| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 64th | Best |
| Demographics | 51st | Good |
| Amenities | 76th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2075 Carolina Park Ave, Jacksonville, NC, 28546, US |
| Region / Metro | Jacksonville |
| Year of Construction | 2012 |
| Units | 91 |
| Transaction Date | 2011-12-21 |
| Transaction Price | $1,200,000 |
| Buyer | WELLINGTON GROVE LLC |
| Seller | BHP WESTERN |
2075 Carolina Park Ave Jacksonville 2012 91-Unit Multifamily
Neighborhood fundamentals point to steady renter demand and competitive occupancy, according to WDSuite’s CRE market data. The 2012 vintage positions the asset well versus older stock while leaving room for selective modernization to support retention.
Location quality: The property sits in a top-ranked Jacksonville neighborhood (A+; ranked 1st out of 55 metro neighborhoods), indicating strong local fundamentals that have historically supported multifamily performance. Amenity access scores above national norms, with dining, pharmacies, childcare, and grocery options that enhance daily convenience for residents.
Rents and occupancy: Neighborhood rents are mid-range nationally (median contract rent sits near the national middle), which can aid leasing velocity. Occupancy is competitive among Jacksonville neighborhoods based on its rank position, supporting income stability for well-managed assets in this area.
Renter depth and demand: The neighborhood shows a high share of renter-occupied housing units, signaling a deep tenant base for multifamily owners. Within a 3-mile radius, recent years show increasing households and smaller average household sizes, which typically expand the renter pool and support occupancy stability for professionally managed communities.
Costs and competitiveness: Ownership is relatively more accessible here compared with many U.S. neighborhoods, which can create some competition with entry-level ownership options. For operators, this usually means focusing on service, amenities, and unit quality to sustain pricing power and lease retention.
Neighborhood safety metrics track below national percentiles, indicating a comparatively higher incidence of reported offenses than many U.S. neighborhoods. Within the Jacksonville metro, overall crime positioning is around the metro median, and recent year-over-year estimates show double-digit declines in both violent and property offenses, suggesting improving trends. Investors should underwrite with prudent security and operations assumptions while noting the directional improvement.
Built in 2012, the 91-unit asset benefits from a newer vintage relative to the neighborhood average, offering competitive positioning versus older stock while leaving room for targeted updates to elevate rents and retention. The property is embedded in Jacksonville’s top-rated neighborhood, with amenity access and a renter-occupied housing profile that reinforce multifamily demand and occupancy stability, based on CRE market data from WDSuite.
Within a 3-mile radius, the area shows growth in households and a trend toward smaller household sizes, which typically expands the local renter base. Neighborhood rents sit near national midpoints, supporting leasing velocity, while relatively accessible ownership costs in the area can create competition—an underwriting consideration that favors well-amenitized, well-managed communities.
- 2012-built, 91 units: competitive versus older local stock with selective value-add potential
- Top-ranked neighborhood among 55 Jacksonville areas supports renter demand and occupancy stability
- Household growth and smaller sizes within 3 miles point to a larger renter base over time
- Mid-range neighborhood rents aid leasing; amenity access helps retention
- Risks: below-national safety percentiles and accessible ownership options require focused operations