Renovated Condo with Lake
1150 CARMEL CIRCLE 201 Casselberry, FL 32707
1150 CARMEL CIRCLE 201, Casselberry, FL, 32707
$239,900
Pending
For Sale
$239,900
Pending
Move-in ready condo with lake access and modern amenities.
Property Size1,615 SF
Lot Size0.01 Acres
Days on Market662
Property Features for 1150 CARMEL CIRCLE 201
General Information
- Standard status
- Pending
- Size
- 1,615 SF
- Lot size
- 0.01 Acres
- Property subtype
- Condo/Townhome
Building Details
- Year Built
- 2002
Listing agency
EDISON REAL ESTATE SERVICES
(407) 359-0640
Listed by
Sal Luccisano · License #3174359
(407) 359-0640
Source
Exitrealty
Added: Sep 28, 2024 Updated: Jul 6 at 12:05PM Checked: Jul 21 at 5:26AM
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 EDISON REAL ESTATE SERVICES
Investment Insights
Based on property information with market context.
This renovated condo offers stress-free Florida living with access to the 400-acre Lake Howell for boating, fishing, kayaking, and sailing. Residents can also enjoy a tennis court, pickleball court, a large pool with a hot tub, and a large clubhouse that can be reserved for private gatherings. The 1,615 sq ft corner unit features two bedrooms and two full baths and is filled with natural light. The kitchen and both bathrooms have new granite, cabinets, and flooring. New appliances and a hot water heater have been installed. Built in 2002, this unit is located in the newest building of the development and includes assigned indoor car parking. A new roof was recently added. The monthly HOA fee covers upkeep of the common amenities and grounds, as well as water, trash, cable, and internet. A new dock is planned as of September 2025. The property is located just off SR 436, close to shopping and restaurants, and is zoned for Seminole County schools. It is 35 minutes from Disney and Orlando International Airport and close to Winter Park train service.
Key Highlights
- Access to 400‑acre Lake Howell for boating, fishing, kayaking, and sailing.
- Fully renovated, move‑in ready 2‑bedroom, 2‑bath, 1,615 sq ft corner unit condo.
- Comprehensive HOA covers amenities, grounds upkeep, water, trash, cable, and internet.
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 | $38.6k | $23.88 |
| − Vacancy | −$2.5k | −$1.55 |
| EGI | $36.1k | $22.33 |
| − OpEx | −$16.2k | −$10.05 |
| NOI | $19.8k | $12.28 |
1,615 SF · lease $23.88/SF/yr · vacancy 6.50% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$283.3K
$247.9K – $330.6K
NOI $19,833 @ 7.0% cap · market cap 8.27%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$459.6K
$402.1K – $536.2K
NOI $32,171 @ 7.0% cap · market cap 13.41%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Carmel By the Lake ...
Real Estate Agency
Similar For Sale Nearby
FAQs
What type of property is this?
Residential income property - Move-in ready condo with lake access and modern amenities.
Where is this residential income property located?
The property is located at 1150 CARMEL CIRCLE 201 Casselberry, FL.
What is the asking price?
The asking price for this property is $239,900.
What are key features of this property?
This property features: Access to 400‑acre Lake Howell for boating, fishing, kayaking, and sailing.; **Fully renovated, move‑in ready 2‑bedroom, 2‑bath, 1,615 sq ft corner unit condo.**; Comprehensive HOA covers amenities, grounds upkeep, water, trash, cable, and internet.
