Indian Lake Unit 368 went under contract in just ten days! This two bedroom Destin Florida condo had several showings and was sold fast! The unit had a long-term renter with monthly gross income of $1200. The return on investment was quite attractive to the new owner. The quarterly homeowners association dues (HOA dues, also referenced as “condo association dues”) at Indian Lake for this two bedroom 1090 square foot condo are $804. The condo lease is currently is under professional management. Amenities at Indian Lake include an in-ground pool, clubhouse, fitness center and playground. Indian Lake was originally built as an apartment complex in 1999, then converted into condominiums a few years later. The complex has one, two and three bedroom units and there are just under 300 condos in the project.
One item of note for purchasers of an Indian Lake condo in Destin Florida is that the association is discussing an upcoming special assessment. Nothing has been finalized as of this writing, but a formal study into water intrusion behind building walls has been made by an engineering firm. If you are buying an Indian Lake unit, be sure to ask for the details and a copy of the report.
So far this year, 14 Indian Lake condos have sold at an average sale price of $124,493. There are two units under contract, and ten for sale, ranging in price from $89,900 to $154,900. The list price for this unit was $109,900 and was reduced to $99,900 for a quick sale. The sale price will be revealed once the condo closes, in about two weeks.
4020 Dancing Cloud Court, Unit 368, Indian Lake Destin Florida
Watch the virtual tour.
It’s Wendy… It’s Sold!
Wendy Rulnick, Broker, Rulnick Realty, Inc.
Call 850-650-7883 ext 204
Email Wendy: [email protected]
Wendy Rulnick, Broker, sells real estate in Destin, Santa Rosa Beach, 30A, Miramar Beach, Seagrove Beach, Watercolor, Sandestin, Seaside, Rosemary Beach, Fort Walton Beach, Niceville, Bluewater Bay, Navarre, Florida.