| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 67th | Fair |
| Demographics | 49th | Good |
| Amenities | 42nd | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 913 NW 97th Ave, Miami, FL, 33172, US |
| Region / Metro | Miami |
| Year of Construction | 2013 |
| Units | 24 |
| Transaction Date | 2012-01-20 |
| Transaction Price | $20,500,000 |
| Buyer | 901 NW 97 MIAMI OWNER LLC |
| Seller | RD FONTAINEBLEAU LLC |
913 NW 97th Ave Miami Multifamily Investment Opportunity
Newer 2013 construction competes well against older neighborhood stock and taps a deep renter-occupied base, according to WDSuite’s CRE market data.
Located in Miami’s Urban Core, the property benefits from strong day-to-day convenience. Neighborhood amenity density is led by restaurants and cafes (both competitive nationally), with grocery options present as well. Park, pharmacy, and formal childcare options are limited within neighborhood boundaries, so residents rely on nearby submarkets for those services.
The property’s 2013 vintage is newer than the neighborhood’s typical 1970s-era housing stock. For investors, this can reduce near-term capital exposure versus older comparables while still leaving room for targeted modernization and common-area enhancements to sharpen competitive positioning.
Neighborhood occupancy has been steady rather than top-tier in recent years, supporting baseline income stability. The share of housing units that are renter-occupied is elevated at the neighborhood level, indicating a larger tenant base and durable multifamily demand. Median contract rents benchmark on the higher side for the metro, which suggests pricing power is achievable with careful lease management.
Within a 3-mile radius, households have grown even as population edged down in the prior period, pointing to smaller household sizes and a larger count of households competing for units. Forward-looking estimates indicate additional household growth through the forecast period, which supports renter pool expansion and helps underpin occupancy and leasing velocity. Rising household incomes in the area further reinforce capacity to support rent levels over time.
Safety trends are mixed. The neighborhood’s overall crime rank sits near the metro median among 449 Miami-area neighborhoods, indicating conditions that are neither among the best nor worst locally. Compared with neighborhoods nationwide, safety levels are below average; however, recent year-over-year declines in both violent and property offenses suggest improving momentum.
Investors should underwrite with standard operating assumptions for urban Miami assets: emphasize lighting, access control, and resident engagement, and monitor local trendlines as part of ongoing risk management.
Proximity to major corporate employers supports commute convenience and leasing depth for workforce and professional tenants. Nearby anchors include Lennar, World Fuel Services, Ryder System, Johnson & Johnson, and Mosaic.
- Lennar — homebuilding HQ (1.2 miles) — HQ
- World Fuel Services — energy distribution HQ (2.2 miles) — HQ
- Ryder System — logistics & transportation HQ (6.5 miles) — HQ
- Johnson & Johnson — healthcare products offices (9.2 miles)
- Mosaic — fertilizer & crop nutrition offices (14.4 miles)
This 2013-vintage, 24-unit asset positions ahead of older neighborhood stock, supporting competitive leasing and moderating near-term CapEx relative to 1970s-era comparables. Neighborhood-level NOI per unit benchmarks are strong by national standards, and median rents skew higher for the metro, indicating the potential for sustained revenue with disciplined operations, according to CRE market data from WDSuite. While neighborhood occupancy is not top-tier, the elevated share of renter-occupied units supports demand depth and reduces exposure to ownership alternatives.
Within a 3-mile radius, household counts increased in recent years and are expected to grow further, implying renter pool expansion and support for occupancy stability. Rising area incomes complement this backdrop, though a higher rent-to-income profile signals affordability pressure that warrants focused lease management and resident retention strategies. Safety metrics compare below national averages but are improving, reinforcing the case for standard urban risk controls rather than outsized contingencies.
- 2013 construction outcompetes older local stock, easing near-term capital exposure
- Elevated renter-occupied share signals a deeper tenant base and durable multifamily demand
- Neighborhood rents benchmark on the higher side, supporting revenue potential with disciplined operations
- Within 3 miles, household growth and rising incomes support occupancy stability and leasing velocity
- Risks: below-average national safety profile and rent-to-income pressure require proactive lease and property management