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Lakefront Condo in Gated Community

2120 HERON LAKE DRIVE 208 Punta Gorda, FL 33983

2120 HERON LAKE DRIVE 208, Punta Gorda, FL, 33983
$219,900
For Sale
Claim this Listing
$219,900

Move-in-ready, 3-bedroom condo with lake views in Punta Gorda.

Property Size1,293 SF
Lot Size0.03 Acres
Price / SF$170.07
AddedFeb 13, 2024
Days on Market882
Last RefreshMay 19 at 11:13 pm

Property Features for 2120 HERON LAKE DRIVE 208

General Information

Standard status
Active
Size
1,293 SF
Lot size
0.03 Acres
Property subtype
Condo/Townhome

Building Details

Year Built
2006

Listing office COMPASS FLORIDA

Listing date Feb 13, 2024

Source Exitrealty

Displayed information is deemed reliable but is not guaranteed and should be independently verified.

All listing content including descriptions, pricing, images are the copyrighted material of COMPASS FLORIDA


Investment Insights

Based on property information with market context.

This move-in-ready, second-floor condo features 3 bedrooms and 2 bathrooms, situated in the gated community of Heritage Lake Park in Punta Gorda. A brand new HVAC system has been installed. The interior has been recently repainted and new carpeting laid. The property offers southeastern exposure with views of the lake. The open floor plan features neutral decor, a living room with a triple slider leading to a balcony, and a kitchen with ample counter space, cabinetry, a casual dining space, and a breakfast bar. The primary suite includes a large window for natural light, a walk-in closet, and a private bath with dual sinks and a walk-in shower. There are two guest bedrooms, a full guest bath, and a laundry closet. The screened lanai overlooks the lake. Covered assigned parking and guest parking are available. The association is scheduled to replace the carport within 60 days. Heritage Lake Park is a resort-style community with a heated pool, clubhouse, tennis courts, a fitness center, and landscaped grounds. The property is located close to restaurants, shopping, schools, and golf, and is a short drive to downtown historic Punta Gorda, offering community events and entertainment. It also provides easy access to SWFL beaches. The property size is 1293 square feet.

Key Highlights

  • Lakefront condo with breathtaking sunrise views
  • Brand new HVAC system
  • 3 bedroom, 2 bath condo in gated community

Local Financial Insights For Apartment 5plus

Simulate Cap Rate and NOI

NOI Build-Up
Vacancy
income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
EGI (Effective Gross Income)
gross rent minus vacancy losses — the realistic income before paying operating costs.
OpEx (Operating Expenses)
recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
NOI (Net Operating Income)
income a property generates after operating costs but before financing and taxes.

Component $ $/SF
Gross rent $25.9k $20.04
− Vacancy −$5.2k −$3.99
EGI $20.8k $16.05
− OpEx −$9.3k −$7.22
NOI $11.4k $8.83
1,293 SF · lease $20.04/SF/yr · vacancy 19.90% · expense 45.00%

Alternative Uses

Best Use
Apartment 5plus
$163.1K
$142.7K – $190.3K (±1% cap)
NOI $11,415 @ 7.0% cap · market cap 5.19%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$423.4K
$370.5K – $493.9K (±1% cap)
NOI $29,636 @ 7.0% cap · market cap 13.48%
Zoning and permitted uses should be independently verified with local authorities.

Property Analytics

Property Profile Location Intelligence

Current Use by Public Records

Residential income properties

Suggested Use

Law Firm Restaurant Real Estate Agency Auto Repair Shop Nail Salon Spa & Massage Center Kitchen & Bath Showroom Skin Care Clinic Grocery & Convenience Store Daycare Center

Zoning and permitted uses should be independently verified with local authorities.

FAQs

What type of property is this?
Residential income property - Move-in-ready, 3-bedroom condo with lake views in Punta Gorda.
Where is this residential income property located?
The property is located at 2120 HERON LAKE DRIVE 208 Punta Gorda, FL.
What is the asking price?
The asking price for this property is $219,900.
What are key features of this property?
This property features: Lakefront condo with breathtaking sunrise views; Brand new HVAC system; 3 bedroom, 2 bath condo in gated community
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