| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 57th | Fair |
| Demographics | 33rd | Poor |
| Amenities | 49th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 5537 Firestone Rd, Jacksonville, FL, 32244, US |
| Region / Metro | Jacksonville |
| Year of Construction | 1973 |
| Units | 20 |
| Transaction Date | 2018-04-20 |
| Transaction Price | $620,000 |
| Buyer | JJTA10 REAL PROPERTIES LLC |
| Seller | JJTA5 REAL PROPERTIES LLC |
5537 Firestone Rd Jacksonville 20-Unit Value-Add
Neighborhood occupancy near the high-90s suggests steady leasing potential in this inner-suburb location, according to WDSuite’s CRE market data. Renter demand is supported by a broad workforce base and accessible daily amenities in the surrounding area.
Located in Jacksonville’s inner suburbs, the property sits in a neighborhood rated B- where occupancy is strong and day-to-day conveniences are close by. Neighborhood occupancy ranks 74 out of 368 metro neighborhoods (top quartile) and sits in the 83rd percentile nationally, a positive signal for lease stability versus many areas, based on CRE market data from WDSuite.
Amenity access is competitive at the neighborhood level: cafes and groceries rank 51 and 88 of 368 respectively (both top quartile in the metro) and land in the low-80s national percentiles. Parks are limited (ranked 368 of 368), and average school ratings are weaker (15th percentile nationally), which can influence renter profiles and marketing positioning. These factors suggest demand may skew to workforce households prioritizing convenience and commute times over school-driven decisions.
Vintage matters for capital planning. Built in 1973, the asset is older than the neighborhood’s average construction year (1995), indicating potential value-add and systems modernization opportunities to remain competitive with newer product. Median contract rents at the neighborhood level land around the mid-$1,000s and the rent-to-income ratio of roughly 22% points to manageable affordability pressure that can aid retention and reduce turnover sensitivity.
Within a 3-mile radius, demographics indicate a larger tenant base and continued renter pool expansion: population and households have grown in recent years and are projected to continue rising through 2028, while average household size trends slightly lower, broadening demand for smaller formats. About 45% of housing units are renter-occupied within this 3-mile area, supporting depth of demand for multifamily and sustained leasing momentum relative to ownership alternatives.
Ownership costs in the immediate neighborhood are moderate in metro context, which can create some competition from entry-level ownership. Even so, current rent levels and amenity convenience help sustain multifamily relevance, particularly for households prioritizing price-to-location trade-offs and commute efficiency.
Safety indicators for the neighborhood track below both metro and national averages. Overall crime ranks 237 out of 368 Jacksonville neighborhoods, and national percentiles for violent and property offenses are in the single to low-teens, signaling elevated incident rates compared with neighborhoods nationwide. Recent year-over-year readings show an uptick, underscoring the importance of proactive security measures, lighting, and property operations. Investors should benchmark performance against comparable inner-suburban assets and consider resident experience initiatives when underwriting.
The area benefits from proximity to major employers that draw a broad workforce, supporting renter demand and retention through commute convenience. Nearby anchors include financial technology, title insurance, rail transportation, and electrical distribution employers listed below.
- Fidelity National Financial — title insurance (7.36 miles) — HQ
- Fidelity National Information Services — financial technology (7.36 miles) — HQ
- CSX — rail transportation (8.08 miles) — HQ
- Anixter — electrical distribution (16.24 miles)
5537 Firestone Rd offers a 20-unit footprint in a neighborhood with top-quartile occupancy relative to the Jacksonville metro, supporting stable leasing fundamentals. The 1973 vintage suggests clear value-add pathways—interiors, exteriors, and building systems—positioning the asset to compete against a newer local stock while managing capital scope. Within a 3-mile radius, continued population and household growth expand the renter pool and underpin absorption. According to CRE market data from WDSuite, neighborhood rents and rent-to-income dynamics indicate manageable affordability pressure, aiding renewal prospects and pricing discipline.
Counterbalancing strengths, local safety metrics trail metro and national benchmarks and parks/school ratings are comparatively weak, which can influence marketing, security planning, and target renter segments. Even so, proximity to major employment centers and everyday amenities provides a durable demand base for workforce-oriented multifamily.
- Top-quartile neighborhood occupancy in the metro supports steady leasing and renewal potential
- 1973 vintage with value-add upside through unit upgrades and systems modernization
- Expanding 3-mile renter pool tied to population and household growth supports absorption
- Amenity convenience (cafes/groceries) enhances livability despite limited parks
- Risk: Safety metrics below metro and national benchmarks require operational mitigation