| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 69th | Fair |
| Demographics | 12th | Poor |
| Amenities | 63rd | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2421 NW 10th Ave, Miami, FL, 33127, US |
| Region / Metro | Miami |
| Year of Construction | 2002 |
| Units | 24 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
2421 NW 10th Ave Miami Multifamily Investment
Positioned in Miami s urban core with a sizable renter base and historically steady neighborhood occupancy, according to WDSuite s CRE market data. The 2002 vintage offers competitive positioning versus older nearby stock while allowing room for targeted upgrades.
This Miami Urban Core location benefits from dense daily conveniences grocery access is abundant and dining/caf options are strong, placing the area competitive among the 449 Miami-Miami Beach-Kendall neighborhoods for amenities. Parks and formal childcare options are limited within the immediate neighborhood, which may skew appeal more toward adults and working households than families with young children.
Neighborhood occupancy is in the upper range relative to many U.S. neighborhoods, supporting leasing stability for multifamily. At the neighborhood level, renter-occupied housing is the majority, indicating a deep tenant base; within a 3-mile radius, renter concentration is even higher, reinforcing demand depth and potential resilience in lease-up and retention.
Within a 3-mile radius, population has grown recently and households have expanded at a faster pace, while average household size has trended smaller. For investors, that points to a larger tenant base and more lease prospects per capita, which can help support occupancy. Median contract rents have risen in recent years and are projected to continue increasing, aligning with sustained renter demand.
Home values in the neighborhood are elevated relative to local incomes (high value-to-income readings), which tends to sustain reliance on rental housing and can support pricing power for well-positioned assets. Use this as context in your commercial real estate analysis rather than a guarantee ownership costs simply reinforce the role of multifamily in this submarket.
Safety indicators for the neighborhood track below national averages (lower national percentiles indicate comparatively higher crime), so underwriting should account for condition, lighting, and on-site management practices that support resident comfort. That said, WDSuite s CRE market data shows property and violent offense rates declining by roughly 20% year over year, an encouraging directional trend to monitor over additional periods.
Relative comparisons are more decision-useful than block-level reads: consider how this neighborhood stacks up against other Miami-Miami Beach-Kendall areas in your target rent band and unit mix, and whether recent downward trends hold through future reporting cycles.
The broader employment base includes corporate offices across energy, healthcare, homebuilding, and logistics, supporting commuter demand and leasing retention for workforce and market-rate units. The list below highlights nearby employers that help anchor regional job density.
- Mosaic corporate offices (5.6 miles)
- Johnson & Johnson corporate offices (8.9 miles)
- World Fuel Services corporate offices (9.0 miles) HQ
- Lennar homebuilding (10.0 miles) HQ
- Ryder System logistics & fleet management (11.8 miles) HQ
- AutoNation automotive retail (22.4 miles) HQ
Built in 2002, the property is newer than much of the surrounding housing stock, offering competitive positioning versus older assets while leaving room for focused value-add upgrades to exteriors, common areas, or systems over time. Neighborhood-level occupancy trends are solid and the area skews renter-heavy, with a 3-mile radius showing population growth and faster household growth a setup that supports a larger tenant base and potential occupancy stability. According to CRE market data from WDSuite, area rents have been rising and are projected to continue, which can support revenue growth if paired with disciplined expense control and pragmatic capital planning.
Elevated ownership costs relative to local incomes help sustain reliance on rental housing, while proximity to a diverse set of corporate employers supports leasing durability across economic cycles. Key underwriting considerations include measured safety performance relative to national percentiles and limited parks/childcare density in the immediate neighborhood, which may influence the resident mix and amenity strategy.
- 2002 vintage offers competitive positioning versus older neighborhood stock with targeted value-add potential
- Renter-heavy area and expanding 3-mile household base support tenant demand and occupancy stability
- Rising and projected rent levels, per WDSuite data, underpin revenue growth opportunities
- Diverse corporate employers within commuting range aid leasing durability and retention
- Risks: below-average safety percentiles and limited parks/childcare in the immediate area may affect resident profile and amenity needs