| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 68th | Fair |
| Demographics | 25th | Poor |
| Amenities | 62nd | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 611 NW 177th St, Miami, FL, 33169, US |
| Region / Metro | Miami |
| Year of Construction | 1972 |
| Units | 24 |
| Transaction Date | 2014-01-30 |
| Transaction Price | $6,050,000 |
| Buyer | WEST GARDENS VILLAS LTD |
| Seller | DANCEA GEORGE |
611 NW 177th St Miami Multifamily Investment
Positioned in Miami s Urban Core, the asset benefits from a renter base supported by rising household counts and a high-cost ownership landscape, according to WDSuite s CRE market data. Neighborhood demand is reinforced by strong everyday amenities and proximity to major employers, with scope for value-add given the submarket s competitive rental dynamics.
This Urban Core location balances daily convenience with accessibility. Neighborhood amenities index above national norms, with restaurants, groceries, and cafes scoring in the 89th C93rd national percentiles, according to WDSuite s CRE market data. Park and pharmacy access are limited locally, so resident convenience relies more on private services and nearby retail corridors than greenspace.
For investors, the neighborhood s renter concentration is meaningful: roughly half of housing units are renter-occupied, which signals a deeper tenant base and supports leasing continuity. At the same time, neighborhood occupancy near the national midpoint suggests competitive positioning will matter for retention and lease-up.
Homeownership costs in the area skew high relative to incomes (value-to-income nationally in the low 90s percentile), which typically sustains reliance on rental housing. Neighborhood median contract rents sit above national medians (mid-70s percentile), pointing to pricing power tempered by resident affordability management. Lease strategies should acknowledge rent-to-income pressures while leveraging the area s service density.
Demographic statistics within a 3-mile radius show population growth over the last five years and a notable increase in households alongside smaller average household sizes. Forward-looking projections indicate further gains in households, which expands the renter pool and supports occupancy stability if product quality and management remain competitive.
Vintage and investment angle: Built in 1972, the property is older than the neighborhood s average 1981 vintage. That profile often supports a value-add plan focused on interior updates and selective systems modernization to improve competitive standing against newer stock while managing capital expenditures.
Safety trends are mixed. Nationally, the neighborhood aligns slightly above the median for overall safety (around the low-50s percentile), with property offenses benchmarking stronger (top-quartile nationally) and violent offenses also testing favorably versus many U.S. neighborhoods (low-70s percentile), based on WDSuite s data. Within the Miami metro, however, crime ranks closer to the higher-crime end (around 104 out of 449 neighborhoods), so submarket positioning should be evaluated at the street-by-street level during diligence.
Year-over-year signals show volatility, including a recent uptick in violent incidents, even as property-related offenses trended lower. Investors should underwrite to operational measures (lighting, access control, and resident engagement) and monitor citywide policing and neighborhood initiatives when assessing long-term risk and insurance assumptions.
The property draws from a diversified set of nearby corporate offices that support a broad workforce renter base and commute convenience, including Johnson & Johnson, Mosaic, Ryder System, World Fuel Services, and AutoNation.
- Johnson & Johnson healthcare products corporate offices (5.9 miles)
- Mosaic fertilizer & chemicals corporate offices (10.3 miles)
- Ryder System transportation & logistics corporate offices (11.9 miles) HQ
- World Fuel Services energy services corporate offices (12.5 miles) HQ
- AutoNation automotive retail corporate offices (13.2 miles) HQ
611 NW 177th St is a 24-unit, 1972-vintage asset positioned to serve a renter-heavy Urban Core pocket of Miami. Household growth within a 3-mile radius and above-median neighborhood rents indicate depth of demand, while an older vintage creates a practical path for revenue-improving renovations and systems upgrades. According to multifamily property research from WDSuite, high ownership costs relative to incomes in the area tend to sustain reliance on rental housing, supporting occupancy when product quality is competitive.
Key considerations include resident affordability management and localized safety trends. Amenity density is a positive driver for retention, though limited parks/pharmacy access and metro-relative crime positioning warrant prudent operating practices, insurance review, and targeted property-level enhancements.
- Renter depth supported by household growth within 3 miles and above-median neighborhood rents
- 1972 vintage offers value-add upside through interior refresh and selective systems modernization
- High-cost ownership context reinforces sustained reliance on multifamily rentals
- Amenity-rich setting (food, grocery, cafes) supports leasing and retention
- Risks: affordability pressure, limited parks/pharmacy access, and crime-trend volatility require active management