| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 53rd | Fair |
| Demographics | 54th | Good |
| Amenities | 33rd | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 3730 Soutel Dr, Jacksonville, FL, 32208, US |
| Region / Metro | Jacksonville |
| Year of Construction | 2007 |
| Units | 36 |
| Transaction Date | 2006-03-14 |
| Transaction Price | $200,000 |
| Buyer | CHRISTINE COVE APARTMENTS LTD |
| Seller | CHRISTINE COVE APARTMENTS DEVELOPMENT IN |
3730 Soutel Dr Jacksonville 36-Unit Multifamily
Neighborhood occupancy is strong relative to metro norms, supporting stable tenancy according to WDSuite’s CRE market data. The 2007 vintage positions the asset competitively versus older local stock while leaving room for selective updates.
Set in a suburban pocket of Jacksonville, the area scores a B- and ranks 202 out of 368 metro neighborhoods, placing it around the metro median. Livability is mixed: everyday conveniences like grocery and pharmacy options are limited nearby, while park access ranks stronger than many peers. For investors, this implies residents may drive a bit farther for daily needs, but recreation access is comparatively solid.
Multifamily fundamentals are supported by high neighborhood occupancy (top decile nationally), which has improved over the last five years. Rents sit above national medians for comparable neighborhoods, and the rent-to-income profile suggests manageable affordability pressure that can support retention with disciplined lease management. Home values remain comparatively accessible in this submarket, which can introduce some competition from ownership but also anchors a stable renter base seeking more attainable monthly housing costs.
The property’s 2007 construction is newer than the neighborhood’s average vintage near 1970. This generally aids leasing versus older comparables and may reduce near-term capital needs to systems and exteriors, while still offering value-add potential through interior modernization and amenity repositioning typical for assets of this era.
Within a 3-mile radius, households have increased even as population edged down slightly in recent years, indicating smaller household sizes and a shifting composition that can broaden the tenant base. Looking ahead, forecasts indicate growth in both population and households by 2028, pointing to a larger renter pool and demand support for occupancy stability. These dynamics, based on commercial real estate analysis from WDSuite at the neighborhood level, favor well-managed, workforce-oriented multifamily.
Safety indicators are weaker than metro and national benchmarks. The neighborhood’s crime rank is 301 out of 368 in the Jacksonville metro, placing it in the lower tier locally, and national safety percentiles are also low. Investors should factor this into underwriting via security planning, lighting/camera upgrades, and tenant-screening practices, and weigh how operating strategies can support resident comfort and retention.
Proximity to established employers in Downtown and surrounding employment nodes supports commute convenience and renter demand, notably in transportation, financial technology, and title/insurance services. The list below highlights nearby anchors most relevant to the resident workforce.
- CSX — transportation & logistics (6.0 miles) — HQ
- Fidelity National Information Services — financial technology (6.2 miles) — HQ
- Fidelity National Financial — title & insurance services (6.2 miles) — HQ
- Anixter — distribution & electrical supplies (21.5 miles)
This 36-unit asset built in 2007 offers a relative edge versus older neighborhood stock, pairing durable occupancy fundamentals with a pragmatic value-add path. High neighborhood occupancy and a rent profile that remains manageable for local incomes underpin leasing stability, while proximity to major employers supports a steady workforce renter base. According to CRE market data from WDSuite, the neighborhood’s occupancy trend sits above metro norms, which can help sustain collections through cycles when paired with disciplined operations.
Within a 3-mile radius, recent household growth alongside slight population softness hints at smaller household sizes—conditions that can expand the renter pool for studios and smaller floor plans. Forward-looking projections point to increases in both households and population by 2028, reinforcing demand for well-managed units. Key underwriting considerations include modest nearby amenity density and below-average safety rankings, which can be mitigated through targeted capex, security measures, and resident-experience programming.
- 2007 vintage offers competitive positioning vs. older local stock with selective value-add upside
- High neighborhood occupancy supports leasing durability and collections stability
- Workforce demand supported by nearby transportation, fintech, and insurance employers
- 3-mile household growth and projected increases point to a larger tenant base over time
- Risks: lower safety rankings and thin amenity density call for security and resident-experience investments