| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 71st | Fair |
| Demographics | 24th | Poor |
| Amenities | 59th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 21850 SW 103rd Ct, Cutler Bay, FL, 33190, US |
| Region / Metro | Cutler Bay |
| Year of Construction | 1994 |
| Units | 40 |
| Transaction Date | 1993-07-22 |
| Transaction Price | $260,000 |
| Buyer | FL ELDERLY HOUSING INC |
| Seller | CUTLER EXECUTIVE PROP INC |
21850 SW 103rd Ct Cutler Bay Multifamily Investment
Neighborhood occupancy in the mid-90% range and a sizable renter base point to stable leasing fundamentals, according to WDSuite’s CRE market data. Positioning in Miami-Dade’s inner suburbs offers durable workforce demand with room for operational upside.
Located in Cutler Bay within the Miami-Miami Beach-Kendall metro, the neighborhood carries a B- rating and sits around the metro middle in overall performance. Amenity access is mixed: restaurants, cafes, childcare, and groceries are comparatively well represented (restaurants and cafes rank high nationally), while parks and pharmacies are limited nearby. For investors, this mix supports day-to-day convenience for residents while signaling potential value in on-site amenity enhancements.
The share of housing units that are renter-occupied is high at the neighborhood level, indicating a deep tenant pool and consistent demand for multifamily product. Neighborhood occupancy is strong relative to national benchmarks, supporting income stability and lowering downtime risk in typical turnover periods. Property vintage in this submarket trends older, with average construction from the late 1970s, while this asset’s 1994 vintage provides a relative competitive edge versus older stock; investors should still anticipate selective system updates and common-area refreshes to maintain positioning.
Within a 3-mile radius, population and household counts have been growing, with forecasts calling for further population growth and a notable increase in household counts over the next five years. Household sizes are trending smaller within this radius, which can expand the renter pool and support absorption of a variety of unit types. These dynamics generally underpin occupancy stability and steady leasing velocity for well-managed assets.
Ownership costs in the neighborhood are elevated relative to local incomes by national comparison, and median home values have risen meaningfully over the past five years. This high-cost ownership backdrop tends to sustain reliance on rental housing, aiding tenant retention and pricing power, while rent-to-income ratios suggest some affordability pressure that calls for disciplined lease management and measured renewal strategies.
Safety trends in the immediate neighborhood trail national averages, with the area positioned in the lower half among 449 Miami metro neighborhoods. However, recent data shows year-over-year declines in both violent and property offense rates, indicating an improving trajectory rather than a static condition. For investors, this suggests monitoring is warranted, but the directionality has been favorable in the latest readings.
As with any urban-suburban location in a large metro, risk varies by micro-area and management practices. Operators can mitigate exposure through lighting, access controls, and resident engagement while tracking neighborhood-level trends as part of ongoing asset management.
Nearby corporate employers provide a diverse employment base that supports renter demand and retention, led by homebuilding, energy services, logistics, and healthcare-related offices noted below.
- Lennar — homebuilding (14.6 miles) — HQ
- World Fuel Services — energy services (16.9 miles) — HQ
- Ryder System — logistics & fleet management (21.0 miles) — HQ
- Mosaic — chemicals & materials (22.5 miles)
- Johnson & Johnson — healthcare products (23.7 miles)
This 40-unit asset, built in 1994, is newer than much of the surrounding stock and can compete effectively against older properties while benefiting from targeted modernization. Neighborhood-level occupancy sits in the mid-90% range and renter concentration is high, supporting durable leasing and limited downtime. Based on commercial real estate analysis from WDSuite, the submarket’s elevated ownership costs and steady household growth within a 3-mile radius reinforce depth of demand for well-managed rentals.
Forward-looking population and household growth in the surrounding area points to a larger tenant base and supports occupancy stability. Investors should balance this with prudent lease management given rent-to-income pressures and continue monitoring neighborhood safety trends, which have been improving but remain below national averages.
- 1994 construction offers relative competitiveness versus older neighborhood stock, with selective capex and common-area updates enhancing positioning.
- Strong neighborhood occupancy and high renter-occupied share support leasing stability and income consistency.
- Household and population growth within 3 miles expands the renter pool, aiding absorption and renewal performance.
- Elevated ownership costs locally tend to sustain rental demand and support pricing power for well-run assets.
- Risks: affordability pressure (rent-to-income), limited nearby parks/pharmacies, and safety that trails national benchmarks despite recent improvement.