5550 E MICHIGAN STREET 2309 Orlando, FL 32822
Well-maintained condo with resort-style amenities and convenient location.
Property Features for 5550 E MICHIGAN STREET 2309
General Information
- Standard status
- Active
- Size
- 1,024 SF
- Lot size
- 8.85 Acres
- Property subtype
- Condo/Townhome
Building Details
- Year Built
- 2005
Listing office KELLER WILLIAMS ADVANTAGE REALTY (407) 922-5936
Listing date Jun 30, 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 KELLER WILLIAMS ADVANTAGE REALTY
Investment Insights
Based on property information with market context.
Key Highlights
- Easy owner financing available at 4.9% with $35k down.
- Enjoy resort‑style amenities including two pools, spas, park, clubhouse, and fitness center.
- HOA includes Internet, Cable TV, Grounds Maintenance, Pest Control, Water, Trash, & Sewer.
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 | $25.8k | $25.20 |
| − Vacancy | −$1.8k | −$1.76 |
| EGI | $24.0k | $23.44 |
| − OpEx | −$10.8k | −$10.55 |
| NOI | $13.2k | $12.89 |
