| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 69th | Fair |
| Demographics | 42nd | Fair |
| Amenities | 47th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 5311 NW 7th St, Miami, FL, 33126, US |
| Region / Metro | Miami |
| Year of Construction | 2009 |
| Units | 109 |
| Transaction Date | 2006-09-11 |
| Transaction Price | $1,100,000 |
| Buyer | PALERMO LAKES INC |
| Seller | PALERMO COVE LTD |
5311 NW 7th St Miami Multifamily Investment
Neighborhood renter-occupied share is high, supporting a deeper tenant base and steady leasing conditions, according to WDSuite’s CRE market data. Metrics cited reflect the surrounding neighborhood, not the property.
Positioned in Miami’s Urban Core, the neighborhood surrounding 5311 NW 7th St carries a B- rating and sits near the metro midpoint (rank 235 of 449 neighborhoods in the Miami-Miami Beach-Kendall region). For investors, that translates to stable but competitive fundamentals rather than a clear outlier on either end of the spectrum.
Parks and daily services are a relative strength: park access and pharmacies both benchmark in the top national percentiles, which helps with resident convenience and retention. Restaurant density also trends above many U.S. neighborhoods. By contrast, the immediate neighborhood shows limited measured grocery, café, and childcare presence, suggesting residents may rely on nearby districts for some errands—an item to consider in marketing and transportation positioning.
Rents in the neighborhood benchmark on the higher side nationally while the rent-to-income ratio indicates some affordability pressure. At the same time, the share of housing units that are renter-occupied is elevated (62.4%, top national percentile range), signaling a deep renter pool that supports demand across cycles. Neighborhood occupancy is measured at 88.7%—more middle-of-the-pack nationally—implying returns will be driven by asset-level execution and positioning rather than neighborhood lift alone.
The property’s 2009 construction is newer than the area’s average 1991 vintage, offering competitive positioning versus older stock. Newer vintage can reduce near-term capital needs and enhance curb appeal, though investors should still evaluate building systems and potential modernization to match current renter preferences. Demographic statistics aggregated within a 3-mile radius show households have grown even as population edged lower, and projections indicate further growth in household counts alongside smaller average household sizes—factors that can expand the tenant base and support occupancy stability.
Neighborhood safety indicators compare favorably at the national level: overall crime benchmarks around the 65th percentile nationally (safer than many U.S. neighborhoods), while violent offenses are around the 58th percentile. Property offenses are closer to the national midpoint. Importantly, recent trend data points to a one-year decline in both violent and property offenses, which can bolster resident satisfaction and leasing momentum over time.
These figures describe broader neighborhood conditions rather than block-level risk, and they should be paired with property-specific security measures and management practices during due diligence.
Nearby corporate offices anchor a diversified employment base that supports renter demand and commute convenience, including World Fuel Services (energy logistics), Lennar (homebuilding), Johnson & Johnson (healthcare products), Ryder System (transportation and logistics), and Mosaic (chemicals/fertilizer).
- World Fuel Services — energy logistics (5.0 miles) — HQ
- Lennar — homebuilding (5.41 miles) — HQ
- Johnson & Johnson — healthcare products (8.67 miles)
- Ryder System — transportation & logistics (8.88 miles) — HQ
- Mosaic — chemicals/fertilizer (10.25 miles)
This 109-unit, 2009-vintage asset competes favorably against an area average vintage of 1991, positioning it ahead of older stock on systems and appeal while still warranting targeted updates as part of a value-preservation plan. In the surrounding neighborhood, the share of housing units that are renter-occupied is elevated, indicating a deep tenant base that can support leasing and renewal activity. Neighborhood occupancy trends are more middle-of-the-pack, so performance will hinge on asset execution, pricing, and management rather than outsized submarket tailwinds. According to CRE market data from WDSuite, ownership costs in the area are comparatively high relative to incomes, which helps sustain reliance on multifamily rentals.
Demographic statistics aggregated within a 3-mile radius show recent growth in household counts with smaller average household sizes, and projections call for further household growth over the next five years—signals of a larger tenant base even as overall population trends are mixed. Rising household incomes and projected rent increases reinforce long-term revenue potential, while the neighborhood’s strong park and service access supports resident satisfaction. Investors should balance these positives against affordability pressure (rent-to-income) and amenity gaps within the immediate neighborhood when shaping unit mix, amenities, and leasing strategy.
- 2009 vintage outcompetes older local stock, with targeted upgrades to enhance positioning
- Elevated renter-occupied share indicates a deep tenant base supporting demand
- 3-mile household growth and smaller sizes suggest renter pool expansion and leasing depth
- Ownership costs vs. income support continued reliance on multifamily rentals
- Risks: affordability pressure (rent-to-income), mid-pack occupancy, and limited immediate grocery/café options