| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 73rd | Good |
| Demographics | 30th | Fair |
| Amenities | 62nd | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 6720 W 2nd Ct, Hialeah, FL, 33012, US |
| Region / Metro | Hialeah |
| Year of Construction | 1972 |
| Units | 50 |
| Transaction Date | 2016-12-20 |
| Transaction Price | $3,017,400 |
| Buyer | CAMELOT OF FLORIDA LLC |
| Seller | CAMELOT ONE CORP |
6720 W 2nd Ct Hialeah Multifamily Investment
Neighborhood occupancy is strong and supports stable rent rolls, according to WDSuite’s CRE market data, with a high share of renter-occupied housing indicating depth in the tenant base. Position within Miami-Dade’s inner suburbs offers durable demand drivers without relying on a single catalyst.
Situated in Hialeah’s Inner Suburb fabric, the property benefits from neighborhood occupancy that sits in the top quartile among 449 metro neighborhoods, a favorable signal for lease stability. The area also shows a high renter-occupied share, reinforcing depth of multifamily demand and a broad base for renewals.
Everyday convenience is solid for renters: the neighborhood’s amenity profile trends above national midline, with grocery and restaurant density scoring in higher national percentiles. While childcare options are thinner locally, the overall mix of cafes, groceries, parks, and pharmacies supports resident livability and day-to-day needs.
Within a 3-mile radius, households have grown even as population edged lower, pointing to smaller average household sizes and a larger pool of potential renters. Forecast data continues this trend with additional household growth, which should expand the tenant base and support occupancy. Median contract rents in the area have risen over the last five years, and neighborhood rent levels track near the metro’s middle tier, aligning with steady—rather than speculative—demand patterns.
Ownership remains a higher-cost path relative to local incomes, a dynamic that tends to sustain reliance on rental housing and can support pricing power when managed carefully. At the property level, the 1972 vintage is older than the neighborhood average construction year, pointing to value-add and systems modernization opportunities that can enhance competitive positioning versus newer stock.
Safety indicators are mixed in a metro context. The neighborhood’s crime ranking sits below the Miami area median (298 out of 449), signaling comparatively higher incident levels than many peer neighborhoods. Nationally, the area falls below mid-percentiles for both violent and property offenses, though recent data show a meaningful year-over-year decline in property offenses, an improvement trend that is favorable compared with many neighborhoods nationwide.
For underwriting, this suggests investors should weigh security, lighting, and property management practices as part of operations, while recognizing that improving property offense trends may support retention and leasing when paired with proactive measures.
Nearby corporate offices provide diverse employment anchors and short commutes that can support workforce housing demand and lease retention. Notable employers include Johnson & Johnson, Ryder System, World Fuel Services, Lennar, and Mosaic.
- Johnson & Johnson — healthcare & consumer products offices (1.5 miles)
- Ryder System — transportation & logistics (6.0 miles) — HQ
- World Fuel Services — energy services (6.4 miles) — HQ
- Lennar — homebuilding (8.9 miles) — HQ
- Mosaic — chemicals offices (11.6 miles)
This 50-unit, larger-format community (average unit size near 1,170 SF) aligns with family-driven renter demand in Hialeah. Neighborhood fundamentals are supportive: occupancy ranks in the top quartile among 449 metro neighborhoods and renter concentration is high, pointing to a durable tenant base and steady leasing. According to CRE market data from WDSuite, ownership costs relative to incomes tilt the area toward rental housing, which can reinforce pricing power when paired with active lease management.
The 1972 vintage is older than the neighborhood average, creating a clear value-add path through interior updates and systems modernization to compete against newer supply. Within a 3-mile radius, household counts have increased and are projected to grow further even as average household size declines, expanding the renter pool and supporting occupancy stability. Investors should account for affordability pressure (rent-to-income near 27%) and localized safety considerations in underwriting, but the combination of scale, unit mix, and location fundamentals offers a compelling, operations-focused thesis.
- Top-quartile neighborhood occupancy among 449 metro areas supports stable rent rolls
- High renter-occupied share indicates depth of tenant demand and renewal potential
- 1972 vintage offers value-add and systems modernization upside versus newer stock
- 3-mile household growth and shrinking household size expand the renter pool
- Risks: localized safety metrics below metro median and affordability pressure may affect retention