| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 73rd | Good |
| Demographics | 55th | Good |
| Amenities | 48th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 642 NW 5th Ave, Miami, FL, 33136, US |
| Region / Metro | Miami |
| Year of Construction | 2010 |
| Units | 34 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
642 NW 5th Ave Miami Multifamily Investment
Renter demand is supported by a high neighborhood renter-occupied share and expanding 3‑mile households, according to WDSuite’s CRE market data.
Positioned in Miami’s Urban Core, the property benefits from a renter-driven neighborhood and a broader 3‑mile trade area where households have been increasing and are projected to grow further, indicating a larger tenant base and potential support for occupancy stability. These demographic statistics are aggregated within a 3‑mile radius.
Livability signals skew urban: restaurants are dense (top national tier), parks are plentiful (top national tier), while immediate cafe, grocery, and pharmacy options are limited in the neighborhood. For investors, this mix suggests strong lifestyle draws nearby with some day-to-day retail needs met just outside the immediate blocks.
Tenure trends are favorable for multifamily: the neighborhood shows a high share of renter-occupied housing units, and within 3 miles renters comprise a substantial portion of occupied units. This depth of renter concentration supports leasing velocity and renewal prospects for professionally managed assets.
Home values in the neighborhood are elevated relative to incomes, and the region’s value-to-income ratio ranks among the highest nationally. In practice, a high-cost ownership market tends to sustain rental demand, though higher rent-to-income levels warrant attentive lease management to mitigate retention risk.
Neighborhood occupancy is on the softer side versus many metro peers, which places a premium on differentiated product, professional operations, and accurate pricing. Still, the area’s steady population and household growth within 3 miles indicate an expanding renter pool that can underpin absorption, based on CRE market data from WDSuite.
Safety conditions in the neighborhood are mixed. Overall crime benchmarks sit below the national median, but recent data show a meaningful year-over-year decline in estimated violent offenses. This improving trend suggests incremental stabilization, though investors should underwrite with conservative assumptions and monitor localized patterns at the submarket level.
Commuter access to a diversified white-collar base helps support renter demand and lease retention, with proximity to Mosaic, World Fuel Services, Johnson & Johnson, Lennar, and Ryder System.
- Mosaic — corporate offices (5.45 miles)
- World Fuel Services — corporate offices (9.69 miles) — HQ
- Johnson & Johnson — corporate offices (10.33 miles)
- Lennar — corporate offices (10.39 miles) — HQ
- Ryder System — corporate offices (12.87 miles) — HQ
Built in 2010, the asset is newer than much of the surrounding housing stock, offering competitive positioning versus older inventory while leaving room for targeted modernization over the hold to support rentability. The neighborhood skews renter-heavy and the 3‑mile area shows population growth and a notable increase in households, pointing to a larger tenant base and potential support for occupancy over time.
Elevated ownership costs locally tend to reinforce reliance on multifamily housing, which can aid leasing and pricing power when managed carefully. At the same time, neighborhood occupancy trends are softer and rent-to-income levels indicate affordability pressure for some households, so disciplined revenue management and product differentiation will be important, based on CRE market data from WDSuite.
- 2010 vintage relative to older neighborhood stock supports competitive leasing with selective value-add upside
- Renter-heavy neighborhood and expanding 3‑mile households indicate depth of tenant demand
- Elevated home values versus incomes tend to sustain multifamily demand and retention
- Risk: softer neighborhood occupancy and higher rent-to-income levels require precise underwriting and active lease management