| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 77th | Best |
| Demographics | 89th | Best |
| Amenities | 98th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 395 NE 21st St, Miami, FL, 33137, US |
| Region / Metro | Miami |
| Year of Construction | 1979 |
| Units | 36 |
| Transaction Date | 1994-06-25 |
| Transaction Price | $825,000 |
| Buyer | AIRRAS GROUP INC |
| Seller | REPUBLIC NATL BK MIAMI |
395 NE 21st St Miami Multifamily Value-Add Opportunity
Amenity-rich Urban Core location supports renter demand, while neighborhood occupancy trends run softer than national norms, according to WDSuite’s CRE market data.
Situated in Miami’s Urban Core, the immediate neighborhood offers exceptional daily convenience—restaurants and groceries rank in the top tier nationally by density, and parks and pharmacies are also strong. This amenity depth underpins leasing interest and reduces friction for residents who prioritize walkable options and short trips for essentials.
Neighborhood metrics indicate elevated median rents and above-average household incomes compared with many U.S. neighborhoods, reinforcing purchasing power for market-rate units. Home values are high for the area, suggesting a high-cost ownership market that can sustain multifamily demand and bolster lease retention for well-positioned properties.
Tenure patterns point to a durable renter base. Within a 3-mile radius, a substantial share of housing units are renter-occupied, indicating depth in the tenant pool and ongoing demand for professionally managed apartments. Population and household counts in the 3-mile area have grown and are projected to expand further, with smaller average household sizes—factors that generally support occupancy stability and consistent leasing velocity.
The asset’s 1979 vintage is older than the neighborhood’s more recent average construction year. For investors, this can translate into value-add potential through selective renovations, systems upgrades, and repositioning to compete with newer stock while managing capital plans prudently.
Safety indicators for the neighborhood track below national averages and trend weaker than many parts of the Miami-Miami Beach-Kendall metro. The neighborhood’s crime ranking places it toward the lower end among 449 metro neighborhoods, and national percentiles indicate comparatively higher reported incidents than typical U.S. neighborhoods.
Recent year-over-year changes show modest increases in both property and violent offense rates. Investors should underwrite with conservative assumptions for security enhancements and tenant experience measures, and benchmark against submarkets that show stronger comparative safety trends.
Proximity to corporate employment anchors supports renter demand and retention through commute convenience. Nearby employers include Mosaic, Johnson & Johnson, World Fuel Services, Lennar, and Ryder System—all within a range that aligns with urban workforce housing dynamics.
- Mosaic — corporate offices (4.2 miles)
- Johnson & Johnson — corporate offices (10.0 miles)
- World Fuel Services — corporate offices (10.4 miles) — HQ
- Lennar — corporate offices (11.4 miles) — HQ
- Ryder System — corporate offices (13.2 miles) — HQ
395 NE 21st St sits in a high-amenity Miami Urban Core location that supports renter appeal and leasing velocity. The 1979 vintage is older than the area’s average stock and may offer a clear value-add path through interior refreshes and targeted building-system updates to improve competitive positioning against newer deliveries.
Neighborhood occupancy trends are softer than national norms, which argues for disciplined underwriting and asset management. Even so, a large renter-occupied housing base within a 3-mile radius, growing local households, high-cost ownership dynamics, and access to major employers underpin a durable tenant pool. According to CRE market data from WDSuite, the area’s income profile and amenity density compare favorably to many U.S. neighborhoods, supporting long-term rental demand if the asset is competitively positioned.
- Urban Core location with top-tier dining, grocery, and park access supports leasing appeal
- 1979 vintage presents value-add and modernization upside relative to newer neighborhood stock
- Large renter-occupied base within 3 miles and projected household growth expand the tenant pool
- High-cost ownership market favors renter reliance, aiding retention and pricing power
- Risk: neighborhood safety and softer occupancy trends warrant conservative lease-up and capex planning