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Michael Herring

mherringrealestate@gmail.com +1(850) 321-0917

$ 865,000

Est. payment -/mo

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405 Massalina DR Panama City, FL 32401

7 Beds

6 Baths

2,988 SqFt

UPDATED:

Key Details

Property Type Single Family Home

Sub Type Detached Single Family

Listing Status Active

Purchase Type For Sale

Square Footage 2,988 sqft

Price per Sqft $289

Subdivision Cove The

MLS Listing ID 1006983

Style Craftsman Style

Bedrooms 7

Full Baths 6

HOA Y/N No

Year Built 2025

Lot Dimensions 60x100

Property Sub-Type Detached Single Family

Source Emerald Coast Association of REALTORS®

Land Area 2988

Property Description

$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. Waterfront masterpiece with deep water access to the Bay and the Gulf of Mexico. 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.
New custom landscaping and 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. Direct views of Massalina Bayou offering serene surroundings and a true coastal lifestyle. Prime location near top shopping, dining, entertainment, and local attractions. This unique combination of parcels provides endless possibilities--multigenerational living, a fully income-producing investment, or use the carriage house a primary residence and rent out the fourplex for excellent rental income. With its unmatched flexibility, new construction quality, and breathtaking bayou views, this property checks all the boxes.

Location

State FL

County Bay

Area 27 - Bay County

Zoning Resid Multi-Family, Resid Single Family

Direction US-98 BUS E/W Beach Drive, turn left on 4th St, right on Oak Avenue, left to W 4th St. cross over bridge. Home is on the left. Corner Massalina Drive and 4th St

Rooms

Kitchen true

Interior

Heating Central

Cooling Central Air

Window Features Window Treatment All

Appliance Dishwasher, Disposal, Microwave, Refrigerator, Stove/Oven Electric, Water Heater - Gas, Water Heater - Tnkls

Exterior

Exterior Feature Balcony, Fenced Back Yard, Summer Kitchen, Open Deck, Open Porch, Fenced Backyard, Summer Kitchen, Balcony

Parking Features Carport Attached, Covered

Carport Spaces 2

Utilities Available Electric, Public Water, TV Cable

Waterfront Description Bayou

View Bayou, Bay

Street Surface Paved

Porch Deck Open, Porch Open

Road Frontage City Street

Garage No

Building

Lot Description Bulkhead/Seawall, Corner, Within 1/2 Mile to Water

Faces US-98 BUS E/W Beach Drive, turn left on 4th St, right on Oak Avenue, left to W 4th St. cross over bridge. Home is on the left. Corner Massalina Drive and 4th St

Story 2

Sewer Public Sewer

Architectural Style Craftsman Style

New Construction No

Schools

Elementary Schools Cherry Street

Middle Schools Jinks

High Schools Bay

Others

Pets Allowed No

Tax ID 20456-000-000

Listed by Mike Herring Keller Williams Realty SRB

Michael Herring

Broker Associate | License ID: BK3256219

+1(850) 321-0917

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Michael Herring

405 Massalina DR Panama City, FL 32401

Key Details

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Rooms

Interior

Exterior

Building

Schools

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405 Massalina DR