| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 64th | Best |
| Demographics | 51st | Good |
| Amenities | 76th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2310 Indian Dr, Jacksonville, NC, 28546, US |
| Region / Metro | Jacksonville |
| Year of Construction | 1985 |
| Units | 20 |
| Transaction Date | 2020-03-04 |
| Transaction Price | $750,000 |
| Buyer | ALTERNATING CURRENCY LLC |
| Seller | HENDRICKS THOMAS H |
2310 Indian Dr, Jacksonville NC — 20-Unit Multifamily Value-Add
Neighborhood occupancy is steady and renter concentration is elevated, supporting a durable tenant base according to WDSuite’s CRE market data. With a 1985 vintage in a submarket where newer stock is common, the asset may benefit from targeted renovations to stay competitive.
The property sits in an inner-suburban neighborhood rated A+ and ranked 1 out of 55 Jacksonville metro neighborhoods, indicating strong local fundamentals for multifamily. Amenity access is a relative strength: restaurants, childcare, and pharmacies score in the top quartile nationally, supporting day-to-day convenience that helps with leasing and retention.
Rents in the neighborhood track near national midpoints, and the rent-to-income profile indicates manageable affordability pressure, which can aid renewals and stabilize turnover. The neighborhood’s occupancy is competitive among Jacksonville neighborhoods (ranked 19 of 55), suggesting steady demand without signaling overheating. Renter-occupied share is high at 58.5%, pointing to depth in the tenant pool and consistent multifamily demand.
Home values are lower relative to national norms, which can introduce some competition from ownership options; however, this also supports sustained interest in more accessible rental options and can moderate volatility in leasing velocity. Average school ratings are below national midpoints (2.0/5), a factor to consider for unit-mix positioning and marketing.
Vintage is a consideration: the neighborhood’s average construction year trends newer (2005). With a 1985 build, investors should underwrite capital planning and value-add potential to maintain competitive positioning against younger stock. Neighborhood-level NOI per unit trends rank at the top among 55 metro neighborhoods, a constructive backdrop for operations when paired with disciplined expense control.
Safety indicators are mixed. Compared with neighborhoods nationwide, this area scores below national safety percentiles; however, recent year-over-year trends show double-digit declines in both violent and property offense estimates, signaling improvement. Within the Jacksonville metro, crime ranks around the middle of 55 neighborhoods, so investors should weigh current perceptions alongside the improving trajectory when assessing leasing and insurance assumptions.
2310 Indian Dr offers a 20-unit footprint in an A+-rated inner-suburban location where neighborhood occupancy is competitive and renter concentration is high, supporting demand resilience. The 1985 vintage presents clear value-add and modernization angles in a submarket with newer average stock, enabling upgrades that can enhance rentability and retention while maintaining a pragmatic capex plan. Demographic statistics within a 3-mile radius show households have grown over the past five years and are projected to increase further, which supports a larger tenant base and occupancy stability.
According to CRE market data from WDSuite, local amenity access is a relative strength and neighborhood-level income and rent positioning are balanced, helping manage affordability pressure and lease management. Risks include below-median school ratings, a safety profile that remains below national norms despite improving trends, and potential competition from ownership given relatively accessible home values; underwriting should reflect these factors.
- Competitive neighborhood occupancy and elevated renter-occupied share support demand stability.
- 1985 vintage offers value-add potential versus newer neighborhood stock; plan targeted renovations and systems updates.
- Strong amenity access and balanced rent-to-income dynamics aid leasing and renewal performance.
- Expanding households within 3 miles indicate a growing tenant base that can support occupancy.
- Risks: below-national safety benchmarks, weaker school ratings, and ownership competition warrant conservative assumptions.