| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 52nd | Poor |
| Demographics | 37th | Poor |
| Amenities | 52nd | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 305 Lock Rd, Deerfield Beach, FL, 33442, US |
| Region / Metro | Deerfield Beach |
| Year of Construction | 1989 |
| Units | 32 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
305 Lock Rd Deerfield Beach Multifamily Investment
Neighborhood-level data points to a durable renter base and stable leasing conditions, according to WDSuite’s CRE market data. The asset’s location in Deerfield Beach offers practical access to employment nodes while serving demand from renter-occupied housing nearby.
Situated in an Inner Suburb of the Fort Lauderdale–Pompano Beach–Sunrise metro, the area offers everyday convenience more than destination retail. Childcare density is competitive among 345 metro neighborhoods and sits in the top quartile nationally, while parks and pharmacies also rank competitive locally. Café and grocery density is limited in the immediate neighborhood, a consideration for resident convenience.
Neighborhood renter-occupied housing concentration is above the metro median, indicating a deeper tenant base for multifamily. While neighborhood occupancy is nearer the middle of the pack, it has trended upward over the last five years, supporting more predictable leasing and retention over a hold period.
Within a 3-mile radius, population and households have grown over the past five years and are projected to continue expanding through 2028, pointing to a larger renter pool over time. These trends support occupancy stability and absorption for well-managed assets.
Home values in the neighborhood sit below national norms, which can introduce some competition from ownership options; effective leasing and amenities may be important for pricing power and retention. The property’s 1989 vintage is newer than the neighborhood’s average 1982 stock, offering relative competitiveness versus older buildings, though investors should plan for modernization of aging systems and targeted value-add.
Safety indicators for the neighborhood are below national norms and below the metro median among 345 Fort Lauderdale–Pompano Beach–Sunrise neighborhoods. This suggests investors should underwrite with prudent security, lighting, and resident-experience measures to support retention.
Recent momentum is mixed: estimated property offenses declined approximately 28.7% year over year, a positive directional trend, while violent offense measures remain weaker than national benchmarks. Framing security improvements and community standards into operations can help manage risk.
Proximity to diversified employers supports workforce housing demand and commute convenience, led by office supplies, healthcare, and automotive retail corporate offices.
- Office Depot — office supplies (5.7 miles) — HQ
- Tenet Healthcare Corporation, Florida Region — healthcare services (9.6 miles)
- AutoNation — automotive retail (13.9 miles) — HQ
- Siegel Financial Group - Northwestern Mutual — financial services (27.2 miles)
305 Lock Rd is a 1989-vintage, 32-unit multifamily asset positioned to serve a renter-heavy neighborhood in Deerfield Beach. Based on commercial real estate analysis from WDSuite, the surrounding area shows an above-median renter-occupied housing share and upward-trending neighborhood occupancy, supporting demand depth and day-one leasing stability.
Within a 3-mile radius, recent and projected growth in population and households points to a larger renter pool over the next several years, reinforcing absorption potential. The 1989 vintage is slightly newer than the neighborhood average, offering relative competitiveness versus older stock; investors should still budget for system modernization and targeted renovations. Lower home values nearby may create some competition with ownership, and rent-to-income levels suggest affordability pressure that calls for disciplined lease management and amenity-driven retention.
- Renter-heavy neighborhood supports a deeper tenant base and steadier leasing
- 3-mile population and household growth bolster long-term absorption
- 1989 construction offers relative competitiveness with value-add and system updates
- Risks: below-median neighborhood safety, limited café/grocery options, and pricing sensitivity from affordability pressure