| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 78th | Best |
| Demographics | 29th | Poor |
| Amenities | 82nd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1219 NW 2nd St, Miami, FL, 33125, US |
| Region / Metro | Miami |
| Year of Construction | 1979 |
| Units | 30 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
1219 NW 2nd St, Miami — Urban-Core Multifamily
Neighborhood fundamentals point to durable renter demand and high occupancy stability, according to WDSuite’s CRE market data; these are neighborhood indicators, not property performance. Positioned in Miami’s urban core, the asset benefits from amenity depth and a large renter base that supports consistent leasing.
Located in Miami’s Urban Core, the area surrounding 1219 NW 2nd St offers strong day-to-day convenience with dense grocery, pharmacy, and dining options ranking in the upper percentiles nationally, based on WDSuite’s commercial real estate analysis. This amenity concentration typically supports leasing velocity and resident retention for workforce and lifestyle renters.
Neighborhood occupancy is high and has trended upward over the past five years, indicating stable demand at the neighborhood level rather than for this specific property. The local renter-occupied share is substantial, providing depth to the tenant base and reducing reliance on in-migration for lease-up.
Within a 3-mile radius, population and household counts have grown in recent years, with households projected to expand further by 2028. A larger pool of households and a slight shift toward smaller average household sizes generally supports multifamily absorption and occupancy stability.
Home values in the neighborhood are elevated relative to incomes, which tends to reinforce reliance on multifamily rentals and can support pricing power. At the same time, rent-to-income levels suggest some affordability pressure for tenants, warranting disciplined lease management and renewal strategies.
Amenity access is a strength, but park availability is limited locally. School options in the immediate area are mixed. For a 1979 vintage asset, investors may find competitive positioning against older nearby stock, though selective modernization can further improve appeal and operating efficiency.
Crime conditions are best viewed in a relative context. The neighborhood’s overall safety profile sits near the national midpoint, per WDSuite’s data, and is competitive among Miami neighborhoods (449 total) rather than top-tier. Recent year-over-year declines in both property and violent offenses indicate improving trends, which can support leasing stability, but underwriting should still account for typical urban-core risk management.
Proximity to Miami’s employment base supports renter demand via short commutes to corporate offices. Nearby anchors include Mosaic, World Fuel Services, Lennar, Johnson & Johnson, and Ryder System, providing a mix of energy, homebuilding, healthcare, and logistics roles that help sustain a broad tenant pool.
- Mosaic — corporate offices (6.3 miles)
- World Fuel Services — energy & corporate services (9.0 miles) — HQ
- Lennar — homebuilding corporate offices (9.6 miles) — HQ
- Johnson & Johnson — healthcare corporate offices (10.2 miles)
- Ryder System — logistics & transportation corporate offices (12.4 miles) — HQ
This 30-unit, 1979-vintage asset benefits from Miami urban-core dynamics: high neighborhood occupancy, dense amenities, and a large renter pool. Elevated ownership costs in the surrounding area tend to sustain multifamily demand, while recent population and household growth within 3 miles expands the prospective tenant base. According to CRE market data from WDSuite, neighborhood occupancy trends remain strong versus national benchmarks, supporting an income-focused hold with operational upside through targeted upgrades.
Investor considerations include rent-to-income levels that point to some affordability pressure, limited nearby park access, and an urban safety profile near the national midpoint. Selective renovations (systems, interiors, and common areas) can enhance competitiveness against older local stock while maintaining focus on retention and disciplined renewal management.
- High neighborhood occupancy and strong amenity access support leasing stability
- Large, growing renter pool within 3 miles underpins demand and retention
- 1979 vintage offers value-add potential via selective modernization
- Elevated ownership costs reinforce reliance on multifamily housing
- Risks: tenant affordability pressure, limited parks, and urban safety near national midpoint