401 & 405 Massalina Drive, Panama City, FL 32401
Local realty services provided by:Better Homes and Gardens Real Estate Emerald Coast
401 & 405 Massalina Drive,Panama City, FL 32401
$1,700,000
- 10 Beds
- 8 Baths
- 4,856 sq. ft.
- Single family
- Active
Listed by: mike herring
Office: keller williams realty srb
MLS#:1006980
Source:FL_ECAR
Price summary
- Price:$1,700,000
- Price per sq. ft.:$350.08
About this home
ATTENTION!! 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....
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Home facts
- Year built:2025
- Subdivision & Development:COVE THE
- Listing ID #:1006980
- Added:78 day(s) ago
- Updated:September 22, 2026 at 03:00 PM
Rooms and interior
- Bedrooms:10
- Total bathrooms:8
- Full bathrooms:8
- Rooms Total:14
- Kitchen Description:Dishwasher, Disposal, Microwave, Refrigerator, Stove/Oven Electric
- Living area:4,856 sq. ft.
Heating and cooling
- Central air:Yes
Structure and exterior
- Year built:2025
- Building area:4,856 sq. ft.
- Lot area:0.14 Acres
- Architectural Style:Craftsman Style
- Exterior Features:Balcony, Fenced Area, Summer Kitchen
Schools
- High school:Bay
- Middle school:Jinks
- Elementary school:Cherry Street
Utilities
- Water:Public Water
Finances and disclosures
- Price:$1,700,000
- Price per sq. ft.:$350.08
- Tax amount:$842 (2025)
Features and amenities
- Appliances:Dishwasher, Disposal, Microwave, Refrigerator, Stove/Oven Electric
Parking
- Carport spaces:2
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