Two-Residence Multifamily
New
For Sale
$465,000
4806 High Point Drive, Panama City, FL 32404
Residential, Panama City, FL
Property Size2,897 SF
Lot Size0.47 Acres
Price / SF$160.51
Days on Market3
Property Features for 4806 High Point Drive
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning description
Resid Single Family
Bedrooms
5
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 1, Bedroom 2, Bedroom 3, Bathroom 1, Bedroom 5, Bathroom 2, Bedroom 4, Bathroom 3
Parking features
Gated
Pool private
1
Interior features
MainLevelPrimary, ShowerOnly
Fencing
Fenced
Appliances
ElectricOven, ElectricWaterHeater
Subdivision
Highpoint
View
Lake
Elementary school
Deer Point
Middle school
Merritt Brown
High school
Mosley
Directions
231 north left on 2321 for 2 miles, right ob high point rd for 3 miles, left on high point drive house will be on the right.
Standard status
Active
APN
05389-020-000
Size
2,897 SF
Lot size
0.47 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
HIGH POINT SUB 1ST ADD M 126C LOT 1 BLK A ORB 4669 P 1040
Tax Annual Amount
4381
Legal Description
HIGH POINT SUB 1ST ADD M 126C LOT 1 BLK A ORB 4669 P 1040
Utilities
Heating system
Electric (Heating)
Cooling system
Central Air, Separate Meters
Amenities
pool
Building Details
Year built
1982
Flooring type
Vinyl, Plank
Building materials
Brick
Buildings
2
Listing Agency:
ERA Neubauer Real Estate, Inc · ERA Real Estate
(850) 872-3434
Listed By:
Angela Hale
(850) 252-5227
Added: Nov 2
Last Checked: Nov 4 at 2:06PM
MLS# 797278
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.
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This multifamily property includes a main home and a separate residence, with 2,897 square feet of reported property area on a 0.47-acre lot. The 925-square-foot secondary residence has a full kitchen, two bedrooms, one bathroom, its own washer and dryer, and a private entrance. The main home includes three bedrooms, two bathrooms, a bonus room, and an updated open-concept kitchen with stainless steel appliances and solid-surface countertops. A private pool and fenced yard add outdoor amenities. The brick property was built in 1982 and is in Flood Zone X.
A boat ramp is less than half a mile away. The property is outside an HOA.
A boat ramp is less than half a mile away. The property is outside an HOA.
Key Highlights
- Two residences on a 0.47‑acre lot
- Separate residence measures 925 square feet and has 2 bedrooms and 1 bathroom
- Main home has 3 bedrooms, 2 bathrooms, and a bonus room
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$30,825
Cap Rate
6.63%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$616,500
$616.5K
Cap Rate 7%
$440,357
$440.4K
Cap Rate 9%
$342,500
$342.5K
Market Conditions
NOI Build-Up for 2,897 SF
Gross rent
$46.9K $16.20/SF
− Vacancy
−$2.9K −$1.00/SF
EGI
$44.0K $15.20/SF
− OpEx
−$13.2K −$4.56/SF
NOI
$30.8K $10.64/SF
Area
Bay County, FL
Vacancy
6.17%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$616,500
Cap Rate 7%
$440,357
Cap Rate 9%
$342,500
Alternative Uses
Best Use
Multifamily LT 5
$440.4K
$385.3K – $513.8K
NOI $30,825 @ 7.0% cap · market cap 6.63%
Second Best
Apartment 5plus
$403.5K
$353.1K – $470.8K
NOI $28,246 @ 7.0% cap · market cap 6.07%
Theoretical Best
Office A
$844.1K
$738.6K – $984.8K
NOI $59,086 @ 7.0% cap · market cap 12.71%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
16
Businesses Nearby
Explore this area
Business Placement
Demographics for 32404, FL
38,186
Population
18,053
Households
2.1
Avg Household Size
40
Median Age
21%
College-Educated
87%
High-School Grad
135.1 sq mi
ZIP Area
283
Density / Sq Mi
$72,208
Median Household Income
$38,701
Median Earnings
$1,355
Median Rent
$239,700
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
Frequently Asked Questions
What type of property is this?
Multifamily property - A separate residence offers its own kitchen, laundry, and entrance alongside the main home.
Where is this multifamily property located?
The property is located at 4806 High Point Drive Panama City, FL.
What is the asking price?
The asking price for this property is $465,000.
What are key features of this property?
This property features: Two residences on a 0.47‑acre lot; Separate residence measures 925 square feet and has 2 bedrooms and 1 bathroom; Main home has 3 bedrooms, 2 bathrooms, and a bonus room
