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605 Elm Avenue, Panama City, FL 32401

Panama City
Local realty services provided by:CENTURY 21 AllPoints Realty
605 Elm Avenue,Panama City, FL 32401
$160,000
  • 2 Beds
  • 1 Baths
  • 609 sq. ft.
  • Single family
  • Active
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:1 day(s) ago
  • Updated:October 15, 2026 at 03:50 PM

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
The information being provided by Emerald Coast Association Of REALTORS® is for the consumer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumer may be interested in purchasing. Any information relating to real estate for sale referenced on this web site comes from the Internet Data Exchange (IDX) program of the Emerald Coast Association Of REALTORS®. CENTURY 21 AllPoints Realty is not a Multiple Listing Service (MLS), nor does it offer MLS access. This website is a service of CENTURY 21 AllPoints Realty, a broker participant of Emerald Coast Association Of REALTORS®. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. The accuracy of all information, regardless of source, including but not limited to open house information, square footages and lot sizes, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals. The data contained herein is copyrighted by Emerald Coast Association Of REALTORS® and is protected by all applicable copyright laws. Any unauthorized dissemination of this information is in violation of copyright laws and is strictly prohibited. Properties in listings may have been sold or may no longer be available. Copyright 2026 Emerald Coast Association Of REALTORS®. All rights reserved. FL_ECAR Member Broker: Ron Jones

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