| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 63rd | Poor |
| Demographics | 28th | Poor |
| Amenities | 79th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 6445 NW 2nd Ave, Miami, FL, 33150, US |
| Region / Metro | Miami |
| Year of Construction | 1972 |
| Units | 21 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
6445 NW 2nd Ave Miami Multifamily Investment
Renter demand is reinforced by an amenity-dense urban core and a high share of renter-occupied housing in the surrounding neighborhood, according to WDSuite’s CRE market data. For investors, this points to depth of the tenant base with pricing set against local affordability and retention considerations.
The property sits in an Urban Core pocket of Miami with strong daily-life convenience: restaurants, cafes, parks, and grocery options score in the top quartile nationally, while pharmacy access is comparatively limited. Neighborhood school ratings trend below national norms, which can influence household mix and demand for smaller units but does not preclude stable workforce housing demand.
Neighborhood occupancy is below the metro median among 449 Miami-area neighborhoods, and the area skews heavily toward renter-occupied housing (about 73% of units). For multifamily property research, this renter concentration supports a broad leasing funnel and helps sustain absorption, though active leasing management remains important given occupancy variability.
Within a 3-mile radius, demographics point to a growing renter pool: population and household counts have risen in recent years and are projected to continue increasing, with smaller average household sizes over time. This combination typically expands the tenant base and supports occupancy stability and lease-up velocity for well-positioned properties.
Median home values in the neighborhood are elevated relative to local incomes, and the value-to-income ratio sits near 9. In practice, a high-cost ownership market can sustain reliance on multifamily rentals and support pricing power, while rent-to-income levels suggest monitoring affordability pressure and lease retention.
Vintage context: the neighborhood’s average construction year skews mid-20th century, while this asset was built in 1972. That makes the property newer than much of the surrounding stock, which can aid competitive positioning; investors should still underwrite ongoing system upgrades and targeted modernization to capture value-add upside.
Safety indicators for the neighborhood trail both metro and national benchmarks. Relative to 449 Miami-area neighborhoods, the area performs below the metro median, and national percentiles indicate weaker standing on both violent and property offense measures.
That said, recent trend data shows improvement: estimated violent offense rates and property offense rates both declined over the last year, placing these reductions above many peer neighborhoods nationwide. Investors typically translate this into careful asset and operations planning (lighting, access control, resident engagement) while noting the directional improvement when assessing tenant retention and insurance assumptions.
Proximity to major corporate offices helps support workforce renter demand and commute convenience for residents, led by Mosaic, Johnson & Johnson, World Fuel Services, Lennar, and Ryder System.
- Mosaic — corporate offices (5.1 miles)
- Johnson & Johnson — corporate offices (7.7 miles)
- World Fuel Services — corporate offices (9.8 miles) — HQ
- Lennar — corporate offices (11.3 miles) — HQ
- Ryder System — corporate offices (11.8 miles) — HQ
This 21-unit, 1972-vintage Miami asset is positioned in an amenity-rich Urban Core neighborhood with a large renter base and a homeownership market characterized by elevated values relative to incomes. Based on commercial real estate analysis supported by WDSuite’s data, these fundamentals point to durable renter demand and potential pricing power, tempered by affordability management and day-to-day leasing execution.
Renter-occupied share is high in the immediate neighborhood, and 3-mile demographic trends indicate an expanding household count and a gradual shift toward smaller households—factors that typically broaden the tenant funnel and support occupancy stability. The 1972 vintage suggests ongoing capital planning and targeted renovations can unlock value relative to older nearby stock, while investors should underwrite for safety perceptions, school quality, and retention risk tied to rent-to-income levels.
- Amenity-dense Urban Core location supports daily convenience and leasing velocity.
- Large renter base and growing 3-mile household counts expand the tenant pool and support occupancy.
- 1972 vintage offers value-add potential versus older neighborhood stock with prudent CapEx planning.
- Elevated ownership costs reinforce sustained demand for rentals and potential pricing power.
- Risks: below-metro safety metrics, lower school ratings, and affordability pressure requiring proactive lease management.