| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 73rd | Good |
| Demographics | 55th | Good |
| Amenities | 48th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 350 NW 4th St, Miami, FL, 33128, US |
| Region / Metro | Miami |
| Year of Construction | 2011 |
| Units | 90 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
350 NW 4th St Miami Multifamily — 2011 Build
Neighborhood renter concentration is high and helps support demand even as occupancy runs moderate, according to WDSuite’s CRE market data. Newer vintage positioning provides a competitive edge versus older nearby stock.
Located in Miami’s Urban Core, the property benefits from a neighborhood rated B+ (ranked 161 out of 449 in the Miami-Miami Beach-Kendall metro), which is competitive among metro neighborhoods. The area skews strongly renter-occupied, indicating a deep tenant base for multifamily leasing.
Amenity access is mixed: parks and restaurants score among the highest nationally (parks and dining density are in the upper national percentiles), while everyday retail such as groceries, pharmacies, and cafes is comparatively limited within the immediate neighborhood. For investors, this blend suggests lifestyle draws that aid leasing, with some reliance on nearby districts for daily needs.
At the neighborhood level, occupancy is measured at 87.9%, signaling stable but not tight conditions; combined with an estimated 81% share of renter-occupied housing units, the tenant pool is sizable and supports ongoing absorption and renewals. The property’s 2011 construction compares favorably to the neighborhood’s older average vintage (1982), pointing to fewer near-term capital systems needs and stronger competitive positioning versus legacy assets.
Demographic indicators aggregated within a 3-mile radius point to population growth over the last five years and a larger increase in households, with forecasts calling for continued household expansion and smaller average household size. This trajectory aligns with renter pool expansion and supports occupancy stability and lease-up velocity for well-positioned units.
Ownership costs in the neighborhood are elevated relative to many U.S. areas, which reinforces reliance on multifamily rentals and can bolster pricing power. At the same time, neighborhood rent-to-income levels indicate some affordability pressure, suggesting attention to renewal management and unit-mix strategy.
Safety metrics for the neighborhood are below metro averages, with crime ranking 352 out of 449 Miami-Miami Beach-Kendall neighborhoods. Nationally, the area sits in lower safety percentiles; however, recent data shows improvement in violent offense rates year over year, indicating a positive directional trend.
For investors, the takeaway is to underwrite with conservative assumptions, consider security features and lighting as resident amenities, and monitor ongoing trends rather than relying on block-level anecdotes.
Proximity to corporate offices supports commuter convenience and renter demand, with nearby employers spanning energy, homebuilding, healthcare, and logistics. The list below reflects key offices within practical drive times likely to influence leasing and retention.
- Mosaic — corporate offices (5.4 miles)
- World Fuel Services — corporate offices (9.9 miles) — HQ
- Johnson & Johnson — corporate offices (10.6 miles)
- Lennar — corporate offices (10.6 miles) — HQ
- Ryder System — corporate offices (13.1 miles) — HQ
This 90-unit asset, built in 2011, is competitively positioned against an older neighborhood stock, which can reduce near-term capital exposure while supporting renter appeal. Neighborhood occupancy is moderate, but a high share of renter-occupied housing units and elevated ownership costs point to durable multifamily demand and steady leasing fundamentals, based on CRE market data from WDSuite.
Within a 3-mile radius, recent population growth, an outsized increase in households, and forecasts for further household gains with smaller household sizes suggest a growing renter base. Elevated home values reinforce reliance on rentals and can support pricing, while neighborhood rent-to-income levels argue for thoughtful renewal strategies and product differentiation to manage retention risk.
- 2011 vintage relative to older local stock supports competitive positioning and lowers near-term system capex risk
- Strong renter-occupied share in the neighborhood underpins depth of tenant demand
- 3-mile household growth and smaller projected household sizes signal renter pool expansion and support occupancy stability
- Mixed amenity profile (strong parks/dining, lighter daily retail) favors lifestyle appeal but may require coordinated resident services
- Risk: moderate neighborhood occupancy and rent-to-income pressure call for conservative underwriting and renewal management