| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 43rd | Fair |
| Demographics | 34th | Poor |
| Amenities | 67th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 95 Market St, Jacksonville, NC, 28540, US |
| Region / Metro | Jacksonville |
| Year of Construction | 1985 |
| Units | 20 |
| Transaction Date | 1994-12-09 |
| Transaction Price | $450,000 |
| Buyer | SHILOH APOSTOLIC HOLINESS CHURCH |
| Seller | --- |
95 Market St Jacksonville NC Multifamily Investment
Neighborhood data points to durable renter demand, with a renter-occupied housing share in the top quartile among 55 Jacksonville neighborhoods, according to WDSuite’s CRE market data. This positioning supports leasing stability for a 20-unit asset while offering pricing discipline in a submarket with improving amenity access.
Located in an inner suburb of Jacksonville with an A- neighborhood rating (ranked 10th of 55 metro neighborhoods), the area stands out for daily convenience: grocery, restaurants, parks, and pharmacies rank near the top within the metro and score well versus national peers. Cafes are limited, but overall amenity access is competitive and supports day-to-day livability for tenants.
The neighborhood skews renter-heavy, with the share of renter-occupied housing among the top quartile locally. For investors, that indicates a deep tenant base and generally resilient demand for multifamily units. Neighborhood occupancy trends have improved over the last five years, which can support steadier cash flow even if leasing cycles lengthen.
Demographic statistics within a 3-mile radius show a modest population decline in recent years but a stable outlook with slight growth projected ahead. Households are expected to increase while average household size trends lower, pointing to a broader renter pool and demand for smaller-format units—factors that can help sustain occupancy and absorption.
Ownership costs in the area are comparatively accessible versus many U.S. markets, which can introduce some competition from for-sale options. At the same time, rent-to-income levels indicate manageable affordability pressure for renters, suggesting balanced retention and renewal dynamics rather than outsized pricing power. Average school ratings are below national medians, which can influence family preferences; however, proximity to daily services and parks helps maintain appeal for a broad renter profile.
The property’s 1985 vintage is newer than the neighborhood’s older housing stock. This can provide a competitive edge over mid-century buildings, while still leaving room for targeted modernization to enhance unit quality, operating efficiency, and rent positioning.
Safety indicators for the neighborhood track below national averages, but recent year-over-year trends show improvement, including notable declines in both violent and property offenses, based on WDSuite’s community data. Within the Jacksonville metro, the area sits around the middle of the pack, and continued monitoring of trend lines is prudent for underwriting and retention planning.
For investors, the key takeaway is directional improvement rather than a categorical signal. Combining active property management, lighting and access controls, and resident engagement can help align on-site experience with the neighborhood’s improving trajectory.
Regional employment is diversified, with access to advanced manufacturing supporting commuter-based renter demand. Nearby corporate presence includes the following employer.
- Corning Optical Fiber Wilmington — advanced manufacturing (44.2 miles)
This 20-unit asset at 95 Market St benefits from a renter-leaning neighborhood with improving amenities and steady occupancy dynamics. According to CRE market data from WDSuite, the area’s renter-occupied share sits in the top tier locally, supporting a deeper tenant base and more predictable leasing. Ownership costs are comparatively accessible, which can temper rent growth but also sustain broader housing mobility; taken together with balanced rent-to-income levels, the setup favors consistent absorption over outsized spikes.
Built in 1985, the property is newer than much of the surrounding housing stock, offering a competitive position versus older inventory while leaving room for targeted value-add projects that modernize systems and finishes. Demographic statistics aggregated within a 3-mile radius suggest households are set to expand even as average household size declines—signals that can enlarge the renter pool and support occupancy stability over the hold.
- Renter-heavy neighborhood supports demand depth and leasing stability.
- Strong daily convenience with top-ranked grocery, parks, and restaurants in the metro.
- 1985 vintage offers competitive positioning versus older stock with value-add upside.
- 3-mile household expansion and smaller household sizes point to a growing renter pool.
- Risks: below-national safety levels and accessible ownership options may cap pricing power—underwrite to steady, not outsized, rent growth.