| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 64th | Best |
| Demographics | 51st | Good |
| Amenities | 76th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 700 Charleston Ln, Jacksonville, NC, 28546, US |
| Region / Metro | Jacksonville |
| Year of Construction | 2007 |
| Units | 24 |
| Transaction Date | 2022-03-10 |
| Transaction Price | $19,250,000 |
| Buyer | CHARLESTON PLACE OWNER LLC |
| Seller | SRC CHARLESTON PLACE LLC |
700 Charleston Ln Jacksonville NC Multifamily Investment
Neighborhood fundamentals indicate steady renter demand and mid-90s occupancy stability for comparable assets, according to WDSuite’s CRE market data. Investor focus centers on deep renter-occupied housing and strong retail-amenity access that can support leasing and retention.
This Inner Suburb location in Jacksonville ranks 1st out of 55 metro neighborhoods overall (A+), reflecting balanced housing fundamentals and access to daily needs. Amenity access is a relative strength, with grocery, pharmacy, and dining options competitive among Jacksonville neighborhoods and in the top quartile nationally, supporting convenience and tenant retention.
Renter concentration in the neighborhood is elevated (about three-fifths of housing units are renter-occupied), pointing to a deeper tenant base and consistent multifamily demand. Neighborhood occupancy trends sit around the low-90s, aligning with stable leasing conditions rather than peak-tight markets.
Within a 3-mile radius, recent years show households increasing while total population edged lower, implying smaller household sizes and a gradual shift toward more individual and small-household renters—factors that can support absorption and occupancy stability. Forward-looking data indicates continued growth in households and incomes alongside moderating household sizes, which can enlarge the renter pool and underpin rent rolls.
The property’s 2007 vintage is slightly newer than the neighborhood’s average construction year (2005). That positioning can offer a competitive edge versus older stock, though investors should still anticipate targeted capital for systems refresh and light renovations to sustain leasing velocity.
Home values in the neighborhood track near national medians, which can introduce some competition from ownership options. For operators, this tilts strategy toward value, service quality, and amenity-driven leasing to maintain pricing power without pushing rent-to-income ratios to levels that elevate retention risk.
Safety metrics for the neighborhood trend below national norms, with crime ranks indicating higher incident rates versus the metro average (24th out of 55 metro neighborhoods signals a weaker position, where lower ranks denote more crime). National percentiles also sit on the lower end, pointing to elevated property and violent incident exposure relative to many U.S. neighborhoods.
That said, recent year-over-year readings show double-digit reductions in both property and violent offense estimates, suggesting directional improvement. Investors typically account for this by enhancing on-site lighting, access control, and community engagement, and by aligning marketing toward residents prioritizing convenience and proximity to services.
The submarket’s employment base includes defense, healthcare, education, and retail services that contribute to steady renter demand and commute convenience. Specific nearby employer distances were not available in WDSuite for this address at the time of analysis, so we have omitted the list rather than estimate.
700 Charleston Ln is a 24-unit, 2007-vintage asset positioned in a Jacksonville neighborhood that ranks at the top of the metro for overall fundamentals. Strong amenity access and a high share of renter-occupied housing support a durable tenant base and stable occupancy. According to CRE market data from WDSuite, neighborhood-level NOI performance outpaces national norms, indicating operational headroom for capable operators.
The vintage is slightly newer than local averages, providing relative competitiveness against older stock while leaving room for targeted value-add through interior refreshes and systems upkeep. Household growth within a 3-mile radius alongside smaller average household sizes points to a larger renter pool over time, which can aid leasing consistency—balanced by the need to manage affordability and differentiate versus nearby ownership options.
- Top-ranked neighborhood in the Jacksonville metro with strong amenity access supporting retention
- Elevated renter-occupied housing share indicates a deeper tenant base and demand stability
- 2007 vintage offers competitive positioning with potential value-add via selective upgrades
- 3-mile area trends toward more households and smaller sizes, expanding the renter pool
- Risks: below-average safety metrics and competition from ownership options require active operations and pricing discipline