| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 75th | Good |
| Demographics | 14th | Poor |
| Amenities | 73rd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 28655 SW 153rd Ave, Homestead, FL, 33033, US |
| Region / Metro | Homestead |
| Year of Construction | 1990 |
| Units | 31 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
28655 SW 153rd Ave Homestead Multifamily Opportunity
Neighborhood-level occupancy is strong and renter demand is deep in this Inner Suburb pocket of Homestead, according to WDSuite s CRE market data, supporting stable cash flow potential. Renter-occupied share is high for the neighborhood, indicating a broad tenant base rather than property-specific performance.
This Inner Suburb neighborhood carries a B rating and performs above metro median on several livability inputs that matter to renters including everyday amenities and parks. Amenity access trends in the upper tier nationally (amenities ~86th percentile; parks ~95th), with supportive counts of pharmacies, cafes, grocery options, and childcare a mix that can aid leasing and renewal prospects, based on CRE market data from WDSuite.
Multifamily fundamentals at the neighborhood level are solid: occupancy is competitive nationally (upper 80s percentile) and the area skews heavily renter-occupied. The renter-occupied share of housing units is high (near the top of national ranges), which typically supports demand depth and lease-up resilience at similar assets. Note these are neighborhood figures, not property performance.
Within a 3-mile radius, population and households have grown over the last five years and are projected to continue expanding, with household counts forecast to rise meaningfully as average household size trends smaller. This combination points to a larger tenant base and steady absorption capacity, which can help support occupancy stability and pricing power for well-positioned buildings.
Homeownership costs in the neighborhood are relatively elevated versus incomes (value-to-income sits in a higher national percentile), which tends to sustain reliance on rental housing. For investors, that context supports retention and renewal strategies, while the neighborhood s 1990 vintage for this property is older than the local average year built. That age profile suggests planning for capital projects and potential value-add renovations to improve competitive positioning against newer stock.
Safety indicators are mixed. The neighborhood ranks 290th out of 449 metro neighborhoods for crime, placing it below the metro average and below national norms overall (around the 38th percentile nationally for safety). That said, recent data show a notable year-over-year decrease in property offenses, signaling improving trends even as violent offense measures remain elevated relative to the nation.
Investors should underwrite with prudent security, lighting, and site-management assumptions and monitor trend direction. Use neighborhood-level benchmarks as context rather than property-specific risk.
Regional employers within commuting range provide a diversified white-collar base that can support renter demand and retention, led by corporate offices such as Lennar, World Fuel Services, Ryder System, Mosaic, and Johnson & Johnson.
- Lennar corporate offices (19.4 miles) HQ
- World Fuel Services corporate offices (22.0 miles) HQ
- Ryder System corporate offices (25.5 miles) HQ
- Mosaic corporate offices (29.1 miles)
- Johnson & Johnson corporate offices (29.1 miles)
The property a 31-unit asset built in 1990 benefits from neighborhood fundamentals that skew favorable for workforce-oriented multifamily: high neighborhood occupancy, a large renter-occupied share, and ongoing 3-mile population and household growth that expands the tenant base. Elevated ownership costs relative to incomes in the neighborhood further support rental demand and lease retention. According to CRE market data from WDSuite, amenity access and parks index well nationally, which can reinforce leasing velocity for renovated, well-managed units.
Given its older vintage versus the local average year built, the asset presents value-add potential via targeted upgrades and systems modernization to compete with newer inventory. Underwriting should also account for measured safety risk and selective affordability pressure (neighborhood rent-to-income around the mid-20s), focusing on operations, resident experience, and expense control to sustain occupancy and drive NOI.
- High neighborhood occupancy and deep renter base support demand stability
- 3-mile population and household growth point to a larger tenant pool
- Older 1990 vintage offers value-add and renovation upside with capital planning
- Elevated ownership costs reinforce reliance on rental housing, aiding retention
- Risks: below-average safety metrics and affordability pressure require prudent operations