| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 77th | Best |
| Demographics | 31st | Fair |
| Amenities | 75th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1550 W 44th Pl, Hialeah, FL, 33012, US |
| Region / Metro | Hialeah |
| Year of Construction | 1981 |
| Units | 35 |
| Transaction Date | 2006-11-03 |
| Transaction Price | $5,068,300 |
| Buyer | RUSS ALLEN PRESERVATION LLC |
| Seller | TC RUSS ALLEN LLC |
1550 W 44th Pl Hialeah Multifamily Opportunity
Neighborhood occupancy is 98.3% and renter-occupied housing is 52% of units, indicating a durable tenant base at the neighborhood level, according to WDSuite’s CRE market data. This location balances strong renter demand with proximity to daily amenities, supporting leasing stability for a 35-unit asset.
The property sits in Hialeah’s Urban Core within the Miami-Miami Beach-Kendall metro, where neighborhood occupancy ranks 72 out of 449 neighborhoods—competitive among Miami-Miami Beach-Kendall neighborhoods. Restaurants, groceries, parks, and cafes score above national averages by density, reinforcing day-to-day convenience that can aid retention and reduce turnover friction for multifamily operators. School ratings average 3.0 out of 5 in the surrounding area, which is serviceable for a workforce renter profile.
Within a 3-mile radius, households increased by 7.1% over the last five years even as total population contracted by 5.6%, pointing to smaller household sizes and continued household formation that supports a larger tenant base. Looking ahead, WDSuite data indicate households are projected to rise a further 29.7% over the next five years while average household size trends lower, which can sustain demand for rental units and support occupancy stability.
Home values sit in a higher-cost ownership context relative to local incomes (value-to-income ratio in the high national percentile), which generally sustains reliance on multifamily rentals and can support pricing power when lease management is disciplined. At the same time, rent-to-income ratios are elevated in the neighborhood, warranting close attention to affordability pressure and renewal strategies to protect retention.
Vintage also matters: built in 1981, the asset is slightly newer than the area’s average construction year (1979). That positioning can be competitive versus older stock, while still leaving room for targeted modernization or systems upgrades to unlock value-add upside and support long-term operating efficiency.
Safety indicators are mixed. The neighborhood’s crime rank is 332 out of 449 within the Miami-Miami Beach-Kendall metro, which is below the metro median, and national percentiles place the area below average on safety compared with neighborhoods nationwide. Recent-year trends show increases in both property and violent offenses, underscoring the need for standard multifamily security practices and resident communication. Operators typically address this through lighting, access control, and coordination with local resources.
The immediate area draws from a diversified employment base including pharmaceuticals, energy distribution, logistics, and homebuilding corporate offices, supporting renter demand through short commute times and broad industry exposure.
- Johnson & Johnson — pharmaceuticals (3.05 miles)
- World Fuel Services — energy distribution (4.37 miles) — HQ
- Ryder System — logistics (4.50 miles) — HQ
- Lennar — homebuilding (6.88 miles) — HQ
- Mosaic — chemicals (12.39 miles)
This Hialeah asset offers exposure to a renter-oriented neighborhood with near-full neighborhood occupancy and daily-need amenities that support retention. Built in 1981, the property sits slightly newer than the local average vintage, creating room for targeted renovations to enhance competitiveness against older stock. Elevated ownership costs relative to incomes tend to sustain rental demand, while the 3-mile radius shows household growth alongside smaller household sizes—factors that can support occupancy stability. According to CRE market data from WDSuite, the neighborhood’s renter concentration and amenity depth align with durable multifamily demand, though affordability pressure warrants disciplined lease management.
Key considerations include maintaining value through selective upgrades, monitoring rent-to-income ratios to balance pricing with retention, and applying standard safety measures given area crime metrics. Proximity to diversified employers across pharmaceuticals, energy, logistics, and homebuilding further supports demand depth.
- Neighborhood occupancy is strong with a deep renter base, supporting leasing stability.
- 1981 vintage offers value-add potential via targeted unit and systems modernization.
- Higher ownership costs versus incomes reinforce reliance on rentals, aiding pricing power when managed carefully.
- Household growth within 3 miles and smaller household sizes expand the renter pool and support occupancy.
- Risks: elevated rent-to-income ratios and below-median metro safety require proactive lease and property operations.