| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 53rd | Good |
| Demographics | 56th | Best |
| Amenities | 42nd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1324 Halltown Rd, Jacksonville, NC, 28546, US |
| Region / Metro | Jacksonville |
| Year of Construction | 1987 |
| Units | 20 |
| Transaction Date | 2000-05-02 |
| Transaction Price | $525,000 |
| Buyer | BAYSDEN TIMOTHY |
| Seller | --- |
1324 Halltown Rd Jacksonville Multifamily Investment
Neighborhood occupancy has been resilient with steady renter demand, according to WDSuite’s CRE market data, supporting durable income potential for a 20-unit asset in a lower-density corridor of Jacksonville, NC. Rents remain moderate for the metro, which can aid retention while leaving room for targeted value-add positioning.
The property sits in a rural-feel pocket of Jacksonville that rates A- overall and is competitive among Jacksonville neighborhoods (ranked 11 out of 55). Daily conveniences are reasonably accessible for the submarket profile: grocery and pharmacy access track above many peers in the metro, while cafes and parks are limited, reinforcing a car-oriented lifestyle rather than amenity-driven leasing.
For investors, the neighborhood s occupancy trend is a key strength. The neighborhood occupancy rate is in the above-metro-median range (ranked 16 out of 55) and sits around the middle of U.S. neighborhoods nationally, which supports income stability and helps reduce downtime between turns. Median contract rents benchmark in the mid-range locally, indicating room to compete on value and finish level without relying solely on top-of-market pricing.
Construction year norms in the area average late-1980s. With a 1987 vintage, the asset is slightly older than the neighborhood average, suggesting investors should underwrite selective capital planning for building systems and interiors; that also creates potential for targeted renovations to differentiate versus similarly aged stock.
Within a 3-mile radius, demographics point to a stable renter base with nuanced shifts: population softened over the past five years while household counts inched higher, indicating smaller household sizes and a steady pool of leaseholders. Renter-occupied housing comprises roughly a quarter of units in this radius, which supports a consistent multifamily demand base even as ownership remains prevalent. Home values are lower versus many national markets, which can create some competition from ownership options, but rent-to-income levels generally signal manageable affordability pressure that can support retention and steady leasing. Average school ratings trail national norms, which may matter for family-oriented demand, though the area s workforce orientation and access to daily services can offset for many renter segments.
Safety metrics are mixed compared with regional and national benchmarks. Relative to 55 Jacksonville neighborhoods, this area s overall crime rank (21 of 55) indicates safety levels below the metro median. Nationally, the neighborhood sits below the midrange for safety. That said, both violent and property offense estimates have eased year over year, suggesting incremental improvement rather than deterioration.
Investors should underwrite conservative security and operating assumptions (lighting, access control, and tenant screening) while noting that recent trend data shows modest declines in estimated violent and property offenses. Framing safety at the neighborhood scale avoids over-interpreting block-level variation and keeps focus on portfolio-level risk management.
This 20-unit, 1987-vintage property offers a pragmatic workforce housing play in a competitive Jacksonville neighborhood with steady occupancy and mid-range rents. According to CRE market data from WDSuite, neighborhood occupancy performance sits above the metro median and in the mid pack nationally, supporting income durability while leaving scope for pragmatic value-add to capture incremental rent. Local home values remain relatively accessible compared with many U.S. markets, which can create some competition from ownership but also supports lease retention for renters prioritizing monthly payment predictability.
Demographic indicators within a 3-mile radius show modest household growth despite softer population counts, pointing to smaller households and a stable tenant base. With an asset slightly older than the neighborhood average, targeted capital improvements to interiors and common areas can strengthen competitive positioning versus similar late-1980s stock without overextending to luxury levels.
- Above-metro-median neighborhood occupancy supports cash flow stability
- 1987 vintage enables focused value-add on systems and interiors
- Household growth within 3 miles expands the renter pool despite softer population
- Mid-range rents create room to compete on finish and service
- Risks: safety sits below metro median and ownership alternatives can compete; underwrite security and concessions accordingly