| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 79th | Best |
| Demographics | 49th | Good |
| Amenities | 95th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1575 NW 19th Ter, Miami, FL, 33125, US |
| Region / Metro | Miami |
| Year of Construction | 1987 |
| Units | 41 |
| Transaction Date | 2006-04-10 |
| Transaction Price | $983,400 |
| Buyer | 1575 TERRACE APARTMENTS LLC |
| Seller | LA TERRAZA CONDOMINIUM I LLC |
1575 NW 19th Ter, Miami Multifamily Investment
Neighborhood fundamentals point to a deep renter pool and solid occupancy characteristics, according to CRE market data from WDSuite. Urban-core amenity access supports leasing velocity while ownership costs in Miami sustain reliance on rentals.
Rated A and ranked 26th of 449 neighborhoods in the Miami-Miami Beach-Kendall metro, the area around 1575 NW 19th Ter is competitive among Miami neighborhoods. Amenity access is a standout: neighborhood amenity availability ranks 10th of 449 and sits in the top decile nationally, with strong densities of restaurants, groceries, pharmacies, parks, and cafes supporting daily convenience and walkable lifestyles that tend to favor renter demand.
Neighborhood occupancy is 93.5% (neighborhood-level, not property-specific) and has trended upward over the past five years, indicating leasing stability relative to many urban core submarkets. Renter-occupied share is high locally (neighborhood-level), signaling a deep tenant base that can support absorption and retention for mid-size assets. Home values score in a high national percentile, reflecting a high-cost ownership market that often reinforces rental demand and pricing power for well-managed properties.
Within a 3-mile radius, demographic data show a growing tenant base: recent years saw population and households increase, with projections calling for continued population growth and a notable increase in households by 2028. A shift toward smaller average household sizes suggests more individual households entering the market, which can broaden the renter pool and support occupancy stability for multifamily assets.
The property’s 1987 vintage is slightly older than the neighborhood’s average construction year (1990). For investors, that typically implies underwriting for selective capital improvements or value-add renovations to enhance competitive positioning against newer stock, especially as amenity-rich urban locations attract demand. Insights here are grounded in multifamily property research and supported by WDSuite’s CRE market data.
Affordability dynamics merit attention: neighborhood rent-to-income ratios run elevated, which can create lease management considerations. However, the combination of high renter concentration, strong amenity access, and steady neighborhood occupancy supports a durable demand backdrop in Miami’s Urban Core.
Safety indicators in this neighborhood track weaker than many parts of the metro and below national norms. The neighborhood’s crime rank is 436th of 449 metro neighborhoods, indicating higher reported crime levels relative to the metro. Nationally benchmarked data place the area in a low safety percentile, though recent property offense trends show a modest year-over-year decline, suggesting some improvement.
Investors typically account for this with prudent operational planning—such as lighting, access control, and resident engagement—while weighing location advantages like amenity access and renter demand. As always, property-level due diligence, time-of-day site visits, and consultation with local stakeholders are recommended to understand block-level dynamics and trend direction.
Proximity to established corporate employers supports a diversified employment base and commuter convenience for renters. Nearby anchors include Mosaic, World Fuel Services, Johnson & Johnson, Lennar, and Ryder System.
- Mosaic — corporate offices (6.3 miles)
- World Fuel Services — corporate offices (8.3 miles) — HQ
- Johnson & Johnson — corporate offices (8.9 miles)
- Lennar — corporate offices (9.3 miles) — HQ
- Ryder System — corporate offices (11.4 miles) — HQ
This 41-unit, 1987-vintage asset benefits from a renter-heavy, amenity-rich urban location where neighborhood occupancy has been resilient and trending upward. High ownership costs in the immediate area support reliance on multifamily housing, while strong park, grocery, and restaurant densities aid retention and leasing velocity. According to CRE market data from WDSuite, the neighborhood ranks among the stronger performers in the metro, reinforcing the case for durable tenant demand.
Demographics aggregated within a 3-mile radius indicate recent growth in population and households, with projections for continued household expansion through 2028—supportive of a larger tenant base over time. Given the 1987 vintage, thoughtful capital planning or targeted value-add can sharpen competitive positioning versus newer stock, especially as smaller household sizes and urban convenience continue to attract renters.
- Renter-heavy neighborhood and steady occupancy backdrop support leasing stability.
- High-cost ownership market reinforces rental demand and pricing power potential.
- Urban amenity density (parks, groceries, restaurants) aids absorption and retention.
- 1987 vintage offers value-add potential with targeted CapEx to compete with newer assets.
- Risks: below-metro safety metrics and elevated rent-to-income ratios require proactive leasing and operations.