| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 75th | Good |
| Demographics | 32nd | Fair |
| Amenities | 97th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 8202 NW 98th St, Hialeah Gardens, FL, 33016, US |
| Region / Metro | Hialeah Gardens |
| Year of Construction | 2008 |
| Units | 26 |
| Transaction Date | 2022-04-29 |
| Transaction Price | $3,791,700 |
| Buyer | VALDES PABLO J |
| Seller | GRAND AT DORAL TWO LTD |
8202 NW 98th St: 26-Unit 2008 Multifamily
Neighborhood occupancy is strong and renter-occupied housing is prevalent, pointing to a deep tenant base for stabilized operations, according to WDSuite’s CRE market data. These metrics are measured for the surrounding neighborhood, not the property.
Located in Hialeah Gardens within the Miami–Miami Beach–Kendall metro, the property sits in an Urban Core neighborhood rated A and ranked 61 out of 449 metro neighborhoods. That places it competitive among Miami neighborhoods, with retail and daily-needs access that supports renter retention and leasing velocity.
Amenity density is a clear strength: groceries and restaurants rank near the top locally and sit in the top percentiles nationally, with abundant parks, pharmacies, and cafes close by. This breadth of services helps underpin day-to-day convenience and reinforces the area’s appeal to renters seeking proximity to essentials and dining.
At the neighborhood level, occupancy is high and above the metro median (97.8% and a rank of 99 out of 449), while the share of renter-occupied units is also elevated. For investors, this combination indicates a sizable tenant pool and support for occupancy stability. Median contract rents in the neighborhood have risen over the past five years, and forward-looking projections in the 3-mile area point to additional rent growth, which can sustain revenue potential when balanced with affordability considerations.
Within a 3-mile radius, households have grown and are projected to expand further even as population edges slightly lower, implying smaller average household sizes and a broader household base. This pattern typically increases the number of prospective renters and supports ongoing demand for multifamily units. The property’s 2008 construction is newer than the neighborhood’s average 1984 vintage, offering relative competitiveness versus older stock while still warranting prudent planning for system updates or selective modernization as part of a value-protection strategy.
Home values in the neighborhood are elevated relative to local incomes, a dynamic that generally sustains reliance on rental housing and can support pricing power when managed carefully. Rent-to-income levels suggest some affordability pressure, so operators may prioritize retention strategies and measured renewals to maintain occupancy and reduce turnover risk.
Safety indicators for the surrounding neighborhood are around the national middle based on WDSuite’s data, with rankings that place it near the metro’s broad mid-range rather than at either extreme. Recent trends are mixed: violent offense estimates show year-over-year improvement, while property offense estimates increased. These are neighborhood-level signals and may not reflect conditions at a specific block or property.
Investors typically consider these patterns in the context of operations, emphasizing lighting, access control, and resident engagement to support leasing and retention while monitoring local trend lines over time.
The location draws from a diverse employment base nearby, with several corporate offices and headquarters that support renter demand through commute convenience and workforce stability. Notable employers include Ryder System, Johnson & Johnson, World Fuel Services, Lennar, and Mosaic.
- Ryder System — corporate offices (3.4 miles) — HQ
- Johnson & Johnson — corporate offices (3.6 miles)
- World Fuel Services — corporate offices (3.8 miles) — HQ
- Lennar — corporate offices (6.4 miles) — HQ
- Mosaic — corporate offices (13.5 miles)
This 26-unit asset, built in 2008, benefits from a neighborhood with high occupancy and a large share of renter-occupied housing units, supporting depth of demand and lease-up durability. The vintage provides a competitive edge versus older nearby stock, while prudent capital planning for mid-life systems can help preserve operating performance. According to commercial real estate analysis from WDSuite, neighborhood rents have trended upward, and within a 3-mile radius, a rising household count is expected to expand the renter pool even as average household size declines—factors that generally support occupancy stability.
Ownership costs in the area are relatively high compared with incomes, reinforcing reliance on rental housing and aiding pricing power when balanced with retention-focused lease management. Operators should stay attentive to rent-to-income pressures and mixed safety trends, calibrating renewals and community standards to sustain cash flow and minimize turnover.
- High neighborhood occupancy and elevated renter-occupied share support durable leasing
- 2008 construction offers competitive positioning versus older local stock
- 3-mile area shows growing household base, expanding the potential renter pool
- Elevated ownership costs relative to income can reinforce rental demand
- Risk: affordability pressures and mixed safety trends warrant careful lease and operations management