| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 85th | Best |
| Demographics | 33rd | Fair |
| Amenities | 46th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 10401 W Okeechobee Rd, Hialeah, FL, 33018, US |
| Region / Metro | Hialeah |
| Year of Construction | 2008 |
| Units | 92 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
10401 W Okeechobee Rd Hialeah Multifamily Opportunity
Neighborhood occupancy is consistently high and above most U.S. areas, supporting income stability according to WDSuite’s CRE market data. This Hialeah location offers durable renter demand relative to the Miami metro, with fundamentals that favor leasing resilience.
Set within Miami-Dade’s Urban Core, the neighborhood ranks 208 out of 449 metro neighborhoods (B rating), indicating performance around the metro middle with several investor-friendly strengths. Housing fundamentals track well: neighborhood occupancy is 99.9% (36 of 449; top quartile nationally), which supports steady lease-up and retention, per commercial real estate analysis from WDSuite.
Local convenience is mixed but functional. Grocery and restaurant density sit high versus national peers (both around the upper percentiles nationally), and parks are notably abundant (36 of 449; top national tier), adding day-to-day livability. By contrast, cafés, childcare, and pharmacies are sparse in the immediate area, which may modestly diffuse lifestyle appeal but does not appear to impair leasing given the neighborhood’s strong occupancy.
Tenure patterns signal a meaningful renter base. Within the neighborhood, an estimated 33.5% of housing units are renter-occupied, indicating a defined pool of multifamily demand. At the 3-mile radius, renter concentration is roughly on par with ownership and is projected to edge slightly higher by 2028, reinforcing depth of demand for apartment product.
Demographic statistics aggregated within a 3-mile radius show households increased over the last five years and are projected to grow further through 2028 even as average household size trends lower. This combination effectively expands the renter pool and supports occupancy stability and leasing velocity despite relatively flat population expectations, offering a favorable backdrop for a 92‑unit asset.
Ownership costs are elevated relative to incomes locally (nationally high value-to-income measures), and neighborhood median contract rents also sit above many U.S. areas. For investors, this tends to sustain reliance on rental housing and can support pricing power, though it warrants attentive lease management to mitigate affordability pressure and turnover risk.
Safety indicators present a mixed but manageable profile. The neighborhood’s overall crime rank sits below the metro median (320 of 449 Miami-area neighborhoods), suggesting comparatively higher crime than many local peers. Nationally, the area tracks near the middle for violent incidents (around the 52nd percentile), while property-related incidents align with safer national comparisons (about the 80th percentile). Recent year-over-year changes indicate some volatility, so ongoing monitoring is prudent. These figures reflect neighborhood-level trends, not property-specific incidents.
The location benefits from proximity to several corporate employers that underpin a diversified commuter base and support renter demand, including Ryder System, Johnson & Johnson, World Fuel Services, Lennar, and Mosaic.
- Ryder System — logistics & transportation (2.8 miles) — HQ
- Johnson & Johnson — healthcare & consumer products offices (3.6 miles)
- World Fuel Services — energy & fuel services (4.1 miles) — HQ
- Lennar — homebuilding corporate offices (6.7 miles) — HQ
- Mosaic — chemicals & fertilizers offices (14.1 miles)
For a 92‑unit asset built in 2008, the submarket’s leasing backdrop is a key strength: neighborhood occupancy is among the highest nationally, which supports income durability and reduces lease-up risk. Elevated home values relative to incomes in the area tend to reinforce reliance on multifamily housing, aiding demand and potential pricing power. Based on CRE market data from WDSuite, household growth within a 3‑mile radius and a trend toward smaller household sizes point to a broader tenant base over the next several years, even as population growth remains modest.
Vintage 2008 positioning can be competitive versus older Miami-Dade stock, with scope for targeted modernization (common areas, unit finishes, and building systems as needed) to enhance renter appeal and maintain rent integrity. Local amenity access is solid for daily needs (notably groceries, restaurants, and parks), and proximity to multiple corporate employers supports weekday occupancy and retention. Balanced underwriting should still account for localized safety volatility and affordability pressure in rent-to-income ratios.
- High neighborhood occupancy supports leasing stability and income durability
- Household growth and smaller household sizes expand the renter pool within 3 miles
- 2008 vintage offers competitive positioning with selective value-add potential
- Elevated ownership costs bolster renter reliance and potential pricing power
- Risks: localized safety trend volatility and affordability pressure warrant active management