| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 60th | Poor |
| Demographics | 38th | Poor |
| Amenities | 81st | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 400 SW 2nd St, Deerfield Beach, FL, 33441, US |
| Region / Metro | Deerfield Beach |
| Year of Construction | 1975 |
| Units | 96 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
400 SW 2nd St, Deerfield Beach FL Multifamily Value-Add
Neighborhood occupancy is steady and renter demand is deep, creating a practical backdrop for renovating this 1975, 96-unit asset, according to WDSuite’s CRE market data. The older vintage suggests clear value-add potential while maintaining leasing stability in Deerfield Beach.
This Inner Suburb location in Deerfield Beach offers everyday convenience and renter appeal. Amenity access sits in the top quartile nationally, with strong density of parks, pharmacies, cafes, and restaurants (national percentiles in the mid‑80s). Within the Fort Lauderdale–Pompano Beach–Sunrise metro, the neighborhood’s amenity profile ranks 24th out of 345 areas, signaling competitive convenience for residents — a positive for retention and leasing.
Multifamily fundamentals are supportive. Neighborhood occupancy is 92.7% with a modest five‑year improvement, and renter-occupied housing concentration is very high — the neighborhood ranks 1st out of 345 for renter share — indicating a large tenant base and consistent leasing velocity for workforce housing. Median neighborhood rents have risen meaningfully over the past five years, reinforcing demand, while remaining below many coastal South Florida submarkets.
The property’s 1975 construction is older than the neighborhood’s average vintage (1985). For investors, that typically points to near- to medium‑term capital planning — building systems, interiors, and curb appeal — with corresponding value‑add or repositioning upside relative to newer stock. This profile can compete effectively when paired with functional unit sizes (average ~823 sq. ft.) and access to daily‑needs amenities.
Within a 3‑mile radius, the population and household counts have grown in recent years, and forecasts call for continued increases through 2028. Expanding households and rising incomes in the area broaden the renter pool and support occupancy stability. At the same time, elevated rent-to-income ratios in the immediate neighborhood indicate some affordability pressure, so disciplined lease management and targeted upgrades that justify rents are important. Median home values nearby remain more accessible than many South Florida enclaves, which can create selective competition from ownership; however, this also helps sustain demand for well‑located rentals offering convenience and predictable monthly housing costs.
Safety metrics for the neighborhood are mixed relative to metro and national benchmarks. Compared with neighborhoods nationwide, overall safety sits below the national median (around the 32nd percentile). Within the Fort Lauderdale–Pompano Beach–Sunrise metro, the area ranks in the lower half for safety (252nd out of 345), suggesting investors should underwrite to prudent security, lighting, and access controls.
Recent trends show property offenses declining year over year, while reported violent offense rates increased over the same period. These directional shifts reinforce the value of on‑site risk management and resident‑experience measures that can support retention and leasing.
Proximity to major employers supports a stable renter base and commute convenience, notably in retail headquarters, healthcare administration, and auto retail corporate offices.
- Office Depot — retail headquarters (6.1 miles) — HQ
- Tenet Healthcare Corporation, Florida Region — healthcare administration (10.6 miles)
- AutoNation — auto retail corporate (13.6 miles) — HQ
- Siegel Financial Group - Northwestern Mutual — financial services offices (27.5 miles)
- Johnson & Johnson — healthcare & consumer products offices (30.7 miles)
400 SW 2nd St offers a practical value‑add path in a renter‑heavy neighborhood with stable occupancy and everyday amenities. The 1975 vintage provides scope for targeted renovations to improve unit quality and common areas while remaining competitive against newer, higher‑rent product. According to CRE market data from WDSuite, neighborhood occupancy is holding in the low‑90% range with a five‑year uptick, and renter-occupied concentration is among the highest in the metro — both supportive of demand depth and leasing continuity.
Within a 3‑mile radius, recent and projected increases in population and households point to an expanding tenant base through 2028, while rising incomes support upgraded unit offerings. Balanced against this, elevated rent-to-income ratios in the immediate neighborhood call for careful pricing and retention strategies, and relatively accessible ownership options can create competition at certain price points. Executing a disciplined renovation plan and solid property operations can position the asset to capture steady demand and maintain occupancy.
- Renter-heavy neighborhood with steady ~93% occupancy supports demand stability
- 1975 vintage enables value‑add through systems, interiors, and curb appeal upgrades
- Amenity-rich area (top quartile nationally) aids retention and leasing
- 3‑mile radius growth and income gains expand the tenant base through 2028
- Risks: local affordability pressure and competition from ownership; underwrite to disciplined pricing and security