| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 68th | Fair |
| Demographics | 81st | Best |
| Amenities | 46th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2905 NE 190th St, Miami, FL, 33180, US |
| Region / Metro | Miami |
| Year of Construction | 1995 |
| Units | 24 |
| Transaction Date | 2003-10-03 |
| Transaction Price | $843,800 |
| Buyer | VENAVENTURA LLC |
| Seller | INVESTURA LLC |
2905 NE 190th St Miami Multifamily Investment
Positioned in Miami’s Urban Core, the property benefits from strong renter demand drivers and high-income households, according to WDSuite’s CRE market data. Neighborhood occupancy metrics reflect broader area dynamics rather than the property itself, suggesting investors should prioritize tenant retention and leasing strategy.
This Miami–Miami Beach–Kendall neighborhood rates A- and ranks 92 of 449 locally, indicating competitive fundamentals within the metro. Amenity access is above the metro median (restaurants and parks test in the upper national percentiles), while day-to-day needs are supported by solid grocery density; cafés and pharmacies are less concentrated, so conveniences are mixed rather than comprehensive.
Housing and demographic indicators point to a capable renter base. Educational attainment sits in a high national percentile, and the 3-mile radius shows a sizable share of renter-occupied housing units—supportive of depth for multifamily demand and lease-up resilience. Median home values are elevated versus national norms, which tends to sustain reliance on rentals and can aid pricing power when combined with income growth trends.
Compared with national CRE trends, local rents benchmark toward the high end and the area’s household incomes measure above the national median, reinforcing the case for professionally managed product. That said, reported neighborhood housing occupancy trails most of the metro’s 449 neighborhoods; investors should underwrite around competitive supply and potential seasonality, not the property’s operations. For multifamily property research, these dynamics translate into a market where demand depth exists but discipline on affordability and renewals is prudent, based on WDSuite’s CRE market data.
Safety indicators compare less favorably to national benchmarks, and the neighborhood ranks below the metro median among 449 Miami–Miami Beach–Kendall neighborhoods. Even so, recent year-over-year trends show declines in both violent and property offense rates, suggesting conditions have been improving rather than deteriorating. As with any urban-core location, investors should consider standard measures for on-site security and lighting, and align underwriting with submarket-level trend data rather than block-specific assumptions.
The area draws on a diverse corporate employment base that supports renter demand and commute convenience for residents, including roles in corporate services and healthcare administration. Employers below reflect nearby corporate offices and headquarters that can underpin leasing stability.
- Mosaic — corporate offices (9.8 miles)
- Johnson & Johnson — corporate offices (10.3 miles)
- AutoNation — corporate offices (11.6 miles) — HQ
- Ryder System — corporate offices (16.3 miles) — HQ
- World Fuel Services — corporate offices (16.5 miles) — HQ
The investment thesis centers on demand depth supported by a sizable renter pool within a 3-mile radius, high educational attainment, and elevated home values that reinforce rental reliance. Restaurants, parks, and grocery access score well on national comparisons, which helps with resident satisfaction and retention. According to CRE market data from WDSuite, neighborhood housing occupancy trends lag the broader metro, so asset performance will hinge on disciplined leasing, renewal management, and product positioning.
Forward-looking household and income projections point to a larger, higher-earning tenant base over the next several years, which can support rent growth for well-managed assets. At the same time, rent-to-income ratios and premium rent levels call for careful affordability monitoring and amenity calibration to sustain occupancy stability.
- Demand depth: sizable 3-mile renter-occupied share supports leasing and renewal visibility
- Location fundamentals: nationally strong restaurant, park, and grocery access aid retention
- Income trajectory: rising household incomes expand the qualified renter pool
- Pricing power potential: elevated ownership costs sustain reliance on rentals
- Risks: below-metro housing occupancy and affordability pressure require disciplined lease management