| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 80th | Best |
| Demographics | 84th | Best |
| Amenities | 0th | Poor |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 4460 Hodges Blvd, Jacksonville, FL, 32224, US |
| Region / Metro | Jacksonville |
| Year of Construction | 1998 |
| Units | 24 |
| Transaction Date | 2007-12-20 |
| Transaction Price | $26,035,000 |
| Buyer | BRETT OLYMPUS MF HOUSE LLC |
| Seller | WW CAPE HOUSE LLC |
4460 Hodges Blvd Jacksonville Multifamily Investment
Neighborhood occupancy is at the top of the local range, pointing to steady renter demand in this inner-suburb pocket of Jacksonville, according to WDSuite’s CRE market data. For investors, this suggests durable leasing fundamentals with room to enhance competitiveness through targeted upgrades.
Situated in an Inner Suburb of Jacksonville, the property benefits from a renter base supported by a neighborhood-level renter-occupied share near half of housing units (50.6%). For multifamily investors, that renter concentration indicates a meaningful tenant pool that can support ongoing leasing and renewal activity.
Livability signals are mixed but investor-relevant. Average school ratings are strong (4.0 out of 5), placing the neighborhood in the top quartile nationally and competitive among Jacksonville neighborhoods (rank 18 of 368), which can aid retention for family-oriented renters. Retail and services are less dense within the immediate neighborhood footprint (limited counted cafes, groceries, parks, and pharmacies), so residents likely rely on nearby corridors for daily needs—an operating consideration when positioning amenities and unit finishes.
Relative affordability dynamics are constructive for rentals. Neighborhood median household income is high for the market, and rent-to-income sits around 19%, suggesting manageable affordability pressure that can support renewal rates and limit turnover. Median home values are elevated for Jacksonville, which typically sustains reliance on multifamily housing rather than ownership, reinforcing demand depth and pricing discipline.
Within a 3-mile radius, demographics show recent population growth and a rising household count, with forecasts calling for further expansion by 2028. This points to a larger tenant base and continued renter pool expansion, supportive of occupancy stability and absorption. Construction in the immediate neighborhood skews newer on average (2005 versus this asset’s 1998 vintage), implying that selective renovations or system updates can sharpen competitiveness against more recent stock.
Safety indicators are mixed and should be monitored as part of asset management. The neighborhood’s crime profile sits below national averages (national safety percentile near the 22nd), while Jacksonville-relative positioning is mid-pack (rank 148 of 368). Property and violent offense measures also trend below the national median on a percentile basis, but year-over-year changes have moved unfavorably, according to WDSuite’s data. Investors should consider routine security and lighting reviews and incorporate these trends into underwriting and retention planning.
Proximity to major employers supports a commuter-friendly renter base and can aid retention. Nearby anchors include Anixter and several Fortune 500 financial and rail headquarters that draw a stable professional workforce.
- Anixter — corporate offices (9.3 miles)
- CSX — corporate offices (12.4 miles) — HQ
- Fidelity National Financial — corporate offices (12.9 miles) — HQ
- Fidelity National Information Services — corporate offices (12.9 miles) — HQ
This 24-unit, 1998-vintage asset competes in a neighborhood with top-of-market occupancy and strong incomes, offering a foundation for stable cash flow. The area’s elevated home values and manageable rent-to-income levels suggest durable multifamily demand and renewal potential, while newer average neighborhood stock (2005) indicates value-add opportunity through targeted upgrades to maintain competitive positioning—especially as nearby households expand within a 3-mile radius.
According to CRE market data from WDSuite, the neighborhood sits above metro medians on several renter demand indicators, with strong school ratings supporting family-oriented tenancy. The main considerations are lighter amenity density in the immediate neighborhood and safety metrics that have shown recent softening, both of which can be addressed through asset-level improvements, marketing focus on commute convenience, and prudent security measures.
- Neighborhood occupancy and income levels support leasing stability and renewal potential.
- 1998 vintage versus 2005 neighborhood average points to actionable value-add and system upgrades.
- Elevated ownership costs reinforce reliance on rental housing and pricing discipline.
- Expanding 3-mile household base underpins future tenant demand and absorption.
- Risks: lighter amenity density and recent safety softening; mitigate via property improvements and management focus.