| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 73rd | Good |
| Demographics | 55th | Good |
| Amenities | 48th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 400 NW 3rd Ct, Miami, FL, 33128, US |
| Region / Metro | Miami |
| Year of Construction | 2000 |
| Units | 48 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
400 NW 3rd Ct, Miami — Urban-Core Multifamily Positioning
Workforce-oriented demand in Miami 9s urban core supports leasing durability, according to WDSuite 9s CRE market data, with renter depth and ownership costs shaping pricing power over the cycle.
Located at 400 NW 3rd Ct in Miami 9s Urban Core, this 48-unit asset sits near dense employment and entertainment nodes that sustain multifamily demand. Neighborhood amenities skew toward dining—restaurant density ranks near the top of the metro and in the 98th percentile nationally—while immediate access to groceries, pharmacies, and cafes is comparatively limited within the neighborhood boundary. Parks are a relative strength, also in the 98th percentile nationally, adding livability for residents.
Construction year is 2000, newer than the neighborhood 9s average 1982 vintage. That positioning can help the property compete against older stock, though systems at this age may warrant targeted modernization or value-add improvements to meet today 9s renter expectations and support rent growth.
Neighborhood occupancy is measured at the neighborhood level and sits below the metro leaders, suggesting that active leasing management remains important. At the same time, renter concentration is high: approximately 81% of housing units in the neighborhood are renter-occupied, indicating a large tenant base and steady turnover that supports ongoing demand for apartments.
Within a 3-mile radius, demographics point to an expanding renter pool. Population has grown in recent years and is projected to increase further by 2028, with households rising substantially and average household size trending smaller—dynamics that typically support unit absorption and occupancy stability. Median household incomes have climbed, and the local homeownership market carries elevated values relative to national norms, which reinforces reliance on multifamily housing and can aid lease retention for well-positioned assets.
Affordability bears monitoring: neighborhood rent-to-income readings indicate some pressure relative to national benchmarks. For investors, that argues for balanced renewal strategies and measured renovation scopes, using amenity-led improvements that justify pricing while sustaining retention.
Safety indicators for the neighborhood trail national norms, placing the area below the metro median among 449 Miami-Miami Beach-Kendall neighborhoods. That said, recent trend data is mixed-to-improving: estimated violent offenses declined year over year, while property offenses showed a modest decrease. For investors, this suggests monitoring sub-block variations and leaning on professional management practices that support resident confidence and lease stability.
Proximity to major corporate offices underpins renter demand through commute convenience and a broad white-collar employment base, including Mosaic, World Fuel Services, Johnson & Johnson, Lennar, and Ryder System.
- Mosaic — corporate offices (5.4 miles)
- World Fuel Services — energy logistics (9.9 miles) — HQ
- Johnson & Johnson — healthcare products (10.5 miles)
- Lennar — homebuilding (10.6 miles) — HQ
- Ryder System — logistics & transportation (13.1 miles) — HQ
This urban-core Miami property combines a large renter base with relative vintage advantage. Built in 2000 against a neighborhood average year of 1982, it should compete effectively with older stock while offering clear, targeted value-add pathways (unit interior refreshes and common-area upgrades) to enhance retention and rent positioning. According to CRE market data from WDSuite, the surrounding neighborhood shows strong restaurant and park access, high renter-occupied share, and an ownership market with elevated home values—factors that help sustain multifamily demand even as leasing performance varies across blocks.
Within a 3-mile radius, population and household counts have increased and are projected to continue rising through 2028, with smaller household sizes supporting demand for apartments. Affordability signals point to some rent-to-income pressure, so prudent renovation scopes and renewal strategies should balance pricing power with lease stability.
- Newer 2000 vintage versus neighborhood average, with selective modernization upside
- High neighborhood renter concentration supports a deep tenant base
- Elevated ownership costs nearby reinforce multifamily demand and retention
- Strong restaurant and park access enhances livability and leasing appeal
- Risks: below-metro safety standing, uneven immediate retail access, and affordability pressure requiring disciplined lease management