| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 74th | Good |
| Demographics | 16th | Poor |
| Amenities | 41st | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1701 NW 207th St, Miami Gardens, FL, 33056, US |
| Region / Metro | Miami Gardens |
| Year of Construction | 2004 |
| Units | 21 |
| Transaction Date | --- |
| Transaction Price | $27,000,000 |
| Buyer | AOF EMERALD DUNES LLC |
| Seller | EMERALD DUNES APARTMENTS LTD |
1701 NW 207th St Miami Gardens 2004 Multifamily
Neighborhood renter-occupied share near 60% and occupancy around the mid‑90s suggest a deep tenant base and stable leasing, according to WDSuite’s CRE market data.
Located in an inner suburb of the Miami metro, the property benefits from neighborhood fundamentals that are supportive for multifamily. Neighborhood occupancy is about 94% and has trended up in recent years, indicating steady renter demand at the neighborhood level rather than at the individual property. The renter-occupied share sits near 59%, signaling a sizable tenant pool that can support leasing and retention strategies.
The 2004 vintage positions the asset newer than the neighborhood’s average construction year of 1987, which can be a competitive advantage versus older stock while still warranting ongoing capital planning for systems and common areas over a longer hold. Neighborhood NOI per unit levels rank in the top quartile among 449 Miami metro neighborhoods, underscoring income performance that has compared favorably within the metro, based on CRE market data from WDSuite.
Local livability is mixed but workable for workforce housing. Parks density is strong (top decile nationally), and restaurants and groceries are available at above‑average levels relative to neighborhoods nationwide, while cafes and pharmacies are thinner. These patterns typically support day‑to‑day convenience without commanding core‑urban pricing.
Within a 3‑mile radius, demographics point to a broadly stable population with a recent increase in households and forecasts calling for further household growth alongside smaller average household sizes. This combination generally expands the renter pool and supports occupancy stability and lease‑up velocity for well‑positioned units.
Home values in the neighborhood are elevated relative to local incomes (high value‑to‑income ratios within the metro and nationally). In practice, a high‑cost ownership market tends to sustain reliance on rental housing, supporting depth of demand, while rent‑to‑income levels suggest some affordability pressure that operators should monitor for implications on pricing power and renewal strategies.
Safety conditions should be evaluated thoughtfully at the neighborhood and corridor level. The neighborhood’s overall crime rank is toward the higher‑incidence end within the Miami metro (ranked 20 out of 449 neighborhoods), indicating crime occurs more frequently here than in many peer areas. However, recent trend data shows improvement: violent offense rates declined materially over the past year, placing the neighborhood above many peers for year‑over‑year progress. Investors may find value in targeted security, lighting, and access‑control measures to support resident retention and asset performance.
Compared nationally, several indicators suggest mid‑pack to somewhat favorable standing, with recent declines in violent offenses and moderation in property offenses over the last year. As always, underwrite with current, property‑specific information and consider sub‑neighborhood variability when assessing risk.
Proximity to a diverse employment base supports renter demand and commute convenience for workforce households, anchored by healthcare, logistics, energy, and homebuilding corporate offices noted below.
- Johnson & Johnson — healthcare products (5.8 miles)
- Ryder System — logistics & transportation (11.6 miles) — HQ
- AutoNation — automotive retail (12.0 miles) — HQ
- Mosaic — chemicals & materials (12.7 miles)
- World Fuel Services — energy & fuel services (13.1 miles) — HQ
This 2004, 21‑unit multifamily asset in Miami Gardens sits in a renter‑heavy neighborhood where occupancy has remained high, supporting income stability for well‑managed units. Elevated ownership costs in the area reinforce reliance on rental housing, while rising neighborhood occupancy and top‑quartile NOI per unit performance versus 449 metro neighborhoods indicate competitive income potential, according to CRE market data from WDSuite.
Within a 3‑mile radius, household counts have expanded and are projected to grow further as average household size trends lower, pointing to a larger tenant base over time. Operators should balance this demand tailwind with prudent lease management given rent‑to‑income readings that imply affordability pressure for some cohorts and a crime profile that warrants ongoing security best practices.
- Newer 2004 vintage versus neighborhood average, offering competitive positioning against older stock
- Strong neighborhood occupancy and sizeable renter-occupied share support leasing stability
- Top‑quartile neighborhood NOI per unit within the Miami metro underscores income potential
- 3‑mile household growth and smaller household sizes expand the renter pool over time
- Risks: affordability pressure may temper pricing power; local crime profile requires active management