| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 75th | Good |
| Demographics | 27th | Poor |
| Amenities | 76th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 11491 NW 2nd St, Miami, FL, 33172, US |
| Region / Metro | Miami |
| Year of Construction | 1992 |
| Units | 24 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
11491 NW 2nd St Miami Multifamily Investment
Stable neighborhood occupancy and strong renter concentration suggest durable cash flow potential, according to WDSuite’s CRE market data. Positioned in Miami’s urban core, the asset benefits from amenity density and proximity to major employers that support year-round leasing.
Located in Miami’s Urban Core, the property sits in a neighborhood rated B+ with occupancy that is competitive among Miami–Miami Beach–Kendall neighborhoods (rank 106 of 449). Amenity access is a differentiator: cafes and restaurants measure in the upper tiers nationally, while groceries, parks, and pharmacies register in the top quartile, supporting day-to-day convenience and resident retention.
For investors, renter demand is reinforced by a high share of renter-occupied housing at the neighborhood level, indicating a deep tenant base. Median contract rents in the immediate area have grown over the past five years, and the neighborhood’s rent-to-income profile implies some affordability pressure to monitor, which can influence renewal strategies and pricing power.
Within a 3-mile radius, households have increased even as average household size edged lower, expanding the pool of leasing prospects. Looking forward, WDSuite data indicates additional household growth is expected alongside higher median incomes, which supports leasing velocity and potential rent resilience even through economic cycles.
Home values in the neighborhood reflect a high-cost ownership market relative to incomes, which tends to sustain reliance on multifamily rentals and can aid lease retention. The property’s 1992 vintage is newer than the neighborhood’s average construction year, offering a competitive edge versus older stock while still warranting selective modernization planning for building systems.
Safety indicators in the neighborhood compare favorably to many U.S. areas, and recent trends point to improvement. Violent-offense estimates have declined year over year, and property-offense measures show moderation, according to WDSuite’s CRE market data.
At the metro level, results vary block to block in Miami’s Urban Core, so prudent underwriting should assume typical urban management practices: lighting, access control, and coordination with local community resources to support resident satisfaction and retention.
Nearby corporate offices provide a broad employment base that supports renter demand and commute convenience, notably in homebuilding, energy logistics, and transportation. The following employers are within a practical commute and can help stabilize leasing.
- Lennar — homebuilding (0.9 miles) — HQ
- World Fuel Services — energy & logistics (3.3 miles) — HQ
- Ryder System — transport & logistics (6.7 miles) — HQ
- Johnson & Johnson — healthcare & consumer products (10.6 miles)
- Mosaic — fertilizer & mining (16.4 miles)
This 24-unit, 1992-vintage asset benefits from a renter-heavy neighborhood, strong amenity access, and proximity to multiple corporate headquarters—factors that support occupancy stability and day-to-day leasing. The vintage is newer than the neighborhood average, which can position the property competitively versus older stock while still leaving room for targeted value-add to modernize interiors and building systems.
Neighborhood-level occupancy is competitive within the Miami–Miami Beach–Kendall metro, and household counts within a 3-mile radius are expanding with higher projected incomes—dynamics that point to a larger tenant base and potential rent resilience, based on CRE market data from WDSuite. Investors should balance these strengths against elevated rent-to-income ratios by emphasizing renewal management and product differentiation.
- Renter-heavy neighborhood and strong amenity density support sustained leasing
- 1992 vintage offers competitive positioning versus older stock with selective value-add upside
- Proximity to multiple corporate HQs underpins tenant demand and retention
- Metro-competitive occupancy and projected household growth support income stability
- Risk: Elevated rent-to-income ratios call for careful renewal and pricing strategies