| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 73rd | Good |
| Demographics | 31st | Fair |
| Amenities | 63rd | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 5545 W 24th Ave, Hialeah, FL, 33016, US |
| Region / Metro | Hialeah |
| Year of Construction | 1989 |
| Units | 22 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
5545 W 24th Ave Hialeah Multifamily Investment
Neighborhood multifamily occupancy is strong and above the metro median, according to WDSuite’s CRE market data, supporting stable renter demand around this Hialeah address. A sizable renter-occupied housing base further underpins leasing durability in this Miami-Dade submarket.
The property sits in an Urban Core pocket of Hialeah, within the Miami-Miami Beach-Kendall metro. Neighborhood multifamily occupancy is 96.1% and ranks 180 out of 449 neighborhoods — above the metro median — indicating tight conditions that can support pricing and renewal strategies. The area’s renter-occupied share is 58.9%, signaling a deep tenant base and consistent leasing velocity for multifamily assets.
Daily needs and services are accessible, with restaurants and pharmacies scoring in the mid-90s by national percentile, and cafes in the mid-90s as well. However, grocery and park counts are limited within the immediate neighborhood, so residents often draw on nearby corridors for those uses. This mix tends to favor convenience-driven renters who prioritize dining and services access over green space.
Median contract rents at the neighborhood level are reported at $1,472 with multi-year growth, while the rent-to-income ratio of 0.42 indicates affordability pressure for some households — a consideration for lease management and renewal strategies. Home values are elevated relative to local incomes (value-to-income ratio in a high national percentile), which generally sustains reliance on rental housing and can support retention.
Construction trends skew slightly older (average vintage 1983 across the neighborhood), and this asset’s 1989 vintage is somewhat newer than the local average — a relative advantage versus older stock. That said, investors should still plan for system updates or modernization to maintain competitive positioning. Demographic statistics aggregated within a 3-mile radius show modest population softening alongside growth in households and families, which points to smaller household sizes and a potentially larger renter pool over time, supporting occupancy stability.
Safety indicators in this neighborhood are mixed relative to broader benchmarks. The neighborhood’s crime rank sits near the metro median (215 of 449), while national positioning is below the midpoint (43rd percentile), indicating conditions that merit standard operational vigilance. Property offense rates are roughly mid-pack nationally but have improved year over year, placing the neighborhood in the top third for improvement. Violent offense metrics trend weaker nationally (around the lower quartiles) with a recent uptick, underscoring the value of routine safety measures and resident communication.
Nearby corporate offices provide a diversified employment base that supports renter demand and commute convenience, including Johnson & Johnson, Ryder System, World Fuel Services, Lennar, and Mosaic.
- Johnson & Johnson — corporate offices (2.97 miles)
- Ryder System — corporate offices (3.41 miles) — HQ
- World Fuel Services — corporate offices (4.55 miles) — HQ
- Lennar — corporate offices (7.11 miles) — HQ
- Mosaic — corporate offices (13.65 miles)
This 22-unit asset, built in 1989, benefits from neighborhood fundamentals that favor multifamily: occupancy is above the metro median and the renter-occupied share is high, supporting depth of demand and renewal stability. Rents have risen over the last five years at the neighborhood level, and elevated ownership costs relative to income tend to reinforce reliance on rental housing. According to CRE market data from WDSuite, amenity access is strong for restaurants, cafes, and pharmacies, while limited parks and grocery options shape a convenience-oriented renter profile.
Relative to the area’s older average vintage (1983), the property’s 1989 construction offers a modest competitive edge versus older stock, though investors should budget for ongoing system refreshes and potential value-add updates. Demographics within a 3-mile radius show household growth alongside slightly smaller household sizes, indicating a gradually expanding renter pool even amid softer population totals. Affordability pressure, reflected in a higher rent-to-income ratio, makes proactive lease management and retention programs important risk controls.
- Above-metro-median neighborhood occupancy supports stable leasing and renewals
- High renter-occupied housing share indicates depth of tenant demand
- 1989 vintage is newer than local average, with potential for targeted value-add
- Strong access to dining and services aligns with convenience-oriented renters
- Risk: Elevated rent-to-income levels and mixed safety trends warrant focused lease and operations management