| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 86th | Best |
| Demographics | 39th | Fair |
| Amenities | 6th | Poor |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 26600 SW 146th Ct, Homestead, FL, 33032, US |
| Region / Metro | Homestead |
| Year of Construction | 2009 |
| Units | 106 |
| Transaction Date | 2008-06-11 |
| Transaction Price | $750,000 |
| Buyer | SUNRISE COMMONS OWNER LLC |
| Seller | SUNRISE COMMONS LTD |
26600 SW 146th Ct Homestead Multifamily Investment
Neighborhood occupancy is near 98%, supporting steady tenant retention and leasing, according to WDSuite’s CRE market data. With a suburban setting and a balanced renter base, the asset benefits from durable demand drivers relative to broader Miami-Dade.
This Homestead location sits within a suburban neighborhood of the Miami–Miami Beach–Kendall metro. Neighborhood occupancy trends place the area in the top quartile nationally, indicating stable leasing fundamentals; note these are neighborhood-level metrics, not property performance, based on CRE market data from WDSuite.
The renter-occupied share is measured at the neighborhood level at roughly the upper-third nationally, signaling a meaningful renter base that supports demand depth for multifamily. Within a 3‑mile radius, population has grown in recent years and households have expanded faster than population, which points to a larger tenant base and smaller average household sizes over time — dynamics that typically support occupancy stability and absorption.
Home values in the neighborhood are elevated compared with national norms, and the value-to-income ratio ranks near the top of U.S. neighborhoods. In investor terms, this high-cost ownership market tends to reinforce renter reliance on multifamily housing and can aid lease retention. Neighborhood median contract rents are above the national midpoint, while rent-to-income levels indicate manageable affordability pressure locally, which can support pricing power when paired with prudent lease management.
Amenity density (grocery, pharmacies, parks, and cafés) is limited by national comparison, and average school ratings in the neighborhood are below the national midpoint. Investors should underwrite for a more car‑oriented resident profile and consider value propositions that resonate with families seeking space and access to major employment corridors more than walkable retail.
Neighborhood safety signals are mixed. The area’s crime rank is 122 out of 449 Miami–Miami Beach–Kendall neighborhoods, indicating higher incident levels than many parts of the metro, while national positioning is around the middle of U.S. neighborhoods. Recent trend data is constructive: estimated violent and property offense rates have declined year over year, with improvement pacing above many neighborhoods nationwide.
For underwriting, this suggests current conditions require sensible security and community management, but improving trends may help support resident retention and leasing stability over the hold period.
Proximity to major corporate offices underpins workforce housing demand and commute convenience, with concentrations in homebuilding, energy logistics, and transportation services, plus diversified corporate tenants.
- Lennar — homebuilding (18.0 miles) — HQ
- World Fuel Services — energy logistics (20.5 miles) — HQ
- Ryder System — transportation & logistics (24.1 miles) — HQ
- Johnson & Johnson — healthcare products (27.6 miles)
- Mosaic — industrial & chemicals (27.7 miles)
Built in 2009, this 106‑unit multifamily asset is relatively modern for its submarket, offering competitive positioning versus older inventory while leaving room for selective updates to drive value-add returns. Neighborhood occupancy sits in the top quartile nationally and renter demand is supported by a sizable renter-occupied share at the neighborhood level. Elevated ownership costs in the area help sustain reliance on rental housing, and within a 3‑mile radius, population and household growth point to a larger tenant base that can support occupancy stability.
Neighborhood amenities and school ratings trend below national medians, and safety ranks below many metro peers, which warrant conservative underwriting on marketing and operations. Even so, rent-to-income levels suggest manageable affordability pressure locally, offering measured pricing power when paired with thoughtful lease management and unit upgrades. These views reflect local fundamentals based on commercial real estate analysis using WDSuite’s data.
- 2009 vintage provides competitive bones with potential for targeted renovations and operational improvements.
- Neighborhood occupancy is top quartile nationally, supporting leasing stability relative to broader benchmarks.
- High-cost ownership market reinforces renter demand and can aid retention.
- 3‑mile population and household growth expand the tenant base and support absorption over time.
- Risks: below-median school ratings, limited nearby amenities, and safety positioning below many metro neighborhoods warrant conservative underwriting.