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$228,000

For Sale - Active
3586 N University Dr Unit U-6, Coral Springs, FL 33065
2 Beds
2 Baths
737 Square Feet
0.00 Acres Lot
Built in 1982
For Sale - Active
Units n/a
Checked: 17 hours ago
Updated: Jun 27, 2025 at 03:39AM

Investment Summary


Monthly Cash Flow
-$608
Cap Rate
2.9%
Cash-on-Cash Return
-13.9%
Debt Coverage Ratio
0.48
Internal Rate of Return (5 years)
-9.5%

Property Description


0.00 Acres Lot
Built in 1982
For Sale - Active
Units n/a

Amazing 2-bedroom, 2-bath apartment for sale in one of Coral Springs’ most sought-after locations—University Drive. This beautifully remodeled, move-in ready offers a modern open-concept layout, kitchen with stainless steel appliances and quartz countertops, and in-unit washer and dryer. Ideally situated near Whole Foods, Trader Joe’s, top restaurants, and major brand-name shops, with Sawgrass Mills Mall and Fort Lauderdale International Airport just 20 minutes away. Enjoy one assigned parking space, ample guest parking, and access to a community pool and clubhouse. Pet-friendly and loaded with amenities, this home is perfect for professionals, couples, or small families seeking a turn-key property in a prime location. Don’t miss out on this opportunity—schedule a tour today!

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Location


Property Details


Parking

  • Description: Assigned, Guest
  • Details: Assigned, Guest
  • Garage Spaces: 0
  • Spaces Total: 0

Bedroom Information

  • # of Bedrooms: 2

Bathroom Information

  • # of Baths (Full): 2
  • # of Baths (Total): 2.0

Interior Features

  • # of Stories: 2

Exterior Features

  • Pool: Yes
  • Pool Community: Yes

HOA

  • Has HOA: Yes
  • HOA Fee: $550/monthly

Land Information

  • Land Use: Residential
  • Land Use Subtype: Condominium Unit

Lot Information

  • Parcel ID: 484116AM1220
  • Lot Size: 0 sqft

Property Information

  • Property Type: Condominium
  • Year Built: 1982

Tax Information

  • Annual Tax: $3,239

Utilities

  • Heating: Central
  • Cooling: Central Air

Location

  • County: Broward

Listing Details


Listed by:
Daniela Jaramillo Escobar
LoKation
(305) 490-2210

Source:
MIAMI REALTORS MLS
MLS#: A11812266
MIAMI REALTORS MLS

Investment Summary


Monthly Cash Flow
-$608
Cap Rate
2.9%
Cash-on-Cash Return
-13.9%
Debt Coverage Ratio
0.48
Internal Rate of Return (5 years)
-9.5%

Purchase Details

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Purchase price:
$228,000
Amount financed:
-$182,400
Down payment:
$45,600
Closing costs:
$6,840
Rehab costs:
$0
Initial cash invested:
$52,440
Square feet:
737
Cost per square foot:
$309
Monthly rent per square foot:
$2.71

Financing Details

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Loan amount:
$182,400
Loan to value ratio:
80.0%
Loan type:
Amortizing
Term:
30 years
Interest rate:
6.625%
Principal & interest:
$1,168
Property tax:
$270
Insurance:
$140
Private mortgage insurance (PMI):
$0
Monthly payment:
$1,578

Operating Income

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% Rent Monthly Yearly
Gross rent:
$2,000 $24,000
Vacancy loss: (6%)
6% -$120 -$1,440
Operating income:
$1,880 $22,560

Operating Expenses


% Rent Monthly Yearly
Property taxes: (13%)
13%-$270-$3,239
Insurance: (7%)
7%-$140-$1,680
Property management: (8%)
8%-$160-$1,920
Repairs & maintenance: (5%)
5%-$100-$1,200
Capital expenditures: (5%)
5%-$100-$1,200
HOA fees: (28%)
28%-$550-$6,600
Total operating expenses: (66%)
66%-$1,320-$15,839

Cash Flow


Monthly Yearly
Net operating income:
$560 $6,720
Mortgage payments:
-$1,168 -$14,016
Cash flow:
$608 $7,296