| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 69th | Fair |
| Demographics | 53rd | Good |
| Amenities | 61st | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 8920 NW 8th St, Miami, FL, 33172, US |
| Region / Metro | Miami |
| Year of Construction | 1972 |
| Units | 65 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
8920 NW 8th St Miami Value‑Add Multifamily
Neighborhood occupancy has held in the low 90s and a majority renter-occupied housing base supports demand, according to WDSuite’s CRE market data. For investors, that backdrop points to steady leasing with room to enhance performance through targeted upgrades.
Situated in Miami’s Urban Core and rated B+ (ranked 131 out of 449 metro neighborhoods), the area offers balanced fundamentals for workforce and mid-market renters. Restaurants and daily-needs retail are convenient (strong grocery and pharmacy presence), while parks and cafes are limited—an important nuance for tenant appeal. Average school ratings are around 3 out of 5, which is serviceable for a broad renter base.
Renter-occupied housing accounts for a substantial share of neighborhood units (about 58%), indicating depth in the tenant pool and generally supportive leasing conditions. Neighborhood occupancy has been resilient near the low 90s over the past five years, suggesting stable absorption and reduced downtime between turns relative to weaker submarkets.
Within a 3‑mile radius, population edged down modestly in recent years even as household counts increased and average household size declined—patterns that typically expand the renter pool and support unit absorption. Forward-looking projections in the same 3‑mile radius point to additional household growth and higher incomes, which can bolster rent levels and renewal capture as new renters enter the market. These dynamics align with a measured commercial real estate analysis focused on demand durability rather than short-term spikes.
Home values sit in a higher-cost ownership context for Miami, and rent-to-income levels indicate some affordability pressure for renters. For multifamily owners, that combination can sustain reliance on rentals and support pricing power, but it also calls for deliberate lease management to balance retention with rent growth.
Safety indicators in the neighborhood are mixed when compared nationally: overall conditions sit around the middle of U.S. neighborhoods (44th percentile nationally), with property-related incidents elevated relative to national benchmarks. At the same time, both violent and property offense rates have trended lower year over year, indicating recent improvement momentum rather than deterioration.
For investors, this suggests monitoring remains prudent—particularly for asset hardening, lighting, and access controls—but current trends point to incremental improvement rather than worsening risk. Framing safety in comparative terms helps calibrate underwriting assumptions without relying on block-level conclusions.
Nearby corporate anchors provide a diverse employment base and commute convenience for residents, led by Lennar, World Fuel Services, Ryder System, Johnson & Johnson, and Mosaic. This concentration supports renter demand and renewal potential for workforce and professional tenants.
- Lennar — homebuilding HQ (1.9 miles) — HQ
- World Fuel Services — energy & logistics HQ (2.3 miles) — HQ
- Ryder System — transportation & logistics HQ (6.7 miles) — HQ
- Johnson & Johnson — healthcare products office (8.9 miles)
- Mosaic — chemicals & fertilizers office (13.7 miles)
Built in 1972, the asset is older than the neighborhood’s average vintage, positioning it for value‑add improvements that can sharpen competitive standing against newer stock. Neighborhood fundamentals—majority renter-occupied housing, resilient occupancy near the low 90s, and a steady base of daily-needs amenities—support consistent leasing. Within a 3‑mile radius, households have increased and are projected to expand further with rising incomes, pointing to a larger tenant base and potential for sustained absorption, based on multifamily property research from WDSuite.
At the same time, rent-to-income levels signal affordability pressure in parts of the renter base, arguing for targeted renovations, tiered finishes, and service-led retention strategies rather than across-the-board premium repositioning. Safety metrics show recent improvement trends; continued attention to security and operational best practices can help protect occupancy stability and renewal outcomes.
- Stable neighborhood occupancy and majority renter-occupied housing support consistent leasing.
- 1972 vintage offers value‑add and modernization upside relative to newer competitive stock.
- 3‑mile household growth and income gains expand the renter pool and support absorption.
- Nearby corporate anchors (Lennar, World Fuel, Ryder) reinforce demand from commuting professionals.
- Risks: affordability pressure and mixed safety benchmarks require careful rent setting and asset management.