| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 71st | Fair |
| Demographics | 41st | Fair |
| Amenities | 46th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 550 NW 51st Ave, Miami, FL, 33126, US |
| Region / Metro | Miami |
| Year of Construction | 1972 |
| Units | 44 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
550 NW 51st Ave Miami Multifamily Investment
Located in Miami’s urban core, this 44-unit asset sits in a renter-heavy neighborhood where occupancy has held near the low-90s according to WDSuite’s CRE market data. The combination of steady renter demand and an ownership market with elevated home values supports durable income with mindful attention to affordability.
The property is situated in an Urban Core neighborhood of the Miami–Miami Beach–Kendall metro area that rates B- overall and is competitive among local options. Neighborhood occupancy is measured for the area, not the property, and currently trends around the low-90s, supporting stable leasing for workforce-oriented apartments. A majority of housing units are renter-occupied (near six in ten), indicating a deep tenant base that can help sustain demand through cycles.
Daily needs are well served by nearby grocers and a strong restaurant presence, while cafes and parks are less concentrated locally. Average school ratings in the area trend below national norms, which may be a consideration for family renters, but access to central Miami job nodes helps many households prioritize commute convenience.
Relative cost dynamics favor rentals: neighborhood home values sit in higher national percentiles while typical contract rents are above the national midpoint. In practical terms, a high-cost ownership market can reinforce renter reliance on multifamily housing, though elevated rent-to-income ratios introduce retention risk that calls for thoughtful lease management rather than aggressive pushes.
Within a 3-mile radius, demographics show a modest population decline alongside growth in total households and smaller average household sizes. For investors, that mix points to a larger renter pool over time—more one- and two-person households entering or remaining in the rental market—which can support occupancy stability and measured rent growth, consistent with patterns highlighted in multifamily property research.
Safety conditions are mixed relative to peers. The neighborhood ranks 180 out of 449 metro neighborhoods on crime, indicating higher-than-metro-median incident levels, and it sits below the national midpoint by percentile. That said, recent trends show improvement: estimated violent and property offenses declined year over year, placing the area near the middle of national improvement rates. Investors should underwrite to neighborhood-level trends and consider property-level measures that support resident comfort.
Nearby corporate anchors provide a diversified employment base and support renter demand through commute convenience. Key employers within roughly 10 miles include World Fuel Services, Lennar, Johnson & Johnson, Ryder System, and Mosaic.
- World Fuel Services — energy services (5.3 miles) — HQ
- Lennar — homebuilding (5.7 miles) — HQ
- Johnson & Johnson — healthcare products offices (8.8 miles)
- Ryder System — logistics & transportation (9.1 miles) — HQ
- Mosaic — agribusiness offices (10.0 miles)
This infill Miami location benefits from a renter-occupied housing base and neighborhood occupancy around the low-90s, supporting steady leasing for a 44-unit community. According to commercial real estate analysis from WDSuite, the area’s high-cost ownership landscape, coupled with contract rents above the national midpoint, points to durable renter reliance on multifamily—balanced by the need to manage rent-to-income pressures to support retention.
Within a 3-mile radius, households are increasing even as population edges down, signaling smaller household sizes and a gradually expanding renter pool. Amenity access favors daily needs and dining, while schools rate below national norms—factors that suggest stable workforce housing demand with prudent underwriting for affordability and resident experience.
- Renter-occupied concentration and low-90s neighborhood occupancy support leasing stability
- Infill Miami location near diversified employers underpins demand and retention
- High-cost ownership market strengthens renter reliance, offering pricing power with measured pushes
- Growing household counts within 3 miles indicate a gradually expanding renter pool
- Risks: elevated rent-to-income ratios and below-average school ratings warrant disciplined lease and capex planning