| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 64th | Best |
| Demographics | 55th | Good |
| Amenities | 37th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 203 Valencia Dr, Jacksonville, NC, 28546, US |
| Region / Metro | Jacksonville |
| Year of Construction | 1986 |
| Units | 104 |
| Transaction Date | 2002-04-24 |
| Transaction Price | $3,784,000 |
| Buyer | PARK WEST APARTMENTS OF JACKSO |
| Seller | --- |
203 Valencia Dr Jacksonville NC Multifamily Investment
Neighborhood occupancy is strong and has trended upward, according to WDSuite’s CRE market data, supporting stable cash flow potential for a 1986-vintage, 104-unit asset in Jacksonville, NC. Focus is on consistent renter demand and the submarket’s steady performance rather than outsized growth narratives.
The property sits in an Inner Suburb neighborhood of Jacksonville rated A and ranked 6 out of 55 metro neighborhoods, indicating competitive positioning locally. Neighborhood occupancy is high (ranked 11 of 55 and in the top quartile nationally), which generally supports leasing stability for professionally managed multifamily assets. Median rents in the neighborhood have risen over the past five years, suggesting sustained renter demand without signaling overheating.
Livability is mixed: parks access ranks 2 of 55 and restaurants density ranks 7 of 55, pointing to everyday recreation and dining options. However, grocery, pharmacy, and café counts are limited within the neighborhood (each ranking near the bottom locally), so residents may rely on a slightly broader trade area for daily needs. Average school ratings were not reported in the dataset and should be verified during diligence.
Tenure patterns indicate a meaningful rental market: the neighborhood shows roughly one-third of housing units as renter-occupied, while within a 3-mile radius more than half of units are renter-occupied. For investors, this points to a workable depth of the tenant base and supports ongoing demand for multifamily housing, especially for well-managed, midscale communities.
The asset’s 1986 construction is older than the neighborhood’s average vintage (2002), creating potential value-add angles through interior upgrades and systems modernization, along with a need for prudent capital expenditure planning. Home values locally are moderate in a regional context, and rent-to-income levels indicate manageable affordability pressure, which can help retention and reduce turnover risk when paired with thoughtful lease management.
Safety indicators are mixed compared with regional and national benchmarks. The neighborhood’s crime rank is 19 out of 55 within the Jacksonville metro, which is below the metro median, and national percentiles indicate conditions that are weaker than U.S. averages. That said, recent year-over-year trends show improvement, with both violent and property offense rates moving lower, signaling momentum in the right direction.
For investors, the takeaways are twofold: underwriting should reflect neighborhood-level security considerations relative to other Jacksonville sub-areas, while acknowledging recent positive directionality. As always, evaluate on-site measures, lighting and access control, and property-level incident history to align operations with resident expectations.
This 104-unit, 1986-vintage community benefits from a Jacksonville neighborhood that ranks competitively within the metro and maintains high occupancy, supporting leasing stability. According to CRE market data from WDSuite, the neighborhood’s occupancy performance stands above the metro median and in the top quartile nationally, while five-year rent gains reinforce steady renter demand. The older vintage versus local stock (average 2002) presents practical value-add opportunities through renovations and system updates that can strengthen competitive positioning.
Demographic data aggregated within a 3-mile radius shows a large renter pool and forecasts a slight population uptick alongside an increase in households, implying smaller household sizes and a sustained need for rental options. Balanced home values and rent-to-income levels point to manageable affordability pressure, which can aid tenant retention. Key risks include amenity gaps within the immediate neighborhood and safety metrics that trail national averages, both of which are manageable with targeted operations and prudent underwriting.
- Competitive neighborhood standing within the Jacksonville metro and solid occupancy backdrop
- 1986 vintage offers clear value-add and systems modernization pathways
- Three-mile demographics support a sizable renter base and ongoing leasing demand
- Manageable rent-to-income dynamics support retention and pricing discipline
- Risks: limited nearby daily amenities and safety metrics below national averages require operational focus