| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 60th | Poor |
| Demographics | 38th | Poor |
| Amenities | 81st | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 255 SW 3rd Ave, Deerfield Beach, FL, 33441, US |
| Region / Metro | Deerfield Beach |
| Year of Construction | 1994 |
| Units | 83 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
255 SW 3rd Ave Deerfield Beach Multifamily Investment
Renter demand is reinforced by a neighborhood with one of the metro’s highest renter-occupied shares and improving occupancy, according to WDSuite’s CRE market data.
Neighborhood, Livability, and Investment Context
The property sits in Deerfield Beach’s inner-suburban fabric of the Fort Lauderdale–Pompano Beach–Sunrise metro, where day-to-day amenities are a relative strength. The neighborhood ranks in the top quartile among 345 metro neighborhoods for overall amenity access, with cafes, parks, pharmacies, and restaurants comparing favorably to national levels. This supports convenience-driven renter appeal and helps with leasing velocity.
Multifamily fundamentals at the neighborhood level point to stable utilization. Occupancy is above the metro median and has trended higher over the past five years, supporting more predictable cash flow. Notably, the neighborhood has the highest renter-occupied share of housing units in the metro (ranked 1 out of 345), indicating deep tenant depth for workforce and market-rate product. These neighborhood metrics reflect the surrounding area and not the property’s specific performance.
Within a 3-mile radius, demographics show population growth and a notable increase in households, expanding the nearby renter pool. Household sizes have edged lower, which can translate to sustained demand for smaller units and turnover that is manageable with disciplined leasing. Median contract rents in the 3-mile area have risen and are projected to continue increasing, while ownership remains a meaningful share, suggesting some competition from for-sale options but also a clear role for well-positioned rentals.
The asset’s 1994 vintage is newer than the neighborhood’s average construction year (1985), providing a competitive edge versus older stock. Investors should still anticipate targeted modernization or systems updates as part of long-term capital planning to support retention and achieve market-appropriate rents.
On affordability, neighborhood data show elevated rent-to-income levels relative to national benchmarks. For operators, this calls for thoughtful lease management, amenity-driven value, and measured rent setting to balance pricing power with retention risk.
Safety Context
Relative to other neighborhoods nationwide, local safety indicators are below average, and the area ranks below the metro median (ranked 252 out of 345) for crime. These figures describe neighborhood conditions, not the property itself.
Recent trends are mixed: property offenses have declined year over year, while estimates for violent offenses moved higher. For investors, that combination argues for continued focus on lighting, access control, and community engagement, as well as underwriting that reflects neighborhood-level variability rather than block-by-block assumptions.
Proximity to major employers supports a broad renter base and commute convenience. Key nearby employment nodes include corporate headquarters and regional offices in retail, healthcare, and automotive.
- Office Depot — retail/office (6.2 miles) — HQ
- Tenet Healthcare Corporation, Florida Region — healthcare administration (10.7 miles)
- AutoNation — automotive retail (13.6 miles) — HQ
- Siegel Financial Group - Northwestern Mutual — financial services offices (27.5 miles)
- Johnson & Johnson — healthcare & consumer products offices (30.7 miles)
Why Invest
This 83-unit, 1994-vintage property benefits from a renter-heavy neighborhood with above-median occupancy and strong amenity access that supports day-to-day convenience. Population and household growth within 3 miles point to a larger nearby tenant base over time, while the property’s newer-than-average vintage offers competitive positioning versus older stock and room for targeted upgrades to enhance retention.
According to CRE market data from WDSuite, neighborhood occupancy sits above metro averages and amenity density is top quartile locally, both of which can aid leasing stability. At the same time, elevated rent-to-income levels at the neighborhood scale and below-average safety percentiles argue for disciplined rent setting, resident experience investments, and prudent expense reserves.
- Deep renter base: neighborhood ranked 1 out of 345 metro neighborhoods for renter-occupied share
- Above-median occupancy with top-quartile amenity access supporting leasing and retention
- 1994 vintage offers competitive positioning versus older stock with targeted value-add potential
- 3-mile household growth expands the nearby tenant pool over the forecast horizon
- Risks: affordability pressure (rent-to-income elevated) and below-average safety metrics require careful operations