Altamonte Springs Condo
950 LAKE DESTINY ROAD E Altamonte Springs, FL 32714
950 LAKE DESTINY ROAD E, Altamonte Springs, FL, 32714
$130,000
For Sale
$130,000
Renovated one-bedroom condo in waterfront community, currently rented.
Property Size462 SF
Price / SF$281.39
Days on Market559
Property Features for 950 LAKE DESTINY ROAD E
General Information
- Standard status
- Active
- Size
- 462 SF
- Property subtype
- Condo/Townhome
Building Details
- Year Built
- 1973
Listing agency
MAYOLET REALTY LLC
(407) 491-4893
Listed by
Mayolet Bornas Moreira · License #3273471
(407) 491-4893
Source
Exitrealty
Added: Jan 9, 2025 Updated: Jul 10 at 1:06PM Checked: Jul 22 at 7:25AM
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 MAYOLET REALTY LLC
Investment Insights
Based on property information with market context.
This renovated condo, situated in the Destiny Springs waterfront community, presents an investment opportunity in the heart of Altamonte Springs. The property features 462 sq. ft. of open living space. The unit includes ceramic tile throughout, updated kitchen cabinets and appliances, and granite countertops, along with an updated bathroom. Freshly painted, the condo is move-in ready. Sliding doors open to an open lanai. The community offers access to two pools, tennis courts, a clubhouse, on-site laundry facilities, and lake access. Located between Maitland and Altamonte Springs, the property is close to a bus line, shopping, restaurants, I-4, and 436. It is located 5 minutes from Altamonte Mall and Uptown Altamonte. The condo is currently rented at $1,150 per month, providing immediate cash flow. A new A/C unit is scheduled for 2025.
Key Highlights
- Waterfront community with lake access, 2 pools, tennis courts, and clubhouse.
- Currently rented at $1,150/month, providing immediate cash flow for investors.
- Newly renovated condo with updated kitchen featuring granite countertops, updated cabinets and appliances, and bathroom.
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 | $11.0k | $23.88 |
| − Vacancy | −$717 | −$1.55 |
| EGI | $10.3k | $22.33 |
| − OpEx | −$4.6k | −$10.05 |
| NOI | $5.7k | $12.28 |
462 SF · lease $23.88/SF/yr · vacancy 6.50% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$81.0K
$70.9K – $94.6K
NOI $5,673 @ 7.0% cap · market cap 4.36%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$131.5K
$115.0K – $153.4K
NOI $9,203 @ 7.0% cap · market cap 7.08%
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
Similar For Sale Nearby
FAQs
What type of property is this?
Residential income property - Renovated one-bedroom condo in waterfront community, currently rented.
Where is this residential income property located?
The property is located at 950 LAKE DESTINY ROAD E Altamonte Springs, FL.
What is the asking price?
The asking price for this property is $130,000.
What are key features of this property?
This property features: Waterfront community with lake access, 2 pools, tennis courts, and clubhouse.; Currently rented at $1,150/month, providing immediate cash flow for investors.; Newly renovated condo with updated kitchen featuring granite countertops, updated cabinets and appliances, and bathroom.
