| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 71st | Fair |
| Demographics | 41st | Fair |
| Amenities | 46th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 301 NW 47th Ave, Miami, FL, 33126, US |
| Region / Metro | Miami |
| Year of Construction | 1989 |
| Units | 24 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
301 NW 47th Ave Miami 24-Unit Multifamily Investment
Renter-occupied housing is above the metro median and ownership costs are elevated for the neighborhood, supporting steady renter demand, according to WDSuite’s CRE market data. Neighborhood occupancy trends are around the low-90s, suggesting stable leasing conditions rather than outsized volatility.
This Urban Core neighborhood in Miami carries a B- rating and ranks around the metro midpoint (241 of 449), pointing to balanced but competitive fundamentals for a 24-unit asset at 301 NW 47th Ave. Neighborhood occupancy runs near 91%, roughly in line with national norms, which indicates demand consistency without clear signs of oversupply pressure.
Renter concentration is top quartile among 449 metro neighborhoods (58.7% of housing units are renter-occupied), providing a deeper tenant base for multifamily. Median rents sit above national norms (national percentile ~73), while the neighborhood’s high-cost ownership profile (home values around the 72nd percentile nationally and a value-to-income ratio near the 96th percentile) tends to sustain reliance on multifamily housing and can support lease retention and pricing power. These dynamics are based on CRE market data from WDSuite.
Daily-needs access is a relative strength: grocery availability is competitive (about the 90th percentile nationally) and restaurants are plentiful (around the 87th percentile). However, immediate access to parks, pharmacies, and cafes is limited, which may slightly reduce lifestyle appeal for some renter cohorts. Average school ratings trend below national norms, which could narrow the pool of households prioritizing top-tier K–12 options.
Within a 3-mile radius, households have grown and are projected to continue expanding alongside smaller average household sizes, implying more households even as population growth remains modest. This combination typically supports a larger renter pool and occupancy stability for well-positioned multifamily properties.
Neighborhood safety indicators track close to the metro middle, competitive among Miami-Miami Beach-Kendall neighborhoods (crime rank 180 of 449). Compared with neighborhoods nationwide, the area sits near the mid range (around the 45th percentile for overall crime), suggesting conditions that investors often underwrite as average rather than outlier.
Recent trend signals are constructive: estimated violent offenses declined year over year (with improvement trending in the upper third nationally), and property offenses also moved lower on a year-over-year basis. While crime can vary block to block, these directional shifts are useful context for underwriting and retention planning.
Proximity to established corporate employers supports commute convenience and broadens the renter pool, particularly for workforce and professional tenants. Nearby anchors include World Fuel Services, Lennar, Johnson & Johnson, Ryder System, and Mosaic.
- World Fuel Services — energy & logistics (5.7 miles) — HQ
- Lennar — homebuilding (6.1 miles) — HQ
- Johnson & Johnson — healthcare & consumer products (9.0 miles)
- Ryder System — logistics & transportation (9.5 miles) — HQ
- Mosaic — chemicals & materials (9.6 miles)
Built in 1989, the property is newer than the neighborhood’s average vintage, which can enhance competitive positioning versus older stock while still warranting capital planning for system updates and modernization. A high renter-occupied share and a high-cost ownership landscape help underpin demand depth and lease retention, while neighborhood occupancy trends near the low-90s suggest stable utilization rather than volatility, based on CRE market data from WDSuite.
Access to daily needs (notably groceries and dining) and proximity to multiple corporate anchors bolster leasing prospects for workforce and professional tenants. Key underwriting considerations include elevated rent-to-income ratios in the neighborhood, below-average school ratings, and limited immediate park and cafe access—factors that may influence tenant mix and pricing power. Overall, the commercial real estate analysis points to durable renter demand with measured value-add or modernization upside for a 24-unit asset at this location.
- 1989 vintage offers relative competitiveness versus older stock, with potential upside from targeted modernization
- High renter concentration and elevated ownership costs support demand depth and lease retention
- Neighborhood occupancy around the low-90s indicates stable utilization rather than outsized volatility
- Grocery and dining access plus proximity to major employers supports workforce leasing
- Risks: elevated rent-to-income ratios, below-average schools, and limited parks/cafes may temper pricing power