| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 73rd | Good |
| Demographics | 27th | Poor |
| Amenities | 62nd | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 900 NE 18th Ave, Homestead, FL, 33033, US |
| Region / Metro | Homestead |
| Year of Construction | 1972 |
| Units | 32 |
| Transaction Date | 2016-03-31 |
| Transaction Price | $4,300,000 |
| Buyer | READ HOMESTEAD 50 LLC |
| Seller | EUROPA INVESTMENT LLC |
900 NE 18th Ave Homestead Multifamily Investment
Stabilized renter demand in this Homestead inner-suburb location is supported by high neighborhood occupancy and a sizable renter base, according to CRE market data from WDSuite. For investors, the combination points to steady leasing with room for operational upside.
Situated in an Inner Suburb pocket of Homestead with a B- neighborhood rating, the area features everyday convenience: grocery and pharmacy access ranks competitive among Miami-Miami Beach-Kendall neighborhoods, and café/restaurant density is strong by national comparison. That breadth of essentials tends to support resident retention and day-to-day livability for workforce tenants.
Parks and formal childcare options are comparatively limited in the immediate neighborhood, which may matter for certain family renters. Even so, neighborhood occupancy is above national norms (near the top quintile nationally), signaling durable renter demand and reduced downtime between turns for well-managed assets.
Tenure data indicates a higher share of renter-occupied housing units locally, which deepens the tenant pool and can support leasing velocity for midsize assets like this 32-unit property. Median home values in the neighborhood sit on the higher side relative to local incomes (high national percentile for value-to-income), which typically reinforces renter reliance on multifamily housing and can aid pricing power when paired with prudent lease management.
Demographics aggregated within a 3-mile radius show recent population and household growth, with forecasts pointing to further household increases alongside smaller average household sizes. For investors, that implies a larger tenant base over time and potential support for occupancy stability as more households seek rental options.
Neighborhood safety signals are mixed but improving. Overall, the area trends modestly safer than the national average (around the 60th percentile nationally), while recent data shows meaningful year-over-year declines in both property and violent offenses, according to WDSuite’s CRE market data.
At the same time, violent-offense safety sits below the national median (around the low 30s percentile), so prudent security practices and resident engagement remain relevant to underwriting. Investors should view the downtrend as constructive while recognizing submarket variability across Miami-Dade.
Proximity to major corporate offices across Miami-Dade supports a broad employment base and commute convenience for renters. Key nearby employers include Lennar, World Fuel Services, Ryder System, Mosaic, and Johnson & Johnson.
- Lennar — homebuilding HQ (21.1 miles) — HQ
- World Fuel Services — energy & logistics HQ (23.6 miles) — HQ
- Ryder System — transportation & logistics HQ (27.1 miles) — HQ
- Mosaic — industrial services (30.8 miles)
- Johnson & Johnson — healthcare & consumer products (30.8 miles)
Built in 1972, this 32-unit asset presents classic value-add potential: systems and interiors may warrant targeted capital planning, while neighborhood fundamentals point to steady demand. High neighborhood occupancy and a renter-leaning housing mix support income durability, and elevated ownership costs relative to incomes tend to sustain multifamily demand. According to CRE market data from WDSuite, local amenity access is competitive within the Miami metro for daily needs, which can aid retention.
Within a 3-mile radius, recent growth in population and especially households, alongside expectations for further household expansion and smaller household sizes, suggests a widening renter pool over time. Taken together, these dynamics support an underwriting case centered on stable occupancy with potential to capture operational upside through renovations and disciplined leasing.
- High neighborhood occupancy and sizable renter-occupied share support leasing stability
- 1972 vintage offers clear value-add and capital improvement pathways
- Competitive access to daily amenities bolsters resident retention potential
- 3-mile household growth and smaller household sizes expand the tenant base
- Risks: limited parks/childcare amenities and mixed safety signals warrant prudent operations