| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 42nd | Poor |
| Demographics | 23rd | Poor |
| Amenities | 28th | Poor |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 601 NW 42nd Ct, Deerfield Beach, FL, 33064, US |
| Region / Metro | Deerfield Beach |
| Year of Construction | 1973 |
| Units | 26 |
| Transaction Date | 2016-12-01 |
| Transaction Price | $2,200,000 |
| Buyer | BH STR LLC |
| Seller | YOSS PRASHKOVSKY LLC |
601 NW 42nd Ct Deerfield Beach Multifamily Investment
Household growth within a 3-mile radius and a sizable renter base point to steady tenant demand and pragmatic lease-up prospects, according to WDSuite’s CRE market data. Investors should underwrite for operational discipline while leveraging local demand drivers to support occupancy over the hold.
This inner suburb of the Fort Lauderdale–Pompano Beach–Sunrise metro offers working‑household demand and commuter connectivity across Broward County. The neighborhood’s amenity mix is limited overall (nationally below average), but convenient services such as pharmacies and childcare test stronger than many peers, which can aid everyday livability for renters.
Property vintage in the area skews to the mid‑1970s; this asset was built in 1973, making it slightly older than the neighborhood average (1976). That positioning typically calls for targeted capital planning and creates potential value‑add upside through unit renovations, common‑area refreshes, and system upgrades to remain competitive against newer stock.
Rents in the neighborhood benchmark higher than many U.S. areas, while incomes are comparatively modest. For investors, this means pricing power should be balanced with retention strategy, as rent‑to‑income levels signal affordability pressure in parts of the renter pool. At the same time, ownership costs locally are more accessible than in many South Florida cores, which may add some competitive tension with entry‑level ownership and should be reflected in renewal assumptions.
Within a 3‑mile radius, population and households have expanded in recent years and are projected to continue growing, supporting a larger tenant base and leasing durability. The renter‑occupied share near 41% indicates meaningful depth for multifamily demand, while the owner share supports move‑down and lifestyle rental dynamics. These trends, based on commercial real estate analysis from WDSuite, suggest demand that can support occupancy stability when paired with practical unit finishes and market‑appropriate rents.
Neighborhood safety indicators compare weaker than the national average, with violent and property offenses testing below mid‑pack nationally. Recent data show property crime edging down year over year, while violent offenses have been mixed. For underwriting, assume prudent security measures and tenant‑facing protocols, and compare historical trendlines against submarket peers in the Fort Lauderdale–Pompano Beach–Sunrise metro.
Nearby employers span retail headquarters, healthcare administration, automotive retail headquarters, diversified healthcare and life sciences, and logistics corporate offices. This mix supports workforce housing demand and commute convenience that can aid leasing and retention.
- Office Depot — retail headquarters (8.4 miles) — HQ
- Tenet Healthcare Corporation, Florida Region — healthcare administration (9.4 miles)
- AutoNation — automotive retail headquarters (11.3 miles) — HQ
- Johnson & Johnson — life sciences offices (28.1 miles)
- Ryder System — logistics & transportation headquarters (32.6 miles) — HQ
601 NW 42nd Ct is a 26‑unit, mid‑1970s vintage asset positioned for value‑add execution in an inner‑suburban Deerfield Beach location. Within a 3‑mile radius, recent and projected growth in households supports a larger tenant base, while a renter concentration near the low‑40% range indicates depth for stabilized operations. According to CRE market data from WDSuite, neighborhood occupancy runs softer than stronger South Florida enclaves, so disciplined leasing and pragmatic rent setting should anchor the plan.
Built in 1973, the property is slightly older than the neighborhood average, suggesting targeted capex and renovation can improve competitive standing versus newer assets. Investors should account for affordability pressure in parts of the renter pool, balancing rent growth with renewal strategy; simultaneously, relatively accessible ownership costs in this area may temper pricing power but can be offset by unit upgrades and service quality.
- Household and population growth within 3 miles expands the tenant base and supports occupancy
- Mid‑1970s vintage (1973) offers clear value‑add levers via unit and system upgrades
- Diverse nearby employers underpin workforce housing demand and retention
- Underwrite thoughtful renewal management given affordability pressure and competitive ownership options
- Soft neighborhood occupancy versus stronger submarkets requires conservative lease‑up and expense control