Upper-Lower Duplex with
New
For Sale
$275,000
7 Odess Ln, Pensacola, FL 32507
Residential Income, Pensacola, FL
Property Size1,420 SF
Lot Size0.05 Acres
Price / SF$193.66
Days on Market5
Property Features for 7 Odess Ln
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 2, Bathroom 1
Parking
1
Parking features
Carport
Lot features
Cul-De-Sac
Elementary school
Warrington Elementary
Middle school
WARRINGTON
High school
Pensacola
Directions
Barrancas ave, south on Weis Ln, east on Olde Barrancas Ave, south on Odess Ln.
Standard status
Active
APN
592S302200010005
Size
1,420 SF
Lot size
0.05 Acres
Taxes and HOA fees
Tax Description
E 44 FT OF S 38 FT LOT 5 AND ADJOINING N 10 FT OF 20 FT ALLEY FISHER EXECUTORS S/D PB 89 P 52 OR 8548 P 1981 CA 194
Legal Description
E 44 FT OF S 38 FT LOT 5 AND ADJOINING N 10 FT OF 20 FT ALLEY FISHER EXECUTORS S/D PB 89 P 52 OR 8548 P 1981 CA 194
Utilities
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air
Water source
Public
Building Details
Year built
1938
Floors in Building
2
Number of units
2
Building materials
Frame
Roof type
Shingle
Listing Agency:
KELLER WILLIAMS REALTY GULF COAST
(850) 471-5000
Listed By:
Nathan Baker
(850) 525-8034
Added: Sep 23
Last Checked: Sep 27 at 1:06PM
MLS# 689412
Copyright © 2026 Pensacola 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.
Built in 1938, this 1,420-square-foot frame duplex is arranged as upper and lower units within a two-bath residence. The units share utilities and could be returned to a single-unit configuration. Central heating and central air conditioning serve the property, while a carport provides covered parking. The home sits on a 0.0485-acre lot with a shingle roof.
Both units are leased through early 2027. Public water and public sewer serve the property, and the location is near downtown Pensacola.
Both units are leased through early 2027. Public water and public sewer serve the property, and the location is near downtown Pensacola.
Key Highlights
- Two‑unit upper‑and‑lower configuration
- 1,420 square feet on a 0.0485‑acre lot
- Both units leased through early 2027
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
$13,976
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
5.08%
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%
$279,520
$279.5K
Cap Rate 7%
$199,657
$199.7K
Cap Rate 9%
$155,289
$155.3K
Market Conditions
NOI Build-Up for 1,420 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
$23.0K $16.20/SF
− Vacancy
−$3.0K −$2.14/SF
EGI
$20.0K $14.06/SF
− OpEx
−$6.0K −$4.22/SF
NOI
$14.0K $9.84/SF
Area
Escambia County, FL
Vacancy
13.21%
Lease Rate
$16.20 /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%
$279,520
Cap Rate 7%
$199,657
Cap Rate 9%
$155,289
Alternative Uses
Best Use
Multifamily LT 5
$199.7K
$174.7K – $232.9K
NOI $13,976 @ 7.0% cap · market cap 5.08%
Second Best
Apartment 5plus
$183.3K
$160.4K – $213.8K
NOI $12,830 @ 7.0% cap · market cap 4.67%
Theoretical Best
Office A
$416.8K
$364.7K – $486.2K
NOI $29,173 @ 7.0% cap · market cap 10.61%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
184
Businesses Nearby
Explore this area
Business Placement
Demographics for 32507, FL
31,215
Population
19,131
Households
1.6
Avg Household Size
44
Median Age
32%
College-Educated
91%
High-School Grad
27.9 sq mi
ZIP Area
1,119
Density / Sq Mi
$69,802
Median Household Income
$38,000
Median Earnings
$1,238
Median Rent
$267,100
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Duplex - Frame duplex with two leased units, shared utilities, central HVAC, and a carport near downtown Pensacola.
Where is this duplex located?
The property is located at 7 Odess Ln Pensacola, FL.
What is the asking price?
The asking price for this property is $275,000.
What are key features of this property?
This property features: Two‑unit upper‑and‑lower configuration; 1,420 square feet on a 0.0485‑acre lot; Both units leased through early 2027
