| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 68th | Fair |
| Demographics | 29th | Fair |
| Amenities | 28th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2491 NW 135th St, Miami, FL, 33167, US |
| Region / Metro | Miami |
| Year of Construction | 1972 |
| Units | 48 |
| Transaction Date | 2012-03-07 |
| Transaction Price | $100,000 |
| Buyer | 451 FARM INC |
| Seller | OHALLARON RICHARD DOUGLAS |
2491 NW 135th St Miami Multifamily Investment
Neighborhood fundamentals point to steady renter demand and above-average occupancy for the area, according to WDSuite’s commercial real estate analysis.
Situated in an Inner Suburb of Miami-Dade, the asset benefits from a renter-occupied housing share of the neighborhood at 62.4%, indicating a deep tenant base that supports leasing velocity and renewal potential. These figures reflect neighborhood tenure patterns rather than property performance and help frame demand for multifamily units.
Day-to-day amenities are mixed: neighborhood data show strong access to childcare options (top decile nationally) and solid restaurant density (around the 80th percentile nationwide), while grocery, park, and cafe counts are comparatively thin. For family renters, average school ratings in the neighborhood trend below metro norms, which can influence unit mix strategy and retention planning.
Rent levels in the neighborhood sit above many national peers, and occupancy is above the national median, supporting expectations for stable cash flow, based on CRE market data from WDSuite. Elevated home values relative to local incomes (high national percentile for value-to-income) signal a high-cost ownership market, which tends to reinforce reliance on rental housing and can support pricing power when managed carefully.
Demographic statistics aggregated within a 3-mile radius indicate households have been expanding and incomes trending higher, even as recent population counts dipped slightly. Forecasts point to meaningful growth in both population and households through 2028, which would expand the renter pool and support occupancy stability for well-positioned assets.
The property’s 1972 vintage is slightly newer than the neighborhood’s average construction year, suggesting competitive positioning versus older stock in the immediate area; however, investors should plan for ongoing system upgrades and selective renovations to sustain rentability and support value-add execution.
Safety trends are a relative strength: neighborhood metrics index in the top quartile nationally for overall safety, and both violent and property offense rates benchmark above national averages according to WDSuite’s CRE market data. Recent year-over-year readings also show notable declines in estimated offense rates, which, if sustained, can support resident retention and broaden the prospective tenant base.
As always, safety conditions vary by micro-area and over time. Investors should align on-site measures and resident communication with local trends and management best practices.
Proximity to established corporate offices supports workforce housing demand and commute convenience, including Johnson & Johnson, Ryder System, World Fuel Services, Mosaic, and Lennar.
- Johnson & Johnson — healthcare & consumer products offices (3.5 miles)
- Ryder System — logistics & transportation corporate offices (9.2 miles) — HQ
- World Fuel Services — energy distribution corporate offices (9.3 miles) — HQ
- Mosaic — professional services corporate offices (9.5 miles)
- Lennar — homebuilding corporate offices (11.6 miles) — HQ
This 48-unit Miami asset pairs large average unit sizes with neighborhood demand drivers that historically support leasing stability. The surrounding neighborhood shows above-median occupancy and a high renter-occupied share, while elevated ownership costs relative to incomes reinforce renter reliance. According to CRE market data from WDSuite, neighborhood rent positioning is competitive nationally, and projected household growth within a 3-mile radius expands the prospective tenant base.
Built in 1972, the property should be competitive against older nearby stock but may benefit from targeted capital projects that refresh interiors, address aging systems, and capture value-add upside. Strategic management will be important where affordability pressure is present, school ratings trend lower, and amenity depth is uneven, all of which can influence retention and pricing strategy.
- Above-median neighborhood occupancy and deep renter base support leasing durability
- High-cost ownership market underpins multifamily demand and pricing power
- 1972 vintage offers value-add potential via selective renovations and system upgrades
- Forecast household growth within 3 miles broadens the tenant pool
- Risks: affordability pressure, weaker school ratings, and uneven amenity mix may affect retention