605 Elm Avenue, Panama City, FL 32401

Panama City
Local realty services provided by:ERA American Real Estate
605 Elm Avenue,Panama City, FL 32401
$160,000
  • 2 Beds
  • 1 Baths
  • 609 sq. ft.
  • Single family
  • Pending
Listed by: abbott martin group, tyler southerland
Office: exp realty llc.
MLS#:1013682
Source:FL_ECAR

Price summary

  • Price:$160,000
  • Price per sq. ft.:$262.73

About this home

Turnkey income-producing opportunity in Panama City's historic Millville neighborhood! Offered at $160,000 with a long-term tenant in place at $1,650 per month, 605 Elm Avenue generates $19,800 in scheduled annual gross rent, representing an impressive approximately 12.4% gross rent yield at the asking price before expenses. For investors looking for immediate income without taking on another major renovation project, this property offers a compelling combination of existing cash flow, substantial improvements already completed, durable construction and long-term location potential. This 2-bedroom, 1-bath concrete-block home has been extensively improved while maintaining a manageable and efficient rental footprint. Updates include a newer roof, windows and flooring, updated plumbing and sewer components, renovated kitchen and bathroom, newer fixtures and lighting, appliances, attic ductwork and gas lines. The home features central air and gas heat, while the updated kitchen offers...

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Home facts

  • Year built:1950
  • Subdivision & Development:Emmons Add-Millville
  • Listing ID #:1013682
  • Added:13 day(s) ago
  • Updated:October 27, 2026 at 08:37 AM

Rooms and interior

  • Bedrooms:2
  • Total bathrooms:1
  • Full bathrooms:1
  • Rooms Total:4
  • Kitchen Description:Dishwasher, Microwave, Refrigerator, Stove/Oven Gas
  • Living area:609 sq. ft.

Heating and cooling

  • Central air:Yes

Structure and exterior

  • Year built:1950
  • Building area:609 sq. ft.
  • Lot area:0.15 Acres

Schools

  • High school:Bay
  • Middle school:Jinks
  • Elementary school:Cherry Street

Utilities

  • Water:Public Water

Finances and disclosures

  • Price:$160,000
  • Price per sq. ft.:$262.73
  • Tax amount:$1,142 (2025)

Features and amenities

  • Appliances:Dishwasher, Dryer, Microwave, Refrigerator, Stove/Oven Gas, Washer
  • Laundry features:Dryer, Washer
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