| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 63rd | Good |
| Demographics | 55th | Good |
| Amenities | 66th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 989 Monument Rd, Jacksonville, FL, 32225, US |
| Region / Metro | Jacksonville |
| Year of Construction | 2006 |
| Units | 20 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
989 Monument Rd Jacksonville Multifamily Investment Outlook
Renter concentration in the surrounding neighborhood is high and occupancy has improved in recent years, supporting depth of tenant demand, according to WDSuite s CRE market data. Newer construction at this address relative to nearby stock can help competitiveness while investors plan for mid-life system updates.
Located in Jacksonville s Inner Suburb fabric, the neighborhood carries an A- rating and ranks 63 out of 368 metro neighborhoods competitive among Jacksonville neighborhoods for investors screening multifamily exposure. Dining density is a local strength (restaurants rank in the low-20s out of 368), with pharmacies and parks above typical levels for the metro, while grocery access is solid but not a standout, based on CRE market data from WDSuite.
The property s 2006 vintage is newer than the neighborhood s average construction year of 1986. For investors, that often translates to relative leasing appeal versus older comparables, while still budgeting for mid-life capital items (HVAC, roofs, common-area refresh) rather than full-scope repositioning.
Tenure patterns indicate a deep renter base: the neighborhood s share of housing units that are renter-occupied is elevated, supporting multifamily demand and leasing velocity. At the wider 3-mile radius, tenure is more balanced, which broadens the prospect pool while still sustaining renter demand for professionally managed units.
Demographics within a 3-mile radius show population and household growth over the past five years with further gains projected, pointing to a larger tenant base and support for occupancy stability. Household sizes are edging down slightly, which can benefit smaller-unit absorption. Median contract rents in the area have risen over time, and ownership costs sit on the higher side relative to incomes (value-to-income ranks in a high national percentile), reinforcing renter reliance on multifamily housing rather than competing directly with entry-level ownership.
Safety indicators for this neighborhood trend weaker than both metro and national norms. Crime ranks in the lower end of Jacksonville s distribution (near the bottom when compared with 368 neighborhoods) and falls in low national percentiles, indicating a comparatively higher incidence environment versus many U.S. neighborhoods, based on WDSuite s CRE market data.
Recent year-over-year readings indicate increases in both property and violent offense estimates. Investors typically respond by underwriting enhanced security, lighting, resident screening, and partnership with local patrol resources, and by aligning rent and marketing strategies to sustain leasing and retention despite the headwind.
Proximity to major corporate offices supports a steady commuter renter pool and can aid lease retention, particularly for workforce professionals tied to these employment centers.
- CSX corporate offices (7.2 miles) HQ
- Fidelity National Financial corporate offices (7.9 miles) HQ
- Fidelity National Information Services corporate offices (7.9 miles) HQ
- Anixter corporate offices (13.9 miles)
This 20-unit asset s 2006 construction positions it newer than much of the surrounding housing stock, offering competitive appeal versus older properties while calling for measured mid-life capital planning rather than heavy redevelopment. Neighborhood fundamentals are serviceable for multifamily: renter-occupied share is high, occupancy in the area has trended upward over five years, and amenities (dining, parks, pharmacies) are supportive of livability. According to CRE market data from WDSuite, home values relative to incomes are elevated locally, which tends to sustain rental demand and can aid lease retention.
Within a 3-mile radius, population and households have grown and are projected to continue expanding, enlarging the tenant base. Rent levels have increased over time, but rent-to-income ratios remain comparatively manageable, suggesting room for steady renewals even if near-term pricing power should be applied thoughtfully.
- Newer 2006 vintage versus neighborhood average supports leasing competitiveness with moderate capital needs.
- High renter-occupied share and improving neighborhood occupancy underpin demand depth and stability.
- Amenity-rich micro-location (dining, parks, pharmacies) enhances renter appeal and retention potential.
- Growth in population and households within 3 miles expands the prospective tenant pool and supports absorption.
- Risk: Crime indicators are elevated versus metro and national benchmarks; underwriting should reflect security and retention strategies.