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    Waterfront Townhome with Pond Views Title is generated by Realmo AI

    5165 Lamar Drive, Marianna, FL 32446

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    Pending
    $209,000

    MULTI_FAMILY - Marianna, FL

    Property size:
    1,156 SF
    Added:
    Apr 13, 2026
    Days on Market:
    51
    Last Refresh:
    Jun 2 at 9:06 pm

    Property Features for 5165 Lamar Drive

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Bedrooms
    2
    Bathrooms
    2
    Rooms
    Bathroom 1, Bedroom 1, Bathroom 2, Bedroom 2
    Standard status
    Pending
    APN
    06-4N-09-0000-0090-0020
    Size
    1,156 SF

    Taxes and HOA fees

    Tax Year
    2025
    Tax Description
    OR 189 P 396 OR 264 P 270UNIT 3 BLDG A TOWNHOUSE OFFHUNTER FISH CAMP ROAD...OR 308 P 405...ALSO OR 298 P 969 1/8 UNDIVIDED INTEREST IN COMM AT NEC, RUN N 86* W 422.89 FT, W 353.86 FT, S 8* W 377.26 FT TO BEGIN, RUN S 176.25 FT TO N/LY SHORE MILL POND, S 253.75 FT TO CENTER OF BLUE SPRINGS RUN, THENCE SW/LY ALONG RUN 210 FT, N 220 FT TO N/LY SHORE MILL POND, N 210 FT, N 49* E 210 FT TO POB, LESS TO
    Tax Annual Amount
    210

    Utilities

    Water front features
    Lake Front, Lake
    Water front
    1

    Building Details

    Year built
    1982

    We can help!

    Listing Contact
    Dustin Ballard

    Listing agent Dustin Ballard License #SL3539268

    Listing office Real Broker LLC 2752 Recker Highway, Championsgate, FL

    Listing date Apr 13, 2026

    MLS# 790708 Listing URL

    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.

    HighLights

    • Waterfront townhome overlooking Merritt’s Mill Pond with lakefront and lake views
    • 2‑bedroom, 2‑bath layout with 1 bedroom and 1 bathroom on each side
    • Covered back porch for outdoor relaxing and entertaining with pond views
    • Built in 1982
    • Waterfront setting on a spring‑fed waterway known for boating, kayaking, and fishing

    Overview

    This waterfront townhome overlooks Merritt’s Mill Pond and is designed for comfortable, low-maintenance living. The home features two bedrooms and two bathrooms, along with striking water views from the living space. A covered back porch provides an ideal spot to relax, entertain, or enjoy your morning coffee while taking in the surrounding scenery.

    Located at 5165 Lamar Drive in Marianna, Florida, the property offers access to a peaceful, spring-fed water setting. The pond and surrounding waterway are highlighted for their natural beauty, with opportunities for boating, kayaking, and fishing.

    For buyers seeking a primary residence, this layout supports everyday living with a tranquil waterfront backdrop. It also fits well for a vacation retreat where the focus is on scenery and outdoor recreation. Investors may find the combination of waterfront appeal and a straightforward, single unit floorplan attractive for capturing demand from tenants looking for an easy-care home near the water.
    Property Profile Location Intelligence

    Current Use by Public Records

    Specialty properties

    Suggested Use

    Hotel & Motel Kitchen & Bath Showroom Bar & Pub Furniture & Home Goods Plumbing Service

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Marianna
    County
    Jackson
    State
    Florida
    Longitude
    -85.164838
    Latitude
    30.781575

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    FAQs

    What type of property is this?
    Specialty property - Enjoy a low-maintenance 2-bedroom, 2-bath townhome with waterfront views and a covered porch for year-round relaxation.
    Where is this specialty property located?
    The property is located at 5165 Lamar Drive Marianna, FL.
    What is the asking price?
    The asking price for this property is $209,000.
    What are key features of this property?
    This property features: Waterfront townhome overlooking Merritt’s Mill Pond with lakefront and lake views; 2‑bedroom, 2‑bath layout with 1 bedroom and 1 bathroom on each side; Covered back porch for outdoor relaxing and entertaining with pond views
    (850) 209-1048
    We can help!
    Listing Contact
    Dustin Ballard
    Real Estate License ID: SL3539268
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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