| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 77th | Best |
| Demographics | 27th | Poor |
| Amenities | 56th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 10805 SW 224th Ter, Miami, FL, 33170, US |
| Region / Metro | Miami |
| Year of Construction | 1997 |
| Units | 61 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
10805 SW 224th Ter Miami Multifamily Investment
Neighborhood occupancy around the property has been resilient, supporting lease stability and consistent renter demand according to WDSuite’s CRE market data. A meaningful share of nearby housing units are renter-occupied, reinforcing depth of the tenant base for a 61-unit asset.
Situated in Miami’s inner suburbs, the property benefits from a neighborhood rating of B- with performance that is competitive among Miami-Miami Beach-Kendall neighborhoods (rank 230 of 449). Local occupancy is above many peer areas, and the renter-occupied share of housing units indicates a sizable tenant pool for multifamily leasing.
Amenities are mixed but serviceable for daily needs. Restaurant access trends strong (83rd percentile nationally), groceries are comparatively available (77th percentile nationally), and parks score high (90th percentile nationally). Cafés and pharmacies are thinner on the ground (both low nationally), which is a consideration for convenience but not typically a primary driver of multifamily performance.
Housing fundamentals compare well at the national level: the neighborhood’s housing profile sits in the top quartile nationally, supporting renter interest and pricing power when product is well-positioned. Median home values trend elevated versus many U.S. neighborhoods (74th percentile nationally), creating a high-cost ownership context that can sustain reliance on rental housing and support retention.
Vintage context matters: neighborhood construction skews newer on average (2009). With a 1997 build, this property is older than nearby stock, suggesting potential value-add positioning or targeted capital planning to stay competitive against newer assets. Demographic statistics aggregated within a 3-mile radius show recent population growth with notable increases in households and incomes, and forecasts point to further household expansion alongside rising median incomes. These trends can translate into a larger tenant base and support for occupancy and rent levels over time, based on CRE market data from WDSuite.
Safety indicators should be contextualized. Compared with neighborhoods nationwide, this area’s recent crime positioning trends below the national median, while within the Miami-Miami Beach-Kendall metro it tracks below the metro median (crime rank 252 of 449). However, year-over-year trends indicate improvement: estimated violent offense rates declined, and property offenses also eased, signaling directional progress rather than a structural conclusion.
Nationally benchmarked percentiles suggest the area is not among the safer cohorts today, but the recent reductions in estimated incident rates point to momentum investors may monitor over additional periods. As always, investors should consider property-level measures, lighting, access controls, and local policing/activity patterns alongside neighborhood statistics when underwriting.
Proximity to major corporate offices supports a diverse employment base and commute convenience for renters. Notable employers include Lennar, World Fuel Services, Ryder System, Mosaic, and Johnson & Johnson.
- Lennar — homebuilding corporate offices (15.1 miles) — HQ
- World Fuel Services — energy & logistics corporate offices (17.5 miles) — HQ
- Ryder System — transportation & logistics corporate offices (21.4 miles) — HQ
- Mosaic — chemicals corporate offices (23.2 miles)
- Johnson & Johnson — healthcare products corporate offices (24.2 miles)
This 61-unit, 1997-vintage asset sits in an inner-suburban Miami neighborhood where occupancy and renter demand have exhibited resilience relative to many peer areas. The neighborhood’s housing profile ranks in the top quartile nationally, restaurants and groceries index well, and elevated ownership costs in the area reinforce renter reliance on multifamily housing. According to CRE market data from WDSuite, neighborhood occupancy remains healthy and the renter-occupied share provides a meaningful base for leasing.
Against a local construction average skewing newer (2009), the property’s vintage points to value-add opportunities or selective capital improvements to strengthen competitive positioning. Demographic statistics aggregated within a 3-mile radius show recent population gains, strong household growth, and notable income increases with forward projections indicating further expansion—trends that can support tenant retention and steady absorption if operations are well managed.
- Resilient neighborhood occupancy and a sizable renter-occupied base support leasing stability.
- Housing profile and daily-needs amenities (restaurants, groceries, parks) compare well at the national level.
- 1997 vintage versus newer local stock suggests value-add or targeted capex to enhance competitiveness.
- 3-mile demographics point to population, household, and income growth that can deepen the tenant base.
- Risks: safety metrics trail national cohorts and certain amenities (pharmacies/cafés) are limited; underwriting should account for security and convenience factors.