| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 60th | Poor |
| Demographics | 38th | Poor |
| Amenities | 81st | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 299 SW 3rd Ave, Deerfield Beach, FL, 33441, US |
| Region / Metro | Deerfield Beach |
| Year of Construction | 1987 |
| Units | 100 |
| Transaction Date | 2019-12-07 |
| Transaction Price | $9,164,900 |
| Buyer | B NAI B RITH APARTMENTS OF DEERFIELD BEA |
| Seller | FLORIDA ST B NAI B RITH SENIOR CITIZENS |
299 SW 3rd Ave Deerfield Beach Multifamily Investment
Neighborhood fundamentals indicate steady renter demand with a very high share of renter-occupied housing and occupancy trending upward, according to WDSuite’s CRE market data. For investors, this points to stable leasing conditions rather than outsized volatility.
The property sits in an Inner Suburb of Deerfield Beach where day-to-day convenience is strong. Amenity access ranks competitive among Fort Lauderdale-Pompano Beach-Sunrise neighborhoods and in the top quartile nationally, supported by dense coverage of restaurants, parks, pharmacies, and cafes. This mix typically helps with leasing velocity and resident retention.
Neighborhood occupancy performance is above the metro median among 345 neighborhoods, and the area shows a very high concentration of renter-occupied units. For multifamily owners, that depth of the renter base can underpin demand across cycles, though pricing should still be set with local affordability in mind.
Within a 3-mile radius, demographics point to a larger tenant pool over time. Population and households have grown in recent years, with forecasts indicating further gains and rising incomes. These trends support steady absorption, while projected rent growth suggests potential for continued revenue expansion if operators balance renewals and new-lease trade-outs thoughtfully.
Home values in the immediate neighborhood are comparatively accessible relative to many coastal South Florida submarkets. While that can introduce some competition from ownership options, the strong renter concentration nearby and commuter-friendly location provide counterweights that can sustain rental demand for well-managed assets.
Safety indicators are mixed. The neighborhood’s crime rank sits below the metro median among 345 Fort Lauderdale-Pompano Beach-Sunrise neighborhoods and falls below the national median for safety. Recent trends show estimated property offenses declining year over year, while estimated violent offenses moved higher. Investors should underwrite with practical measures such as lighting, access control, and resident engagement to support retention.
The area draws from a diversified employment base that supports renter demand and commute convenience, including headquarters and major offices in retail, healthcare, financial services, and pharmaceuticals listed below.
- Office Depot — retail HQ and corporate services (6.3 miles) — HQ
- Tenet Healthcare Corporation, Florida Region — healthcare services (10.7 miles)
- AutoNation — automotive retail corporate (13.5 miles) — HQ
- Siegel Financial Group - Northwestern Mutual — financial services (27.6 miles)
- Johnson & Johnson — pharmaceuticals (30.6 miles)
This 100-unit Deerfield Beach asset benefits from a renter-heavy neighborhood with occupancy performance above the metro median and amenities that support daily convenience. Within a 3-mile radius, recent and forecast growth in households and incomes points to a larger tenant base and durable absorption. According to CRE market data from WDSuite, local rent levels have trended upward, reinforcing the case for steady cash flow when paired with disciplined lease management.
Balanced underwriting should account for two considerations: safety metrics that trail metro and national medians, and an ownership market that is relatively accessible in the immediate area, which can create competition at certain rent thresholds. Thoughtful operations, modest unit improvements, and attention to affordability positioning can help sustain occupancy and renewal rates.
- Renter-heavy neighborhood with occupancy above the metro median supports stable leasing
- Amenity-rich Inner Suburb location aids retention and leasing velocity
- 3-mile growth in households/incomes expands the prospective tenant base
- Upward rent trajectory (per WDSuite) offers revenue potential with disciplined renewals
- Risks: safety metrics below median and ownership competition require prudent pricing and operations