| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 75th | Good |
| Demographics | 27th | Poor |
| Amenities | 76th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 11695 NW 2nd St, Miami, FL, 33172, US |
| Region / Metro | Miami |
| Year of Construction | 1992 |
| Units | 24 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
11695 NW 2nd St Miami Multifamily Investment
Neighborhood fundamentals point to durable renter demand and high occupancy stability, according to WDSuite’s CRE market data. With strong amenity density and a renter-occupied housing base, the area supports steady leasing for multifamily assets.
Situated in Miami’s Urban Core, the neighborhood shows leasing resilience, with neighborhood occupancy in the top quartile among 449 metro neighborhoods and strong standing nationally. Renter-occupied housing comprises a sizable share of local units, also ranking top quartile within the metro, which signals a deep tenant base and supports renewal velocity for professionally managed multifamily.
Amenity access is a clear advantage for residents: cafes (top 2–3% nationally), restaurants (top 5%), and grocery stores (upper tier nationally) are prevalent, alongside parks and pharmacies that each sit around the upper decile nationally. Childcare options are comparatively limited in the immediate area. These location fundamentals help sustain day-to-day convenience and underpin leasing competitiveness.
On costs and rents, neighborhood median contract rents track in the mid‑70s national percentile, while home value-to-income ratios sit around the mid‑70s percentile nationally as well. In investor terms, this is a high‑cost ownership market relative to incomes, which tends to reinforce reliance on rental housing and can support pricing power when managed carefully.
Demographic statistics within a 3‑mile radius show households increasing even as population edges lower, reflecting smaller household sizes and a broader distribution of renters. Household counts are projected to continue rising over the next five years, pointing to a larger tenant base and demand support for professionally managed apartments, even as population totals trend down.
Vintage context matters: the neighborhood’s average construction year skews to the early 1980s, while the subject property’s 1992 vintage is newer than the local average. This typically improves competitive positioning versus older stock, while still leaving room for targeted modernization and systems upgrades to capture value‑add upside.
Safety indicators present a mixed but improving picture. Within the Miami metro, the neighborhood sits in a higher‑crime cohort (ranked 25th out of 449 by crime rank), yet nationally the area’s safety positioning is above average based on multiple indicators. Year over year, violent‑offense estimates show a notable decline, with improvement among the strongest nationally, and property‑offense estimates have also eased.
For investors, the takeaway is risk that should be underwritten at the metro‑relative level, balanced by improving trends and above‑average national percentiles. Operators often address this with active on‑site management and lighting/access controls to support resident comfort and retention.
Proximity to major corporate offices supports commuter convenience and a stable renter pool. Nearby anchors include Lennar, World Fuel Services, Ryder System, Johnson & Johnson, and Mosaic — a mix of homebuilding, energy logistics, transportation, healthcare, and industrials that diversifies local employment drivers.
- Lennar — homebuilding (1.0 miles) — HQ
- World Fuel Services — energy & fuel logistics (3.3 miles) — HQ
- Ryder System — transportation & logistics (6.7 miles) — HQ
- Johnson & Johnson — healthcare & consumer products (10.6 miles)
- Mosaic — fertilizers & chemicals (16.5 miles)
This 24‑unit, 1992‑vintage asset is positioned in a renter‑oriented Miami neighborhood where occupancy is strong and amenity density is a competitive advantage. The property’s vintage is newer than the local average, suggesting relative appeal versus older stock while leaving room for targeted renovations to enhance unit finishes and building systems. According to CRE market data from WDSuite, the neighborhood posts top‑quartile occupancy and a high renter concentration within the metro, reinforcing demand depth for multifamily.
Within a 3‑mile radius, households have been increasing despite a modest population decline, and forecasts call for continued household growth — conditions that can expand the renter pool and support occupancy stability. Ownership remains a high‑cost path relative to incomes in this area, which typically sustains reliance on rental housing and can aid pricing power. Key risks include metro‑relative safety considerations and rent‑to‑income pressure that call for attentive lease management and measured renewal strategies.
- Occupancy and renter concentration rank among the stronger cohorts in the Miami metro, supporting lease‑up and retention.
- 1992 vintage offers competitive positioning versus older neighborhood stock with actionable value‑add/modernization upside.
- Amenity‑rich location (food, grocery, parks, pharmacies) enhances resident convenience and rentability.
- 3‑mile household growth and a high‑cost ownership landscape reinforce multifamily demand and pricing discipline.
- Risks: metro‑relative safety positioning and rent‑to‑income pressure require active management of renewals and expenses.