| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 72nd | Good |
| Demographics | 22nd | Poor |
| Amenities | 43rd | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 3800 NW 183rd St, Miami Gardens, FL, 33055, US |
| Region / Metro | Miami Gardens |
| Year of Construction | 2000 |
| Units | 24 |
| Transaction Date | 2018-04-25 |
| Transaction Price | $16,350,000 |
| Buyer | DOUGLAS POINTE PRESERVATION LTD |
| Seller | DOUGLAS POINTE ASSOCIATES LTD |
3800 NW 183rd St Miami Gardens Multifamily Investment
Positioned in an inner-suburb location with neighborhood multifamily occupancy near the high-90s, this 2000-vintage asset competes well against older local stock. Based on commercial real estate analysis from WDSuite, renter demand is supported by a broad employment base and an owner-leaning area that can stabilize retention.
The property sits in an Inner Suburb of Miami Gardens within the Miami–Miami Beach–Kendall metro. Neighborhood multifamily occupancy is 96.1% and ranks 178 out of 449, which is above the metro median and competitive among Miami neighborhoods, according to WDSuite’s CRE market data. The local renter-occupied share is about one-third, indicating a moderate renter base that can support steady leasing while still drawing from nearby owner-occupied households.
Amenity access is a relative strength: grocery options are abundant (around the 90th percentile nationally), with cafes and childcare also scoring high (upper-80s and low-80s percentiles). By contrast, parks and pharmacies are limited within the immediate neighborhood, suggesting residents rely on nearby districts for some services. Average school ratings trail national norms (around the 15th percentile), which can weigh on family-driven renter decisions and should be considered in leasing strategy.
Home values in the neighborhood are elevated in a national context, and the value-to-income ratio sits high (upper-80s percentile nationally). For investors, a high-cost ownership market tends to sustain rental demand and supports pricing power over time. At the same time, the neighborhood rent-to-income ratio is roughly 20%, signaling lower affordability pressure that can aid lease retention and reduce turnover sensitivity.
Demographic statistics aggregated within a 3-mile radius show households have grown even as population previously edged lower, reflecting smaller household sizes and ongoing household formation. Looking ahead, projections point to an increase in households and incomes, which supports a larger tenant base and underpins demand for multifamily units, according to WDSuite’s CRE market data.
Safety indicators are mixed in a way investors should contextualize. Nationally, the neighborhood scores above average on both property and violent offense measures (higher national percentiles indicate relatively safer conditions). Within the Miami metro, however, the area ranks in a lower tier compared with many neighborhoods, so on-the-ground diligence and property-level security planning remain prudent.
Trend-wise, estimated violent offense rates have declined meaningfully year over year, a positive directional signal to monitor alongside broader metro dynamics. As always, compare property-level measures and recent police or community reports to neighborhood-level patterns when underwriting.
Nearby corporate offices provide a diverse employment base that supports renter demand and commute convenience, notably in healthcare, logistics, energy, and homebuilding. Employers include Johnson & Johnson, Ryder System, World Fuel Services, Mosaic, and Lennar.
- Johnson & Johnson — healthcare & consumer products (3.2 miles)
- Ryder System — logistics & transportation (9.0 miles) — HQ
- World Fuel Services — energy & fuel services (10.5 miles) — HQ
- Mosaic — industrial & materials (12.4 miles)
- Lennar — homebuilding (13.0 miles) — HQ
Built in 2000, this 24-unit property is newer than much of the surrounding stock (local average vintage is late 1970s), offering a relative competitive edge versus older assets while still warranting selective system updates over a hold. Neighborhood occupancy is strong and above the metro median, and a high-cost ownership landscape reinforces reliance on rentals, supporting tenant retention and pricing discipline. According to CRE market data from WDSuite, the area’s renter-occupied share sits near one-third, suggesting demand depth without oversaturation.
Within a 3-mile radius, households have increased and are projected to rise further alongside income gains, expanding the renter pool and supporting occupancy stability. Amenity access is favorable for daily needs (notably groceries, cafes, and childcare), though limited parks/pharmacies and below-average school ratings are factors to weigh in leasing and resident-experience planning.
- 2000 vintage offers competitive positioning versus older neighborhood stock, with targeted CapEx for modernization.
- Above-metro-median neighborhood occupancy supports revenue stability and reduces lease-up risk.
- High-cost ownership market sustains rental demand and underpins pricing power and retention.
- 3-mile household and income growth expands the tenant base, supporting long-term demand.
- Risks: owner-leaning tenure, below-average school ratings, limited parks/pharmacies, and a metro-relative safety rank that warrants property-level diligence.