| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 68th | Fair |
| Demographics | 25th | Poor |
| Amenities | 62nd | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 605 NW 177th St, Miami Gardens, FL, 33169, US |
| Region / Metro | Miami Gardens |
| Year of Construction | 1972 |
| Units | 92 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
605 NW 177th St Miami Gardens Multifamily Investment
Neighborhood fundamentals point to steady renter demand supported by strong amenity access and a high-cost ownership backdrop, according to WDSuite’s CRE market data. This location offers scale for operational efficiency while leaving room for value-add repositioning.
Miami Gardens sits within the Miami-Miami Beach-Kendall metro and this neighborhood rates B-, signaling balanced livability with investor-relevant strengths. Amenity access is a clear upside: café density ranks 107 out of 449 metro neighborhoods and grocery access ranks 75 out of 449, placing the area competitive to top quartile locally and in the upper half nationally. Restaurant options also track well above national medians. Park and pharmacy counts are limited, so outdoor and health-service access may require short drives to nearby districts.
Renter demand signals are constructive. The neighborhood’s share of renter-occupied housing units is high in national context (near the upper decile), indicating a deep tenant base that supports leasing velocity and ongoing absorption. Neighborhood occupancy trends sit around national norms, which typically translates to stable, needs-based demand rather than oversupply dynamics.
Within a 3-mile radius, the population has been expanding with additional household formation and a projected increase in households over the next five years. Forecasts also indicate smaller average household sizes, which can enlarge the renter pool and support occupancy stability for multifamily assets.
Ownership costs trend elevated relative to local incomes (value-to-income metrics rank high nationally), which tends to reinforce reliance on rental housing and can bolster pricing power for well-managed properties. Median contract rents in the neighborhood land above U.S. medians, and rent-to-income readings suggest some affordability pressure—an important consideration for lease management and renewal strategies.
Vintage positioning: The average neighborhood construction year is 1981. With a 1972 build, this asset is older than surrounding stock, implying potential capital planning needs but also value-add upside through targeted renovations and modernization to differentiate against aging comparables.
Safety signals present a mixed picture. Compared with 449 metro neighborhoods in Miami-Miami Beach-Kendall, the neighborhood’s crime rank sits in a higher-incident tier (rank 104 of 449, where lower ranks indicate more crime), suggesting above-metro-average incident levels. Nationally, overall safety lands near the middle of the pack (around the 50th percentile), indicating conditions that are broadly in line with many U.S. neighborhoods.
Recent trends are nuanced: property-related incidents show modest year-over-year improvement, while estimates for violent offenses indicate a recent uptick. For underwriting, investors typically account for site-specific measures (lighting, access control, staffing) and monitor neighborhood trendlines rather than single-year readings.
Proximity to diversified employers supports a broad workforce renter base and commute convenience. Notable nearby employers include Johnson & Johnson, Mosaic, Ryder System, World Fuel Services, and AutoNation.
- Johnson & Johnson — healthcare & pharmaceuticals (5.8 miles)
- Mosaic — chemicals (10.3 miles)
- Ryder System — logistics & transportation (11.8 miles) — HQ
- World Fuel Services — energy & fuel services (12.5 miles) — HQ
- AutoNation — automotive retail (13.3 miles) — HQ
This 92-unit, 1972-vintage asset offers scale in an Urban Core setting with durable renter demand drivers. Amenity density is a local strength, and ownership costs run high relative to incomes, which often sustains reliance on rental housing. Neighborhood occupancy trends track near national norms, pointing to steady absorption rather than volatility. Based on commercial real estate analysis grounded in WDSuite’s CRE market data, this submarket demonstrates a sizable renter-occupied base and stable demand fundamentals that can support disciplined rent growth.
The 1972 construction suggests near- to medium-term capital planning for systems and interiors; however, that same vintage provides room for targeted value-add to improve competitive positioning versus slightly newer stock nearby. Demographic trends within a 3-mile radius—population growth, rising household counts, and smaller projected household sizes—support a larger tenant base and occupancy stability over the next cycle.
- Workforce-centered location with strong amenity access and broad employer base supporting leasing stability
- High-cost ownership market reinforces multifamily demand and pricing power for well-managed assets
- 1972 vintage offers clear value-add and modernization pathways to outperform aging comparables
- Demographic tailwinds within 3 miles—more households and smaller sizes—expand the renter pool
- Risks: above-metro crime rank and rent-to-income pressure require prudent underwriting and tenant retention strategy