| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 64th | Best |
| Demographics | 55th | Good |
| Amenities | 37th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 190 Valencia Dr, Jacksonville, NC, 28546, US |
| Region / Metro | Jacksonville |
| Year of Construction | 2009 |
| Units | 60 |
| Transaction Date | 2006-04-20 |
| Transaction Price | $379,000 |
| Buyer | BAKER TIMOTHY H |
| Seller | A & W II LLC |
190 Valencia Dr, Jacksonville NC Multifamily Investment
Positioned in an inner-suburb pocket of Jacksonville with neighborhood occupancy trending strong, this 60-unit, 2009-vintage asset offers durable renter demand and competitive positioning versus older stock, according to WDSuite’s CRE market data.
The property sits in an Inner Suburb neighborhood rated A and ranked 6 out of 55 within the Jacksonville metro, indicating competitive fundamentals among local peers. Neighborhood occupancy is measured at the neighborhood level, not the property, and sits in the upper tier for the region, supporting income stability and lease retention potential.
Livability is supported by park access (ranked 2 of 55 metro neighborhoods) and a solid mix of restaurants (competitive within the metro), while cafes, groceries, and pharmacies are limited nearby. Childcare access is comparatively strong, which can support working households. School scores are not available in the dataset; investors may wish to underwrite education quality via third-party checks.
Rents in the neighborhood track mid-market levels with steady five-year growth, while the rent-to-income profile suggests manageable affordability pressure, which can aid retention and reduce turnover volatility. Home values are lower than many coastal markets, which can introduce some competition from ownership alternatives; however, the area’s renter concentration and stable neighborhood occupancy help sustain multifamily demand and pricing power.
Within a 3-mile radius, demographics show a large young-adult cohort alongside modest recent population softening, but forecasts point to incremental household expansion. A renter-occupied share around half of housing units indicates a deep tenant base, supporting lease-up and ongoing absorption for workforce-oriented product.
Safety indicators are mixed. The neighborhood’s crime ranking is 19th out of 55 Jacksonville metro neighborhoods, signaling higher incident levels than the metro median. Compared with neighborhoods nationwide, overall safety sits below the national midpoint. That said, property-related offenses show a recent year-over-year decline, while violent-offense trends have eased slightly. Investors commonly address this by underwriting appropriate security measures and factoring neighborhood benchmarks into insurance and operating assumptions.
This 2009 construction provides a competitive edge versus the area’s older housing stock (average vintage 2002), limiting near-term capital exposure while leaving room for targeted upgrades to elevate rents. Neighborhood occupancy remains high relative to metro and national norms, supporting income durability. Within a 3-mile radius, a sizable renter pool and gradual household growth outlook point to continued demand for well-managed units, and mid-market rents offer room for disciplined revenue management without pushing affordability risk beyond typical thresholds—based on CRE market data from WDSuite.
The submarket’s amenity mix skews toward parks and restaurants rather than daily retail, and safety ranks warrant prudent underwriting; however, steady rent trends, balanced rent-to-income levels, and the property’s scale (60 units) position it to capture demand from workforce renters seeking modern 2000s product.
- High neighborhood occupancy supports income stability and pricing discipline.
- 2009 vintage offers competitive positioning versus older stock with targeted value-add potential.
- Large renter base within 3 miles and steady rent growth underpin leasing and retention.
- Amenity strengths in parks and restaurants enhance livability despite limited daily retail nearby.
- Risks: safety ranks below metro median and local ownership options may compete at the margin; underwrite security and concessions accordingly.