| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 67th | Fair |
| Demographics | 49th | Good |
| Amenities | 42nd | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 161 NW 97th Ave, Miami, FL, 33172, US |
| Region / Metro | Miami |
| Year of Construction | 1986 |
| Units | 80 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
161 NW 97th Ave Miami Multifamily Investment Outlook
Renter-occupied housing is prevalent in the surrounding neighborhood, supporting a steady tenant base even as occupancy has inched up over the past five years, according to WDSuite s CRE market data. This location a0offers exposure to Miami demand drivers while warranting disciplined lease management given local affordability pressure.
Located in Miami s Urban Core, the neighborhood carries a B- rating among 449 metro neighborhoods, indicating balanced fundamentals with selective strengths for multifamily investors. Dining and cafe density is a relative highlight restaurants and cafes register in the top quartile nationally, and are competitive among Miami-Miami Beach-Kendall neighborhoods (ranks near the top 40% of 449). Grocery access trends better than mid-pack nationally, while parks, pharmacies, and formal childcare are limited in the immediate area factors to consider for family-oriented positioning.
The housing stock skews renter-friendly: an estimated 59% of housing units are renter-occupied in the neighborhood, placing it in a high national percentile for renter concentration. For investors, that signals depth in the tenant pool and supports leasing velocity, though pricing should be calibrated to income bands. Neighborhood median contract rents sit on the higher side for the U.S. and have grown materially over five years, reinforcing demand for well-managed, functional units.
Within a 3-mile radius, households have increased even as population edged lower in recent years, pointing to smaller household sizes and a broadening renter base. Looking ahead, WDSuite s commercial real estate analysis indicates continued growth in households through the forecast period, which can expand the local tenant pool and support occupancy stability. Income distributions are diversifying toward higher brackets, which can sustain demand for quality renovations and modest amenity upgrades.
Vintage is another consideration: the property s 1986 construction is newer than the neighborhood s average 1976 vintage, suggesting relative competitive positioning versus older stock. Investors should still plan for aging-system updates or selective modernization to capture value-add upside and support retention.
Home values in the area are elevated relative to local incomes, a dynamic that often sustains reliance on rental housing. That backdrop can help underpin occupancy and lease-up, but rent-to-income ratios in the neighborhood indicate affordability pressure; operators may benefit from tiered product offerings and thoughtful renewal strategies to maintain resident retention.
Safety metrics are mixed relative to the region and nation. The neighborhood sits near the metro median among 449 Miami-Miami Beach-Kendall neighborhoods, with crime levels that track below national averages for safety. Nationally, violent and property offense rates benchmark weaker than typical U.S. neighborhoods, yet both have improved year over year, with notable declines reported in violent incidents. For investors, the direction of change is constructive, but underwriting should reflect conservative assumptions for security, lighting, and access controls.
Proximity to major employers supports workforce housing demand and commute convenience, notably across homebuilding, energy services, logistics, and healthcare products specifically Lennar, World Fuel Services, Ryder System, and Johnson & Johnson, with Mosaic further out.
- Lennar homebuilding (1.1 miles) HQ
- World Fuel Services energy & commodities (2.7 miles) HQ
- Ryder System logistics & transportation (7.0 miles) HQ
- Johnson & Johnson healthcare products (9.7 miles)
- Mosaic chemicals & fertilizer (14.6 miles)
This 1986-vintage Miami asset is positioned for durable renter demand, supported by a high neighborhood share of renter-occupied units and dining/retail density that outperforms national averages in key categories. Neighborhood occupancy has trended modestly higher in recent years, and NOI per unit in the area ranks among the stronger cohorts nationally, according to CRE market data from WDSuite a constructive backdrop for stabilized and light value-add strategies. Elevated ownership costs in the area further support reliance on multifamily housing and can aid lease-up and retention.
At the same time, rent-to-income levels point to affordability pressure, suggesting that disciplined pricing, renewal segmentation, and operational focus on resident retention will be important. Crime trends are improving but remain below national safety benchmarks, so prudent security measures should be reflected in underwriting. Household growth within a 3-mile radius is expected to expand the tenant base over the forecast horizon, supporting occupancy stability.
- Renter-heavy neighborhood supports deep tenant base and leasing velocity
- 1986 vintage offers value-add potential versus older local stock
- Strong local amenity and dining density aligns with renter preferences
- Household growth within 3 miles supports occupancy stability over time
- Risks: affordability pressure and below-average national safety metrics warrant conservative underwriting and active management