| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 79th | Best |
| Demographics | 22nd | Poor |
| Amenities | 14th | Poor |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 14536 SW 284th St, Homestead, FL, 33033, US |
| Region / Metro | Homestead |
| Year of Construction | 2011 |
| Units | 20 |
| Transaction Date | 2010-12-09 |
| Transaction Price | $4,000,000 |
| Buyer | VILLA CAPRI III ASSOCIATES LTD |
| Seller | VILLA CAPRI INC |
14536 SW 284th St Homestead Multifamily Opportunity
Neighborhood occupancy is resilient and renter demand is broad-based relative to the Miami metro, according to WDSuite s CRE market data, positioning this 20-unit asset for steady leasing. Focus for investors is on demand depth over walkability and on disciplined rent management.
The property sits in Homestead within the Miami-Miami Beach-Kendall metro, where the immediate neighborhood posts a 96.2% occupancy rate. At rank 171 of 449 neighborhoods, that places it competitive among Miami-Miami Beach-Kendall neighborhoods and indicates generally stable leasing conditions for multifamily.
Renter-occupied housing comprises 60.7% of neighborhood units (rank 78 of 449), signaling a deep tenant pool and consistent multifamily demand. While household incomes within the neighborhood trend below national medians, median contract rents are above the national middle tier, so rent-to-income levels point to affordability pressure that warrants attentive lease management and renewals strategy.
Within a 3-mile radius, population grew and households expanded by 27.6% over the last five years, with WDSuite data indicating further growth ahead in both households and incomes. This points to a larger tenant base and supports occupancy stability, though smaller forecast household sizes suggest ongoing demand for a range of unit types and price points.
Retail and recreational amenity density inside the neighborhood ranks near the bottom of the metro (e.g., cafes, groceries, parks), which implies car-oriented living and fewer immediate walk-to options. For investors, that usually tilts the resident profile toward value- and space-seeking renters rather than amenity-first households, with pricing power more tied to unit quality and on-site convenience than to surrounding retail.
Home values in the neighborhood sit in the upper half nationally. In practice, this high-cost ownership market supports renter reliance on multifamily housing, which can aid retention and reduce turnover when paired with appropriate value positioning.
Safety indicators for the neighborhood sit below national medians overall, while positioning around the metro median (crime rank 214 out of 449). Recent trend data from WDSuite shows year-over-year declines in both violent and property offense estimates, suggesting incremental improvement rather than a structural shift.
For underwriting, this calls for pragmatic assumptions: market to typical workforce renters, emphasize on-site security practices, and benchmark expected turnover and insurance costs against comparable Miami submarkets showing similar safety profiles. As always, evaluate recent comps and management practices rather than relying solely on historical averages.
Nearby employment anchors span homebuilding, energy distribution, logistics, chemicals, and healthcare corporate offices, supporting a broad commuter renter base and aiding lease retention for workforce-oriented units.
- Lennar — homebuilding (19.0 miles) — HQ
- World Fuel Services — fuel distribution (21.6 miles) — HQ
- Ryder System — logistics (25.2 miles) — HQ
- Mosaic — chemicals (28.4 miles)
- Johnson & Johnson — healthcare products (28.7 miles)
This 20-unit Homestead asset benefits from a renter-heavy neighborhood and competitive occupancy versus the Miami-Miami Beach-Kendall metro. Household growth within a 3-mile radius and projected increases in incomes point to a growing tenant base that can sustain leasing, even as walkable amenities remain limited. According to CRE market data from WDSuite, neighborhood occupancy stands in the upper tier for the metro, while ownership costs in the area help reinforce reliance on rentals.
Key considerations include managing affordability pressure reflected in elevated rent-to-income ratios and calibrating renewal strategies to balance rent growth with retention. Amenity-light surroundings place more weight on unit quality, parking, and on-site services to support absorption and renewal performance.
- Competitive neighborhood occupancy supports leasing stability relative to the Miami metro
- Deep renter concentration locally and 3-mile household growth expand the tenant base
- Ownership costs in the area sustain renter reliance, aiding retention and pricing power
- Risk: higher rent-to-income levels require careful renewal management to protect occupancy
- Risk: limited nearby amenities shifts competitiveness to on-site features and operations