| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 80th | Best |
| Demographics | 16th | Poor |
| Amenities | 15th | Poor |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 12140 SW 202nd St, Miami, FL, 33177, US |
| Region / Metro | Miami |
| Year of Construction | 1974 |
| Units | 50 |
| Transaction Date | 1993-12-16 |
| Transaction Price | $612,000 |
| Buyer | CREATIVE CHOICE HOMES 6 LTD |
| Seller | FEDERAL HOME LOAN MORTGAGE CORPORATION |
12140 SW 202nd St, Miami — Multifamily Investment Positioning
Neighborhood occupancy trends sit in the top quartile nationally, according to WDSuite’s CRE market data, suggesting stable renter demand for this Miami address. Elevated ownership costs in the area further support reliance on rentals, with pricing decisions best calibrated to local income dynamics.
Located in an inner-suburb pocket of Miami (Miami–Miami Beach–Kendall metro), the neighborhood posts a D rating but shows solid multifamily fundamentals: occupancy is competitive nationally (top quartile), and renter demand is supported by a higher renter-occupied share relative to many U.S. neighborhoods. Median contract rents track in the upper national tier for similar neighborhoods, indicating the need for disciplined income-to-rent screening and lease management.
Construction year averages in the neighborhood skew to the mid‑1990s, while this asset was built in 1974. The older vintage points to potential value‑add upside through targeted renovations and systems modernization to maintain competitiveness versus the 1990s-era stock. Investors should plan capital improvements that directly enhance durability, operating efficiency, and rentability.
Amenities are mixed: cafes, groceries, and pharmacies are sparse locally, yet park access scores in the top decile nationally. Limited daily conveniences can modestly affect walk-to-amenity appeal, but strong park availability supports livability for households seeking outdoor space. School ratings in the area trend lower than many metros, which may matter for family-oriented leasing and could influence unit mix strategies.
Within a 3-mile radius, demographics show a relatively flat population recently but a notable increase in households and families, with smaller average household sizes. Forward-looking estimates indicate additional household growth, implying a larger tenant base over time and support for occupancy stability. Median home values are elevated versus national norms (high value-to-income ratios), which tends to sustain renter reliance; however, rent-to-income levels point to pockets of affordability pressure, so renewal strategies and concessions should be calibrated to retention risk.
Safety indicators for the neighborhood are mixed relative to the metro and nation. The neighborhood ranks 240 out of 449 Miami–Miami Beach–Kendall neighborhoods for crime, placing it below the metro median, and sits below the national median by percentile. That said, year-over-year trends show improvement, with property offenses declining materially and violent offense rates easing modestly, indicating directional progress rather than a definitive shift.
Investors should underwrite standard security measures and emphasize lighting, access control, and resident engagement. Framing safety in marketing should be comparative and factual, focusing on recent improvements and proximity to employment nodes rather than block-level claims.
Proximity to several regional headquarters and corporate offices supports a stable renter base, with commute-convenient access for workers in homebuilding, energy, logistics, chemicals, and healthcare.
- Lennar — homebuilding (13.7 miles) — HQ
- World Fuel Services — energy & trading (16.1 miles) — HQ
- Ryder System — logistics & transportation (20.0 miles) — HQ
- Mosaic — chemicals (23.0 miles)
- Johnson & Johnson — healthcare & pharma (23.1 miles)
This 50‑unit 1974 asset sits in a Miami inner‑suburb where neighborhood occupancy trends are top quartile nationally, supporting a case for income stability. According to CRE market data from WDSuite, the surrounding area exhibits a higher renter-occupied share than many U.S. neighborhoods and home values that are high relative to incomes, which together reinforce reliance on multifamily housing. Household growth within a 3‑mile radius and shrinking household sizes point to a broadening tenant base, though rent-to-income ratios warrant careful renewal and pricing discipline.
The vintage is older than the neighborhood’s 1990s average, suggesting clear value‑add pathways through unit renovations, curb appeal, and building systems upgrades to stay competitive against newer stock. Amenities are thin but park access is a relative strength; underwriting should account for marketing that emphasizes space, access, and commute convenience to nearby employment hubs, while acknowledging school ratings and safety positioning.
- Occupancy trends in the top quartile nationally support stable leasing and retention.
- High-cost ownership context sustains renter reliance, aiding demand depth.
- 1974 vintage creates value‑add potential through targeted renovations and systems improvements.
- 3‑mile household growth and smaller household sizes expand the tenant pool over time.
- Risks: affordability pressure (rent-to-income), below-median safety metrics, and limited daily amenities.