| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 50th | Poor |
| Demographics | 33rd | Poor |
| Amenities | 63rd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 3920 Toledo Rd, Jacksonville, FL, 32217, US |
| Region / Metro | Jacksonville |
| Year of Construction | 1974 |
| Units | 84 |
| Transaction Date | 2011-05-01 |
| Transaction Price | $2,500,000 |
| Buyer | Michael J & Shana Rosengarten |
| Seller | Lecesse |
3920 Toledo Rd, Jacksonville 84-Unit Multifamily
Neighborhood renter-occupied share is high and overall occupancy sits near the metro median, pointing to a deep tenant base with steady leasing, according to WDSuite s CRE market data.
The property sits in an Inner Suburb of Jacksonville with convenient lifestyle coverage. Restaurant and grocery densities are competitive among Jacksonville neighborhoods (ranks 12 and 11 out of 368) and land in the top decile nationally, while cafes are also strong. Limited nearby parks and childcare options are a tradeoff to note for family-oriented renters. School quality measures track well below national norms, which can temper appeal for some household segments.
At the neighborhood level, occupancy is about the metro median, supporting baseline stability for existing assets. Renter-occupied share is very high locally, indicating a broad base of multifamily demand and depth for leasing. Median rents are mid-pack for the city, and the rent-to-income profile signals some affordability pressure for residents that owners should manage through thoughtful renewals and amenity positioning.
Within a 3-mile radius, the population and total households have grown in recent years and are projected to expand further by 2028, suggesting a larger tenant base and ongoing renter pool expansion. Income distribution is mixed, with a meaningful middle-income cohort alongside higher-earning households, which can support a range of unit types and finishes.
Vintage across nearby stock trends older for Jacksonville; this asset s 1970s era positioning can compete with value-add upgrades that modernize interiors and systems, improving retention versus older, unrenovated comparables.
Safety indicators for the surrounding neighborhood trend below both metro and national norms. The area ranks 303 out of 368 Jacksonville neighborhoods on overall crime, placing it below the metro median, and national percentiles are low. Recent estimates also point to year-over-year increases in both property and violent offense rates. Investors typically account for this with practical measures such as lighting, access control, and tenant screening to support resident experience and lease stability.
Proximity to downtown-oriented corporate anchors supports commuter convenience and multifamily demand, particularly for workforce and professional renters. Nearby employers include CSX, Fidelity National Financial, Fidelity National Information Services, and Anixter.
- CSX — transportation (5.8 miles) — HQ
- Fidelity National Financial — financial services (5.8 miles) — HQ
- Fidelity National Information Services — financial technology (5.8 miles) — HQ
- Anixter — distribution (9.7 miles)
3920 Toledo Rd offers 84 units averaging approximately 853 square feet. At the neighborhood level, occupancy trends hover around the metro median and renter concentration is high, supporting day-to-day leasing fundamentals. According to CRE market data from WDSuite, local amenity access is strong for dining and groceries, which helps with retention even as schools and parks score weaker. Within a 3-mile radius, both population and household counts are growing and are projected to rise further, pointing to a larger tenant base over the next several years.
Built in 1974, the asset may benefit from targeted value-add and systems modernization to enhance competitiveness versus older nearby stock. Operators should also plan for affordability-sensitive lease management given neighborhood rent-to-income dynamics and consider practical safety investments aligned with submarket norms.
- High renter-occupied share in the neighborhood supports depth of demand and leasing stability.
- Dining and grocery access is competitive locally and top-tier nationally, aiding resident retention.
- 3-mile population and household growth expands the tenant base over the forward period.
- 1974 vintage creates clear value-add and capital planning pathways to improve positioning.
- Risks: below-average safety metrics and affordability pressures require prudent operations and security investments.