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$585,000

For Sale - Active
462 Devon Pl, Heathrow, FL 32746
3 Beds
3 Baths
2,442 Square Feet
0.08 Acres Lot
Built in 1986
For Sale - Active
Units n/a
Checked: 5 hours ago
Updated: Sep 04, 2025 at 10:06AM

Investment Summary


Monthly Cash Flow
-$1,430
Cap Rate
3.2%
Cash-on-Cash Return
-12.8%
Debt Coverage Ratio
0.52
Internal Rate of Return (5 years)
-8.3%

Property Description


0.08 Acres Lot
Built in 1986
For Sale - Active
Units n/a

Carefree Golf Front Living in Heathrow’s Desirable Devon Green. Discover effortless elegance in this beautifully updated townhome, with brand new windows (June 2025) perfectly positioned along the 17th hole of Heathrow’s premier golf course with stunning water and sunset views. Nestled beneath oak-canopied streets in the exclusive Devon Green neighborhood, this home offers the ultimate in low-maintenance luxury—lawn care is included, and you're just a quick ride by car or golf cart to The Club at Heathrow. This spacious 3-bedroom, 3-bath home has been thoughtfully renovated to elevate both comfort and style. Rich wood flooring flows throughout, accented by detailed crown molding and classic plantation shutters. The gourmet kitchen is a chef’s dream, featuring double wall ovens, a warming drawer, and expansive sightlines to the dining and family rooms—ideal for entertaining. Enjoy serene mornings or golden-hour evenings from the oversized screened lanai, where panoramic views of the golf course and water create a peaceful retreat. The first-floor bedroom is currently used as an office, offering flexibility for guests or work-from-home needs. Upstairs, dual primary suites each boast en-suite baths with jetted tubs for spa-like relaxation. Residents of Heathrow enjoy a lifestyle second to none, with two 24-hour manned gates, beautifully maintained grounds, and access to Lake Sawyer Park. Minutes from top-tier shopping, dining, trails, and major highways, Heathrow offers the perfect balance of privacy and convenience—close to the beaches, theme parks, and both Orlando airports.

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Location


Property Details


Parking

  • Description: Garage
  • Details: Attached
  • Garage Spaces: 2
  • Spaces Total: 0

Bedroom Information

  • # of Bedrooms: 3

Bathroom Information

  • # of Baths (Full): 3
  • # of Baths (Total): 3.0

Interior Features

  • # of Rooms: 8
  • # of Stories: 2
  • Fireplace: Yes

Exterior Features

  • Exterior Walls Materials: Stucco
  • Foundation: Slab
  • Roof Type: IRR/Cathedral
  • Roof Material: Tile

HOA

  • Has HOA: Yes
  • Association: Deanna Sims
  • HOA Fee: $650/quarterly
  • Additional Association: Sentry Management
  • Additional HOA Fee: $438/quarterly

Land Information

  • Land Use: Residential
  • Land Use Subtype: Single Family Residential

Lot Information

  • Parcel ID: 12202950500000040
  • Lot Size: 3381 sqft

Property Information

  • Property Type: Townhouse
  • Year Built: 1986

Tax Information

  • Annual Tax: $6,649

Utilities

  • Water & Sewer: Public
  • Heating: Central, Electric
  • Cooling: Central Air

Location

  • County: Seminole

Listing Details


Listed by:
Sarah Tomlinson
COMPASS FLORIDA LLC
(407) 721-7823

Source:
Stellar MLS
MLS#: O6325107
Stellar MLS

Investment Summary


Monthly Cash Flow
-$1,430
Cap Rate
3.2%
Cash-on-Cash Return
-12.8%
Debt Coverage Ratio
0.52
Internal Rate of Return (5 years)
-8.3%

Purchase Details

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Purchase price:
$585,000
Amount financed:
-$468,000
Down payment:
$117,000
Closing costs:
$17,550
Rehab costs:
$0
Initial cash invested:
$134,550
Square feet:
2,442
Cost per square foot:
$240
Monthly rent per square foot:
$1.47

Financing Details

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Loan amount:
$468,000
Loan to value ratio:
80.0%
Loan type:
Amortizing
Term:
30 years
Interest rate:
6.625%
Principal & interest:
$2,997
Property tax:
$554
Insurance:
$252
Private mortgage insurance (PMI):
$0
Monthly payment:
$3,803

Operating Income

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% Rent Monthly Yearly
Gross rent:
$3,600 $43,200
Vacancy loss: (6%)
6% -$216 -$2,592
Operating income:
$3,384 $40,608

Operating Expenses


% Rent Monthly Yearly
Property taxes: (15%)
15%-$554-$6,649
Insurance: (7%)
7%-$252-$3,024
Property management: (8%)
8%-$288-$3,456
Repairs & maintenance: (5%)
5%-$180-$2,160
Capital expenditures: (5%)
5%-$180-$2,160
HOA fees: (10%)
10%-$363-$4,356
Total operating expenses: (50%)
50%-$1,817-$21,805

Cash Flow


Monthly Yearly
Net operating income:
$1,567 $18,804
Mortgage payments:
-$2,997 -$35,964
Cash flow:
$1,430 $17,160