| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 42nd | Poor |
| Demographics | 23rd | Poor |
| Amenities | 28th | Poor |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 311 NW 42nd Ct, Deerfield Beach, FL, 33064, US |
| Region / Metro | Deerfield Beach |
| Year of Construction | 1974 |
| Units | 26 |
| Transaction Date | 2011-09-27 |
| Transaction Price | $5,346,500 |
| Buyer | BH STR LLC |
| Seller | YOSS PRASHKOVSKY LLC |
311 NW 42nd Ct Deerfield Beach Multifamily Investment
Steady workforce demand and a growing household base within a 3-mile radius point to a deeper renter pool, according to WDSuite s CRE market data, supporting long-run leasing durability with attentive operations.
Located in Deerfield Beach s inner suburban fabric of the Fort Lauderdale-Pompano Beach-Sunrise metro, the neighborhood rates below the metro median (ranked 337 among 345 neighborhoods), signaling investors should underwrite conservatively for lease-up velocity and renewal pacing. Neighborhood occupancy trends sit below regional norms, yet rents have risen in recent years and forward projections indicate continued rental demand, which can support cash flow with active management.
Livability is mixed: childcare and pharmacy access score better than many peer areas (nationally higher percentiles), while cafes, groceries, parks, and restaurants are sparse, implying more auto-oriented living. For multifamily, that typically shifts emphasis to on-site convenience, parking, and resident services to drive retention.
The asset s vintage is 1974, slightly older than the neighborhood s average 1976 construction year. For investors, this points to capital planning for building systems and an opportunity to capture value-add upside through targeted renovations and modernization that enhance competitive positioning versus newer stock.
Within a 3-mile radius, households have increased and are projected to continue growing, with the renter-occupied share around two-fifths of units. This supports a broader tenant base and potential occupancy stability over the cycle. At the same time, elevated rent-to-income ratios at the neighborhood level signal affordability pressure, so prudent lease management and amenity-value alignment remain important to sustain retention.
Ownership costs locally are relatively more accessible compared with many coastal Florida submarkets, which can create some competition from entry-level ownership. For multifamily operators, this typically rewards product differentiation, resident experience, and well-calibrated pricing to maintain demand depth and renewal rates.
Safety indicators track below the national median and below metro averages for Fort Lauderdale-Pompano Beach-Sunrise. The neighborhood s crime position (ranked 211 of 345 metro neighborhoods) suggests investors should plan for practical measures such as lighting, access control, and community engagement to support resident confidence.
Nationally, the area sits below mid-pack percentiles for both violent and property incidents, though recent data show a slight decrease in property offenses year over year alongside an uptick in violent incidents. For underwriting, it s prudent to assume ongoing security diligence and budget modestly for safety-related operating expenses.
Nearby corporate employers provide a diversified employment base that supports renter demand and commute convenience, including Office Depot, Tenet Healthcare, and AutoNation, with additional regional roles from Johnson & Johnson and Northwestern Mutual offices.
- Office Depot corporate offices (8.4 miles) HQ
- Tenet Healthcare Corporation, Florida Region healthcare administration (9.6 miles)
- AutoNation automotive retail corporate (11.3 miles) HQ
- Johnson & Johnson healthcare & consumer products offices (28.2 miles)
- Siegel Financial Group Northwestern Mutual financial services offices (29.9 miles)
311 NW 42nd Ct offers an attainable-scale multifamily play in Deerfield Beach with a renter base supported by household growth within a 3-mile radius. Based on CRE market data from WDSuite, neighborhood occupancy trends are softer than the metro, but rent levels and forecasts indicate durable renter demand for competitively positioned workforce units.
Built in 1974, the property may benefit from focused capital improvements to address aging systems and unlock value-add potential. Investors should weigh affordability pressure and the area s auto-oriented amenity mix against the depth of nearby employment and expected growth in households, positioning the asset for steady performance with hands-on operations.
- Renter pool expansion within 3 miles supports demand and occupancy stability over time.
- Value-add potential from 1974 vintage via targeted renovations and system upgrades.
- Diversified employment access (Office Depot, Tenet, AutoNation) underpins leasing and retention.
- Pricing power tempered by affordability pressure; emphasize resident experience and lease management.
- Amenity-light, car-oriented area and below-metro safety metrics warrant conservative underwriting and modest security spend.