| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 52nd | Poor |
| Demographics | 37th | Poor |
| Amenities | 52nd | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 448 Lock Rd, Deerfield Beach, FL, 33442, US |
| Region / Metro | Deerfield Beach |
| Year of Construction | 1986 |
| Units | 60 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
448 Lock Rd, Deerfield Beach FL Multifamily Investment
Neighborhood renter concentration and steady occupancy trends point to durable leasing fundamentals; according to WDSuite’s CRE market data, occupancy in the surrounding neighborhood has improved over the past five years, supporting income stability for well-managed assets.
Located in an Inner Suburb of the Fort Lauderdale-Pompano Beach-Sunrise metro, the immediate neighborhood carries a C rating and sits in the lower tier of metro peers (ranked 274 out of 345 neighborhoods). Amenity access is mixed: parks and pharmacies index in the top half nationally (both around the low 80s percentiles), while cafes and grocery options are comparatively limited. For residents, this translates to practical daily needs nearby, but fewer discretionary amenities within close range.
Renter demand appears resilient. The neighborhood’s share of renter-occupied housing units is elevated at 51.1%, indicating a broad tenant base that can support multifamily absorption and retention. Neighborhood occupancy stands near the high 80s and has improved over the last five years, a constructive backdrop for stabilized operations when paired with disciplined leasing and renewals.
Within a 3-mile radius, demographics show a growing base of potential renters. Population increased by about 7% over the last five years, households grew roughly 11%, and forecasts call for continued expansion by 2028, with further population gains and a notable increase in households. This growth points to a larger tenant pool and supports occupancy stability for well-located multifamily.
On pricing, neighborhood-level rent measures have risen over the past five years, and home values have also appreciated materially. Combined with a rent-to-income ratio around 0.30 at the neighborhood level, investors should plan for thoughtful lease management to balance rent growth with retention in a high-cost-ownership context that can reinforce reliance on rental housing.
Vintage and asset positioning: Built in 1986, the property is slightly newer than the neighborhood’s average construction year of 1982. That positioning can offer competitive appeal versus older inventory, though investors should plan for targeted system updates and modernization to maintain leasing velocity.
Safety indicators are mixed. Compared with neighborhoods nationwide, the area sits below the national median for safety (around the late 30s percentile). Within the Fort Lauderdale-Pompano Beach-Sunrise metro, the neighborhood ranks in the less favorable half for crime (ranked 199 out of 345 neighborhoods), so investors should underwrite security, lighting, and resident engagement accordingly.
Trend-wise, property offense estimates improved meaningfully year over year, landing in the top quartile nationally for improvement, while violent offense estimates increased over the same period. For underwriting, this combination suggests monitoring recent trend lines and coordinating with management on prevention measures while not assuming linear improvement.
Proximity to diversified employers supports renter demand and commute convenience, with nearby roles spanning retail headquarters, healthcare administration, corporate auto retail, financial services, and food distribution.
- Office Depot — retail HQ (5.6 miles) — HQ
- Tenet Healthcare Corporation, Florida Region — healthcare administration (9.7 miles)
- AutoNation — automotive retail corporate (14.0 miles) — HQ
- Siegel Financial Group - Northwestern Mutual — financial services (27.1 miles)
- Sysco Southeast Florida — food distribution (30.7 miles)
This 60-unit 1986 vintage property in Deerfield Beach offers exposure to an Inner Suburb with steady renter demand and improving neighborhood occupancy. The asset’s slightly newer vintage versus local stock can be competitive against older inventory, with targeted updates supporting leasing performance. According to CRE market data from WDSuite, neighborhood occupancy has trended up over the last five years, and renter-occupied share is elevated, underscoring depth in the tenant base.
Within a 3-mile radius, population and household growth have been positive and are projected to continue, which supports a larger renter pool over time. Amenity access is practical but not dense, and ownership costs in the area remain elevated enough to sustain reliance on rental housing. Investors should balance rent growth objectives with retention, given neighborhood-level rent-to-income readings and mixed safety indicators.
- Elevated renter-occupied share supports demand depth and retention potential.
- 1986 vintage slightly newer than local average, with value-add via targeted modernization.
- 3-mile population and household growth expands the tenant base and supports occupancy stability.
- Practical amenity access; parks/pharmacies strong relative to national peers, though cafes/grocers are thinner nearby.
- Risks: mixed safety metrics and neighborhood rent-to-income pressure call for disciplined lease and security strategies.