BEDS7
BATHS6 full
SQUARE FEET2,988
MLS#1006983
STATUSActive
PROPERTY TYPEResidential - Single Family
SUBDIVISIONCOVE THE
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.
Property Features
Property Type: Residential - Single Family
Cooling: Central Air
Fenced: Yes
Heating: Central
Home Style: Craftsman Style
Lot Size: 0.14 Acres
Stories: 2.0
Year Built: 2025
Feature Descriptions
Appliances: Dishwasher, Disposal, Microwave, Refrigerator, Stove/Oven Electric, Water Heater - Gas, Water Heater - Tnkls
Carport Spaces: 2
Days on Site: 10
Exterior: Balcony, Fenced Back Yard, Summer Kitchen
Exterior: Siding CmntFbrHrdBrd
Lot: Bulkhead/Seawall, Corner, Within 1/2 Mile to Water
Lot Dimensions: 60x100
Parcel Number: 20456-000-000
Parking: Carport Attached, Covered
Patio/Porch: Deck Open, Porch Open
Property Condition: Construction Complete
Road Frontage: City Street
Road Surface: Paved
Rooms Total: 9
Sewer: Public Sewer
Special View Info: Bayou, Bay
Sub Type: Detached Single Family
Utilities: Electric, Public Water, TV Cable
Waterfront: Bayou
Window: Window Treatment All
Local Schools
High School: Bay
Middle School: Jinks
Elementary School: Cherry Street
Listed By / Shown By
Listed By
Agency Name: Keller Williams Realty SRB
Shown By
Agency Title: RealtyMark
Agency Phone: 888-260-0040
Estimate Your Payment
Estimated Payment
$ 2,177.41 per month $1,925.12 Principal & Interest $0.00 Property Tax (data not provided by mls) $252.29 Homeowner's InsuranceChange Payment Information
405 Massalina Drive | MLS# 1006983
This single family home located at 405 Massalina Drive, Panama City, FL 32401 is currently listed for sale with an asking price of $865,000. This property was built in 2025 and has 7 bedrooms and 6 full baths with 2988 sq. ft. Massalina Drive is located in the COVE THE subdivision. Search COVE THE real estate on www.realtymark.net today.