| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 70th | Fair |
| Demographics | 33rd | Fair |
| Amenities | 79th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1040 SW 1st St, Miami, FL, 33130, US |
| Region / Metro | Miami |
| Year of Construction | 2009 |
| Units | 90 |
| Transaction Date | 2004-06-30 |
| Transaction Price | $900,000 |
| Buyer | PENINSULA HOUSING DEVELOPMENT INC XVII |
| Seller | CANTELOP PROPERTIES LTD |
1040 SW 1st St Miami Multifamily Investment Opportunity
Neighborhood fundamentals point to durable renter demand supported by high renter concentration and a history of stable neighborhood occupancy, according to CRE market data from WDSuite. These indicators suggest consistent leasing performance for well-managed assets in this Miami urban core location.
This Urban Core location in Miami offers strong day-to-day convenience, with restaurants and groceries ranking in the top quartile nationally for density; that translates into walkable amenities that support tenant retention and leasing velocity. By contrast, park access is limited in this immediate area, an item to weigh for residents prioritizing green space.
Neighborhood housing stock skews older than the subject property, with the average construction year measured across the neighborhood well before 2009. The asset s 2009 vintage should remain competitive versus much of the local inventory, though investors should still plan for ongoing systems maintenance and periodic modernization to sustain positioning.
Renter-occupied housing comprises a large share of neighborhood units (high renter concentration, ranked among the strongest renter shares in the metro out of 449 neighborhoods), deepening the tenant base and generally supporting multifamily demand. Neighborhood occupancy sits around the national median and has improved over the past five years, which can help underpin income stability for assets that are actively managed and appropriately priced.
Within a 3-mile radius, population has grown and households have increased meaningfully, with projections calling for continued population growth and a sizable increase in households. This points to a larger tenant base and potential renter pool expansion, which can support occupancy and absorption for well-located communities.
Ownership costs in the neighborhood are elevated relative to national norms (home values trend high on a national basis), which typically reinforces reliance on rental housing and can aid pricing power for competitive units. At the same time, rent-to-income levels indicate some affordability pressure, suggesting prudent lease management and renewal strategies will be important to sustain retention.
Relative to other U.S. neighborhoods, safety indicators for this area sit below national midpoints, and the neighborhood ranks below the metro median for safety among 449 Miami-Miami Beach-Kendall neighborhoods. Recent trends show year-over-year declines in both property and violent offense rates at the neighborhood level, which is constructive, but risk remains uneven and block-to-block variation is common in urban cores.
For underwriting, investors often account for added security measures, lighting, and access controls, and consider how proximity to active commercial corridors may influence resident perceptions. Comparing submarket and citywide patterns can help benchmark expectations; according to WDSuite s CRE market data, the area s safety profile is improving on the margin but still trails stronger-performing Miami submarkets.
The location is within commuting distance of major corporate offices that anchor professional employment and support renter demand, including Mosaic, World Fuel Services, Lennar, Johnson & Johnson, and Ryder System.
- Mosaic agriculture & chemicals (6.2 miles)
- World Fuel Services energy & fuel logistics (9.3 miles) HQ
- Lennar homebuilding (9.8 miles) HQ
- Johnson & Johnson healthcare products (10.5 miles)
- Ryder System logistics & transportation (12.6 miles) HQ
Constructed in 2009 with 90 units, the property is materially newer than much of the surrounding housing stock, providing a competitive edge versus older inventory while still warranting routine capital planning for building systems over the hold. High neighborhood renter concentration and a history of stable neighborhood occupancy support demand resilience, while elevated ownership costs locally tend to sustain reliance on rental housing.
Within a 3-mile radius, recent population growth and a notable increase in households point to a larger tenant base, with forecasts indicating continued expansion that can support absorption and occupancy stability. According to commercial real estate analysis from WDSuite, amenity density is a local strength, aiding retention, while rent-to-income levels suggest the need for disciplined lease management to mitigate affordability pressure.
- 2009 vintage offers competitive positioning versus older neighborhood stock, with manageable modernization needs.
- High renter concentration and historically stable neighborhood occupancy support demand and income durability.
- Strong amenity access (food, pharmacies, services) supports leasing velocity and resident retention.
- 3-mile household and population growth expands the renter pool and supports absorption outlook.
- Risks: below-median safety relative to metro and affordability pressures call for security planning and disciplined lease management.