| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 78th | Best |
| Demographics | 28th | Poor |
| Amenities | 56th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 3425 NW 189th St, Miami Gardens, FL, 33056, US |
| Region / Metro | Miami Gardens |
| Year of Construction | 2009 |
| Units | 84 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
3425 NW 189th St Miami Gardens Multifamily Investment
Neighborhood occupancy runs high, supporting stable leasing and renter demand in Miami Gardens, according to WDSuite’s CRE market data. These dynamics position a 2009-vintage, mid-size asset for durable performance relative to similar inner-suburb locations.
The property sits in an inner-suburb pocket of Miami Gardens with a B- neighborhood rating and occupancy that tracks in the top quartile nationally among neighborhoods, per WDSuite. This points to steady renter demand and supports pricing power and retention, even as cycles shift. Median contract rents in the area have risen over the last five years, while rent-to-income indicators remain comparatively manageable, reducing near-term affordability pressure from an investor’s lease-management standpoint.
2009 construction is newer than the neighborhood average vintage (early 1980s), which generally improves competitive positioning versus older stock. Investors should still plan for normal mid-life system updates and selective common-area refreshes to sustain leasing velocity and maintain an edge over aging comparables.
Local amenity access is competitive among Miami–Miami Beach–Kendall neighborhoods, with strong counts of parks and everyday services like groceries. School ratings trend below the national midpoint, which may influence unit mix appeal toward households prioritizing proximity to employment and conveniences. Cafés and pharmacies are thinner in the immediate neighborhood, but the broader metro’s retail and service base is accessible by short drives.
Within a 3-mile radius, WDSuite’s data indicate household counts have grown and are projected to continue increasing alongside smaller average household sizes. This points to a larger tenant base and ongoing demand for rental units, reinforcing occupancy stability for well-managed, mid-scale multifamily assets in this submarket.
Ownership remains a high-cost path relative to incomes in the neighborhood compared with national norms, which tends to sustain reliance on multifamily housing. For investors, this typically supports leasing depth and reduces turnover risk as renters weigh monthly costs versus buying.
Safety indicators present a mixed but improving picture when viewed through WDSuite’s national benchmarks. Property offense measures currently sit in a strong national position (top quartile), with notable year-over-year improvement, while violent offense levels track closer to the national midrange. This pattern suggests day-to-day property risks are comparatively limited, even as investors should apply standard security and lighting best practices consistent with South Florida inner-suburb assets.
Relative to the broader Miami–Miami Beach–Kendall metro, the neighborhood’s recent crime trend performance aligns competitively on property categories and is more neutral on violent categories. For underwriting, calibrate to current insurer guidance and emphasize on-site management, access control, and resident engagement to maintain stability.
Nearby corporate nodes include Johnson & Johnson, Ryder System, World Fuel Services, Mosaic, and Lennar. Their proximity supports commute convenience and a diversified employment base that can bolster renter demand and retention.
- Johnson & Johnson — corporate offices (3.8 miles)
- Ryder System — logistics & transportation (9.5 miles) — HQ
- World Fuel Services — energy & logistics (11.1 miles) — HQ
- Mosaic — corporate offices (12.6 miles)
- Lennar — homebuilding (13.6 miles) — HQ
This 84-unit, 2009-vintage asset offers durable, workforce-oriented demand drivers in an inner-suburb location where neighborhood occupancy ranks near the top nationally. According to commercial real estate analysis from WDSuite, rent levels have trended upward over the last five years while rent-to-income ratios remain comparatively manageable, supporting lease retention and steady collections. Newer construction than the area’s typical stock enhances competitive positioning, with capital planning focused on mid-life systems and targeted upgrades rather than full repositioning.
Within a 3-mile radius, households are projected to increase while average household size trends down, expanding the renter pool and supporting occupancy stability over the medium term. Elevated ownership costs relative to incomes further reinforce reliance on multifamily housing, underpinning depth of demand for well-managed properties at this scale.
- High neighborhood occupancy supports stable leasing and pricing power.
- 2009 construction is competitive versus older local stock, with moderate CapEx needs.
- Expanding 3-mile household base and smaller sizes point to a larger tenant pool.
- Elevated ownership costs sustain multifamily demand and retention potential.
- Risks: below-average school ratings and thinner café/pharmacy density may temper family-driven demand; underwrite to standard security and on-site management practices.