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Escambia County FL Homes under $300,000

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  • /64

    $215,000

    • 3 Beds
    • 2 Baths
    • 1,548 Sq Ft

    4661 Hwy 168, Century, FL 32535

    Come see this one! The home was beautifully remodeled over the last few years and now includes the adjacent lot making the total lot size approx. 1.93 acres! This darling kitchen includes the appliances and has a handy little breakfast bar, built-in shelves and adjacent dining area. The split bedroom plan is ideal with the two guest rooms sharing a main hall bath off the spacious den on the other

    Lisa Reynolds Reynolds Real Estate

    4661 Hwy 168, Century, FL 32535
  • /65

    $215,000

    • 3 Beds
    • 2 Baths
    • 1,548 Sq Ft

    4661 Highway 168, Century, FL 32535

    Come see this one! The home was beautifully remodeled over the last few years and now includes the adjacent lot making the total lot size approx. 1.93 acres! This darling kitchen includes the appliances and has a handy little breakfast bar, built-in shelves and adjacent dining area. The split bedroom plan is ideal with the two guest rooms sharing a main hall bath off the spacious den on the other

    Lisa Reynolds Reynolds Real Estate

    4661 Highway 168, Century, FL 32535
  • /7

    $230,000

    • 4 Beds
    • 2 Baths
    • 1,643 Sq Ft

    1007 Rainbow Ave, Pensacola, FL 32505

    Discover your dream home featuring 4 spacious bedrooms and 2 modern bathrooms, perfect for families or those who love entertaining. The large den offers additional living space, ideal for a home office or playroom. Step outside to enjoy a covered large patio, perfect for outdoor gatherings, and a beautifully landscaped, privacy-fenced yard providing a serene retreat. The heart of this home is the

    Diane White Better Homes And Gardens Real Estate Main Street Properties

    1007 Rainbow Ave, Pensacola, FL 32505
  • /16

    $266,400

    • Land
    • 30 Acres
    • $9,000 per Acre

    5400 BLK Rockaway Creek Rd, McDavid, AL 32568

    Imagine waking up to the serenity of 30 acres of level, fertile land, where the possibilities are endless. Whether you're looking to create your dream home, start a hobby farm, or keep it in row crops, this property offers the perfect canvas to make your vision a reality. Located in a highly sought-after school district, this land combines privacy, convenience, and natural beauty in one

    Brett (Chapman) Helton PHD Realty, LLC

    5400 BLK Rockaway Creek Rd, McDavid, AL 32568
  • /72

    $260,000

    • 3 Beds
    • 2 Baths
    • 1,568 Sq Ft

    12346 Ailanthus Dr, Pensacola, FL 32506

    Lakeside Retreat with Breathtaking Views! Tucked away in the peaceful Wildwood Lakes community, this 3-bedroom, 2-bathroom home offers over 1,500 square feet of inviting living space on a spacious half-acre lot. Designed for both relaxation and entertaining, this home boasts a large front porch, a screened sunroom overlooking the lake, and a covered deck, perfect for soaking in the tranquil

    Erik Hansen KELLER WILLIAMS REALTY GULF COAST

    12346 Ailanthus Dr, Pensacola, FL 32506
  • /16

    $266,400

    • Land
    • 30 Acres
    • $9,000 per Acre

    5400 BLK Rockaway Creek Rd, Walnut Hill, FL 32568

    Imagine waking up to the serenity of 30 acres of level, fertile land, where the possibilities are endless. Whether you're looking to create your dream home, start a hobby farm, or keep it in row crops, this property offers the perfect canvas to make your vision a reality. Located in a highly sought-after school district, this land combines privacy, convenience, and natural beauty in one

    Brett (Chapman) Helton PHD Real Estate, LLC

    5400 BLK Rockaway Creek Rd, Walnut Hill, FL 32568
  • /19

    $299,998

    • 3 Beds
    • 2 Baths
    • 2,665 Sq Ft

    7540 Jefferson Ave, Century, FL 32535

    Spacious 3-Bedroom Home on 1.40 Acres with Bonus Living Space! Looking for a home with extra space and solid construction? This unique 3-bedroom, 2-bathroom home in the Town of Century sits on a generous 1.40-acre corner lot, offering plenty of room to grow and thrive. Unlike typical "cookie-cutter" homes, this property boasts versatile living areas designed to meet your family's needs. As you

    Kelly Hobbs Woodlands & Homes, LLC

    7540 Jefferson Ave, Century, FL 32535
  • /24

    $200,000

    • Land
    • 13 Acres
    • $15,361 per Acre

    749 Cotton Lake Rd, Molino, FL 32577

    This stunning 13-acre parcel in Pine Barren Creek Estates offers unmatched privacy and natural beauty, with approximately 500 feet of Pine Barren Creek flowing along the back of the property. The seller has already prepared the lot for a homesite by adding a road and dirt for the foundation, plus a well for water, making it even easier to build your dream home. The buildable portion of the land

    Richard LaFrance Re/Max America's Top Realty

    749 Cotton Lake Rd, Molino, FL 32577
  • /20

    $299,950

    • 3 Beds
    • 2 Baths
    • 1,434 Sq Ft

    825 Bayshore Dr Unit 800, Pensacola, FL 32507

    Waterfront Opportunity at 825 Bayshore Drive! Don’t miss this chance to own a waterfront condo in the highly desirable Bayshore Condominiums! This spacious 3-bedroom, 2-bathroom unit offers stunning views of Pensacola Bay and incredible potential to transform it into your dream coastal retreat. The seller has recently reduced the price to assist with small updates and will install flooring of

    Helen Counsell Engel & Volkers Pensacola

    825 Bayshore Dr Unit 800, Pensacola, FL 32507
  • /22

    $214,990

    • 1,352 Sq Ft

    106 and 108 Cherokee Trail, Pensacola, FL 32506

    ***Income-Producing Triplex – Duplex with Detached Efficiency Unit*** This three-unit investment property offers immediate cash flow and strong long-term potential. The property includes a duplex and a detached efficiency unit on the same lot, providing multiple income streams. The duplex is currently rented for $1,620 per month on annual leases, with room to increase rents. The efficiency unit

    Caleb Drake Levin Rinke Realty

    106 and 108 Cherokee Trail, Pensacola, FL 32506
  • /58

    $299,000

    • 1 Bed
    • 1 Bath
    • 697 Sq Ft

    13500 Sandy Key Dr Unit 302W, Pensacola, FL 32507

    Escape to your own slice of Gulf Coast paradise at Grand Caribbean #302W! This beautifully furnished one-bedroom, one-bath condo, complete with a cozy bunk alcove, offers the perfect blend of comfort & coastal charm. Step inside to an inviting open floor plan, where natural light enhances the interior updates, including plush carpet, chic kitchen cabinets, sleek countertops & fresh

    Susan Carleton Pointe South

    13500 Sandy Key Dr Unit 302W, Pensacola, FL 32507
  • /46

    $275,000

    • 3 Beds
    • 2 Baths
    • 1,700 Sq Ft

    4426 Creighton Rd, Pensacola, FL 32504

    Gorgeous find in the popular Scenic Hills area! Take a look at this tastefully updated home just moments from all Pensacola has to offer! The ambiance here just feels like "Home"! The floor plan offers versatility and plenty of space for your needs--including the family room; a great space to entertain & enjoy your evenings. The kitchen is bright and open, and is laid out with functionality in

    Charles Geiser Plum Tree Realty LLC

    4426 Creighton Rd, Pensacola, FL 32504
  • /29

    $287,000

    • 2 Beds
    • 2 Baths
    • 1,066 Sq Ft

    14100 River Rd Unit 223, Pensacola, FL 32507

    UPDATED Waterfront Living with Breathtaking Views! Enjoy stunning Intracoastal Waterway views and unforgettable sunsets from your private balcony in this coastal retreat. Whether you're a boater, fisherman, or simply love the water, this condo offers an incredible lifestyle without the million-dollar price tag! Inside, you'll find 2 spacious bedrooms, a bright and airy living area, and the

    Kalab Hoover KELLER WILLIAMS REALTY GULF COAST

    14100 River Rd Unit 223, Pensacola, FL 32507
  • /29

    $272,000

    • 3 Beds
    • 2 Baths
    • 1,515 Sq Ft

    7157 Sonny Dr, Pensacola, FL 32504

    Welcome to 7157 Sonny Dr, Pensacola, FL 32504, a charming single-story home in the desirable Commanders Cove subdivision! Built in 2023, this 3-bedroom, 2-bathroom residence spans 1,515 square feet, offering a perfect blend of modern comfort and prime location. Ideal for UWF students, nurses, first-time home buyers, downsizers, or investors, this home is a fantastic opportunity in the heart of

    JON DALE Levin Rinke Realty

    7157 Sonny Dr, Pensacola, FL 32504
  • /13

    $295,000

    • 3 Beds
    • 2 Baths
    • 1,742 Sq Ft

    638 Wild Heron Way, Pensacola, FL 32506

    Great opportunity for a handy homeowner! Home is priced 60k below market value with cost of repairs in mind! Home needs some TLC but has awesome potential with mostly hard surfaces, such as granite countertops & tile floors in main living areas. Contractors welcome to inspect or give estimates!You will also find a 2 car garage, an adorable front porch, and back porch with a privacy fence

    Rachel Faboye DeFuniak Realty LLC

    638 Wild Heron Way, Pensacola, FL 32506
  • /11

    $267,000

    • 3 Beds
    • 1 Bath
    • 1,312 Sq Ft

    11 W Yonge St, Pensacola, FL 32501

    Nice cottage style home. The house was completely renovated in late 2024. LVP flooring throughout. Great investment property!

    Don Huntley Gulf Coast Property Management, Co., Inc.

    11 W Yonge St, Pensacola, FL 32501
  • /14

    $295,000

    • 1,296 Sq Ft

    1036 Hawthorn Dr Unit A/B and 606 Elizabet, Pensacola, FL 32507

    PLEASE DO NOT DISTURB TENANTS. Presenting a superb investment opportunity. One parcel with four tenant-occupied units. This portfolio includes two single-family homes and a duplex, ensuring diverse and steady rental income. The property at 1030 Hawthorn Drive features a 2-bedroom, 1-bath home complete with a laundry room in 756 square feet. At 1036 A/B Hawthorn Drive, each side of the duplex

    Lana Parks Aloha Destin Beach Properties, LLC

    1036 Hawthorn Dr Unit A/B and 606 Elizabet, Pensacola, FL 32507
  • /26

    $274,500

    • 4 Beds
    • 2 Baths
    • 1,192 Sq Ft

    105 Rue Max St, Pensacola, FL 32507

    Discover the perfect blend of charm and modern updates in this beautifully renovated 4-bedroom, 2-bathroom cottage-style home, complete with a private pool. Move-in ready and meticulously enhanced, this stunning retreat offers an inviting atmosphere just minutes from downtown Pensacola. Step inside to an open-concept living and dining area that exudes warmth and comfort, seamlessly flowing

    Travis Mattair Innerscope Realty LLC

    105 Rue Max St, Pensacola, FL 32507
  • /38

    $249,900

    • 2 Beds
    • 1 Bath
    • 1,093 Sq Ft

    5 Greve Ct, Pensacola, FL 32507

    NEW ROOF & WINDOWS! Welcome to 5 Greve Ct.—a charming 2-bedroom, 1-bath cottage located on a peaceful cul-de-sac in the coveted waterfront community of Navy Point. This delightful home features a sunny entryway, hardwood floors in the living, dining, and bedrooms, an updated bathroom with tile, and new LVP flooring in the kitchen and utility room. Major upgrades include a new furnace (2019) and a

    Holly Jo Patterson Levin Rinke Realty

    5 Greve Ct, Pensacola, FL 32507
  • /45

    $215,000

    • 3 Beds
    • 3 Baths
    • 1,600 Sq Ft

    335 Vera St, Pensacola, FL 32514

    Discover Your Dream Home! Step into this stunning 2-bedroom, 2- bathroom main residence, where luxury meets functionality. Indulge in relaxation with a beautifully designed walk-in and sit-in bath featuring adjustable water jets. Enjoy ample storage with large walk-in closets and be amazed by the expansive kitchen, boasting custom cabinetry, generous storage, and an inviting island

    Paige Krisman KELLER WILLIAMS REALTY GULF COAST

    335 Vera St, Pensacola, FL 32514
  • /30

    $215,000

    • 3 Beds
    • 2 Baths
    • 1,216 Sq Ft

    7841 Lenora Ct, Pensacola, FL 32526

    Welcome to 7841 Lenora Ct, a well-kept 3-bedroom, 2-bathroom home on a tranquil cul-de-sac in Pensacola. This home is move-in ready with recent updates, making it a great choice for first-time buyers, small families, or investors. Updates include new flooring, fresh paint, new windows and doors, and a roof. Inside, you'll find fresh paint and updated flooring in the main areas. The kitchen

    Cora Rasmussen Realty ONE Group Emerald Coast

    7841 Lenora Ct, Pensacola, FL 32526
  • /38

    $288,500

    • 2 Beds
    • 2.5 Baths
    • 1,152 Sq Ft

    13555 Perdido Key Dr Unit 21C, Pensacola, FL 32507

    Seize the Best Value in Perdido Key! This is an incredible opportunity to own the best-priced 2-bedroom, 2.5-bath condo in Perdido Key! Whether you're searching for a serene getaway or a profitable vacation rental, this fully furnished, move-in-ready condo offers unbeatable value. Step inside and experience a freshly updated interior with tasteful decor and modern comforts that make it feel like

    JD Hallam Perdido Key Resort Realty LLC

    13555 Perdido Key Dr Unit 21C, Pensacola, FL 32507
  • /14

    $239,900

    • 3 Beds
    • 2 Baths
    • 1,520 Sq Ft

    5705 Talquin Ave, Pensacola, FL 32526

    Owner will consider financing. Great price for this brick home with two car garage. New roof and windows. Tile floors, separate family room and living/dining room. Master bedroom features a walk in closet.

    TANIA DEAN T DEAN PROPERTIES

    5705 Talquin Ave, Pensacola, FL 32526
  • /23

    $279,900

    • 4 Beds
    • 2 Baths
    • 1,562 Sq Ft

    3127 Albert Ct, Pensacola, FL 32504

    Welcome to this charming home nestled in a desirable neighborhood off of Spanish Trail. As you step inside, you are greeted by vaulted ceilings in the living room, creating an open and airy feel. This home features a split floor plan with the primary bedroom conveniently located on the first floor and the three additional bedrooms on the second floor. One of the bedrooms upstairs is a finished

    Jessica Nguyen GUNTHER PROPERTIES, LLC

    3127 Albert Ct, Pensacola, FL 32504
  • /34

    $298,000

    • 3 Beds
    • 2 Baths
    • 1,194 Sq Ft

    5316 Cambria Dr, Pensacola, FL 32507

    Great Opportunity to assume loan interest rate at 2.99%. Full interior newly painted. Come and experience living in your own charming cottage-style home. This exquisite property boasts modern amenities that cater to your every comfort. Featuring 2 bedrooms plus a spacious third room ideal for an office, along with a generously sized laundry area upon entry. Outside, enjoy a fenced backyard, a

    KEVIN WADE LPT Realty

    5316 Cambria Dr, Pensacola, FL 32507
  • /35

    $285,000

    • 1 Bed
    • 1 Bath
    • 654 Sq Ft

    13555 Perdido Key Dr Unit 25cd, Pensacola, FL 32507

    Experience effortless ownership of a turnkey vacation home and smart investment in the heart of Perdido Key. This stunning one-bedroom, one-bath condo at Purple Parrot Village Resort sells completely furnished and is ready to enjoy now and use as a short term rental the rest fo the year. Imagine a property that’s ready for you and your family to enjoy while also generating attractive rental

    JD Hallam Perdido Key Resort Realty LLC

    13555 Perdido Key Dr Unit 25cd, Pensacola, FL 32507
  • /31

    $299,000

    • 3 Beds
    • 2 Baths
    • 1,587 Sq Ft

    2481 Devine Farm Rd, Cantonment, FL 32533

    Welcome to your new home at 2481 Devine Farm Rd in Cantonment—a delightful single-family dwelling that seamlessly combines comfort with style, making it an ideal space for both families and individuals. This thoughtfully crafted split floor plan features 3 bedrooms and 2 bathrooms across 1,587 square feet of welcoming living area. At the heart of the home, you'll find a bright and open concept

    Brandy Jackson Levin Rinke Realty

    2481 Devine Farm Rd, Cantonment, FL 32533
  • /19

    $295,000

    • 1 Bed
    • 1 Bath
    • 697 Sq Ft

    13351 Johnson Beach Rd Unit 307-E, Pensacola, FL 32507

    Beach life awaits with this 3rd floor 1-bedroom , 1-bath condo with hallway bunk beds at Grand Caribbean with views of the Gulf of Mexico! Having an open living/dining area with updated lighting that flows out onto the balcony perfect for enjoying Perdido Key sunrises. The cozy yet spacious living room flows seamlessly into the dining area and kitchen, making it the perfect space for relaxing or

    Chuck Crocco LPT Realty

    13351 Johnson Beach Rd Unit 307-E, Pensacola, FL 32507
  • /31

    $230,000

    • 3 Beds
    • 1 Bath
    • 1,588 Sq Ft

    8140 House St, Pensacola, FL 32534

    Tucked at the end of a quiet cul-de-sac, this fully renovated home is ready for its next chapter. Inside, a bright and airy layout welcomes you with a fresh white kitchen, stainless steel appliances and a dining space that opens to the backyard and perfect for easy indoor-outdoor living. A sunlit bonus room offers endless flexibility. Use this room as a home office, creative space, or an

    Terri Steck Better Homes And Gardens Real Estate Main Street Properties

    8140 House St, Pensacola, FL 32534
  • /52

    $297,000

    • 3 Beds
    • 2 Baths
    • 1,626 Sq Ft

    652 Mozingo Ln, Pensacola, FL 32514

    Amazing Home at an Amazing price! Extras like Whole House Gutters w/Leaf Filter, French Drains, Newer Privacy Fence & all situated next to nature. Walk into this Well Maintained Home that includes upgrades like Luxury Vinyl Plank Flooring & amazing 28 foot deck! Are you looking for Open Concept, Split Floor-plan? You will love the Vaulted Ceiling, Plant Ledges & Huge Living Room & Huge Kitchen!

    Catherine Bergfelder Epique Realty, Inc.

    652 Mozingo Ln, Pensacola, FL 32514
  • /48

    $279,500

    • 2 Beds
    • 1 Bath
    • 1,012 Sq Ft

    112 N G St, Pensacola, FL 32502

    Charming Downtown Bungalow – Just Minutes from Palafox! Step into this fully-furnished, beautifully updated 2 bed, 1 bath, 1,012 sq. ft. bungalow, just one mile from Palafox Street—the heart of downtown Pensacola! Whether you're seeking your next home or a high-demand short-term rental, this gem offers the perfect mix of classic character and modern convenience. Tastefully renovated, this home

    MARIE GWYNN Coldwell Banker Realty

    112 N G St, Pensacola, FL 32502
  • /54

    $295,000

    • 2 Beds
    • 2 Baths
    • 1,333 Sq Ft

    615 Bayshore Dr Unit 102, Pensacola, FL 32507

    Where can you find a Waterfront 2 bedroom/2 bath Condo in a gorgeous neighborhood in this price range?? Beautiful ground floor condo directly on Pensacola Bay. No need to use the elevator. Walkout to the large swimming pool and grounds directly to the Bay. Premier location in the walkable neighborhood of Pensacola Country Club surrounded by esatates with lovely homes and treelined streets. 5

    Bobbi Godwin Connell & Company Realty Inc.

    615 Bayshore Dr Unit 102, Pensacola, FL 32507
  • /46

    $298,000

    • 4 Beds
    • 2 Baths
    • 2,003 Sq Ft

    9980 Candlestick Ln, Pensacola, FL 32514

    OPTIONAL UPGRADE!!!!! 4/2 or 3/2! THE CHOICE IS YOURS! That's right! This is the only home in Pensacola that comes with an optional UPGRADE PACKAGE! Sellers will add additional living quarters at the buyer's request (negotiable). NEW ROOF, HVAC, NEW WATER HEATER, and MOVE IN READY! This 3-bedroom, 2-bathroom home is in immaculate condition. The interior features a spacious living room with a

    Lonnie Cowan KELLER WILLIAMS REALTY GULF COAST

    9980 Candlestick Ln, Pensacola, FL 32514
  • /31

    $280,000

    • 3 Beds
    • 2 Baths
    • 1,381 Sq Ft

    6961 Rolling Hills Rd, Pensacola, FL 32505

    Welcome to your dream home- New roof installed 2023! This stunning property features three spacious bedrooms and two full bathrooms, perfectly designed for comfort and convenience. The heart of the home is a generous kitchen, complete with plenty of cabinets for all your storage needs and a breakfast bar ideal for casual meals. Entertain in style in the large dining room, perfect for family

    Diane White Better Homes And Gardens Real Estate Main Street Properties

    6961 Rolling Hills Rd, Pensacola, FL 32505
  • /34

    $209,900

    • 1 Bed
    • 1 Bath
    • 669 Sq Ft

    825 Bayshore Dr Unit 508, Pensacola, FL 32507

    1BR/1BA remodeled waterfront unit at Bayshore Condominiums. Seller willing to sell furnished (minus personal photos/items and a few art pieces). Kitchen completely remodeled in 2018 and open to living room. Bathroom updated in 2019 and new HVAC in 2021. Property has custom crown molding in living room, upgraded lighting and custom window shades, new ceiling fans, fresh paint, new bathroom lighted

    ANGELIA TREVATHAN Poppy Properties LLC

    825 Bayshore Dr Unit 508, Pensacola, FL 32507
  • /35

    $264,900

    • 3 Beds
    • 2 Baths
    • 1,258 Sq Ft

    6716 Greenwell St, Pensacola, FL 32526

    *Back on the market, no fault of sellers! This all brick home has a brand NEW ROOF a 2 year old HVAC and a 1 year old pool pump. STEP INTO INSTANT EQUITY with a recent appraisal value of $275,000. The entire home has been tastefully updated with ceramic tile flooring, large living area with a brick fireplace, dining area with bay window, galley kitchen with new cabinetry, granite counter-tops,

    Kimberly Mobley Bastion Realty LLC

    6716 Greenwell St, Pensacola, FL 32526
  • /22

    $270,000

    • 3 Beds
    • 1 Bath
    • 1,900 Sq Ft

    3351 Smiths Fish Camp Rd, Pensacola, FL 32514

    FULLY RENOVATED HOME in a highly desirable location! This home a boater’s dream, as the LAST residential property neighboring the Smiths Fish Camp boat launch. Only half a mile to the east entrance to the University of West Florida campus, Starbucks, Target, and all of the shopping & amenities of east 9 Mile Rd! * The home has been completely updated; the recent renovations include all new trim,

    Michael Warinner Key Impressions LLC

    3351 Smiths Fish Camp Rd, Pensacola, FL 32514
  • /35

    $288,000

    • 3 Beds
    • 2.5 Baths
    • 2,148 Sq Ft

    6148 The Oaks Ln Unit B, Pensacola, FL 32504

    Welcome home to an oasis tucked away under a canopy of ancient live oaks. The small but charming property boasts 3 citrus trees, a fig tree, an established blueberry bush and a gorgeous Japanese maple. Located just minutes from the Pensacola airport, Pensacola Beach and Cordova Mall. The large en suite master bathroom boasts a large spa tub underneath an inviting picture window looking out at

    Richard Radominski Southern Homes Realty LLC

    6148 The Oaks Ln Unit B, Pensacola, FL 32504
  • /35

    $280,000

    • 3 Beds
    • 2.5 Baths
    • 1,758 Sq Ft

    3770 Weatherstone Cir, Pensacola, FL 32507

    Charming home nestled back by the woods and in close proximity to the BASE! This turn-key, (may come furnished) 3-bedroom, 2.5-bathroom property is a true gem, located in a tranquil, family-friendly neighborhood minutes to the back gate of the base, Perdido Key, beaches, and downtown. Across the street are little hidden pockets where you can walk to the water. Key Features: Prime Location: CLOSE

    Mandy Longshore RE/MAX OF GULF SHORES

    3770 Weatherstone Cir, Pensacola, FL 32507
  • /23

    $280,000

    • 2 Beds
    • 2.5 Baths
    • 1,507 Sq Ft

    4735 Huron Dr, Pensacola, FL 32507

    Light and bright, fully remodeled townhome in Perdido Bay Country Club Estates!On the first floor you have 2 large entertaining areas, amazing tile floors with tasteful funishings. spacious eat in kitchen with white appliances, and plenty of quartzite countertops. Upstairs has 2 large master bedroom with their own upgraded master baths. Their is a =a enclosed patio and backyard perfect for bbq!

    Diane James World Impact Real Estate Gulf Breeze

    4735 Huron Dr, Pensacola, FL 32507

Showing Results 401 - 440, Page 11 of 17

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