| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 71st | Fair |
| Demographics | 17th | Poor |
| Amenities | 62nd | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 925 N Krome Ave, Homestead, FL, 33030, US |
| Region / Metro | Homestead |
| Year of Construction | 1972 |
| Units | 26 |
| Transaction Date | 2008-07-11 |
| Transaction Price | $7,959,999 |
| Buyer | HOMESTEAD PORTFOLIO LP |
| Seller | REMINGTON APARTMENTS HOMESTAED LLC |
925 N Krome Ave, Homestead FL — 26-Unit Multifamily Opportunity
Neighborhood fundamentals point to durable renter demand, with high renter-occupied share and strong neighborhood occupancy supporting income stability, according to WDSuite’s CRE market data.
This Inner Suburb location in Homestead benefits from a deep renter base and tight conditions at the neighborhood level. Neighborhood occupancy is strong (97.2%) and ranks 130 out of 449, which is competitive among Miami-Miami Beach-Kendall neighborhoods and above the national average, per WDSuite. The share of renter-occupied housing units in the neighborhood is high at 76.7% (ranked 26 of 449), signaling a sizable tenant pool and consistent leasing velocity for multifamily.
Amenities that matter for day-to-day living are close at hand. Relative to the metro’s 449 neighborhoods, the area is competitive on overall amenities (rank 128), with especially dense concentrations of restaurants and cafes (both in the top quartile nationally), and grocery access scoring well above national averages. These local dynamics support retention and convenience-sensitive renters.
Within a 3-mile radius, demographics show population growth of roughly 18% since the prior period and a 36% increase in households, expanding the renter pool. Forecasts point to continued growth through 2028 alongside smaller household sizes, which typically supports absorption of smaller units and diversified unit mixes. Median contract rents in the 3-mile area have risen while remaining aligned with workforce segments, based on multifamily property research from WDSuite.
Ownership costs are elevated in the neighborhood context (median home values near the upper quartile nationally and a value-to-income ratio in a high national percentile). In investor terms, a high-cost ownership market tends to reinforce reliance on rental housing and can bolster pricing power and lease retention, though it requires attention to affordability pressure in renewal strategies.
Safety trends are mixed but improving. The neighborhood ranks 37 out of 449 on crime within the Miami-Miami Beach-Kendall metro, indicating higher crime relative to many local peers; however, it sits around the 65th national percentile for safety, which is above the national average. Recent year-over-year estimates from WDSuite indicate double-digit declines in both property and violent offenses, suggesting momentum in the right direction. Investors should evaluate submarket blocks and property-level measures to maintain resident confidence and retention.
Proximity to major employers across greater Miami supports a broad workforce tenant base and commute convenience for residents. Nearby corporate offices include Lennar, World Fuel Services, Ryder System, Johnson & Johnson, and Mosaic.
- Lennar — homebuilding HQ (21.5 miles) — HQ
- World Fuel Services — energy & logistics HQ (24.1 miles) — HQ
- Ryder System — transportation & logistics HQ (27.4 miles) — HQ
- Johnson & Johnson — healthcare offices (31.3 miles)
- Mosaic — industrial & materials offices (31.8 miles)
The property’s 26 units align with a neighborhood where renter-occupied housing is prevalent and occupancy is competitively high versus the metro, supporting income durability. Elevated ownership costs in the area favor continued reliance on rental housing, while 3-mile demographic trends point to population and household growth that can expand the tenant base and support leasing stability.
Built in 1972, the asset is somewhat newer than the neighborhood’s average vintage and may remain competitive against older stock, while still warranting capital planning for systems and targeted renovations to drive rent positioning. According to CRE market data from WDSuite, rent-to-income dynamics indicate affordability pressure is a factor to manage through thoughtful lease management and amenity-value alignment.
- Tight neighborhood occupancy and high renter concentration support stable leasing
- 3-mile population and household growth expand the renter pool and demand depth
- Elevated ownership costs reinforce sustained demand for multifamily units
- 1972 vintage offers value-add and system upgrade opportunities to enhance competitiveness
- Risks: localized safety variance within the metro and rent-to-income pressure require proactive management