| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 78th | Best |
| Demographics | 42nd | Fair |
| Amenities | 21st | Poor |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 26000 SW 144th Avenue Rd, Homestead, FL, 33032, US |
| Region / Metro | Homestead |
| Year of Construction | 2013 |
| Units | 52 |
| Transaction Date | 2012-10-18 |
| Transaction Price | $1,500,000 |
| Buyer | CIRCLE CREEK APARTMENTS LTD |
| Seller | COUNTRY VIEW LLC |
26000 SW 144th Avenue Rd Homestead, FL Multifamily Investment
Neighborhood fundamentals point to steady renter demand and above-median occupancy at the neighborhood level, according to WDSuite’s CRE market data, with a high-cost ownership landscape supporting multifamily leasing.
This suburban Homestead location balances household growth with practical access to daily needs. Grocery availability sits above the national median while restaurants are comparatively well represented (both stronger than many suburban peers), though broader amenities like parks, pharmacies, cafes, and childcare are limited in this neighborhood. For investors, that mix suggests stable day-to-day convenience but fewer lifestyle draws within immediate proximity.
At the neighborhood level, occupancy trends benchmark above the national median, supporting income stability for properties that are well-managed, based on CRE market data from WDSuite. Median contract rents in the neighborhood align with the upper-middle range nationally, and the rent-to-income profile indicates manageable affordability pressure that can aid retention while allowing for disciplined rent setting.
Tenure patterns indicate a meaningful renter base: within the neighborhood, the share of housing units that are renter-occupied is roughly one-third, while within a 3-mile radius renters account for just under half of housing units. For multifamily owners, this points to a sufficiently deep tenant pool and demand durability, particularly as household counts within 3 miles have expanded and are projected to continue rising, implying a larger renter base over time.
The property’s 2013 construction is newer than the neighborhood’s average vintage (2002; rank 73 of 449 metro neighborhoods), which can provide competitive positioning relative to older stock. Investors should still plan for mid-life system updates and selective modernization to maintain leasing velocity against newer deliveries elsewhere in the Miami metro.
Ownership costs in the neighborhood are elevated relative to incomes (high national percentile for home values and value-to-income), which tends to reinforce reliance on rental options and can support pricing power for well-amenitized assets. Combined with continued population growth within a 3-mile radius and a modest decrease in average household size, the outlook suggests a broader tenant base and sustained demand for rental housing.
Crime conditions at the neighborhood level trend weaker than national norms, with violent and property offenses placing in lower national percentiles. Within the Miami metro context, ranks toward the higher-crime end (e.g., crime rank 428 out of 449 neighborhoods) indicate investors should underwrite conservative security and loss assumptions. Recent data do show a modest year-over-year decline in property offenses, which is a constructive directional signal but not yet a trend reversal.
Practically, prudent measures such as access control, lighting, and visible management presence can support resident satisfaction and reduce turnover in areas that benchmark below national safety medians.
Regional employers within commuting range support workforce housing demand, with proximity to homebuilding, energy, logistics, and healthcare offices that can aid leasing and retention for well-positioned assets.
- Lennar — homebuilding HQ (17.6 miles) — HQ
- World Fuel Services — energy & fuel HQ (20.2 miles) — HQ
- Ryder System — logistics & transportation HQ (23.8 miles) — HQ
- Johnson & Johnson — healthcare offices (27.3 miles)
- Mosaic — chemicals & materials offices (27.3 miles)
Built in 2013 with 52 units, the property offers scale and a newer vintage than the surrounding neighborhood average, providing competitive positioning versus older stock while approaching mid-life capital planning. Neighborhood occupancy benchmarks above the national median and area home values are elevated relative to incomes—factors that typically sustain rental demand and support disciplined pricing for assets that present well, according to CRE market data from WDSuite.
Within a 3-mile radius, population and households have grown meaningfully and are projected to expand further, pointing to a larger tenant base over the next several years. Renter-occupied shares at both the neighborhood and 3-mile levels indicate depth in the multifamily demand pool, while grocery and restaurant access is solid even as other amenities are thinner—considerations for resident experience and marketing.
- 2013 construction positions the asset competitively versus older neighborhood stock, with manageable mid-life capex planning.
- Above-median neighborhood occupancy and elevated ownership costs reinforce renter reliance and support income durability.
- 3-mile population and household growth expands the tenant base, aiding lease-up and renewal prospects.
- Proximity to major employers across homebuilding, energy, logistics, and healthcare supports workforce housing demand.
- Risks: neighborhood crime benchmarks below national medians and amenity gaps (parks/cafes) warrant thoughtful security and resident-experience investments.