| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 53rd | Fair |
| Demographics | 45th | Fair |
| Amenities | 0th | Poor |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 5620 Collins Rd, Jacksonville, FL, 32244, US |
| Region / Metro | Jacksonville |
| Year of Construction | 1999 |
| Units | 24 |
| Transaction Date | 2020-08-12 |
| Transaction Price | $35,476,900 |
| Buyer | SREIT COURTNEY MANOR LLC |
| Seller | VCP COLLINS ROAD LLC |
5620 Collins Rd, Jacksonville FL Multifamily Investment
Neighborhood indicators point to steady renter demand and working-class appeal, according to WDSuite’s CRE market data. Focus is on neighborhood-level occupancy and renter concentration, not the property’s own performance.
Situated in Jacksonville’s inner suburbs, 5620 Collins Rd benefits from a renter-oriented area: neighborhood-level data show a high share of housing units that are renter-occupied, supporting a deeper tenant base and leasing velocity. Neighborhood occupancy trends are moderate, which suggests stable but competitive conditions for operators focused on everyday price-to-value.
Livability is car-oriented with limited neighborhood amenities within close proximity (few cafes, groceries, parks, or pharmacies measured at the neighborhood scale). For investors, this typically places more weight on on-site features, management quality, and access to major employment corridors rather than walkable retail. Median home values in the neighborhood are on the lower side for the region, which can create some competition from entry-level ownership; however, it also supports demand for more accessible multifamily options where convenience and flexible tenure drive retention.
Vintage context: the property was built in 1999, slightly older than the neighborhood’s average construction year. That positioning can offer practical value-add or light renovation opportunities (exteriors, common areas, or systems) to improve competitive standing against newer stock while keeping capex targeted.
Demographics aggregated within a 3-mile radius show household counts expanded over the past five years and are projected to continue rising even as average household size trends lower. This points to a larger but more distributed renter pool, which can support occupancy stability and broaden demand across unit types. Median contract rents in the 3-mile area have trended upward and are forecast to remain on an upward trajectory, reinforcing the case for disciplined revenue management rather than outsized growth assumptions from multifamily property research.
Safety trends at the neighborhood level are mixed and should be underwritten thoughtfully. Based on metro rankings, the neighborhood sits below the Jacksonville average on safety (ranked 256 among 368 metro neighborhoods), indicating higher reported crime relative to many peer areas. Nationally benchmarked indicators also place the neighborhood in lower percentiles for safety, signaling that enhanced on-site security practices and resident engagement may be prudent.
Investors typically mitigate these dynamics with lighting, access control, and proactive management, and by emphasizing commute convenience to nearby employment centers. Always align assumptions with current operations, recent incident trends, and insurer feedback rather than relying solely on historical statistics.
The location draws on a diversified employment base anchored by regional corporate offices in financial services, rail transportation, and distribution, supporting workforce housing demand and practical commute times. Nearby anchors include Fidelity National Financial, Fidelity National Information Services, CSX, and Anixter.
- Fidelity National Financial — financial services (8.8 miles) — HQ
- Fidelity National Information Services — financial technology (8.8 miles) — HQ
- CSX — rail transportation (9.4 miles) — HQ
- Anixter — distribution (12.9 miles)
This 24-unit asset built in 1999 sits in a renter-heavy inner-suburban pocket of Jacksonville, where neighborhood-level occupancy is moderate and the share of renter-occupied housing units is high. That backdrop supports depth of demand and day-to-day leasing stability. The asset’s slightly older vintage versus nearby stock creates practical value-add angles—targeted interior refreshes and operational enhancements—to sharpen positioning relative to early-2000s product. According to CRE market data from WDSuite, local neighborhood indicators suggest steady renter reliance alongside rising area rents, favoring disciplined revenue management over aggressive underwriting.
Within a 3-mile radius, recent growth in household counts and a forecast for continued household expansion—despite smaller average household sizes—point to a broader tenant base over time. Lower neighborhood home values can occasionally compete with entry-level ownership, but they also support durable demand for professionally managed rentals near employment nodes. Underwriting should account for amenity-light surroundings and for proactive safety and community-management practices.
- Renter-heavy neighborhood supports a larger tenant base and occupancy stability.
- 1999 vintage offers targeted value-add potential to compete with newer nearby stock.
- Household growth within 3 miles expands demand across unit types, aiding leasing and retention.
- Proximity to major employers underpins workforce demand and day-to-day leasing.
- Risks: below-metro-average safety ranking and amenity-light environment require active management and prudent underwriting.