| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 79th | Best |
| Demographics | 29th | Poor |
| Amenities | 0th | Poor |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 20900 NW 14th Pl, Miami, FL, 33169, US |
| Region / Metro | Miami |
| Year of Construction | 2003 |
| Units | 24 |
| Transaction Date | --- |
| Transaction Price | $2,371,700 |
| Buyer | EM VILLAS LLC |
| Seller | VILLAS DEL LAGO LTD |
20900 NW 14th Pl Miami 24-Unit Multifamily
Neighborhood occupancy and renter concentration point to durable leasing fundamentals, according to WDSuite’s CRE market data. The location favors stabilized cash flow over amenity-driven premiums in this part of Miami.
The property sits within Miami’s Urban Core where neighborhood occupancy trends are in the top quartile among 449 metro neighborhoods and in the top decile nationally, per WDSuite. A high share of renter-occupied housing units in the neighborhood (renter concentration) signals a deep tenant base that can support steady absorption and renewal activity for multifamily.
Average construction vintage in the neighborhood is 1990, while this property was built in 2003. The newer vintage can provide a competitive position versus older local stock, though investors should still plan for mid-life system upgrades or selective modernization to sustain positioning.
Local amenity density is limited (few immediate cafes, groceries, restaurants, or parks within the neighborhood), so the thesis leans on workforce housing dynamics rather than walkable retail. That said, home values in the neighborhood sit in a higher national percentile relative to incomes, which often sustains reliance on rental options and can support retention and pricing power for well-maintained assets.
Within a 3-mile radius, WDSuite indicates modest recent population growth with projections for additional growth and a notable increase in households over the next five years. A larger household base and slightly smaller average household size point to an expanding renter pool that can support occupancy stability. Median contract rents in the neighborhood are competitive for Miami, while rent-to-income ratios suggest some affordability pressure—an important consideration for lease management and renewal strategies.
Safety indicators show mixed signals depending on the comparison set. The neighborhood ranks 28th out of 449 metro neighborhoods for overall crime, placing it in a less favorable cohort locally. However, national comparisons are stronger: both violent and property offense rates sit in high national percentiles (top decile), indicating comparatively safer conditions versus many U.S. neighborhoods, based on WDSuite’s analysis.
Recent year-over-year estimates show modest declines in both violent and property offense rates, which suggests incremental improvement. Investors should underwrite with neighborhood-level context in mind and align security, lighting, and management practices to resident expectations.
Proximity to regional corporate offices provides a broad employment base that supports renter demand and retention, particularly for workforce housing. Nearby employers include Johnson & Johnson, AutoNation, Ryder System, Mosaic, and World Fuel Services.
- Johnson & Johnson — corporate offices (6.1 miles)
- AutoNation — corporate offices (11.8 miles) — HQ
- Ryder System — corporate offices (11.9 miles) — HQ
- Mosaic — corporate offices (12.6 miles)
- World Fuel Services — corporate offices (13.3 miles) — HQ
Built in 2003 with 24 units, the asset is relatively newer than the neighborhood average and positioned to compete against older local stock. Neighborhood occupancy trends rank in the top quartile among 449 metro neighborhoods and in the top decile nationally, supporting an underwriting case for stable tenancy. According to CRE market data from WDSuite, high renter-occupied share in the neighborhood underscores depth of demand, while limited immediate amenity density suggests the story is workforce housing and value preservation rather than premium rent capture.
Within a 3-mile radius, population has grown modestly and households are projected to increase further, expanding the tenant base and supporting occupancy over time. Ownership costs relative to incomes are elevated by national standards, reinforcing reliance on multifamily housing, though neighborhood rent-to-income ratios indicate affordability pressure that warrants careful renewal management and prudent rent setting.
- Occupancy strength: top quartile locally and top decile nationally support leasing stability.
- Demand depth: high neighborhood renter concentration aligns with steady absorption and renewals.
- Competitive vintage: 2003 construction offers positioning versus older stock with targeted modernization.
- Expanding tenant base: 3-mile forecasts point to more households and a broader renter pool.
- Risks: limited amenity density, local safety variability, and rent-to-income pressure call for disciplined operations.