CENTURY 21 Edge
$229,9001 bd2 ba1,109 sqft$207 /sqft≈$1,935 /mo all-in ↓

400 E COLONIAL DRIVE UNIT 508, ORLANDO, FL, 32803

Active48 days on marketListed Sep 3, 2026MLS #O6438577

✦ Priced 50% below the ORLANDO 32803 medianCondominiumPARK LAKE TOWERS

About this home

400 E COLONIAL DRIVE UNIT 508

Welcome to Park Lake Towers, where high-rise convenience meets everyday comfort in the heart of downtown Orlando. This spacious 1,109 SF, 1-bedroom, 2-full-bath residence on the 5th floor offers a rare layout with true potential—easily converts into a 2-bedroom, 2-bath home with the simple addition of one wall, giving each bedroom its own private bath. The oversized primary suite is a standout, featuring two walk-in closets, a separate sink vanity area, and a private soaking tub with a separate shower. Storage abounds throughout the unit, with generous closet space at nearly every turn, including a welcoming foyer entry with its own front closet. The open living room flows seamlessly to a private, walk-out balcony facing east, perfect for morning coffee, while a dedicated dining space just off the kitchen makes everyday living and entertaining effortless. A deeded parking space is included, and while there's no in-unit laundry, the building offers a convenient laundry room on every floor. Residents enjoy an impressive lineup of amenities including a resort-style pool, fitness center, recreation room, business center, ample meeting space, onsite management, and elevator access—with HOA dues covering it all, including water, trash, sewer, pest control, cable, and internet, for truly all-inclusive living. Tucked in a quiet, private setting just minutes from downtown Orlando, Lake Eola, Thornton Park, and premier shopping, this pet-free building offers an unbeatable location paired with low-maintenance luxury. With a motivated seller ready to make a deal, this is an incredible opportunity to own a unit brimming with potential in one of downtown Orlando's most convenient addresses.

Facts & features

The home at a glance

1

Bedrooms

2

Bathrooms

1,109

Sqft

0.28 ac

Lot size

1975

Year built

One

Levels

$207

Per sqft

City view

Inside

FlooringCarpet · Tile
AppliancesDishwasher · Disposal · Range · Range Hood · Refrigerator
InteriorOpen Floorplan · Thermostat · Walk-In Closet(s) · Window Treatments
LaundryCommon Area
CoolingCentral Air
HeatingCentral · Electric

Outside & construction

RoofOther
ConstructionBlock · Stucco
FoundationOther
ViewCity
FacesNorth
ExteriorBalcony · Sliding Doors

Community & fees

Taxes (2025)$1,138/yr
PetsNo
CommunityBuyer Approval Required · Community Mailbox · Fitness Center · Pool

Utilities & systems

UtilitiesCable Connected
WaterPublic

The numbers

What it really costs

Built from this home's actual numbers — the most recent property-tax bill on record — not generic estimates.

$1,935 /mo · 3.5% down FHA, 30-yr fixed at 7.5%

Principal & interest$1,578
FHA mortgage insurance (est.)$102
Property tax — 2025 actual bill$95
Insurance (FL estimate)$160

The assumptions

Loan typeFHADown payment3.5% · $8,047Loan30-yr fixed at 7.5%Mortgage insuranceIncludedTaxesActual bill on recordInsuranceFlorida estimate

FHA is the default here because it gets you in the door with just 3.5% down. Switch to Conventional or VA below.

These numbers assume a generic buyer — your credit, down payment and loan program change them. Get the real quote in minutes:

Andrew Acosta

Andrew Acosta

Acosta Home Loans with PRMG · NMLS #1468866

Run your own numbers

Loan type
Down payment3.5% · $8,047
Interest rate7.50%
Loan term

Estimated payment

$1,935/mo

Principal & interest$1,578
FHA mortgage insurance (est.)$102
Property taxes (actual bill)$95
Est. insurance$160

Includes FHA mortgage insurance and the financed 1.75% upfront premium. Taxes reflect the most recent bill on record; insurance is a typical-Florida estimate. Your lender’s numbers will differ. CENTURY 21 Edge partners with Florida’s best lenders.

Can I afford this home? → See what you can comfortably afford from your income, debts and savings.

Value check

Is the price right?

The internet’s favorite home-value number comes from a single automated model that has never seen the street, the finishes, or the view — which is why it routinely misses by tens of thousands of dollars. The edgeAI estimate combines multiple independent data sources with our team’s on-the-ground expertise in this exact market.

List $230K
$221KedgeAI estimate $317,379 · range $286K–$349K$363K

vs edgeAI estimate

−27.6%

$/sqft vs Orlando actives

$207 vs $237

Days on market

48 vs 61 typical

Where $207/sqft sits among the 400 Orlando actives

99
138 · this home
92
35
10
26
$129–192$192–254$254–317$317–379$379–442$442+

The edgeAI estimate is a starting point, not an appraisal or a broker price opinion. It is generated from public records, listing data and market modeling, and is subject to change once a licensed real estate professional personally inspects the property. Condition, floor, view and lot are not fully captured by any model — ask us for a full comparative market analysis.

Where it sits

Inside Lake Eola Heights

Drive times from this address

Downtown Orlando≈ 4 min
Universal Orlando≈ 17 min
Orlando Int’l Airport (MCO)≈ 24 min
Walt Disney World≈ 29 min

Estimated driving times, typical traffic. Data © OpenStreetMap contributors.

Get to know Orlando. See the full Orlando guide →

Lake Eola Heights — neighborhood snapshot

Population

1,986

Median age

36

Median income

$118,988

Median home value

$489,194

Avg household

2

Households w/ children

96%

For the school run

Orange County School District

ElementaryHillcrest Elementary★★★★★
ElementaryLake Como School★★★★★
HighEdgewater High★★★★★

School assignments and ratings via edgeAI — always verify with the district.

The numbers that matter

The Orlando market

Seller’s marketLeans seller — 4.7 months of inventoryBuyer’s market

$400K → $395K

Orlando median sold, yr/yr

97.1%

Sale-to-list ratio (12 mo)

209 of 400

Orlando actives have cut their price

Median sold price, Orlando, trailing 36 months (3-month rolling) · live MLS data.

This home is listed 50% below the ORLANDO 32803 median. See the full Orlando market guide →

Paper trail

This home's history

Sep 3, 2026Listed at $229,900 · 48 days on market since
1975Built · PARK LAKE TOWERS

Reality check

What actually sold near 400 E COLONIAL DRIVE UNIT 508

Asking prices are opinions — closed sales are facts. The most comparable homes that actually changed hands nearby in the last twelve months.

400 E COLONIAL DRIVE UNIT 402Sold · Oct ’26

$305,000

400 E COLONIAL DRIVE UNIT 402 · same community

2 bd · 2 ba · 1,189 sqft · $257/sqft · 21 DOM

400 E COLONIAL DRIVE UNIT 910Sold · Apr ’26

$187,500

400 E COLONIAL DRIVE UNIT 910 · same community

1 bd · 1 ba · 799 sqft · $235/sqft · 250 DOM

204 E SOUTH STREET UNIT 6058Sold · Apr ’26

$194,000

204 E SOUTH STREET UNIT 6058

2 bd · 2 ba · 1,115 sqft · $174/sqft · 30 DOM

Closed-sale data from the MLS, last 12 months, selected for similarity in size and location. No two homes are identical — ask us for a full comparative analysis.

Your home team

The pros in your corner

Buying a home is two conversations — the home and the money. Here’s who handles each, side by side, already working together.

Kathy Miller

Your agent

Kathy Miller

real estate agent · CENTURY 21 Edge

Tours, negotiation, and every question about 400 E COLONIAL DRIVE UNIT 508 — start here.

Andrew Acosta

Your lender

Andrew Acosta

Acosta Home Loans with PRMG · NMLS #1468866

Pre-approval, rates, and the real monthly number for 400 E COLONIAL DRIVE UNIT 508 — before you fall in love.

See it in person

Schedule a tour

Live availability from Kathy's calendar — pick a time and it's booked. Confirmation lands in your inbox immediately.

Straight answers

400 E COLONIAL DRIVE UNIT 508 FAQs

What would the monthly payment be for 400 E COLONIAL DRIVE UNIT 508?+

With 3.5% down on a 30-year FHA loan at 7.5%, the all-in payment lands around $1,935/mo — principal and interest, the actual property-tax bill and typical Florida insurance. The payment calculator on this page lets you switch loan type (FHA, Conventional, VA) and adjust the down payment, rate and term.

What are the property taxes on 400 E COLONIAL DRIVE UNIT 508?+

The most recent tax bill on record (2025) was $1,138. A new owner's bill can differ once the sale price resets the assessed value — we can walk you through what to expect.

Are pets allowed at 400 E COLONIAL DRIVE UNIT 508?+

The listing reports pets: No. Communities often layer on breed or weight rules — we'll verify the specifics with the association before you commit.

How does the price compare to other homes in Orlando?+

At $229,900, this home is listed about 39% below the Orlando median of $379,900. The market section on this page shows how the area is trending.

Which schools are assigned to 400 E COLONIAL DRIVE UNIT 508?+

Hillcrest Elementary (elementary), Lake Como School (elementary), Edgewater High (high) — Orange County School District. Always verify school assignments with the district before relying on them.

The brief

Three things that matter here

01Under the ORLANDO 32803 market on paper

$229,900 is 50% below the ORLANDO 32803 median of $459,950, and at $207/sqft it sits under the Orlando average of $260.

02City views

The city view is part of what you're buying — views hold value independently of the structure.

03Strong assigned schools

Hillcrest Elementary, Lake Como School, Edgewater High — Hillcrest Elementary rates 5 of 5. Always verify assignments with the district.

Listing courtesy of KELLY PRICE & COMPANY LLC · Kelly Price. MLS #O6438577.

IDX information is provided exclusively for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data is deemed reliable but is not guaranteed accurate by Stellar MLS.

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