| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 73rd | Good |
| Demographics | 31st | Fair |
| Amenities | 63rd | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2300 W 56th St, Hialeah, FL, 33016, US |
| Region / Metro | Hialeah |
| Year of Construction | 1990 |
| Units | 20 |
| Transaction Date | --- |
| Transaction Price | $830,000 |
| Buyer | CARDET ENTERPRISES INC |
| Seller | SUMA INVESTMENT INC |
2300 W 56th St, Hialeah FL Multifamily Investment
Neighborhood-level fundamentals point to steady renter demand and high occupancy, according to WDSuite’s CRE market data, with ownership costs that tend to support reliance on rentals in this part of Miami-Dade.
This Urban Core neighborhood scores a B and ranks 198 out of 449 Miami metro neighborhoods, placing it above the metro median for overall performance. Neighborhood metrics — not the property — point to a 96.1% occupancy environment, a level that has edged up over the past five years and supports stable leasing conditions, based on CRE market data from WDSuite.
Renter-occupied housing represents a meaningful share of the local unit base (58.9%), signaling depth in the tenant pool and demand resiliency for multifamily operators. Median contract rents in the neighborhood have risen over the last five years, while value-to-income metrics place the area in a high-cost ownership context relative to incomes, which generally sustains rental demand and can aid pricing power and retention strategies.
Livability is supported by strong food-and-beverage and daily-needs access: restaurants and cafes are competitive nationally (96th and 94th percentiles), and pharmacies are also strong (94th percentile). Immediate access to parks and grocery options is limited within the neighborhood footprint, so residents typically rely on nearby corridors for those needs — a consideration for marketing and amenity positioning.
The property’s 1990 vintage is slightly newer than the neighborhood’s average construction year (1983). That positioning can enhance competitiveness versus older stock while still warranting selective modernization and systems updates to capture value-add upside and support rent growth.
Within a 3-mile radius, population has modestly contracted in recent years while total households increased and are projected to expand further as average household size trends lower. This shift implies a larger number of smaller households entering the renter pool, which can support occupancy stability and broaden the demand base for a 20-unit asset with practical average unit sizes.
Safety indicators sit around the middle of the Miami metro: the neighborhood’s crime rank is near the metro median (215 out of 449). Compared with neighborhoods nationwide, overall safety trends land below the national midpoint (43rd percentile), so investors should underwrite with prudent security and tenant-experience measures.
Recent movement is mixed: estimates indicate property offenses have trended down year over year, while violent offenses have increased over the same period. Taken together, the pattern supports a cautious but manageable operating stance — prioritize lighting, access control, and resident engagement, and benchmark policies against competitive Miami submarkets.
Nearby corporate offices provide a diversified employment base and convenient commutes that can support renter retention and steady leasing. Notable employers within close range include Johnson & Johnson, Ryder System, World Fuel Services, Lennar, and Mosaic.
- Johnson & Johnson — corporate offices (2.9 miles)
- Ryder System — corporate offices (3.5 miles) — HQ
- World Fuel Services — corporate offices (4.6 miles) — HQ
- Lennar — corporate offices (7.2 miles) — HQ
- Mosaic — corporate offices (13.6 miles)
The investment case centers on durable renter demand and occupancy stability in an Urban Core neighborhood that ranks above the metro median. The area’s renter concentration and elevated ownership cost context support depth of the tenant base, while dining and pharmacy access bolster day-to-day convenience. According to commercial real estate analysis from WDSuite, neighborhood occupancy is strong and has trended upward, reinforcing steady operations for stabilized assets.
Built in 1990, the property is slightly newer than the local average stock, offering relative competitiveness with potential for targeted modernization to capture value-add gains. Within a 3-mile radius, smaller household sizes are driving an increase in total households now and in the forecast horizon, which points to renter pool expansion even as population growth is muted — a supportive backdrop for leasing and renewal performance.
- Above-median neighborhood standing in the Miami metro with historically strong occupancy supporting stable operations.
- Renter-occupied unit share signals a deep tenant base and supports pricing power and retention.
- 1990 vintage offers competitive positioning versus older stock, with selective upgrades for value-add potential.
- Household growth within 3 miles, driven by smaller household sizes, expands the renter pool and supports lease-up resilience.
- Risks: renter affordability pressure in parts of the neighborhood and limited on-foot access to parks/grocers warrant conservative underwriting and amenity strategy.