| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 55th | Poor |
| Demographics | 85th | Best |
| Amenities | 57th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2141 NE 42nd St, Lighthouse Point, FL, 33064, US |
| Region / Metro | Lighthouse Point |
| Year of Construction | 1977 |
| Units | 28 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
2141 NE 42nd St Lighthouse Point Multifamily Investment
Elevated home values in the neighborhood support durable rental demand, with a growing household base within 3 miles, according to WDSuite’s CRE market data.
Lighthouse Point sits in an inner-suburb location with convenience-oriented amenities. The neighborhood rates above the metro median overall (ranked 76 out of 345 Fort Lauderdale-Pompano Beach-Sunrise neighborhoods), and grocery, park, and dining access trend in the top quartile nationally while cafes and pharmacies are more limited. For investors, this mix supports day-to-day livability without relying on destination traffic.
Within a 3-mile radius, population has expanded recently and households have increased, with projections indicating additional household growth ahead. A 40.3% renter-occupied share in the same 3-mile area points to a sizable tenant base, and smaller average household size over time can translate to steady demand for apartment units rather than larger owner-occupied homes.
Neighborhood rent levels sit around the upper-mid range nationally, and rent growth has been positive over the past five years. A moderate rent-to-income profile suggests room for disciplined revenue management while maintaining retention. Median home values are elevated locally and the value-to-income ratio is high compared with national norms, which tends to reinforce reliance on multifamily housing and can underpin leasing stability.
The property’s 1977 vintage is newer than the neighborhood’s average construction year of 1968. That positioning can be competitively favorable versus older stock, though investors should plan for ongoing system upgrades and selective modernization to meet current renter expectations.
Safety indicators are mixed relative to peers. The neighborhood’s overall crime rank sits in the lower half of the metro (221 out of 345), placing it below the metro median. Nationally, property offense levels land around the mid-range, while violent offense measures are somewhat weaker than the national middle. Recent year-over-year figures show increases in both categories, suggesting vigilance with onsite security practices, lighting, and access control remains warranted.
Investors should evaluate block-level patterns during due diligence and consider how professional management, screening, and physical improvements can support resident experience and retention over time.
Nearby corporate employers provide a diversified employment base that supports renter demand and commute convenience, led by retail headquarters, healthcare administration, and auto retail corporate offices.
- Office Depot — retail HQ (8.5 miles) — HQ
- Tenet Healthcare Corporation, Florida Region — healthcare administration (11.6 miles)
- AutoNation — auto retail corporate offices (11.7 miles) — HQ
- Johnson & Johnson — healthcare & consumer products offices (29.0 miles)
- Siegel Financial Group - Northwestern Mutual — financial services offices (29.7 miles)
This 28-unit asset benefits from a high-cost ownership backdrop and a growing 3-mile household base that expands the local renter pool. Neighborhood rent levels are in the upper-mid range nationally and have risen over five years, supporting potential for disciplined revenue management. The 1977 construction is newer than the neighborhood average, offering a relative edge versus older stock while still presenting opportunities for targeted modernization to enhance competitiveness.
Household and income gains within 3 miles, coupled with strong day-to-day amenities (groceries, parks, restaurants), support leasing fundamentals, according to CRE market data from WDSuite. Key underwriting considerations include the neighborhood’s below-median metro safety rank and occupancy levels that have improved but remain comparatively soft, making operational execution and tenant retention strategies important.
- High-cost ownership market supports sustained renter demand and retention
- 3-mile household growth and rising incomes expand the tenant base
- 1977 vintage newer than neighborhood average; targeted upgrades can drive competitiveness
- Amenity access (groceries, parks, restaurants) supports livability and leasing
- Risks: below-median metro safety rank and softer neighborhood occupancy require strong management