Three-Bedroom
New
For Sale
$249,000
1720 Jakes Drive, Panama City, FL 32405
Residential, Panama City, FL
Property Size1,484 SF
Lot Size0.04 Acres
Price / SF$167.79
Days on Market5
Property Features for 1720 Jakes Drive
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
3
Bathrooms
3
Full bathrooms
2
Half bathrooms
1
Rooms
Bathroom 2, Bedroom 3, Bathroom 3, Bedroom 2, Bathroom 1, Bedroom 1
Patio and Porch features
Patio
Interior features
DoubleVanity, TubShower
Fencing
Fenced
Appliances
ElectricRange, ElectricWaterHeater
Subdivision
Jakes Landing
Elementary school
Deer Point
Middle school
Mowat
High school
Mosley
Directions
Hwy 390 and 77. Drive east on 390 to hwy 389 and turn right. Go down .5 miles and turn left on Jakes drive.
Standard status
Active
APN
11588-980-225
Size
1,484 SF
Lot size
0.04 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
JAKES LANDING LOT 45 ORB 4811 P 2343
Tax Annual Amount
2577
HOA Fee
$85 Monthly
Legal Description
JAKES LANDING LOT 45 ORB 4811 P 2343
Utilities
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air
Building Details
Year built
2023
Building materials
HardiplankType, Concrete
Roof type
Asphalt
Architectural style
Other
Listing Agency:
Keller Williams Success Realty · Keller Williams Realty
(850) 249-0313
Listed By:
Danny Bishop · License #SL3564917
(850) 628-1234
Added: Sep 18
Last Checked: Sep 22 at 9:06PM
MLS# 795589
Copyright © 2026 Central Panhandle Association of REALTORS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 2023 duplex residence contains 1,484 square feet on a 0.04-acre lot. The two-level interior places living and dining areas alongside a kitchen equipped with granite countertops, stainless steel appliances, cabinetry, and a large island. The property includes three bedrooms and three bathrooms, including a primary suite with an ensuite bath and ample closet space. Additional features include central heating and cooling, electric range, electric water heater, public sewer, a patio, and fencing.
The property is in Panama City near the Hwy 77/390 corridor. The surrounding area provides access to schools, dining, shopping, major employers, Tyndall AFB, and Panama City Beach.
The property is in Panama City near the Hwy 77/390 corridor. The surrounding area provides access to schools, dining, shopping, major employers, Tyndall AFB, and Panama City Beach.
Key Highlights
- 1,484‑square‑foot duplex residence built in 2023
- Three bedrooms and three bathrooms across a two‑level layout
- Kitchen with granite countertops, stainless steel appliances, and large island
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
$17,951
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
7.21%
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%
$359,020
$359.0K
Cap Rate 7%
$256,443
$256.4K
Cap Rate 9%
$199,456
$199.5K
Market Conditions
NOI Build-Up for 1,484 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
$30.3K $20.40/SF
− Vacancy
−$4.6K −$3.12/SF
EGI
$25.6K $17.28/SF
− OpEx
−$7.7K −$5.18/SF
NOI
$18.0K $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%
$359,020
Cap Rate 7%
$256,443
Cap Rate 9%
$199,456
Alternative Uses
Best Use
Multifamily LT 5
$256.4K
$224.4K – $299.2K
NOI $17,951 @ 7.0% cap · market cap 7.21%
Second Best
Apartment 5plus
$234.8K
$205.4K – $273.9K
NOI $16,435 @ 7.0% cap · market cap 6.60%
Theoretical Best
Office A
$373.2K
$326.6K – $435.4K
NOI $26,124 @ 7.0% cap · market cap 10.49%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
1
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
160
Businesses Nearby
Explore this area
Business Placement
Demographics for 32405, FL
28,158
Population
13,585
Households
2.1
Avg Household Size
40
Median Age
29%
College-Educated
92%
High-School Grad
18.8 sq mi
ZIP Area
1,498
Density / Sq Mi
$71,002
Median Household Income
$41,867
Median Earnings
$1,418
Median Rent
$255,100
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
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 - Two-level residence with an open living area, modern kitchen, private primary suite, patio, and fenced outdoor space.
Where is this duplex located?
The property is located at 1720 Jakes Drive Panama City, FL.
What is the asking price?
The asking price for this property is $249,000.
What are key features of this property?
This property features: 1,484‑square‑foot duplex residence built in 2023; Three bedrooms and three bathrooms across a two‑level layout; Kitchen with granite countertops, stainless steel appliances, and large island
