Date
Details
Price
Change
Source
7/05/2026
Listed
$865,000
—
MLS
Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.
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1/31
$865,000 Just Listed
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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.
Full Property Details
Full Property Details for 405 Massalina Dr
General
- Price: $865,000
- Status: Active
- Type: Single Family
- Source: Emerald_Coast
- MLS ID: 1006983
- Updated: 7/5/2026
- Added to Site: 5 day(s) ago
Interior
- Number of Rooms: 9
- Appliances: Dishwasher, Disposal, Microwave, Refrigerator, Stove/Oven Electric, Water Heater - Gas, Water Heater - Tnkls
Rooms
Bathrooms
- Total Bathrooms: 6
- Full Bathrooms: 6
Bedrooms
- Total Bedrooms: 7
Exterior
- Exterior Features: Balcony, Fenced Back Yard, Summer Kitchen
- Porch/Patio/Deck: Deck Open, Porch Open
Parking
- Carport Spaces: 2
- Parking Features: Carport Attached, Covered
Location
- Area: 27 - Bay County
- County: Bay
- Subdivision: COVE THE
- Driving Directions: 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
School Information
- Elementary School: Cherry Street
- Middle School: Jinks
- High School: Bay
Heating & Cooling
- Central air: Yes
- Air Conditioning: Yes
- Cooling Type: Central Air
- Heating Type: Central
- Heating/Cooling: Central, Central Air
Utilities
- Sewer: Public Sewer
- Utility Description: Electric, Public Water, TV Cable
Structural Information
- Architectural Style: Craftsman Style
- Construction: Siding CmntFbrHrdBrd
- Exterior Const.: Siding CmntFbrHrdBrd
- Stories/Levels: 2
- Square Feet: 2,988
- Sq. Ft. Source: County PA Records
- Year Built: 2025
Lot Features
- Property View: Bayou, Bay
- Lot Dimensions: 60 x 100
- Frontage: City Street
- Street/Road Desc.: Paved
- Lot Features: Bulkhead/Seawall, Corner, Within 1/2 Mile to Water
- Zoning: Resid Multi-Family, Resid Single Family
Water Features
- Water Front: Yes
- Water View: Yes
- Water Front Type: Bayou
Disclosures and Reports
- Legal Description: SUDDUTHS 1ST ADD. LOT 20 BLK 8 ORB 4783 P 213 MAP 105C2
- APN: 20456-000-000
- Property ID: 20456-000-000
Listed by Keller Williams Realty SRB
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Listing agent
— 405 Massalina Dr —
Keller Williams Realty SRB
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Schools
Schools serving 405 Massalina Dr
School District:Bay County School District
| Name | Grades | Distance |
|---|---|---|
Merriam Cherry Street Elementary School 1125 Cherry Street, Panama City, FL 32401 | PK-5 | 0.8 mi |
Jinks Middle School 600 West 11th Street, Panama City, FL 32401 | 6-8 | 1.3 mi |
Bay High School 1200 Harrison Avenue, Panama City, FL 32401 | 9-12 | 1.1 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 405 Massalina Dr
Estimate the Cost
Estimate the Cost for 405 Massalina Dr
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405 Massalina Drive, Panama City, FL 32401 (MLS# 1006983) is a Single Family property with 7 bedrooms and 6 full bathrooms. 405 Massalina Drive is currently listed for $865,000 and was received on July 05, 2026. Want to learn more about 405 Massalina Drive? Do you have questions about finding other Single Family 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.