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Harrison Lilly Team

Owner/Operator | Harrison Lilly Emerald Coast | Harrison Lilly Realty | PLACE

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209 Sherman Ave , Panama City, FL 32401
$250,000
Est. Payment: $1,381.21/mo
4 Bed
4 Bath
1920 Sqft
0.23 Acres
Status: Active | Days on site: 15
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By proceeding and clicking the sign up button, you consent to receive calls and texts (SMS/MMS) including marketing and promotional communications, from Harrison Lilly Team, its affiliates, and agents or vendors acting on their behalf. These communications may be delivered using an automatic telephone dialing system or by using an artificial or prerecorded voice. Message and data rates may apply. To opt out of text messages, reply STOP. Your consent is not required as a condition of any purchase. By continuing, you also agree to our Terms of Use and Privacy Policy.
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Harrison Lilly Team
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House Description

INVESTMENT OPPORTUNITY -- FOUR FULLY OCCUPIED RENTAL UNITS! 209 Sherman Ave features four currently occupied apartment units, generating $750 per unit per month, or $3,000 in gross monthly rental income / $36,000 annually. Each unit is individually metered. Owner-reported utilities average approximately $250/month. Property taxes are approximately $2,500 annually. The property consists of two buildings on approximately 0.23 acres with off-street parking. Built in 1947, the property offers an established rental setup with four income-producing units in a convenient Panama City location. Strong opportunity for an investor seeking existing rental income and an occupied multifamily property. Buyer to verify all unit count, square footage, room dimensions, rental income, expenses, utility arrangements, taxes, insurance, zoning, permits, property condition and all other information deemed important by buyer.
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Highlights

Listed by Team Don and Bubba , 850-624-8433 eXp Realty, LLC , 850-624-8433. Bay County Association of REALTORS

Property Type

Condo/Townhome
Lot/Acreage
0.23

Year Built

1947

County

Bay

Area

02 - Bay County - Central

 Neighborhood

[No Recorded Subdiv]

Listing ID

795519

Questions about this listing?

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Interior Features

Bedrooms and Bathrooms
  • ▪ Bedrooms:4
  • ▪ Bathrooms:4
  • ▪ Full Bathrooms:4
Appliances:Electric Water Heater
Air Cond:Window Unit(s)
Fireplaces:

Exterior Features

Lot Dimensions:73.0 ft x 139.0 ft
Roof:Metal
Sewer:Public Sewer
Principal Interest
$1,381
Taxes
$236

Home Price

$250,000

Loan Details

30 yrs
7.374%

Down Payment

20%
$50,000
All calculations are estimates and provided by Blueroof360. Today’s Rates provided by Blueroof360. Information and interactive calculators are made available to you only as self-help tools for your independent use and are not intended to provide investment or tax advice. We cannot and do not guarantee their applicability or accuracy in regards to your individual circumstances. All examples are hypothetical and are for illustrative purposes. We encourage you to seek personalized advice from qualified professionals regarding all personal finance issues.
Monthly Price:
$1,381.21

Principal

Taxes

Principal Taxes HOA Total
Monthly $1,381.21 $236.26 $0.00 $1,617.47
Yearly $16,574.57 $2,835.10 $0.00 $19,409.67
Total $497,237.04 $85,053.00 $0.00 $582,290.04

Today's Rates

30 Year

7.37%

20 Year

7.27%

15 Year

6.8%

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Market insight data is pulled from the same city as the listing being viewed (Panama City, FL).

The schools listed are within a 2-mile radius of the property; however, attendance is not guaranteed. Please contact the local school district to confirm zoning and enrollment options.

Information provided by Bay County Association of REALTORS, and is deemed reliable but not guaranteed accurate.

IDX service by Blueroof 360

Data last updated: 2026-10-07T05:07:46.000Z

© 2026 Bay County Association of REALTORS