| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 71st | Fair |
| Demographics | 41st | Fair |
| Amenities | 46th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 181 NW 47th Ave, Miami, FL, 33126, US |
| Region / Metro | Miami |
| Year of Construction | 2007 |
| Units | 20 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
181 NW 47th Ave Miami 20-Unit Multifamily Investment
Neighborhood-level occupancy sits near the national middle while renter concentration is elevated, signaling a broad tenant base, according to WDSuite’s CRE market data. Newer construction relative to area norms supports competitive positioning and potential rent capture without relying on heavy lease-up risk.
The property’s Urban Core location carries a B- neighborhood rating within the Miami-Miami Beach-Kendall metro. Neighborhood occupancy is 91.0% (neighborhood-level, not property-specific) and ranks around the metro midpoint among 449 neighborhoods, pointing to steady baseline demand rather than dependence on outsized lease-up velocity.
Renter-occupied housing accounts for a higher share of units in this neighborhood (58.7%), placing it in the top quartile nationally for renter concentration. For investors, that depth typically supports leasing continuity and a wider renewal funnel, especially during typical turnover seasons.
Daily convenience is supported by strong grocery access (competitive nationally) and a higher restaurant density (upper deciles), while parks, pharmacies, and cafes are thinner in the immediate area. Average school ratings trend below national norms, which can matter for certain renter segments, but proximity to childcare options is comparatively strong. Overall amenity mix is service-forward rather than lifestyle-driven.
Within a 3-mile radius, households have increased in recent years and are projected to expand further, with household sizes trending smaller. Coupled with rising incomes and rent levels, this points to ongoing multifamily demand and potential pricing power, though operators should calibrate rents and concessions to manage affordability pressure. Elevated home values relative to local incomes indicate a high-cost ownership market, which tends to reinforce reliance on rental housing.
Construction in the surrounding area skews older (average vintage 1975 across the metro’s neighborhoods). Built in 2007, this property is newer than much of the nearby stock, which can aid competitiveness versus older assets; investors should still plan for mid-life system updates or targeted common-area refreshes to sustain positioning.
Safety indicators are mixed but show recent improvement. The neighborhood’s overall crime standing sits around the metro midpoint (ranked 180 out of 449 metro neighborhoods), suggesting conditions that are neither outlier-high nor low for Miami’s Urban Core context.
Compared with neighborhoods nationwide, violent and property offense measures track below the national median, yet recent year-over-year declines in both violent and property offense estimates indicate directional improvement. Investors should underwrite standard urban safety protocols and monitor ongoing trend lines rather than relying on block-level assumptions.
Proximity to major employers supports commuter convenience and broad renter demand, led by energy/logistics, homebuilding, healthcare products, transportation & logistics, and industrials/chemicals represented nearby.
- World Fuel Services — energy & logistics (5.8 miles) — HQ
- Lennar — homebuilding (6.1 miles) — HQ
- Johnson & Johnson — healthcare products (9.1 miles)
- Ryder System — transportation & logistics (9.6 miles) — HQ
- Mosaic — industrials & chemicals (9.6 miles)
This 20-unit, 2007-vintage asset offers relative competitiveness versus older neighborhood stock while benefiting from a renter-heavy housing base and metro-scale employment depth. Neighborhood occupancy sits near the national middle, and, according to CRE market data from WDSuite, renter concentration is high for the area—factors that generally support stable leasing and renewal pipelines. Within a 3-mile radius, rising incomes and a projected increase in households alongside smaller household sizes point to a gradually expanding renter pool, supporting occupancy stability over a longer hold.
The Urban Core amenity mix is service-oriented (strong grocery and restaurant access) but lighter on parks and cafes; school ratings trail national averages. Elevated ownership costs relative to incomes tend to sustain reliance on multifamily housing, though operators should account for rent-to-income affordability pressure when setting renewal strategies and managing concessions. As a mid-2000s asset, the property may warrant targeted modernization of systems and common areas to preserve its competitive edge against both older stock and newer deliveries.
- Newer 2007 vintage versus older local stock supports competitive positioning with manageable value-add pathways
- High neighborhood renter concentration and metro-level employment diversity underpin a broad tenant base
- 3-mile household growth and smaller household sizes indicate continuing multifamily demand and renewal depth
- Elevated ownership costs reinforce rental reliance, aiding pricing power with careful lease management
- Risks: affordability pressure (high rent-to-income), below-average school ratings, and lighter lifestyle amenities require calibrated underwriting