948 Lake Destiny Rd Unit H · Altamonte Springs, FL 32714

$89,000

1 bd · 1.0 ba · 462 sqft · Condo public records · 31 Days on market

Built 1973 $262/mo HOA · 17% of rent

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Why this score? — see what drove the B grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +5.1/10.0
• Livability +4.1/5.0
• Condition / age +2.5/5.0
• Rent growth +2.3/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Multiple Offers Highest and Best by 2:00 pm April 28,2025. Welcome to Destiny Springs Condominium Complex located in Altamonte Springs. This studio condo is priced to sell and is awaiting it's new owner to transform this unit into a showplace. This second floor condo has a newer AC unit and a newer range and dishwasher. Cozy unit featuring: a separate kitchen, dinning area and living/bedroom area. Bring your creative ideas and imagination to re -do this home and make it yours. This complex offers: Two Swimming Pools, Tennis Court, Clubhouse and lakeside living! Conveniently located this home is close to Maitland Center, Restaurants, Shopping, Medical and minutes from 1-4 and the 414. Call to see this home today !

Key facts

• Lake destiny
• Access to 2 pools
• Freshly remodeled

Tags

• FRESHLY REMODELED
• ACCESS TO 2 POOLS
• LAKE DESTINY

Property features AI

Finance

• Other: Residential condominium; Zoning: MOR-1; Has additional parcels
• HOA & community: Has HOA; Pool included in association amenities; Buyer approval required; Pets not allowed; No association fee listed; approval required for association

Exterior

• Utilities: Public sewer; Cable available; Electricity available; No water source listed
• Home design: Condominium; One-story (unit on floor 2 in a two-level building); Building named DESTINY; Faces west
• Construction: Shingle roof; Other foundation
• Exterior features: Balcony; Asphalt road access

Interior

• Kitchen: Dishwasher; Disposal; Microwave; Range; Refrigerator
• Bedrooms: 1 bedroom
• Flooring: Laminate; No elevator in building
• Bathrooms: 1 full bathroom
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Ceiling fans
• Laundry & utility: Laundry area outside / other

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $89k.

Deal economics

• At list price, monthly cash flow is $361 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $89k).
• Recommended offer: $86k (3.0% below list) — sets the bar for market timing.
• Cap rate 11.2% vs local median 3.4% in Altamonte Springs — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 82/100 on livability (#62 in FL, #1,095 nationally) — a professional / high-income tenant draw. Strengths: commute A+, cost of living A+, housing A+; Watch: employment C-, crime D+, amenities D-.
• Seminole (suburban): math 57% / reading 61% proficiency, ranked #13 of 73 in FL (top 18%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents soft (-0.8%/yr); 257 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals leasing fast (median 8d on market — plan ~1-2 weeks tenant-placement turnaround); 1,979 units permitted in Seminole County in 2024 (1,191 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $615 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Seminole County population projected at +24% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 31 days — a 3% lower offer ($86k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts; this cycle's ask is 8376% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $50k; list at $89k implies a 78% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $86,330 (3.0% below list)

Questions for the listing agent

1. It's been on market 31 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1973 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
7. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
8. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
9. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.76% ✓
• Cap rate: 11.16%
• Cash-on-cash: 17.38%
• DSCR: 1.77
• GRM: 4.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: 4.5%
• Equity multiple: 1.17×
• Total profit: $4,159
• Equity at exit: $13,270

10-year hold

• IRR: 10.1%
• Equity multiple: 1.65×
• Total profit: $16,225
• Equity at exit: $7,695

Cash invested: $24,920 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 87 Strongly Landlord-Friendly
• State Florida: 87 Strongly Landlord-Friendly · R+3
• County: — inherits STATE
• City: — inherits STATE

3-day pay-or-quit; preempts local rent control; landlord-friendly statutes. Court speed varies by county.

Methodology + full state rankings →

ZIP-level market 32714

• Rents YoY: -0.8%
• Active inventory: 257
• Price-to-rent: 4.7×

Monthly cashflow live

• Estimated rent: $1,567 medium
• Mortgage (P&I): −$467
• Tax est. 1.5%: −$111 /mo · $1,335/yr
• Insurance: −$37
• HOA: −$262
• Vacancy / Maint / Mgmt: −$329
• Net cashflow: $361

Break-even live

Break-even rent $1,110

Max offer price $89,000

Occupancy floor 72%

Sensitivity live

Price	-10% $422	-5% $392	+0% $361	+5% $330	+10% $299
Rent	-10% $237	-5% $299	+0% $361	+5% $423	+10% $485
Rate	-1.0pp $406	-0.5pp $384	base $361	+0.5pp $338	+1.0pp $314

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $22,250
• Closing costs: $2,670
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1776 Pembrook Dr Orlando, FL	—	1.0	300	$1,889	$6.30	8d	1	0.93mi
1760 Pembrook Dr Orlando, FL	—	1.0	300	$1,499	$5.00	15d	1	0.93mi
1951 Summit Tower Blvd Orlando, FL	—	1.0	300	$1,589	$5.30	8d	1	0.93mi
302 Northlake Blvd Altamonte Springs, FL	—	1.0	300	$1,799	$6.00	5d	1	1.12mi

HOA detail condo

• Monthly dues: $262 · $3,144/yr
• Likely covers: pool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 27 events

1. 2026-06-18
   days on market $89,000 Active 31 DOM
2. 2026-06-17
   days on market $89,000 Active 30 DOM
3. 2026-06-16
   days on market $89,000 Active 29 DOM
4. 2026-06-15
   days on market $89,000 Active 28 DOM
5. 2026-06-13
   days on market $89,000 Active 26 DOM
6. 2026-06-10
   price $89,000 Active 22 DOM
7. 2026-06-09
   days on market $90,000 Active 22 DOM
8. 2026-06-08
   days on market $90,000 Active 21 DOM
9. 2026-06-07
   days on market $90,000 Active 20 DOM
10. 2026-06-04
    days on market $90,000 Active 17 DOM
11. 2026-06-03
    days on market $90,000 Active 16 DOM
12. 2026-06-02
    days on market $90,000 Active 15 DOM
13. 2026-06-01
    days on market $90,000 Active 14 DOM
14. 2026-05-31
    days on market $90,000 Active 13 DOM
15. 2026-05-19
    status Active
16. 2026-05-19
    price $90,000
17. 2025-10-28
    historical $995
18. 2025-10-25
    price $995
19. 2025-10-08
    listed $1,050
20. 2025-09-03
    historical $985
21. 2025-08-30
    listed $985
22. 2025-08-18
    listed $1,050 Active
23. 2025-05-23
    soldstatus $50,000 Closed 725-char remark

    Show marketing remark (725 chars)

    Multiple Offers Highest and Best by 2:00 pm April 28,2025. Welcome to Destiny Springs Condominium Complex located in Altamonte Springs. This studio condo is priced to sell and is awaiting it's new owner to transform this unit into a showplace. This second floor condo has a newer AC unit and a newer range and dishwasher. Cozy unit featuring: a separate kitchen, dinning area and living/bedroom area. Bring your creative ideas and imagination to re -do this home and make it yours. This complex offers: Two Swimming Pools, Tennis Court, Clubhouse and lakeside living! Conveniently located this home is close to Maitland Center, Restaurants, Shopping, Medical and minutes from 1-4 and the 414. Call to see this home today !

24. 2025-05-23
    soldstatus $50,000

    Show marketing remark (725 chars)

    Multiple Offers Highest and Best by 2:00 pm April 28,2025. Welcome to Destiny Springs Condominium Complex located in Altamonte Springs. This studio condo is priced to sell and is awaiting it's new owner to transform this unit into a showplace. This second floor condo has a newer AC unit and a newer range and dishwasher. Cozy unit featuring: a separate kitchen, dinning area and living/bedroom area. Bring your creative ideas and imagination to re -do this home and make it yours. This complex offers: Two Swimming Pools, Tennis Court, Clubhouse and lakeside living! Conveniently located this home is close to Maitland Center, Restaurants, Shopping, Medical and minutes from 1-4 and the 414. Call to see this home today !

25. 2025-04-28
    status Pending 725-char remark

    Show marketing remark (725 chars)

    Multiple Offers Highest and Best by 2:00 pm April 28,2025. Welcome to Destiny Springs Condominium Complex located in Altamonte Springs. This studio condo is priced to sell and is awaiting it's new owner to transform this unit into a showplace. This second floor condo has a newer AC unit and a newer range and dishwasher. Cozy unit featuring: a separate kitchen, dinning area and living/bedroom area. Bring your creative ideas and imagination to re -do this home and make it yours. This complex offers: Two Swimming Pools, Tennis Court, Clubhouse and lakeside living! Conveniently located this home is close to Maitland Center, Restaurants, Shopping, Medical and minutes from 1-4 and the 414. Call to see this home today !

26. 2025-04-25
    listed $63,500 Active 725-char remark

    Show marketing remark (725 chars)

    Multiple Offers Highest and Best by 2:00 pm April 28,2025. Welcome to Destiny Springs Condominium Complex located in Altamonte Springs. This studio condo is priced to sell and is awaiting it's new owner to transform this unit into a showplace. This second floor condo has a newer AC unit and a newer range and dishwasher. Cozy unit featuring: a separate kitchen, dinning area and living/bedroom area. Bring your creative ideas and imagination to re -do this home and make it yours. This complex offers: Two Swimming Pools, Tennis Court, Clubhouse and lakeside living! Conveniently located this home is close to Maitland Center, Restaurants, Shopping, Medical and minutes from 1-4 and the 414. Call to see this home today !

27. 1983-06-01
    soldstatus $27,900

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 8/10 Severe 7 d/yr ≥107°F today · 22 d/yr by 30 yrs out
• 💨 Wind 9/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,805
• − Mortgage interest: −$4,985
• − Property taxes: −$1,335
• − Insurance: −$445
• − Repairs & maintenance: −$1,504
• − Management: −$1,504
• − HOA: −$3,144
• − Depreciation: −$2,589
• Taxable income: $3,298
• Est. tax owed @ 24.0%: −$791
• After-tax cash flow: $3,540/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Seminole
• NCES district ID: 1201710
• Math proficiency: 57% ▼ -7.00%
• Reading proficiency: 61% ▼ -1.00%
• Median HH income: $58,478
• Composite: 51.05/100
• National rank: #1769
• State rank: #13 of 73 in FL

Livability — Altamonte Springs

• Score: 82/100
• State rank: #62
• US rank: #1095

Category grades

Amenities D- Commute A+ Cost of living A+ Crime D+ Employment C- Housing A+ Health & safety A+ User ratings A+

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Altamonte Springs, FL
• County: Seminole County · 436,154 people
• City population: 62,497
• Metro: Orlando-Kissimmee-Sanford, FL
• Population (ZIP): 37,905
• Household income: $70,955
• Rent vs Own: 49.1% rent · 50.9% own
• Severe rent burden: 1961.0

Population outlook (Seminole County) Hauer SSP2

• Today (2025): 515,494 people
• By 2030: 545,713 · +5.9%
• By 2040: 598,068 · +16.0%
• By 2050: 640,663 · +24.3%
• By 2075: 724,461 · +40.5%
• By 2100: 755,530 · +46.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.69)
• Race & ethnicity: White 43% Hispanic / Latino 31% Two or more races 17% Black 17% Asian 2%
• Hispanic origin (detail): Mexican 3% Puerto Rican 10% Cuban 3% Dominican 2%
• Common ancestry: Lithuanian 4% Hispanic 3% Scotch-Irish 2%
• Foreign-born: 18% · Canada, Jamaica, South Korea
• Languages at home: 71% English-only · Spanish 22% French/Haitian/Cajun 3% Other Indo-European 1%

Political lean MEDSL · Seminole

• 2024 margin: Toss-up / Even · D 47.6% · R 51.1% · Other 1.3%
• 2008→2024 swing: -0.8pp no change · 2008: -2.8pp · 2024: -3.5pp
• All cycles: 2024: R+3.5 2020: D+2.8 2016: R+1.6 2012: R+6.5 2008: R+2.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -200.78%
• Current HPI: 338.6894
• Rent YoY: ▼ -0.79%
• Metro: Orlando-Kissimmee-Sanford, FL
• State GDP YoY: ▲ 3.28%
• F500 in state: 36

Industry mix (Fortune 500 HQ in FL)

Industry	F500 HQs	Revenue
▸Industrial Technology	2	$29B
▸Insurance	2	$17B
▸Retail	1	$60B
▸Technology Distribution	1	$58B
▸Homebuilding	1	$35B
▸Technology Manufacturing	1	$35B

Price history

+222.6% since first listed

13 events — show timeline

• 2026-05-19 Relisted — Stellar MLS as Distributed by MLS Grid
• 2026-05-19 Price Changed $90,000 Stellar MLS as Distributed by MLS Grid
• 2025-10-28 Rental Removed $995 STELLARMLS
• 2025-10-25 Price Changed $995 STELLARMLS
• 2025-10-08 Listed for Rent $1,050 STELLARMLS
• 2025-09-03 Rental Removed $985 STELLARMLS
• 2025-08-30 Listed for Rent $985 STELLARMLS
• 2025-08-18 Listed $1,050 Stellar MLS as Distributed by MLS Grid
• 2025-05-23 Sold (Public Records) $50,000 Public Records
• 2025-05-23 Sold (MLS) $50,000 Stellar MLS as Distributed by MLS Grid
• 2025-04-28 Pending — Stellar MLS as Distributed by MLS Grid
• 2025-04-25 Listed $63,500 Stellar MLS as Distributed by MLS Grid
• 1983-06-01 Sold (Public Records) $27,900 Public Records