| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 65th | Poor |
| Demographics | 50th | Good |
| Amenities | 24th | Poor |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 645 Ives Dairy Rd, Miami, FL, 33179, US |
| Region / Metro | Miami |
| Year of Construction | 1982 |
| Units | 92 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
645 Ives Dairy Rd Miami Multifamily Investment Outlook
Neighborhood renter concentration is elevated and occupancy has trended upward, supporting demand stability near the Miami–Dade/Broward line, according to WDSuite’s CRE market data.
Situated in Miami’s Urban Core, the area around 645 Ives Dairy Rd shows renter-occupied housing share above most neighborhoods in the metro, indicating a deeper tenant base for multifamily. Neighborhood occupancy has moved higher over the past five years, which can support steadier cash flows through cycles.
On livability, restaurant and grocery access score above national medians (restaurants and grocers each rank competitively among the metro’s 449 neighborhoods), while cafes, parks, childcare, and pharmacies are less prevalent within neighborhood boundaries. Investors should underwrite resident reliance on nearby corridors for certain amenities but can still position the asset to capture daily-needs traffic.
Vintage matters: the property was built in 1982, a bit newer than the neighborhood’s average stock from the late 1970s. That positioning can be competitive versus older buildings, though investors should plan for modernization of aging systems and targeted common-area upgrades to support leasing and renewals.
Within a 3-mile radius, population and household counts have grown and are projected to continue increasing, with forecasts also pointing to smaller average household sizes by 2028. This trajectory suggests a larger tenant base and ongoing demand for rental units. Neighborhood-level rents sit above the national median and have grown meaningfully over five years, reinforcing pricing power when paired with strong leasing execution and asset quality.
Home values in the neighborhood are elevated relative to local incomes (value-to-income ratios rank high nationally), which typically sustains renter reliance on multifamily housing rather than ownership. For investors, this backdrop can support retention and occupancy, while requiring attentive lease management to navigate pockets of affordability pressure.
Safety indicators for the neighborhood are below national averages, and the area ranks below the metro median among 449 Miami neighborhoods. However, recent data show property offenses trending down year over year, an improving sign to monitor alongside local initiatives and on-site management practices.
Investors should underwrite with conservative assumptions and consider measures that enhance on-site visibility, access control, and resident engagement. Comparing trend lines against nearby submarkets can help calibrate operating costs and resident retention strategies.
Corporate employers within commuting range anchor a diverse white-collar workforce that supports renter demand and renewal depth. Nearby nodes include Johnson & Johnson, Mosaic, AutoNation, Ryder System, and World Fuel Services.
- Johnson & Johnson — corporate offices (7.8 miles)
- Mosaic — corporate offices (11.1 miles)
- AutoNation — corporate offices (11.3 miles) — HQ
- Ryder System — corporate offices (13.8 miles) — HQ
- World Fuel Services — corporate offices (14.6 miles) — HQ
Positioned in a renter-heavy pocket of the Miami metro, the property benefits from neighborhood occupancy that has risen over the past five years and rents that track above national medians. According to CRE market data from WDSuite, the area’s ownership costs are relatively high compared with incomes, which helps sustain reliance on rental housing and supports leasing stability when paired with effective operations.
Built in 1982, the asset is slightly newer than much of the local stock, offering competitive positioning with potential to drive returns through targeted renovations and systems modernization. Within a 3-mile radius, population and households are expanding and are projected to continue growing, which points to a larger tenant base and supports long-run occupancy. Key underwriting considerations include affordability pressure and below-average safety metrics, which call for disciplined lease management and asset-level security measures.
- Elevated renter concentration supports a deeper tenant base and steadier leasing
- Neighborhood occupancy has trended upward, reinforcing income stability potential
- 1982 vintage offers competitive positioning with value-add/modernization upside
- High ownership costs relative to incomes sustain demand for rental housing
- Risks: below-average safety and affordability pressure require disciplined operations