| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 73rd | Good |
| Demographics | 21st | Poor |
| Amenities | 71st | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 450 E 30th St, Hialeah, FL, 33013, US |
| Region / Metro | Hialeah |
| Year of Construction | 1984 |
| Units | 20 |
| Transaction Date | 2008-10-16 |
| Transaction Price | $1,535,000 |
| Buyer | EASTLAND MANOR LLC |
| Seller | ALVAREZ ORESTES |
450 E 30th St Hialeah Multifamily Investment
Neighborhood occupancy trends are strong and renter demand is durable for workforce housing in Hialeah, according to CRE market data from WDSuite. Investors should view this asset as a cash‑flow candidate with upside via selective upgrades rather than lease-up risk.
Hialeah’s Urban Core setting provides day-to-day convenience that supports resident retention. The neighborhood ranks 104th among 449 metro neighborhoods for overall amenities, with grocery and pharmacy density performing above the national median, while cafes also score well. Park access is limited, so on-site or nearby private recreation can differentiate the asset. Average school ratings in the area are lower than the national median, suggesting the property may resonate more with adult renters and workforce households than school-driven movers.
Occupancy in the neighborhood is high and well above national norms, indicating stable leasing conditions and reduced downtime risk. The area’s housing stock skews older than the subject’s 1984 vintage (metro neighborhood average year 1968), making the property relatively newer compared with nearby inventory—supporting competitive positioning if common areas and systems are kept current.
Tenure patterns point to a deep renter base: roughly half of housing units are renter-occupied, a share that sits above most neighborhoods nationally. For investors, this translates into steady multifamily demand and a broad tenant pool across price points. Median contract rents trend above the national midpoint, while rent-to-income ratios indicate some affordability pressure; thoughtful lease management and renewal strategies can help sustain occupancy and limit turnover.
Within a 3-mile radius, recent demographics show modest population softening alongside growth in households and families, with projections calling for further household expansion and smaller average household size. This shift typically supports a larger renter pool and ongoing demand for multifamily units, even as population levels flatten. Elevated home values relative to local incomes (high value-to-income positioning) reinforce reliance on rental housing and can support pricing power for well-maintained properties, based on CRE market data from WDSuite.
Safety conditions are mixed. The neighborhood ranks 289th out of 449 metro neighborhoods for crime, placing it below the metro median and below the national median overall. Recent data indicate a modest decline in estimated violent incidents year over year, while property crime estimates show a recent uptick. Investors should factor in standard security measures and lighting, and monitor trends as part of ongoing operations.
Proximity to established corporate offices supports workforce renter demand and commute convenience, notably Johnson & Johnson, World Fuel Services, Ryder System, Lennar, and Mosaic.
- Johnson & Johnson — corporate offices (4.0 miles)
- World Fuel Services — corporate offices (5.7 miles) — HQ
- Ryder System — corporate offices (7.1 miles) — HQ
- Lennar — corporate offices (7.8 miles) — HQ
- Mosaic — corporate offices (9.8 miles)
Built in 1984, this 20‑unit property is newer than much of the surrounding housing stock, offering a relative quality edge while still presenting opportunities for targeted modernization of interiors and building systems. Neighborhood occupancy is elevated versus national norms, supporting cash-flow stability and quicker re-leasing, according to CRE market data from WDSuite. Within a 3‑mile radius, households have grown and are projected to expand further even as population levels trend flat—an indicator of smaller household sizes and a broader renter pool.
High ownership costs relative to local incomes underpin renter reliance on multifamily housing, which can aid pricing power for well-kept units. At the same time, rent-to-income levels suggest affordability pressure for some segments, and local school quality, limited park access, and mixed safety signals warrant prudent operations and capital planning.
- Elevated neighborhood occupancy supports leasing stability and retention
- 1984 vintage offers value-add potential through targeted renovations and system updates
- Household growth and smaller household sizes within 3 miles expand the renter pool
- High ownership costs reinforce multifamily demand and selective pricing power
- Risks: affordability pressure, lower school ratings, limited park access, and mixed safety trends