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Property Description
**Income-Producing Duplex in Downtown Panama City with Massalina Bayou Views!** Welcome to 339 Mercedes Avenue in Panama City, Florida, a fully furnished, turnkey duplex offering an incredible opportunity for investors, house hackers, or buyers looking for flexible living options near Downtown Panama City. This income-producing multifamily property is full of possibilities, live in one side and rent the other to help offset your monthly expenses, create space for multigenerational living, or rent both units for additional income potential. One side is currently being utilized as a short-term rental, making this property an attractive option for buyers looking for an established furnished rental setup. Both sides have been thoughtfully updated throughout and are being sold, fully furnished and turnkey, allowing the next owner to step right in. Each unit also offers its own spacious backyard, providing plenty of outdoor space for residents and guests. One of the standout features is the view of Massalina Bayou, giving this investment property a unique coastal Panama City setting while keeping you close to everything. Located near Downtown Panama City, shopping, dining, Ascension Sacred Heart Bay, and Tyndall Air Force Base, with Panama City Beach and the beautiful Gulf Coast beaches just a short drive away. Whether you're searching for a duplex for sale in Panama City, FL, an income-producing property, a furnished investment property, or a home where you can live in one unit and rent the other, 339 Mercedes Avenue offers flexibility, location, and investment potential all in one property. Live in one. Rent the other. Rent them both. The possibilities are yours at 339 Mercedes Avenue.
Full Property Details
Full Property Details for 339 Mercedes Ave
General
- Price: $499,000
- Taxes: $5,766 (2025)
- Status: Active
- Type: Duplex
- Source: Bay_County
- MLS ID: 796225
- Updated: 10/5/2026
- Added to Site: 6 day(s) ago
Interior
- Number of Rooms: 4
- Interior Features: Tub Shower
- Appliances: Electric Oven, Electric Range, Electric Water Heater
- Flooring: Plank, Vinyl
Rooms
Bathrooms
- Total Bathrooms: 3
- Full Bathrooms: 3
Bedrooms
- Total Bedrooms: 4
Additional Information
- Security/Safety: Smoke Detector(s)
Exterior
- Exterior Features: Patio
- Porch/Patio/Deck: Balcony, Patio
Parking
- Parking Features: No Garage
Location
- County: Bay
- Subdivision: Sudduths 4th Add
- Driving Directions: Take 77 South to N Cove Blvd. Turn Left on 4th Street. Turn Right on Mercedes Ave. Duplex is on Right.
School Information
- Elementary School: Cherry Street
- Middle School: Jinks
- High School: Bay
Community
- Community Name: 02 - Bay County - Central
Heating & Cooling
- Central air: Yes
- Air Conditioning: Yes
- Cooling Type: Central Air, Ceiling Fan(s)
- Heating Type: Central
Utilities
- Sewer: Public Sewer
Structural Information
- Architectural Style: Duplex
- Structure Type: Duplex
- Construction: Stucco, Wood Frame
- Roof: Composition, Shingle
- Sq. Ft. Source: Appraiser
- Year Built: 1984
Lot Features
- Property View: Bayou
- Lot Size (Acres): 0.17
- Lot Size (Sq. Ft.): 7,405
- Lot Size: .17
- Lot Dimensions: 50.0 ft x 150.0 ft
- Frontage: City Street
- Lot Features: Paved
- Zoning: Resid Multi-Family
- Fencing (Description): Full, Fenced
Water Features
- Water View: Yes
Financial Considerations
- Tax Amount: $5,766.34
- Tax Year: 2025
Disclosures and Reports
- Special Conditions: Listed As-Is
- Legal Description: SUDDUTH'S 4TH ADD S 24' OF N 45' OF LOT 22 & S 5' OF LOT 23 & N 21' OF LOT 22 BLK 60 ORB 4601 P 470
- Property ID: 21232-010-000
Listed by Counts Real Estate Group Inc
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Schools
Schools serving 339 Mercedes Ave
School District:Bay County School District
| Name | Grades | Distance |
|---|---|---|
Merriam Cherry Street Elementary School 1125 Cherry Street, Panama City, FL 32401 | PK-5 | 0.5 mi |
Jinks Middle School 600 West 11th Street, Panama City, FL 32401 | 6-8 | 1.7 mi |
Bay High School 1200 Harrison Avenue, Panama City, FL 32401 | 9-12 | 1.4 mi |
Disclaimer:
School attendance boundaries provided by ATTOM Data Solutions and are for reference only. Contact the school directly to verify enrollment eligibility.
Price & Sales History for 339 Mercedes Ave
Date
Details
Price
Change
Source
10/03/2026
Listed
$499,000
36.71%
MLS
8/17/2022
Sold
$365,000
—
Public Record
Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.
Tax History
Tax History for 339 Mercedes Ave
Year
Property Taxes
Change
Tax Assessment
Change
2024
$6,113
—
$384,580
5%
2024
$6,113
15%
$366,131
18%
2023
$5,293
155%
$310,177
173%
2021
$2,075
-2%
$113,735
-4%
2022
$2,127
3%
$118,248
17%
2021
$2,075
27%
$101,020
—
2019
$1,628
-13%
$100,750
-18%
2018
$1,865
1%
$123,175
—
2017
$1,849
-2%
$123,404
—
2016
$1,892
-2%
$123,383
1%
2015
$1,934
—
$122,662
-1%
2014
$1,936
8%
$123,821
—
2013
$1,799
—
$124,280
—
Disclaimer: Historical tax information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.
Estimate the Cost
Estimate the Cost for 339 Mercedes Ave
339 Mercedes Avenue, Panama City, FL 32401 (MLS# 796225) is a Duplex property with 4 bedrooms and 3 full bathrooms. 339 Mercedes Avenue is currently listed for $499,000 and was received on October 03, 2026. Want to learn more about 339 Mercedes Avenue? Do you have questions about finding other Duplex real estate for sale in Panama City? You can browse all Panama City real estate or contact a Coldwell Banker agent to request more information.

