| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 66th | Poor |
| Demographics | 47th | Good |
| Amenities | 15th | Poor |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 12801 SW 252nd St, Homestead, FL, 33032, US |
| Region / Metro | Homestead |
| Year of Construction | 2011 |
| Units | 20 |
| Transaction Date | 2010-08-10 |
| Transaction Price | $4,795,000 |
| Buyer | 12801 SW 252 FL OWNER LLC |
| Seller | MIRABELLA I ASSOCIATES LTD |
12801 SW 252nd St Homestead Multifamily Investment
Neighborhood occupancy is elevated and historically stable, according to CRE market data from WDSuite, while 3-mile household growth suggests a larger tenant base for sustained leasing. Built in 2011, the asset should compete well against older nearby stock.
Located in Homestead’s inner-suburban fabric of the Miami-Miami Beach-Kendall metro, the property benefits from a neighborhood occupancy rate that sits in the top quartile nationally and is above the metro median, based on CRE market data from WDSuite. Note that these occupancy metrics reflect the neighborhood, not the property. A measured renter-occupied share locally is complemented by a deeper renter concentration within the 3‑mile radius, supporting demand for multifamily units and lease retention.
Livability features skew toward open space rather than retail density. Park access is competitive among 449 metro neighborhoods, whereas near-field cafe, grocery, restaurant, and pharmacy counts rank low, signaling a more residential setting. For investors, this typically translates to quieter blocks with fewer walk-to amenities; marketing should emphasize access to major corridors and household-serving parks rather than street retail.
Within a 3‑mile radius, population and household counts have expanded and are projected to continue rising, indicating a growing tenant pool. Household sizes are trending modestly smaller over time, which can support steady absorption of a range of unit types. Median contract rents at the neighborhood level sit above national medians while rent-to-income levels remain manageable, a combination that can aid pricing power without materially increasing retention risk.
Construction in the area skews relatively recent, with an average vintage near 2010; this property’s 2011 delivery is slightly newer than the neighborhood norm. That positioning can be advantageous versus older product, while investors should still plan for mid-life system updates and selective common-area refreshes to maintain competitiveness.
Safety indicators are broadly in line with national averages and competitive among Miami-Miami Beach-Kendall neighborhoods. The neighborhood’s crime standing ranks in the stronger half of the metro when compared against 449 neighborhoods, and recent data show a notable year-over-year reduction in property offenses alongside a modest decline in violent offenses. These points reflect neighborhood-level trends rather than block-specific conditions.
For underwriting, this pattern supports stable lease-up and renewal assumptions relative to similarly situated inner-suburban locations, while on-site lighting, access controls, and resident engagement remain standard best practices for maintaining performance.
Regional employment anchors within commuting range include homebuilding, energy services, logistics, and diversified corporate offices, supporting workforce housing demand and renewal stability for this submarket. The list below reflects nearby corporate offices commonly tapped by renters for commute convenience.
- Lennar — homebuilding HQ (16.8 miles) — HQ
- World Fuel Services — energy services HQ (19.3 miles) — HQ
- Ryder System — logistics & fleet management HQ (23.1 miles) — HQ
- Mosaic — corporate offices (25.8 miles)
- Johnson & Johnson — corporate offices (26.3 miles)
The investment case centers on durable neighborhood occupancy, a growing 3‑mile renter pool, and positioning that is slightly newer than the area’s average vintage. According to CRE market data from WDSuite, neighborhood occupancy is in the top quartile nationally, and household growth in the surrounding radius supports demand depth and renewal probability. The 2011 construction provides a competitive edge versus older stock, with a clear path for targeted upgrades to sustain rent momentum.
Counterpoints include amenity-light blocks that may modestly influence leasing velocity and neighborhood NOI per unit that trails stronger Miami submarkets. Proximity to major regional employers helps offset some of that drag, but underwriting should reserve for mid-life building systems and focus on operational execution to capture retention and steady rent steps.
- High neighborhood occupancy and expanding 3‑mile household base support leasing stability
- 2011 vintage competitive versus older stock; scope for selective value-add and systems updates
- Established regional employers within commutable distance bolster workforce renter demand
- Manageable rent-to-income dynamics aid pricing power without elevated retention risk
- Risks: amenity-light area and below-metro NOI per unit; plan for mid-life capex and disciplined leasing