| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 69th | Fair |
| Demographics | 12th | Poor |
| Amenities | 63rd | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2370 NW 17th Ave, Miami, FL, 33142, US |
| Region / Metro | Miami |
| Year of Construction | 2009 |
| Units | 110 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
2370 NW 17th Ave Miami 110-Unit Multifamily (2009)
Neighborhood fundamentals point to durable renter demand and steady occupancy, according to WDSuite’s CRE market data, with a high share of renter-occupied units supporting leasing depth. Newer 2009 construction enhances competitive positioning versus older local stock.
This Urban Core neighborhood offers strong daily convenience: grocery access ranks among the top tier locally (7th out of 449 neighborhoods) and cafes/restaurants are also in the top quartile nationally, reinforcing walk-to-amenity appeal. Overall amenity access is competitive among Miami-Miami Beach-Kendall neighborhoods, which helps with retention and leasing velocity for multifamily assets.
On housing performance, the neighborhood occupancy is above national averages and has been stable, while the renter-occupied share is high at the neighborhood level (66.9%), signaling a deep tenant base for multifamily owners. For context, these are neighborhood metrics, not property-level results.
Ownership costs trend elevated relative to incomes (high value-to-income percentile), which typically sustains reliance on rental housing and can support pricing power. At the same time, rent-to-income levels indicate some affordability pressure, suggesting lease management and renewal strategies should be calibrated to minimize turnover risk.
Schools score at the lower end of national comparisons and parks/childcare density is limited within the neighborhood, factors that may matter for certain renter cohorts. Demographics aggregated within a 3-mile radius show household counts increased over the past five years and are projected to rise further, even as average household size trends lower—patterns that generally expand the renter pool and support occupancy stability.
Safety indicators are mixed. Relative to nationwide comparisons, the neighborhood sits below the national median for safety (crime national percentile around the 40th), and within the metro it ranks below the median (256 out of 449). Property crime benchmarks are weaker than national norms; however, both violent and property offense rates declined roughly one-fifth year over year, an improvement that is competitive among peer neighborhoods. These are neighborhood-level trends rather than block-specific conditions.
Proximity to diverse corporate employers supports a broad workforce renter base and commute convenience for residents, including Mosaic, World Fuel Services, Johnson & Johnson, Lennar, and Ryder System.
- Mosaic — corporate offices (6.3 miles)
- World Fuel Services — corporate offices (8.2 miles) — HQ
- Johnson & Johnson — corporate offices (8.5 miles)
- Lennar — corporate offices (9.3 miles) — HQ
- Ryder System — corporate offices (11.1 miles) — HQ
Built in 2009, the property is newer than much of the surrounding housing stock, which can reduce near-term capital exposure while remaining competitive against older inventory; selective modernization may still enhance positioning. The neighborhood’s high renter concentration and above-national-average occupancy support demand depth and leasing stability, while strong local amenity density (notably groceries and restaurants) adds to livability.
According to CRE market data from WDSuite, the ownership market is relatively high cost versus incomes, a backdrop that tends to sustain rental demand. Demographics aggregated within a 3-mile radius point to rising household counts and a smaller average household size over time—conditions that typically expand the renter pool and support occupancy stability. Key considerations include affordability pressures (elevated rent-to-income ratios) and mixed safety standing, which call for prudent underwriting and asset management.
- 2009 vintage provides competitive positioning versus older neighborhood stock, with potential value-add through targeted updates
- High neighborhood renter-occupied share supports a deep tenant base and leasing resilience
- Strong daily convenience from top-tier grocery and dining access aids retention
- 3-mile household growth and smaller household sizes point to renter pool expansion over the medium term
- Risks: affordability pressure (higher rent-to-income) and below-median safety require disciplined leasing and operating strategies