$535,000
Panama City, FL 32401
MLS# 778925
7 beds | 5 baths | 3679 sqft
1 / 70
Property Description
Prime Panama City Investment - Dual-Home Gem Near Beach Drive! Unlock a rare opportunity with this investor's paradise in vibrant Panama City, FL! This dual-home property offers incredible income potential and lifestyle perks, just a short stroll from Beach Drive's stunning waterfront and the lively St. Andrews area. Whether you're an investor, a young family, or seeking a beachside retreat, this versatile property is your ticket to coastal living and financial success. Property Features: Two Distinct Homes on one deeded lot with separate postal addresses for maximum flexibility. Front Home: Expansive 5 bed, 3 full bath layout, currently generating $2,600/month in rental income. Back Home: Charming 2 bed, 2 bath unit, previously rented for $1,600/month, ideal for short-term or long-term rentals. Flexible Bonus Space: Over 200 sq ft in the garage, ready to convert into an extra bedroom and bathroom, entertainment hub, or home office. Two-Car Garage with convenient back alley access for additional parking and easy entry. Modern Upgrades: Post-Hurricane Michael new roof, sleek granite countertops, new appliances, updated HVAC, and a cost-saving well-powered irrigation system. Spacious Living Areas: Both homes boast large common spaces perfect for family gatherings or guest entertaining. Endless Possibilities: This property is a goldmine for investors! Keep the front unit rented, live in it as a family, or use the back unit for Airbnb or long-term tenants. The additional flex space allows you to boost rental income or customize for personal use. A young family could settle into the spacious front home while renting out the back to offset costs. The options are truly limitless! Unbeatable Location: Steps from Beach Drive: Enjoy morning walks or sunset views along Panama City's beautiful waterfront. St. Andrews Vibes: Savor top-tier restaurants, nightlife, and local charm just minutes away. Family-Friendly: Walk to the Bay County Library and nearby schools, making daily life a breeze. Central Convenience: Perfectly situated for work, play, and relaxation. Why Buy Now? With 7 bedrooms, 5 full bathrooms, and modern upgrades, this property blends affordability with opportunity. Live steps from the beach, enjoy rental income, and customize the space to suit your vision. Whether you're seeking a primary residence with income potential or a high-return investment, this Panama City gem delivers. Don't wait—this unique dual-home property won't last long! Schedule a tour today and seize your chance to own a slice of coastal paradise with endless potential.
Details
Maps
Contract Info
Status: Active
List Date: 2025-09-12
List Price: $535,000
List Price/SqFt: 145.42
Current Price: $535,000
Location
Area: 02 - Bay County - Central
Street #: 1016
Street Direction: W
Street Name: 12th
Street Suffix: Street
State: FL
Zip Code: 32401
County: Bay
Sub Area: 0203 - Bay - Central SW
Subdivision: Caroline Add Unit 2
Community/Resort: None
Waterfront: No
Parcel ID: 18868-000-000
Elementary School: Northside
Middle School: Jinks
High School: Bay
Directions: At the traffic circle, take the 1st exit onto W 19th St
0.5 mi
At the traffic circle, take the 2nd exit onto Balboa Ave
0.9 mi
Turn right onto W 12th St
463 ft
1016 W 12th St, Panama City, FL 32401
Legal Description: CAROLINE ADD. UNIT #2 W1/2 LOT 3 & PARCEL 100' BY 115' ADJ W. SIDE BLK 5-A ORB 4176 P 1906
General Property Info
Sub-Type: Detached Single Family
Design: Duplex
Apx SqFt(Htd/Cooled): 3679
SqFt Source: Prop App Site
Bedrooms: 7
Full Baths: 5
Total Baths: 5
Year Built: 1969
Immediate Occupancy: Yes
Construction Status: Construction Complete
New Construction: No
Garage Y/N: Yes
Garage Spaces: 2
Covered Spaces: 2
Driveway Spaces: 10
Lot Dimensions: 150 x 115
Acreage: 0.4
Lot Size (SqFt): 17250
Pool: No
Property Features
Appliances: Dishwasher; Ice Maker; Microwave; Refrigerator; Water Heater - Electric
Full Bathroom: Second
Bedroom: First; Second
Cooling: Ceiling Fan(s); Central Air
Heating: Electric
Exterior: Fenced Back Yard; Fenced Lot-All
Financing: Assume w/int; Cash; Conventional; FHA; USDA; VA; Other
Furnished: Unfurnished
Interior: Bonus Room
Lot Access: Alley
Master Bathroom: First
Parking Features: Additional Parking; Alley Access; Carport Attached; Drive Through; Driveway; Garage Attached
Other Structures: Guest House; Workshop
Rooms: Bedroom; Full Bathroom; Master Bathroom
Sale Type: As Is
Showing: ShowingTime
Utilities: TV Cable; Electricity - Connected; Garbage; Phone - Available; Sewer Available; Public Sewer - Connected; Public Water - Available; Public Water - Connected
Room Information
| Room Name | Level | Dimensions | Length | Width | Dimensions | Remarks |
| Master Bathroom | First | 14 x 16 | 14.00 | 16.00 | 14 x 16 | Estimate, Buyer Must Verify All Measurents |
| Bedroom | First | 14 x 16 | 14.00 | 16.00 | 14 x 16 | Estimate, Buyer Must Verify All Measurents |
| Bedroom | First | 10 x 10 | 10.00 | 10.00 | 10 x 10 | Estimate, Buyer Must Verify All Measurents |
| Bedroom | First | 10 x 12 | 10.00 | 12.00 | 10 x 12 | Estimate, Buyer Must Verify All Measurents |
| Bedroom | First | 10 x 10 | 10.00 | 10.00 | 10 x 10 | Estimate, Buyer Must Verify All Measurents |
| Bedroom | Second | 14 x 16 | 14.00 | 16.00 | 14 x 16 | Estimate, Buyer Must Verify All Measurents |
| Full Bathroom | Second | 14 x 16 | 14.00 | 16.00 | 14 x 16 | Estimate, Buyer Must Verify All Measurents |
Listing Office: Think Real Estate
Last Updated: September - 15 - 2025
Information deemed reliable but not guaranteed.