWS ASSOCIATES LTD |
3451 Saland Way Jacksonville Multifamily — 2005 Vintage
Neighborhood demand is supported by a growing 3-mile renter pool and proximity to major employers, according to WDSuite’s CRE market data, while a 2005 build positions the asset competitively versus older stock.
Located in Jacksonville’s inner suburbs, the area around 3451 Saland Way benefits from solid daily-needs access: grocery and pharmacy availability score in the upper national percentiles, and dining/cafe density trends strong (restaurants and cafes both rank competitively versus most neighborhoods). These amenity patterns support convenience-sensitive renters and help with lease retention.
At the neighborhood scale, overall rank sits above the metro median (141 out of 368), with amenities again a relative strength (amenity index is top quartile nationally). School ratings data aren’t available for this neighborhood, so investors should underwrite education preferences using submarket and district-level checks rather than property-level assumptions.
Vintage context: the average construction year nearby is 1997, and this property’s 2005 vintage is newer than much of the local housing stock. That positioning can reduce near-term capital intensity relative to older assets, though systems may still warrant modernization to enhance competitiveness and operating efficiency.
Tenure and demand: the neighborhood’s share of renter-occupied units is competitive among Jacksonville neighborhoods (rank 108 of 368), indicating depth for workforce and lifestyle renters. By contrast, neighborhood occupancy (measured at the neighborhood level, not the property) trends lower than many Jacksonville subareas (rank 357 of 368), suggesting operators should plan for focused leasing and renewals. Within a 3-mile radius, demographics indicate population growth and a rising household count, which expands the local tenant base and supports occupancy stability over the medium term.
Affordability and pricing power: median home values in the neighborhood sit in the upper national percentiles, creating a relatively high-cost ownership market. This tends to sustain reliance on multifamily rentals and can support pricing power, while the 3-mile rent trajectory (contract rent levels have risen and are projected to continue growing) underscores potential for revenue growth with disciplined lease management.
Safety metrics at the neighborhood level trend below both metro and national benchmarks. The neighborhood’s crime standing is toward the bottom of the Jacksonville distribution (rank 320 out of 368) and falls in a low national percentile, indicating higher reported crime relative to many U.S. neighborhoods. Recent data also show year-over-year increases in both property and violent offense rates at the neighborhood scale.
For underwriting, investors should reflect these conditions in marketing, security, and operating assumptions, and compare trends against adjacent submarkets where safety readings are stronger. All figures reflect neighborhood-level patterns, not incidents at the property.
Nearby employment anchors include rail transportation and financial services headquarters, plus distribution and electrical supply offices. This employment base supports commuter convenience and multifamily renter demand for workforce and professional households.
- CSX — rail transportation HQ (8.1 miles) — HQ
- Fidelity National Financial — financial services (8.6 miles) — HQ
- Fidelity National Information Services — financial technology (8.6 miles) — HQ
- Anixter — electrical/communications supply (10.3 miles)
The investment case centers on durable renter demand and relative vintage advantage. The 2005 construction is newer than the neighborhood’s late-1990s average, which can moderate near-term capital needs and create light value-add pathways through modernization and operational enhancements. Within 3 miles, population and household growth are projected to expand, enlarging the tenant base and supporting occupancy stability and rent growth potential. Anchoring employers within 8–10 miles further reinforce leasing fundamentals.
According to CRE market data from WDSuite, amenity access trends strong (top-quartile nationally for several daily-needs categories), and the renter-occupied share is competitive among Jacksonville neighborhoods. Counterbalancing factors include neighborhood-level safety readings that trail metro peers and below-average neighborhood occupancy, which argue for active leasing, resident retention strategies, and prudent expense controls.
- 2005 vintage newer than local average, supporting competitive positioning with targeted renovations
- Expanding 3-mile population and households point to a larger tenant base and support for occupancy
- Strong daily-needs access (groceries, pharmacies, dining) aligns with convenience-driven renter preferences
- Proximity to CSX and major financial services HQs underpins leasing demand from commuters
- Risks: neighborhood-level safety readings and softer occupancy require focused leasing and retention management