Updated One-Bedroom
For Sale
$150,000
1103 11th Street, Panama City, FL 32401
Occupied rental property with newer windows, HVAC equipment, and appliances in place.
Property Size960 SF
Price / SF$156.25
Days on Market401
Property Features for 1103 11th Street
General Information
Standard status
Active
Size
960 SF
Property subtype
Duplex
Additional Details
Gross Income
$16,800
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$1,297
Amenities
Electric
3
Electric Range/Cooktop
Porch, Screened-in
65 X 130
Building Details
Year Built
1954
Listing Agency:
Anchor Realty Florida
(850) 899-7999
Listed By:
James (Jim) Davis · License #SL3415217
(850) 774-4712
Source:
Xome
Added: Jul 27, 2025
Changed: Aug 31
Last Checked: Aug 31 at 1:43PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Anchor Realty Florida
Investment Insights
Based on property information with market context.
This 960-square-foot duplex was built in 1954 and is configured as a one-bedroom property. Recent improvements include new windows, HVAC equipment, and appliances. The units feature electric service and electric range/cooktop equipment, with a screened-in porch adding covered exterior space.
Located at 1103 E 11th Street Unit A & B in Panama City, Florida, the property sits on a 65 X 130 lot. It is currently occupied and rented, with existing leases ending on 6/15/2026 and 8/15/2026. Showings require at least 48 hours’ advance notice and tenant approval.
Located at 1103 E 11th Street Unit A & B in Panama City, Florida, the property sits on a 65 X 130 lot. It is currently occupied and rented, with existing leases ending on 6/15/2026 and 8/15/2026. Showings require at least 48 hours’ advance notice and tenant approval.
Key Highlights
- 960‑square‑foot duplex on a 65 X 130 lot
- One‑bedroom duplex built in 1954
- New windows, HVAC, and appliances
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$11,613
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.74%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$232,260
$232.3K
Cap Rate 7%
$165,900
$165.9K
Cap Rate 9%
$129,033
$129.0K
Market Conditions
NOI Build-Up for 960 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$19.6K $20.40/SF
− Vacancy
−$3.0K −$3.12/SF
EGI
$16.6K $17.28/SF
− OpEx
−$5.0K −$5.18/SF
NOI
$11.6K $12.10/SF
Area
Walton County, FL
Vacancy
15.29%
Lease Rate
$20.40 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$232,260
Cap Rate 7%
$165,900
Cap Rate 9%
$129,033
Alternative Uses
Best Use
Multifamily LT 5
$165.9K
$145.2K – $193.6K
NOI $11,613 @ 7.0% cap · market cap 7.74%
Second Best
Apartment 5plus
$151.9K
$132.9K – $177.2K
NOI $10,632 @ 7.0% cap · market cap 7.09%
Theoretical Best
Office A
$241.4K
$211.3K – $281.7K
NOI $16,900 @ 7.0% cap · market cap 11.27%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
382
Businesses Nearby
Explore this area
Business Placement
Demographics for 32401, FL
20,487
Population
10,239
Households
2
Avg Household Size
42
Median Age
20%
College-Educated
86%
High-School Grad
12.5 sq mi
ZIP Area
1,639
Density / Sq Mi
$49,901
Median Household Income
$35,885
Median Earnings
$1,194
Median Rent
$207,000
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Occupied rental property with newer windows, HVAC equipment, and appliances in place.
Where is this duplex located?
The property is located at 1103 11th Street Panama City, FL.
What is the asking price?
The asking price for this property is $150,000.
What are key features of this property?
This property features: 960‑square‑foot duplex on a 65 X 130 lot; One‑bedroom duplex built in 1954; New windows, HVAC, and appliances
