| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 79th | Best |
| Demographics | 22nd | Poor |
| Amenities | 14th | Poor |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 14570 SW 280th St, Homestead, FL, 33032, US |
| Region / Metro | Homestead |
| Year of Construction | 2012 |
| Units | 20 |
| Transaction Date | 2011-12-13 |
| Transaction Price | $4,000,000 |
| Buyer | VILLA CAPRI ASSOCIATES LTD |
| Seller | VILLA CAPRI INC |
14570 SW 280th St Homestead Multifamily Opportunity
Stabilized renter demand and a newer 2012 vintage support durable operations, according to WDSuite’s CRE market data. Neighborhood occupancy is strong while renter concentration provides depth of tenant demand for a 20-unit asset in Miami-Dade.
The property sits within Homestead’s Urban Core, where neighborhood occupancy registers 96.2%, placing the area in the top quartile nationally for occupancy strength based on CRE market data from WDSuite. Renter-occupied share is 60.7%, indicating a sizable renter base that can support leasing stability for multifamily owners. Median contract rents in the neighborhood are positioned near the upper end of local ranges, which underscores steady demand but also calls for disciplined lease management given household budgets.
Amenity density is limited for cafes, groceries, restaurants, parks, and pharmacies at the neighborhood level, while childcare availability tests competitively versus peers. Investors should underwrite convenience and transportation access at the submarket level to offset day-to-day amenity gaps; this can be mitigated by the broader Miami employment draw and Homestead’s regional connectivity.
Home values around $306,240 signal a high-cost ownership context relative to local incomes, which tends to reinforce reliance on rental housing and can aid lease retention. At the same time, the neighborhood’s rent-to-income ratio of 0.43 suggests affordability pressure for some households; revenue strategies should balance pricing power with retention risk.
Within a 3-mile radius, population has expanded in recent years and households increased notably, with projections pointing to further population growth and a larger number of households through 2028. This trajectory implies a growing tenant pool and supports occupancy stability over a multi-year hold, even as average household size trends downward.
Built in 2012, the asset is slightly newer than the neighborhood’s average vintage (2011). That positioning can be competitive versus older stock, though investors should still plan for mid-life system upkeep and selective cosmetic upgrades to protect rents and leasing velocity.
Neighborhood safety indicators are mixed when viewed against both metro and national benchmarks. Using WDSuite’s data, the area ranks 214 out of 449 Miami metro neighborhoods on crime, placing it below the metro median. Nationally, the neighborhood sits below the median for safety as well. However, year-over-year trends show improvement, with both violent and property offense rates declining, which may help support resident retention if the trajectory continues.
Investors should underwrite security line items and property-level design (lighting, access control) to align with local conditions, while monitoring the recent downward trend as a potential positive for leasing and reputation management.
Regional employment access features several Miami corporate headquarters and offices within commuting distance, supporting workforce housing demand and potential lease retention. Notable nearby employers include Lennar, World Fuel Services, Ryder System, Mosaic, and Johnson & Johnson.
- Lennar — homebuilding HQ (18.9 miles) — HQ
- World Fuel Services — energy & logistics (21.5 miles) — HQ
- Ryder System — transportation & logistics (25.1 miles) — HQ
- Mosaic — corporate offices (28.3 miles)
- Johnson & Johnson — corporate offices (28.6 miles)
This Homestead asset combines a newer 2012 vintage with solid neighborhood fundamentals: occupancy of 96.2% and a 60.7% renter-occupied share point to a deep tenant base and steady leasing prospects. According to CRE market data from WDSuite, the neighborhood’s occupancy profile sits in the top quartile nationally, while ownership costs in the area support sustained reliance on rental housing. Demographic momentum within a 3-mile radius — with both population and households expanding and projected to continue rising — bolsters expectations for a larger tenant pool over the medium term.
Counterbalancing factors include below-median safety readings at the metro and national levels, limited neighborhood amenity density, and elevated rent-to-income ratios that call for careful pricing and renewal tactics. As a 2012 build, the property should be competitive versus older stock, but investors should budget for mid-life capital items and targeted upgrades to preserve positioning and retention.
- Occupancy strength and high renter concentration support leasing stability
- 2012 vintage offers competitive positioning with manageable mid-life capex planning
- 3-mile demographics point to continued growth in households and a larger tenant pool
- Regional access to major Miami headquarters underpins workforce renter demand
- Risks: below-median safety metrics, amenity scarcity, and affordability pressure require active lease and expense management