| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 69th | Fair |
| Demographics | 48th | Good |
| Amenities | 16th | Poor |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 5710 NW 186th St, Hialeah, FL, 33015, US |
| Region / Metro | Hialeah |
| Year of Construction | 1998 |
| Units | 20 |
| Transaction Date | --- |
| Transaction Price | $1,204,100 |
| Buyer | SIESTA POINTE ASSOCIATES LTD |
| Seller | KASALTA MIRAMAR INC |
5710 NW 186th St Hialeah Multifamily Opportunity
Neighborhood fundamentals point to steady renter demand, with renter-occupied housing comprising a large share of units and occupancy hovering in the mid-90s, according to WDSuite’s CRE market data. This balance suggests durable leasing conditions for a small-scale asset in Miami-Dade.
Positioned in Hialeah’s Urban Core, the property sits in a renter-heavy neighborhood where the share of renter-occupied units is among the highest in the Miami-Miami Beach-Kendall metro (top quartile among 449 neighborhoods). That depth of the tenant base supports leasing velocity and reduces exposure to demand shocks compared with more ownership-heavy areas, based on CRE market data from WDSuite.
Occupancy at the neighborhood level is above the metro median and in the upper tier nationally, which is consistent with stable renewal potential and fewer prolonged vacancies relative to weaker submarkets. Median contract rents benchmark above many U.S. neighborhoods, indicating pricing power tied to Miami-Dade’s broader demand drivers, while remaining competitive within the metro’s spectrum.
Within a 3-mile radius, households have expanded over the past five years even as average household size edged down, pointing to a larger, more diversified renter pool. Looking ahead to 2028, forecasts indicate further population and household growth, plus rising incomes, which can underpin rent collections and help sustain occupancy. Investors should pair that tailwind with thoughtful lease management given observed rent-to-income pressures locally.
On amenities, neighborhood data show limited density of restaurants, grocers, cafes, and parks, but strong pharmacy access (high national percentile). For daily living, this mix suggests residents may rely on nearby corridors for retail and services rather than immediate walkability, which can be offset by access to county-wide employment nodes.
Vintage context: built in 1998 versus a local average vintage near the early 1990s, the asset is somewhat newer than much of the surrounding stock. That positioning can aid competitive leasing, though investors should still anticipate selective modernization of interiors and building systems to capture value-add upside.
Neighborhood safety indicators track close to the national midpoint overall, with recent year-over-year declines in both violent and property offense estimates. These improving trends suggest momentum rather than a structural shift, so ongoing monitoring remains prudent.
Within the Miami-Miami Beach-Kendall metro (449 neighborhoods), the area performs around the middle of the pack on crime. Nationally, property and violent offense measures sit below top-tier safety percentiles but have shown notable improvement over the last year. For investors, this typically supports steady renter demand while emphasizing the value of lighting, access control, and resident engagement to reinforce retention.
Proximity to major employers supports workforce housing demand and commute convenience, including Johnson & Johnson, Ryder System, World Fuel Services, Lennar, and AutoNation.
- Johnson & Johnson — corporate offices (2.6 miles)
- Ryder System — logistics & transportation (7.5 miles) — HQ
- World Fuel Services — energy & logistics (9.7 miles) — HQ
- Lennar — homebuilding (12.3 miles) — HQ
- AutoNation — automotive retail (15.5 miles) — HQ
This 20-unit, 1998-vintage asset benefits from a renter-dense Miami-Dade neighborhood with occupancy running above the metro median and in the upper national tiers, supporting lease-up and renewals. According to CRE market data from WDSuite, neighborhood rent levels sit competitively versus U.S. peers, while the renter-occupied share is among the highest in the metro—favorable for demand depth. Proximity to multiple corporate employers further bolsters a steady tenant base.
Demographic indicators within a 3-mile radius show household growth and rising incomes over time, with forecasts pointing to additional expansion through 2028—tailwinds for collections and rent progression. The 1998 construction provides a relative edge versus older local stock, and targeted interior and systems upgrades present value-add potential. Key watch items include localized rent-to-income pressure and limited immediate amenity density, both manageable with prudent leasing strategy and unit positioning.
- High renter concentration and above-median neighborhood occupancy support durable leasing
- 1998 vintage offers competitive positioning with value-add modernization potential
- Nearby corporate employers reinforce workforce demand and retention
- 3-mile household and income growth projections underpin rent collections through 2028
- Risks: rent-to-income pressure and amenity-light micro-location require disciplined lease and upgrade strategies