Cooper City Residential Multi-Family Market Research

Cooper City Residential Multi-Family Market Research

Introduction to Cooper City

Cooper City is a city in Broward County, Florida, United States. The city is named for Morris Cooper, who founded the community in 1959. The city's population was 28,547 at the 2010 census. Cooper City is part of the South Florida metropolitan area, which was home to 5,564,635 people at the 2010 census.

In 2006, with the annexation of the Waldrep Dairy Farm, Cooper City started construction on the first major new home construction project within the past few decades. It was expected the addition of the 530-acre (2.1 km2) property would add upwards of 4,000 new residents through 2011.

It has been rated as one of the top 10 towns for families by Family Circle magazine.

Cooper city has approximately 40 multifamily unit properties within its city limits ranging between 2-10 units with a total of 160 residential apartment units. 

The overall median age is 39.6 years, 38.4 years for males, and 40.7 years for females. 

Based on data from the American Community Survey, in 2017 there were 11,516 households in the city, with an average size of 3.12 people per household. The vacancy rate was 4.4%, with a median rent of $1768/month. The median house has 6.3 rooms, and has a value of $319,400.

The median income for households in Cooper City, Florida is $92,388, while the mean household income is $115,565. The per capita income is $38,537, and 3.1% of families and 4.4% of individuals are below the federal poverty line. 4.6% of those under 18 are in poverty, as are 5% of those 65 years or older.

Cooper City Population (2010)

  • City 28,547
  • Estimate (2016) 35,405
  • Density 4,419.00/sq. mi (1,706.16/km2)
  • Metro 5,564,635

Rent Survey - Cooper City

The following are rent surveys for 2-bedroom apartments in Cooper City. We invite you to utilize the rent surveys provided below in researching your investment property or a prospective purchase.

That being said, if you're considering selling or acquiring a residential investment property it's best to get the most up-to-date information to support your decision. In this case, please contact Peter Dacko for a complementary Proposal to Market. This Proposal to Market will include the most current rent surveys and other information complied specifically for your subject property.

Cooper-City-Mid-Core-Residential-Rent-Survey

Comparable Sales - Cooper City Multi-Family Investment Properties

The following document is a comparable sales sheet for multi-family investment properties of 2-4 units in the Cooper City, Florida Area.

Why Comparable Sales?

The market or direct sales comparison approach is a strategy to estimate the of value of a property. In this approach we undertake a process of comparing market data - that is, prices paid for similar properties, prices asked by owners, and offers made by prospective buyers or the tenants willing to buy or lease.

Typically a comparison grid is used and adjustments are made to each comparable sale used for major differences between the comparable and the subject property. These adjustments are made for factors like location, construction quality, and significant amenities. In this approach (the market/direct sales approach), the attempts are made to both gauge and reflect the anticipated reaction by a typical purchaser to the subject property. 

Taking this approach can sometimes have beneficial outcomes for the estimated value of your property as compared to other appraisal strategies. As a broker, it's my job to establish the best value I can in any property I bring to market. That's why I spend the time to create comparable sales sheets and establish the value of my client's property.

What are Comparable Sales?

When I research comparable sales, I'm researching properties that are similar to a subject property in most respects. I do this research for each subject property that I'm considering taking to market. I determine if another property is a comparable sale if

  1. The property is located in a nearby location.
  2. If it has recently sold for a fair market value.
  3. It has other pertinent characteristics that are similar to the subject property.

The selection of comparable sales is in most appraisals is the single most determining factor in establishing the value of the property. It is essential to fully research the local real estate market and determine which comparable sales represent the best value characteristics of the subject property. 

Cooper-City-Mid-Core-Residential-Comparable-Sales

If you're interested in receiving the most up-to-date rent surveys and comparable sales for your subject property, please contact me for a complementary Proposal to Market. My firm, Media Realty enables our clients to maximize their net returns by providing the best information. This allows our clients to make the most educated decision in a timely manner. Let us create value for you!

The information contained herein is not a substitute for a thorough due diligence investigation. Media Realty has not made any investigation, and makes no warranty or representation, with respect to the income or expenses for the subject property, the future projected financial performance of the property, the size and square footage of the property and improvements, the presence or absence of contaminating substances, PCB's or asbestos, the compliance with State and Federal regulations, the physical condition of the improvements thereon, or the financial condition or business prospects of any tenant, or any tenant’s plans or intentions to continue its occupancy of the subject property.  The information has been obtained from sources we believe to be reliable; however, Media Realty has not verified, and will not verify, any of the information contained herein, nor has Media Realty conducted any investigation regarding these matters and makes no warranty or representation whatsoever regarding the accuracy or completeness of the information provided. All potential buyers must take appropriate measures to verify all the information set forth herein.