SmartZip Coral Springs Top10 Real Estate Investment Market Report July 2009
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SmartZip's Analysis and insights into Coral Springs, FL as a fundamentally strong real estate market for investors and homebuyers, based on SmartZip's investment ratings and local insights
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SmartZip Coral Springs Top10 Real Estate Investment Market Report July 2009
- 1. TM July 2009 | www.SmartZip.com CORAL SPRINGS, FL Overview Key Investment Metrics Coral Springs is a city on Florida’s southern Average SmartZip Score™ 76 Growth Atlantic coast, in northeastern Broward 68 Income County. Coral Springs is thirty minutes Average Market Value: $209,838 northwest of Fort Lauderdale, twenty minutes northwest of Pompano Beach, and fifty $107 per Sq. Ft. minutes northwest of Miami. Coral Springs is 10-Year Proj. Appreciation: 42% thirty-five minutes from Port Everglades, the Average Monthly Rent: $1,901 second busiest cruise port in the world. Average Cap Rate: 5.3% Many area schools have received the School Rating (10 is best): 8 “Five Star School Award” from the Florida Department of Education as schools that have shown exemplary community involvement. The city itself was awarded the Malcom Baldrige National Quality Award in 2007, and continues to garner kudos on a Local Expert Insights State and regional level. • Look in zip code 33065 where there are over 1,000 listings (2/3 foreclosure, 1/3 short sale) On the Map • Single-family homes previously at ~$500k, now selling at $160-$170k, below replacement cost • Condos and townhomes are available for under $100k, so investors can enter this market for under $20k • Since many families have lost their homes to foreclosure, they are looking to rent and a rental home does not stay on the market more than a week if it’s priced correctly • Buying for resale: don’t expect to be able to flip these homes; there’s a lot of supply and the market will remain soft for some time. Plan to hold for at least 2-3 years
- 2. Coral Springs, FL Heat Maps 10 Year Population Growth Monthly Cash-Flow Investment Market Comparison About the Top 10 Markets The SmartZip Top 10 Markets™ is a featured list of the top rated markets hand-picked by our panel of investment analysts. Candidates for the list are identified using our proprietary SmartZip Score™ ratings averaged across the Growth and Income investment strategies. Learn more at www.SmartZip.com www.SmartZip.com | ©2008-2009 SmartZip, Inc. All rights reserved.