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    Altamonte Springs Condo Investment Title is generated by Realmo AI

    950 LAKE DESTINY ROAD E, Altamonte Springs, FL 32714

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    For Sale
    $130,000

    Renovated one-bedroom condo in waterfront community, currently rented.

    Type:Condo/Townhome
    Property size:
    462 SF
    Price / SF:
    $281/SF
    Added:
    Mar 24, 2026
    Days on Market:
    73
    Last Refresh:
    Apr 5 at 11:48 pm

    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

    We can help!

    Listing Contact
    Mayolet Bornas Moreira

    Listing agent Mayolet Bornas Moreira License #3273471

    Listing office MAYOLET REALTY LLC

    Listing date Mar 24, 2026

    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 MAYOLET REALTY LLC

    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.
    • Excellent location in the heart of Altamonte Springs, close to shopping, restaurants, I‑4, 436, Altamonte Mall, and Uptown Altamonte.
    • Brand new A/C (2025).
    • Low HOA fee.

    Overview

    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.
    Location Intelligence

    Current Use by Public Records

    Residential income properties

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Daycare Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Altamonte Springs
    County
    Seminole
    State
    Florida
    Longitude
    -81.3892449
    Latitude
    28.6409195

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    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.
    (407) 491-4893
    We can help!
    Listing Contact
    Mayolet Bornas Moreira
    Real Estate License ID: 3273471
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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    950 LAKE DESTINY ROAD E, ALTAMONTE SPRINGS, FL 32714
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