| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 64th | Best |
| Demographics | 51st | Good |
| Amenities | 76th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 320 Carolina Forest Blvd, Jacksonville, NC, 28546, US |
| Region / Metro | Jacksonville |
| Year of Construction | 2011 |
| Units | 24 |
| Transaction Date | 2009-06-01 |
| Transaction Price | $1,350,000 |
| Buyer | SOUTHWOOD ARBORS AT CAROLINA FOREST LLC |
| Seller | JACKSONVILLE 221 D4 LLC |
320 Carolina Forest Blvd Jacksonville NC Multifamily Investment
Renter demand is supported by strong neighborhood amenities and steady occupancy, according to WDSuite s CRE market data, offering investors a durable tenant base in Jacksonville s inner suburb.
Located in Jacksonville s Inner Suburb, the neighborhood ranks 1st out of 55 metro neighborhoods overall (A+), signaling competitive livability and investor appeal. Amenity access is a clear strength: restaurants, pharmacies, childcare, and groceries all score above national medians, with restaurants and pharmacies placing in the top quartile nationally. These neighborhood-level advantages can help with leasing velocity and day-to-day resident convenience.
Multifamily fundamentals are solid at the neighborhood level. Occupancy is 91.6%, roughly around national and metro medians, which supports income stability through cycles. Renter concentration is high for the area (58.5% of housing units are renter-occupied), implying a deeper tenant base for mid-density assets and potential resilience against sporadic turnover. Neighborhood NOI per unit performance is competitive within the metro (ranked 1st of 55), underscoring favorable operations among comparable properties; this is neighborhood data, not property-specific results.
For investors considering positioning and capital planning, the subject property s 2011 construction is newer than the neighborhood s average 2005 vintage. That recency can enhance competitive standing versus older stock, while investors should still plan for routine system updates and optional modernization to support rent premiums and retention.
Within a 3-mile radius, households have increased over the past five years even as population edged down, indicating smaller household sizes and a broadening addressable renter pool. Looking ahead, projections point to additional household growth and higher incomes by 2028, which can support rent levels and occupancy stability. Home values in the neighborhood sit below many coastal markets, which can introduce some competition from ownership options; however, a 0.20 rent-to-income ratio at the neighborhood level suggests manageable affordability pressure that can aid lease retention.
Safety trends should be evaluated with care. The neighborhood s violent and property offense rates sit below national safety percentiles (i.e., less safe than many neighborhoods nationwide), and its metro crime rank is 24th among 55 neighborhoods, indicating conditions that are not among the metro s safest. That said, WDSuite data show year-over-year declines in both violent and property offenses, an encouraging directional trend investors can monitor as part of underwriting and resident experience planning.
For context, national percentile comparisons reflect relative safety versus neighborhoods across the country, while metro ranks are measured against the 55 neighborhoods in the Jacksonville, NC metro. Investors may wish to budget for standard security measures and resident communications to support retention and reputation.
This 24-unit asset built in 2011 benefits from a neighborhood with top-ranked overall livability (1st of 55) and amenity density that supports leasing. Occupancy at the neighborhood level is around the metro median, and the high share of renter-occupied housing units indicates a relatively deep tenant base. According to CRE market data from WDSuite, neighborhood NOI per unit performance ranks at the top of the metro cohort, reinforcing the area s operational profile even as asset-level performance will vary by management and finish quality.
Demographics aggregated within a 3-mile radius show household growth alongside smaller average household size, expanding the addressable renter pool. Ownership costs are comparatively accessible for the region, which can introduce competition from for-sale options; however, manageable rent-to-income levels and strong daily-needs access support retention and pricing discipline. The 2011 vintage provides competitive positioning versus older stock, while investors should plan for periodic system updates and potential light value-add to sustain rent growth and occupancy stability.
- Newer 2011 vintage offers competitive positioning versus older neighborhood stock with manageable near-term capital planning.
- High renter-occupied share at the neighborhood level supports a deeper tenant base and leasing stability.
- Top-ranked neighborhood amenities and operations (NOI per unit leadership within the metro) aid rentability and retention.
- 3-mile household growth and rising incomes expand demand for rental units and support occupancy over time.
- Risks: below-average school ratings and elevated crime metrics require prudent underwriting and reputation management.