| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 79th | Best |
| Demographics | 32nd | Fair |
| Amenities | 80th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 149 E 3rd St, Hialeah, FL, 33010, US |
| Region / Metro | Hialeah |
| Year of Construction | 1996 |
| Units | 68 |
| Transaction Date | 1994-06-15 |
| Transaction Price | $575,000 |
| Buyer | S WIND APTS LTD |
| Seller | SWEZY RUBY S |
149 E 3rd St, Hialeah FL Multifamily Investment
Neighborhood-level occupancy remains tight and daily-needs amenities are strong, according to WDSuite’s CRE market data, supporting durable renter demand around this address. Metrics cited reflect the surrounding neighborhood, not the property, and point to stability with room for selective value-add.
The property sits in an Urban Core pocket of Hialeah that rates in the top quartile among 449 metro neighborhoods, per WDSuite. Neighborhood occupancy is high at 97.7%, indicating steady leasing fundamentals and supporting retention for professionally managed multifamily.
Daily convenience is a strength: grocery, pharmacy, parks, and cafes index at or near the top of national percentiles, translating to walkable access to essentials and service employment nodes. School quality trends lower on average, which may moderate family-driven demand but typically aligns with workforce-oriented renter profiles.
Within a 3-mile radius, demographics show households increasing while overall population has edged down, implying smaller household sizes and a broader household base for leasing. An estimated 56.7% of housing units are renter-occupied in this 3-mile view, suggesting a deep tenant pool that can support occupancy stability and lease-up velocity for comparable product.
Home values are elevated relative to local incomes, and rent-to-income measures indicate affordability pressure in the area. For investors, this mix often sustains reliance on rental housing and can underpin pricing power, but it also warrants careful lease management and renewal strategies to mitigate churn.
Safety indicators present a mixed but improving picture. The neighborhood trends above the national median for safety based on WDSuite’s comparative indices, while sitting below the metro average relative to peer neighborhoods in Miami-Miami Beach-Kendall. Importantly, both property and violent offense rates have declined over the past year, which is a constructive directional signal rather than a guarantee.
Investors should frame safety as one factor among many, monitoring ongoing trend improvements alongside leasing performance, workforce demand, and management practices.
The area’s employment base includes nearby corporate offices that help support workforce housing demand and commute convenience: World Fuel Services, Johnson & Johnson, Lennar, Ryder System, and Mosaic are within a roughly 5–10 mile radius.
- World Fuel Services — energy services (4.9 miles) — HQ
- Johnson & Johnson — pharmaceuticals (5.6 miles)
- Lennar — homebuilding (6.6 miles) — HQ
- Ryder System — logistics & transportation (7.3 miles) — HQ
- Mosaic — fertilizer & chemicals (9.7 miles)
149 E 3rd St offers exposure to a tight-occupancy Hialeah location where neighborhood-level occupancy sits at 97.7% and daily-needs amenities rank strongly, underpinning renter demand and lease retention. Built in 1996, the asset is newer than the average nearby vintage, supporting competitive positioning versus older stock while still allowing for targeted modernization of systems and interiors.
Within a 3-mile radius, household counts are up and renter concentration is substantial, pointing to a broad tenant base that can support stabilization strategies. Elevated ownership costs relative to income tend to sustain reliance on multifamily rentals; however, rent-to-income levels indicate affordability pressure, making revenue optimization and renewal stewardship important. These themes are consistent with commercial real estate analysis from WDSuite that highlights strong neighborhood fundamentals with selective risks to underwrite.
- Tight neighborhood occupancy supports leasing stability and retention
- 1996 vintage offers relative competitiveness and value-add modernization potential
- Strong daily-needs amenity access reinforces renter appeal and renewal prospects
- Broad renter base within 3 miles supports demand depth and lease-up
- Risk: affordability pressure and below-metro-average safety require careful underwriting and renewal strategy