| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 53rd | Fair |
| Demographics | 45th | Fair |
| Amenities | 0th | Poor |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 5400 Collins Lakes Dr, Jacksonville, FL, 32244, US |
| Region / Metro | Jacksonville |
| Year of Construction | 2005 |
| Units | 40 |
| Transaction Date | 2003-10-07 |
| Transaction Price | $860,000 |
| Buyer | COLLINS COVE HOUSING PARTNERS LTD |
| Seller | VAULT COLLINS PARTNERS LTD |
5400 Collins Lakes Dr Jacksonville Multifamily Investment
Renter demand is supported by a high neighborhood share of renter-occupied units and a 2005 vintage that competes well against older stock, according to WDSuite’s CRE market data. This positions the asset for steady leasing while allowing room for targeted value-add to enhance retention and rent growth.
Located in an Inner Suburb of Jacksonville, the property sits in a car-oriented pocket with limited immediate retail and services, so residents typically rely on short drives for groceries, parks, and daily needs. Neighborhood rents trend around the national midpoint but sit below the metro median, which can aid lease-up while requiring active revenue management to optimize pricing.
The renter-occupied share is high (measured at the neighborhood level), placing the area in the top quartile nationally and competitive among Jacksonville neighborhoods. For multifamily owners, that depth of renter households helps support a broader tenant base and day-to-day leasing velocity even when the metro cycle softens. By contrast, overall neighborhood occupancy is below the metro median, suggesting that operations benefit from hands-on marketing and renewal strategies to sustain stability.
Within a 3-mile radius, demographics show population growth over the last five years alongside a faster increase in households and a smaller average household size. Forward-looking data indicate continued growth in household counts and a shift toward smaller households, which can expand the renter pool and support occupancy stability. Median household incomes in the 3-mile radius have risen, and projections point to further gains—factors that typically underpin rent collections and steady demand, based on commercial real estate analysis from WDSuite.
Ownership costs nearby are relatively accessible by national standards, which can introduce some competition from entry-level ownership. However, a strong renter concentration and rising household incomes help sustain multifamily demand. Rent-to-income dynamics indicate some affordability pressure, so thoughtful lease management and amenity positioning remain important for retention.
Safety indicators for the neighborhood track below the metro median and sit in a lower national percentile compared with neighborhoods nationwide. Recent data also point to year-over-year increases in both property and violent offenses at the neighborhood level. Investors typically underwrite with conservative loss assumptions, reinforce on-site security practices where applicable, and emphasize resident communication to support retention.
- Fidelity National Financial — title insurance (8.6 miles) — HQ
- Fidelity National Information Services — payments & fintech (8.6 miles) — HQ
- CSX — rail transportation (9.2 miles) — HQ
- Anixter — distribution & electrical supplies (12.4 miles)
Proximity to established corporate employers supports a steady commuter renter base and can aid retention through commute convenience. Nearby anchors include Fidelity National Financial, Fidelity National Information Services, CSX, and Anixter.
Built in 2005, this 40-unit asset offers relative competitiveness versus older neighborhood stock while leaving room for targeted modernization to refresh interiors and common areas. The surrounding neighborhood shows a high renter-occupied share that broadens the tenant base, while area rents sit around the national midpoint—conditions that can support occupancy with active revenue and expense management. According to CRE market data from WDSuite, household growth within a 3-mile radius and projected gains in incomes point to an expanding renter pool over the medium term, even as household sizes trend smaller.
Key underwriting considerations include below-metro occupancy at the neighborhood level, limited walkable amenities in this inner-suburban pocket, and safety metrics that lag the region. These risks can be mitigated through focused leasing, renewal strategies, and targeted property improvements aligned to renter priorities.
- 2005 vintage offers competitive positioning with selective value-add potential
- High neighborhood renter concentration supports a deeper tenant base
- 3-mile household growth and rising incomes reinforce demand and collections
- Rents around the national midpoint allow pricing flexibility with revenue management
- Risks: below-metro occupancy, limited nearby amenities, and safety metrics below regional averages