| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 73rd | Good |
| Demographics | 42nd | Fair |
| Amenities | 61st | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 3941 SW 89th Ave, Miami, FL, 33165, US |
| Region / Metro | Miami |
| Year of Construction | 1995 |
| Units | 20 |
| Transaction Date | 1994-11-29 |
| Transaction Price | $294,000 |
| Buyer | PHOENIX MANOR INC |
| Seller | DIAZ RAMON |
3941 SW 89th Ave, Miami Multifamily Investment
Neighborhood occupancy has been resilient and the asset’s 1995 vintage positions it competitively versus older local stock, according to WDSuite’s CRE market data. The high-cost ownership landscape nearby helps sustain renter demand and supports stable leasing fundamentals.
Located in an inner-suburban pocket of Miami-Miami Beach-Kendall (B+ neighborhood rating), the area is competitive among metro peers, ranking 159 out of 449 neighborhoods. Dining and daily services are a relative strength, with restaurants and pharmacies scoring in the top decile nationally, while cafes are also above average; however, immediate access to grocery stores and parks is limited, which may temper walkability expectations.
For investors tracking stability, the neighborhood s occupancy is 95.5% (neighborhood metric, not the property) and sits above the national median. Renter-occupied housing represents 40.8% of units locally (above the national share), indicating a deeper tenant base to support multifamily demand and retention across cycles.
The property s 1995 construction is newer than the neighborhood s average 1972 vintage, enhancing competitive positioning versus older inventory; that said, nearly 30-year-old systems may warrant targeted modernization to optimize rents and operating efficiency.
Within a 3-mile radius, households have expanded even as population edged lower over the past five years, pointing to smaller household sizes and a gradually diversifying renter pool. Forward-looking projections indicate additional household growth alongside rising incomes, which supports occupancy stability and measured rent growth for appropriately positioned units, based on commercial real estate analysis from WDSuite.
Home values rank in the top quintile nationally and value-to-income is high among U.S. neighborhoods, signaling a high-cost ownership market. This tends to reinforce reliance on rental housing and can strengthen pricing power, while a moderate rent-to-income profile suggests manageable affordability pressure that supports lease retention.
Safety indicators for the neighborhood are near the metro median (ranked 224 out of 449 Miami-area neighborhoods) and trend below the national median. Recent year-over-year declines in both violent and property offense rates suggest gradual improvement, but investors should still plan for standard risk mitigation and property-level security measures consistent with inner-suburban Miami assets.
Proximity to major employers supports commuter convenience and a durable renter base, with nearby offices spanning homebuilding, energy and logistics, as well as healthcare and agricultural inputs. The following anchors are within practical driving distances and can underpin leasing stability.
- Lennar homebuilding (3.4 miles) HQ
- World Fuel Services energy & transportation services (5.3 miles) HQ
- Ryder System logistics & fleet management (9.6 miles) HQ
- Johnson & Johnson healthcare (12.0 miles)
- Mosaic agriculture & chemicals (14.5 miles)
This 20-unit, 1995-vintage asset in Miami s inner suburbs benefits from neighborhood occupancy above the national median and a renter-occupied share that supports depth of demand. Elevated ownership costs in the area tend to sustain reliance on multifamily housing, while the property s newer vintage relative to local stock offers a platform for selective modernization to drive rent and operating upside.
Within a 3-mile radius, households have increased and are expected to expand further, creating a larger tenant base even as average household size declines. Based on CRE market data from WDSuite, the neighborhood ranks competitive within the metro and shows improving safety trends, supporting steady leasing with prudent risk management.
- Occupancy (neighborhood metric) above national median supports leasing stability.
- 1995 construction offers competitive positioning vs. older area stock with value-add modernization potential.
- High-cost ownership market reinforces renter demand and pricing power.
- 3-mile households growing and projected to expand, enlarging the renter pool.
- Risks: limited immediate grocery/park access and safety near metro median warrant standard security and amenity strategy.