| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 69th | Fair |
| Demographics | 42nd | Fair |
| Amenities | 47th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 295 NW 57th Ave, Miami, FL, 33126, US |
| Region / Metro | Miami |
| Year of Construction | 2008 |
| Units | 32 |
| Transaction Date | 2004-03-29 |
| Transaction Price | $680,000 |
| Buyer | SIP STREET ASSOC LLC |
| Seller | R & E AT RED ROAD INC |
295 NW 57th Ave Miami Multifamily Investment
Neighborhood renter-occupied share is elevated and the 2008 vintage offers competitive positioning versus older local stock, according to WDSuite’s CRE market data. While neighborhood occupancy trends sit below the metro median, sustained renter demand supports a pragmatic value-add or stabilization thesis informed by commercial real estate analysis.
Located in Miami’s Urban Core, the property benefits from strong local renter dynamics: the neighborhood’s share of renter-occupied housing units is in the top decile nationally, signaling depth in the tenant base and support for leasing velocity. By contrast, neighborhood occupancy levels rank below the metro median (364 out of 449), underscoring the importance of active leasing and asset management to sustain performance.
Quality-of-life amenities are mixed but investable. Park and open-space access ranks competitively among 449 Miami metro neighborhoods (26th), placing the area in the top quartile nationally, and pharmacies are similarly abundant (40th of 449; also top quartile nationally). Restaurant density is above national norms (87th percentile), while café and grocery density inside the neighborhood core is limited, suggesting residents rely on nearby commercial corridors for certain conveniences.
The housing stock skews newer than much of the metro: the average neighborhood construction year is 1991, and a 2008 property is newer than typical surrounding inventory—supporting relative competitiveness versus older assets, while still warranting mid-life system updates as part of capital planning.
Within a 3-mile radius, household counts have increased even as population trends have been flat to slightly negative, pointing to smaller household sizes and a broader renter pool. Forward-looking data indicate continued growth in households and higher incomes, which can support occupancy stability and rent collections if paired with careful affordability management.
Home values sit near national mid-range levels but, relative to incomes, the area trends toward a higher value-to-income ratio (upper-national percentile), which can reinforce reliance on rental housing and support retention. Median contract rents track above national norms (around the 80th percentile), so operators should balance pricing power with rent-to-income considerations to mitigate turnover risk.
Safety indicators are mixed in comparative terms. Relative to the Miami-Miami Beach-Kendall metro, the neighborhood’s crime rank is 34 out of 449, placing it in a higher-crime cohort locally. Nationally, however, the area sits around the upper-mid percentile for safety, and both property and violent offenses show meaningful year-over-year declines, according to CRE market data from WDSuite. For investors, this suggests risk that can be managed with standard security measures and operations, while monitoring trend direction rather than any single-year snapshot.
Proximity to major corporate employers supports commuter convenience and a durable renter base, notably in energy, homebuilding, logistics, healthcare, and diversified corporates reflected below.
- World Fuel Services — energy & logistics (4.9 miles) — HQ
- Lennar — homebuilding corporate offices (5.1 miles) — HQ
- Ryder System — transportation & logistics (8.9 miles) — HQ
- Johnson & Johnson — healthcare offices (8.9 miles)
- Mosaic — diversified corporate offices (10.6 miles)
The investment case centers on durable renter demand, competitive vintage, and accessible regional employment. The asset’s 2008 construction is newer than the neighborhood’s average 1991 vintage, which can reduce near-term capital intensity versus older comparables while still calling for mid-life upgrades to building systems and common areas. A high neighborhood share of renter-occupied units points to a deep tenant base, even as neighborhood occupancy trails the metro median—favoring hands-on leasing and revenue management to capture demand. According to CRE market data from WDSuite, household growth and income gains within a 3-mile radius support steady absorption, provided operators calibrate rents to local rent-to-income realities.
Positioning near multiple headquarters and corporate nodes bolsters weekday occupancy and retention, while a value-to-income profile that trends high for ownership reinforces reliance on rental housing. Elevated national-percentile rents indicate room for disciplined pricing, but they also underscore the need for renewal strategies that protect retention and limit concessions through service quality and targeted upgrades.
- 2008 vintage vs. older local stock supports competitive positioning with manageable mid-life capex planning
- Strong renter-occupied share indicates depth of tenant base and leasing stability potential
- Household and income growth within 3 miles support absorption and collections over time
- Proximity to multiple headquarters enhances commute convenience and retention
- Risks: neighborhood occupancy below metro median and rent-to-income pressure require active pricing and renewal management