| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 69th | Fair |
| Demographics | 25th | Poor |
| Amenities | 15th | Poor |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1201 SW 6th Ct, Homestead, FL, 33034, US |
| Region / Metro | Homestead |
| Year of Construction | 2005 |
| Units | 25 |
| Transaction Date | 2021-05-14 |
| Transaction Price | $25,200,000 |
| Buyer | SPIER PETER A |
| Seller | MERRITT PLACE LTD |
1201 SW 6th Ct Homestead 25-Unit Multifamily Opportunity
Neighborhood occupancy sits around the low-90s with a renter-occupied share in the mid-40s percent, suggesting a stable tenant base, according to WDSuite’s CRE market data. Positioned in Miami-Dade’s inner suburb, the asset caters to workforce households seeking larger floor plans and commute access.
Located in Homestead’s inner-suburban fabric of the Miami–Miami Beach–Kendall metro, the property benefits from steady neighborhood occupancy (roughly at the national median) and a renter concentration that is above many peer areas. Within a 3-mile radius, demographics indicate a growing population and a faster increase in households, expanding the local renter pool and supporting leasing durability, based on CRE market data from WDSuite.
Household formation within 3 miles has outpaced population growth over the last five years while average household size has trended lower. This points to more households competing for units and can help sustain occupancy and absorption for family-friendly layouts.
Amenity access is mixed: neighborhood-level childcare density ranks competitively (top decile nationally), but walkable retail, groceries, cafes, parks, and restaurants are limited compared with other Miami metro neighborhoods. From an investor perspective, this tilts the demand profile toward drive-to conveniences and reinforces the appeal of larger units and onsite functionality.
Home values in the neighborhood sit modestly above national medians, and rent-to-income measures indicate manageable affordability pressure relative to many coastal markets. For investors, this suggests reasonable lease retention potential with scope for disciplined rent management rather than outsized near-term pricing power.
Vintage context matters: built in 2005 versus a neighborhood average closer to the early 2000s, the asset is somewhat newer than much of the local stock. That positioning can aid competitiveness against older properties, while investors should still plan for mid-cycle systems upgrades or selective modernization to capture value-add upside.
Safety indicators for the neighborhood sit below the national median, with violent and property incident estimates trending weaker than safer suburban peers. Recent year-over-year estimates indicate an uptick in violent incidents at the neighborhood level, warranting ongoing monitoring and responsive property operations (lighting, access control, and resident engagement). These figures reflect neighborhood conditions within the Miami metro and not the specific property.
Relative to neighborhoods nationwide, this area does not rank among top-quartile safety cohorts, but it is comparable to many workforce submarkets in larger Sun Belt metros. Investors should underwrite to prudent security measures and consider how professional management and visibility to major corridors can support resident confidence over time.
Proximity to major corporate offices along the Miami employment corridor supports commuter demand and lease retention, especially for workforce households. Notable nearby employers include homebuilding, energy logistics, transportation, healthcare, and materials firms listed below.
- Lennar — homebuilding (24.5 miles) — HQ
- World Fuel Services — energy & logistics (27.1 miles) — HQ
- Ryder System — transport & logistics (30.4 miles) — HQ
- Johnson & Johnson — healthcare & consumer products offices (34.3 miles)
- Mosaic — fertilizers & materials offices (34.4 miles)
1201 SW 6th Ct is a 25-unit, 2005-vintage multifamily property with notably large floor plans, aligning with a renter pool that skews toward families and multi-earner households within a 3-mile radius. Neighborhood occupancy trends are around national medians, and renter concentration is comparatively high in the broader 3-mile area, which supports depth of demand and day-one leasing stability. According to commercial real estate analysis from WDSuite, the asset’s slightly newer vintage than nearby stock can help it compete on finishes and layout, while selective modernization offers value-add pathways.
Local amenities are thinner than core Miami neighborhoods, but access to major employment nodes across the county underpins commute-based demand. Ownership costs in the area are elevated relative to incomes by national standards, which can reinforce reliance on rental housing and aid retention when paired with professional management and careful rent-to-income oversight.
- Large 2005-vintage units position well for family and multi-earner renters.
- Renter pool expansion within 3 miles supports occupancy stability and absorption.
- Slightly newer construction than neighborhood average enables targeted value-add.
- Drive-to amenities and proximity to major employers sustain workforce demand.
- Risks: below-median safety metrics and limited walkable retail; underwrite security and operations accordingly.