| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 66th | Poor |
| Demographics | 27th | Poor |
| Amenities | 29th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 105 SE 12th Ave, Homestead, FL, 33030, US |
| Region / Metro | Homestead |
| Year of Construction | 1997 |
| Units | 77 |
| Transaction Date | --- |
| Transaction Price | $409,200 |
| Buyer | DEEDCO GARDENS INC |
| Seller | ELIAS LEWIS R |
105 SE 12th Ave Homestead, FL Multifamily Investment
Neighborhood occupancy trends and a very high renter concentration indicate durable tenant demand, according to WDSuite’s CRE market data. Positioned for workforce housing in Miami-Dade, the asset’s location supports steady leasing with room for operational optimization.
Homestead’s Inner Suburb setting offers practical access to Miami-Dade employment while maintaining a local renter base. Neighborhood occupancy is above the national median, and the area ranks 246 out of 449 metro neighborhoods for occupancy, placing it competitive among Miami-Miami Beach-Kendall submarkets. For investors, this suggests support for stabilized operations and less volatile churn versus weaker submarkets.
Renter-occupied housing accounts for a very large share of neighborhood units (ranked 11 out of 449 in the metro and in the top percentile nationally), pointing to a deep tenant pool and reliable demand for multifamily. Within a 3-mile radius, population grew about 21% over the last five years and households expanded roughly 40%, with forecasts indicating further population and household growth over the next five years. A projected decline in average household size suggests more households forming, which typically broadens the renter pool and supports occupancy stability.
Local amenities skew toward dining, with restaurant density performing well compared with national peers, while cafés, groceries, parks, and pharmacies are thinner in the immediate neighborhood. Investors may want to prioritize on-site conveniences and service-oriented features that offset limited nearby retail. Median home values sit above the national median and the value-to-income ratio is high relative to U.S. neighborhoods, indicating a high-cost ownership market that can reinforce reliance on rentals and support pricing power. At the same time, rent-to-income indicators flag affordability pressure, which warrants attentive lease management and renewal strategies.
The property’s 1997 vintage is newer than the neighborhood average year of construction (1986). That positioning can enhance competitiveness versus older stock, though investors should still plan for modernization of aging systems and selective upgrades to strengthen leasing and retention.
Comparable neighborhood crime data are not available in this dataset. Investors typically benchmark safety by comparing neighborhood trends to metro and national baselines and by reviewing multi-year patterns from local public sources. When underwriting, consider standard measures such as lighting, access control, and resident engagement programs to support retention and asset quality.
Regional employers within commuting range support a broad workforce housing base and help underpin renter demand. The list below highlights nearby corporate offices that can influence leasing stability through steady employment ties.
- Lennar — homebuilding HQ (21.9 miles) — HQ
- World Fuel Services — energy & logistics HQ (24.4 miles) — HQ
- Ryder System — transportation & logistics HQ (27.9 miles) — HQ
- Johnson & Johnson — healthcare products (31.6 miles)
- Mosaic — industrial & materials (31.6 miles)
This 77-unit, 1997-vintage asset sits in a neighborhood with above-national-median occupancy and an exceptionally high share of renter-occupied housing, supporting a resilient tenant base. Within a 3-mile radius, recent population and household growth, with further expansion forecast, points to a larger renter pool and steady leasing fundamentals. According to CRE market data from WDSuite, ownership costs in the area are elevated relative to incomes, which can sustain reliance on rentals and underpin rent levels, though lease management should account for affordability pressure.
Relative to older local stock, the property’s vintage can be competitively positioned with targeted modernization, helping capture demand from households seeking well-managed, practical housing near Miami-Dade employment corridors. Operational focus on renewals, unit turns, and convenience amenities can help mitigate limited neighborhood retail and support retention.
- High renter concentration in the neighborhood supports demand depth and occupancy stability.
- 3-mile population and household growth, with additional expansion forecast, enlarges the tenant base.
- 1997 vintage offers competitive positioning versus older stock with targeted modernization and capital planning.
- Elevated ownership costs relative to incomes can support multifamily demand and pricing power.
- Risks: affordability pressure and thinner nearby retail require disciplined lease management and on-site convenience strategies.