| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 71st | Fair |
| Demographics | 17th | Poor |
| Amenities | 62nd | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 250 NE 13th St, Homestead, FL, 33030, US |
| Region / Metro | Homestead |
| Year of Construction | 1972 |
| Units | 100 |
| Transaction Date | 2021-11-23 |
| Transaction Price | $12,500,000 |
| Buyer | HOMESTEAD ACQUISITIONS LLC |
| Seller | MIRACLES PROPERTIES LLC |
250 NE 13th St Homestead Multifamily Investment
Neighborhood occupancy is strong and renter demand is deep, according to WDSuite’s CRE market data, positioning this asset for stable leasing with thoughtful affordability management. Directional indicators suggest steady renter reliance in Homestead relative to for-sale alternatives.
Located in Homestead’s inner-suburban fabric, the property sits in a B- rated neighborhood where occupancy trends are healthy and the local renter base is sizable. WDSuite indicates the neighborhood’s occupancy is around the mid-to-upper range for the metro, supporting day-one leasing stability for a 100-unit asset.
Renter-occupied share is high at 76.7% of housing units, signaling a deep tenant pool and recurring demand for multifamily. Median contract rents in the neighborhood track mid-market levels, while WDSuite notes a relatively elevated rent-to-income ratio; investors should plan for proactive lease management and renewal strategies to mitigate affordability pressure and support retention.
Within a 3-mile radius, demographics show recent population and household growth with additional expansion projected over the next five years, pointing to a larger tenant base and continued absorption potential. Average household size is trending lower in forward estimates, which can broaden demand for 1–2 bedroom product and support occupancy stability.
Local amenities skew toward everyday convenience: restaurant and café density outperforms many areas nationally, grocery access is solid, and childcare density is notably strong. Park and pharmacy presence inside the neighborhood is limited, which may modestly affect lifestyle positioning; however, overall amenity availability ranks in the upper half nationally, helping sustain livability for workforce renters.
Ownership costs in the neighborhood are elevated relative to incomes, with home values higher than many U.S. locations and a high value-to-income ratio. This context often sustains rental demand and can support pricing power when balanced with income sensitivity and measured renewal increases.
Safety indicators, per WDSuite, compare generally favorably to many U.S. neighborhoods on property offenses, with year-over-year declines. Violent offense measures sit closer to mid-range nationally and have also trended down over the past year. For investors, the direction of change is constructive, but underwriting should still reflect standard operating precautions and resident-experience investments typical for inner-suburban Miami-Dade locations.
Regional employment anchors within commuting range include corporate offices across homebuilding, fuel services, logistics, and healthcare, which support workforce renter demand and retention consistent with Homestead’s role in the broader Miami labor shed: Lennar, World Fuel Services, Ryder System, Johnson & Johnson, and Mosaic.
- Lennar — homebuilding corporate offices (21.2 miles) — HQ
- World Fuel Services — energy & fuel services corporate offices (23.8 miles) — HQ
- Ryder System — logistics & transportation corporate offices (27.1 miles) — HQ
- Johnson & Johnson — healthcare products corporate offices (31.0 miles)
- Mosaic — materials & fertilizers corporate offices (31.4 miles)
Built in 1972, this mid-70s vintage asset offers potential value-add through interior modernization and targeted system upgrades while remaining competitive against older neighborhood stock. Strong neighborhood occupancy and a high renter-occupied share point to durable leasing fundamentals, while elevated ownership costs in the area reinforce reliance on multifamily housing. Based on commercial real estate analysis from WDSuite, these fundamentals compare favorably to many workforce submarkets in the Miami metro.
Within a 3-mile radius, recent and projected growth in population and households expands the tenant base, and forward estimates of smaller average household sizes can support demand for a mix of unit types. Investors should underwrite for affordability pressure and ongoing resident retention initiatives, given rent-to-income dynamics and modest amenity gaps (notably parks and pharmacies) within the immediate neighborhood.
- Healthy neighborhood occupancy and sizable renter base support leasing stability
- 1972 vintage presents value-add potential via interiors and building systems
- 3-mile radius growth and projected household expansion broaden the tenant pool
- Elevated ownership costs sustain renter reliance, with pricing power balanced by income sensitivity
- Risks: affordability pressure and limited parks/pharmacies warrant proactive retention and amenity strategy