| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 58th | Fair |
| Demographics | 42nd | Fair |
| Amenities | 12th | Poor |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 5601 Edenfield Rd, Jacksonville, FL, 32277, US |
| Region / Metro | Jacksonville |
| Year of Construction | 2003 |
| Units | 24 |
| Transaction Date | 2002-06-13 |
| Transaction Price | $625,000 |
| Buyer | VESTCOR FUND XXII LTD |
| Seller | CESERY WILLIAM R |
5601 Edenfield Rd Jacksonville Multifamily Investment Opportunity
Investor appeal centers on a deep renter base and newer-than-area vintage that can compete for tenants even as neighborhood occupancy sits below national midpoints, according to WDSuite’s CRE market data. Population and household growth in the immediate area support demand, while pricing power will hinge on careful affordability and lease management.
Located in an inner-suburban pocket of Jacksonville, the property benefits from a neighborhood renter-occupied share of housing units that is high for the metro (ranked 30 out of 368 neighborhoods), indicating a broad tenant pool for multifamily. At the same time, the neighborhood’s overall rank (289 of 368; C rating) places it below the metro median, so investors should underwrite to competitive positioning rather than premium assumptions.
The 2003 construction year is newer than the neighborhood’s average vintage of 1985, which can be an edge versus older stock. Investors may still plan for selective system updates or light renovations to maintain competitiveness, but the relative age profile supports leasing versus legacy assets nearby.
Daily needs are serviceable: grocery access tests above national norms (around the 72nd percentile), while cafes, restaurants, parks, and pharmacies are limited within the neighborhood. This points to a primarily residential setting where value, commute convenience, and in-unit features tend to drive leasing decisions more than lifestyle retail.
Within a 3-mile radius, WDSuite data indicates population growth over the past five years with further expansion projected through 2028, alongside an increase in households. This trajectory generally enlarges the tenant base and can support occupancy stability; however, underwriting should account for rent-to-income dynamics and demand elasticity rather than assume outsized rent growth.
Ownership costs in the neighborhood register as a high-cost ownership market relative to local incomes (value-to-income ratio near the top decile nationally), which typically sustains reliance on rental housing and can aid lease retention. Conversely, the neighborhood rent-to-income ratio reads elevated, signaling affordability pressure that warrants disciplined rent setting and renewal strategies.
Safety trends should be evaluated with care. The neighborhood ranks 254 out of 368 within the Jacksonville metro on crime, placing it below the metro median and in a lower national percentile for safety. Investors often respond with pragmatic measures such as lighting, access control, and resident engagement to support retention and asset performance.
Year-over-year estimates indicate increases in both property and violent offense rates at the neighborhood level. While block-level conditions can vary, pro forma assumptions should reflect ongoing security planning and potential operating expenses aligned with submarket comparables, rather than best-case scenarios.
Proximity to core employment nodes supports workforce housing demand and commute convenience, led by rail transportation, fintech, title insurance, and distribution employers listed below.
- CSX — rail transportation (5.3 miles) — HQ
- Fidelity National Financial — title insurance (6.1 miles) — HQ
- Fidelity National Information Services — fintech (6.1 miles) — HQ
- Anixter — electrical distribution (17.7 miles)
This 24-unit asset at 5601 Edenfield Rd offers a renter-centric location with a tenant base reinforced by a high share of renter-occupied housing units and projected growth in population and households within a 3-mile radius. The 2003 vintage is newer than the neighborhood average, positioning the property to compete against older supply with modest capital planning for systems and light renovations.
Neighborhood occupancy trends sit below national midpoints, which argues for conservative lease-up and renewal assumptions. Even so, reliance on rental housing is supported by a high-cost ownership market relative to incomes, while rent-to-income readings suggest careful affordability management. According to commercial real estate analysis from WDSuite, these dynamics favor steady demand with measured pricing power and attention to resident retention and operating discipline.
- Renter depth: High renter-occupied share supports leasing demand and renewal potential.
- Competitive vintage: 2003 build is newer than area stock, aiding positioning versus older assets.
- Growth nearby: 3-mile population and household expansion enlarges the tenant base.
- Ownership costs: Elevated ownership pricing bolsters renter reliance and supports occupancy.
- Risks: Lower safety rankings, elevated rent-to-income ratios, and below-midpoint occupancy warrant prudent underwriting and security planning.