Remodeled Condo in Lake
948 BIRD BAY COURT 206 Lake Mary, FL 32746
For Sale
$214,900
Pending
Updated condo with modern finishes, convenient location, and affordable HOA.
Property Size1,055 SF
Lot Size0.02 Acres
Days on Market532
Property Features for 948 BIRD BAY COURT 206
General Information
- Standard status
- Pending
- Size
- 1,055 SF
- Lot size
- 0.02 Acres
- Property subtype
- Condo/Townhome
Building Details
- Year Built
- 1985
Listing Agency:
EXP REALTY LLC
(407) 739-5586
Listed By:
Bobby Davidowitz · License #3145134
(407) 739-5586
Source:
Exitrealty
Added: Feb 7, 2025
Changed: Jul 6
Last Checked: Jul 23 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 EXP REALTY LLC
Investment Insights
Based on property information with market context.
This 1,055 square foot condo in Lake Mary has been fully remodeled. The property features new cabinets, luxury vinyl plank flooring, quartz countertops, and stainless steel appliances. A new AC and a new water heater have also been installed. The layout includes a downstairs master suite and a full bath for each bedroom, providing privacy and convenience. Located in Hidden Village Condos, the property offers access to I-4, top-rated schools, and dining options. The community has an affordable HOA.
Key Highlights
- Fully remodeled with new cabinets, LVP flooring, quartz countertops, stainless steel appliances, new AC, and new water heater.
- Downstairs master suite and full bath for each bedroom.
- Located in Lake Mary with easy access to I‑4, top‑rated schools, and great dining.
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 | $25.2k | $23.88 |
| − Vacancy | −$1.6k | −$1.55 |
| EGI | $23.6k | $22.33 |
| − OpEx | −$10.6k | −$10.05 |
| NOI | $13.0k | $12.28 |
1,055 SF · lease $23.88/SF/yr · vacancy 6.50% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$185.1K
$162.0K – $215.9K
NOI $12,956 @ 7.0% cap · market cap 6.03%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$300.2K
$262.7K – $350.3K
NOI $21,016 @ 7.0% cap · market cap 9.78%
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
FAQs
What type of property is this?
Residential income property - Updated condo with modern finishes, convenient location, and affordable HOA.
Where is this residential income property located?
The property is located at 948 BIRD BAY COURT 206 Lake Mary, FL.
What is the asking price?
The asking price for this property is $214,900.
What are key features of this property?
This property features: Fully remodeled with **new cabinets, LVP flooring, quartz countertops, stainless steel appliances, new AC, and new water heater.**; Downstairs master suite and full bath for each bedroom.; Located in Lake Mary with easy access to I‑4, top‑rated schools, and great dining.
