| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 72nd | Good |
| Demographics | 33rd | Fair |
| Amenities | 76th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 19600 SW 110th Ct, Cutler Bay, FL, 33157, US |
| Region / Metro | Cutler Bay |
| Year of Construction | 1981 |
| Units | 28 |
| Transaction Date | 2004-06-02 |
| Transaction Price | $1,690,000 |
| Buyer | MIRAGE HOLDINGS LLC |
| Seller | PALENZUELA PROPERTIES AT TIMBERCREEK I L |
19600 SW 110th Ct Cutler Bay Multifamily Investment
Renter demand is supported by neighborhood occupancy that trends above national norms, according to WDSuite’s CRE market data, pointing to durable leasing fundamentals. A 1981 vintage suggests value-add potential to enhance competitiveness in an Inner Suburb location.
The property sits in Cutler Bay within the Miami–Miami Beach–Kendall metro area, in a neighborhood rated B+ and competitive among 449 metro neighborhoods. Amenity access is a relative strength: grocery, restaurant, cafe, childcare, and park densities all score in higher national percentiles, supporting daily convenience and renter appeal. School ratings are not available in the data, so investors should underwrite education quality separately.
Neighborhood occupancy is above the national midpoint and has edged higher in recent years, which supports leasing stability. The share of housing units that are renter-occupied is high, indicating a deep tenant base for workforce housing. Home values sit in a higher-cost ownership context versus local incomes (value-to-income measures test high nationally), which tends to sustain reliance on multifamily rentals and can aid retention for appropriately positioned assets.
Within a 3-mile radius, demographics show households have grown even as average household size has trended lower, pointing to more, smaller households and a broader renter pool over time. Forecasts indicate continued increases in households and incomes, which can support rent growth and occupancy durability, while also requiring careful affordability management as contract rents trend upward.
The asset’s 1981 construction is older than the neighborhood’s early-1990s average, implying potential capex for systems and interiors. This positioning can be a lever for value-add upgrades to capture amenity-driven renter demand while competing against newer supply.
Safety indicators for the neighborhood are mid-pack within the Miami–Miami Beach–Kendall metro and below the national midpoint, so investors should underwrite security measures and insurance accordingly. Notably, recent data show year-over-year declines in both property and violent offense rates, suggesting improving momentum even if absolute levels remain a consideration.
Regional employment access is supported by proximity to several Miami corporate offices, helping deepen the renter base and support retention for workforce-oriented units. The employers below represent nearby white-collar demand nodes mentioned in the data.
- Lennar — corporate offices (13.2 miles) — HQ
- World Fuel Services — corporate offices (15.6 miles) — HQ
- Ryder System — corporate offices (19.6 miles) — HQ
- Mosaic — corporate offices (22.0 miles)
- Johnson & Johnson — corporate offices (22.5 miles)
This 28-unit asset built in 1981 offers an older-than-average vintage relative to local stock, creating a straightforward value-add path through systems, unit, and curb-appeal upgrades. According to CRE market data from WDSuite, neighborhood occupancy sits above national averages and has improved, while amenity density is strong across groceries, restaurants, childcare, and parks—factors that tend to support leasing and renewal outcomes.
Within a 3-mile radius, households have increased and are projected to expand further as average household size declines, pointing to a larger tenant base over time. High renter-occupied share at the neighborhood level deepens demand for multifamily units, while a higher-cost ownership environment supports reliance on rentals. Key risks include affordability pressure (rent-to-income ratios test high) and safety metrics that trail national norms, warranting pragmatic rent setting, resident screening, and property-level security planning.
- Occupancy above national averages with improving trend supports cash flow stability
- Strong daily-needs amenity access (groceries, restaurants, childcare, parks) enhances renter appeal
- 1981 vintage enables targeted value-add to compete with newer stock
- 3-mile area shows growing household counts, supporting a broader renter pool
- Risks: elevated rent-to-income ratios and safety measures below national norms require careful leasing and security strategy