401 & 405 Massalina DR Panama City, FL 32401
10 Beds
8 Baths
4,856 SqFt
UPDATED:
Key Details
Property Type Single Family Home
Sub Type Single Family Residence
Listing Status Active
Purchase Type For Sale
Square Footage 4,856 sqft
Price per Sqft $350
Subdivision Cove
MLS Listing ID 792227
Style Craftsman
Bedrooms 10
Full Baths 8
HOA Y/N No
Year Built 2025
Tax Year 2025
Lot Size 0.280 Acres
Acres 0.28
Property Sub-Type Single Family Residence
Property Description
3 SEPARATE STRUCTURES, 2 SEPARATE PARCELS, 1 AWESOME PRICE!! Zoned for short term and long term rental.
Waterfront on Massalina Bayou!
Main House: Amazing 3-bedroom 2-bath with den/office *new construction*. Gorgeous views from covered porches on both floors. First floor has open kitchen with Forno Italian stainless appliances, large Island, gas stove, double door refrigerator w/ice maker and wine cooler. Living/dining walk out large sliding doors to covered porch, outdoor Thor stainless summer kitchen and pool/bayou views. Master bedroom and master bath with large custom shower, double vanity sink and walk in closet. Second floor open family room, den/office, large sliding doors to walk to walk out to covered porch overlooking pool/bayou. Two additional bedrooms and one bath. So much to offer with beautifully designed tile flooring throughout, tankless water heater and extra storage.
401 Massalina Drive is under a lease for 5 months with potential for 2 month extension. $3600 per month and includes utilities and pool service.
405 Massalina Drive:
Carriage House plus Quadplex/Fourplex:
$7100 per month or $85,200 per year in rental income from the carriage house and quadplex/fourplex. Perfect for a DSCR loan where your rental income pays for your mortgage, plus you get a dock and a place to park your boat on deep water. This is the most versatile quadplex/fourplex plus carriage house (comes fully furnished) in Panama City. Here is the rental income breakdown: Carriage house = $1750 per month; Apartment 1 (Civil Contractor) = $1450 per month; Apartment 2 (Realtor) = $1450 per month; Apartment 3 (Property Maintenance Man) = $1,000 per month (reduced because he takes care of the lawn and pool - you could charge $1450); Apartment 4 (Josh) = $1450 per month; Total income = $7100 per month or $85,200 per year.
New custom landscaping and pool to relax and enjoy. Beautiful decking, shared dock with fish cleaning station. Location is easy to access to newly renovated downtown entertainment with shopping, dining, concerts and ongoing festivities.
Location
State FL
County Bay
Community Short Term Rental Allowed
Area 02 - Bay County - Central
Interior
Interior Features Double Vanity, Interior Steps, Main Level Primary, Walk-In Closet(s)
Heating Electric
Cooling Central Air, Ceiling Fan(s)
Fireplace No
Appliance Gas Range, Tankless Water Heater
Exterior
Pool Electric Heat, In Ground, Private
Community Features Short Term Rental Allowed
Utilities Available Sewer Available
Waterfront Description Bayou,Seawall
Water Access Desc Bayou,Seawall
View Bayou
Roof Type Metal
Porch Covered, Patio
Private Pool Yes
Building
Lot Description Sprinkler System, Paved
Story 2
Entry Level Two
Architectural Style Craftsman
Level or Stories Two
New Construction Yes
Schools
Elementary Schools Cherry Street
Middle Schools Jinks
High Schools Bay
Others
Restrictions Short Term Rentals Allowed
Tax ID 20456-010-000
Special Listing Condition Listed As-Is
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