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$1,499,000

  • For Sale
  • Active
  • Single Family
  • 4 Beds
  • 3 Full Baths
  • 1 Partial Bath
  • Updated 11 days ago
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First time to hit the market, 4 bedroom(plus bunk room) RENTAL POWERHOUSE on the highly sought after East End. One home off the water on a stretch of beach not overrun with condos. Owners, investors and tourists/guests LOVE this area for that exact reason. Schooners is on Gulf Dr- a 6 min walk, St Andrews State Park is 1 mile away, and the some of the beach's very best restaurants are concentrated in this Lower Lagoon area. Not to mention the sandy white beach directly across from this home. There's a King master ensuite on the first floor along with the kitchen, dining and living area, the laundry room and a half bathroom. Off of this is a door leading to an outdoor oasis. A heated optional pool with a lounge area and high top dining area. Upstairs is an additional Master King ensuite with a large balcony with views of the Gulf, 2 more bedrooms, bathroom and a bunkroom rounds out the upstairs area. This home has a strong rental history and great reviews. It's being sold furnished. Its sister property, identical in layout, 2 doors down is listed for sale as well.

Full Property Details for 5516 Gulf Dr

General

  • Price: $1,499,000
  • Taxes: $10,627 (2025)
  • Status: Active
  • Type: Single Family
  • Source: Bay_County
  • MLS ID: 794031
  • Updated: 8/13/2026
  • Added to Site: 11 day(s) ago

Interior

  • Number of Rooms: 7
  • Interior Features: Balcony, Double Vanity, Interior Steps, Main Level Primary, Separate Shower, Walk-In Closet(s)
  • Appliances: Electric Cooktop, Electric Oven, Ice Maker

Rooms

Bathrooms

  • Total Bathrooms: 4
  • Full Bathrooms: 3
  • Half Bathrooms: 1

Bedrooms

  • Total Bedrooms: 4

Additional Information

  • Pool: Yes
  • Private Pool: Yes
  • Pool Description: Electric Heat, In Ground, Private
  • Security/Safety: Smoke Detector(s)

Exterior

  • Exterior Features: Covered Patio, Deck
  • Porch/Patio/Deck: Balcony, Deck, Covered, Porch

Location

  • County: Bay
  • Subdivision: Gulf Lagoon Beach
  • Driving Directions: Traveling southeast on Thomas Dr take a right on Biltmore, left on Gulf Drive, home is second on left.

School Information

  • Elementary School: Patronis
  • Middle School: Surfside
  • High School: Arnold

Community

  • Community Name: 03 - Bay County - Beach

Heating & Cooling

  • Central air: Yes
  • Air Conditioning: Yes
  • Cooling Type: Central Air, Ceiling Fan(s)
  • Heating Type: Central

Utilities

  • Sewer: Public Sewer
  • Utility Description: Electricity Available, Natural Gas Available

Structural Information

  • Architectural Style: Coastal
  • Roof: Metal
  • Stories/Levels: 2
  • Sq. Ft. Source: Appraiser
  • Year Built: 2019

Lot Features

  • Property View: Gulf
  • Lot Size (Acres): 0.13
  • Lot Size (Sq. Ft.): 5,663
  • Lot Size: .13
  • Lot Dimensions: 50.0 ft x 115.0 ft
  • Lot Features: Paved
  • Zoning: Resid Single Family
  • Fencing (Description): Fenced

Water Features

  • Water View: Yes

Financial Considerations

  • Tax Amount: $10,627
  • Tax Year: 2025

Disclosures and Reports

  • Legal Description: GULF LAGOON BEACH LOT 11 BLK 7 ORB 4278 P 284
  • Property ID: 32296-000-000

Listed by Counts Real Estate Group Inc

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Listing agents

— 5516 Gulf Dr —

  • Counts Real Estate Group Inc

  • Counts Real Estate Group Inc

Get Pre-Approved Today

Be ready to buy your new home!

with our affiliated lender
NMLS#: 1598647

Get Pre-Approved

Be ready to buy your new home!

with our affiliated lender
NMLS#: 1598647

Get Pre-Approved

Schools serving 5516 Gulf Dr

School District:Bay County School District
NameGradesDistance
Patronis Elementary School
7400 Patronis Dr, Panama City Beach, FL 32408
K-51.8 mi
Surfside Middle School
300 Nautilus Street, Panama City Beach, FL 32413
6-87.2 mi
J.R. Arnold High School
550 North Alf Coleman Road, Panama City Beach, FL 32407
9-125.5 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 5516 Gulf Dr Get Price Alerts and Save Property

Date
Details
Price
Change
Source
8/13/2026
Listed
$1,499,000
87.61%
MLS
10/11/2019
Sold
$799,000
—
Public Record
Get Price Alerts and Save Property
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 for 5516 Gulf Dr

Year
Property Taxes
Change
Tax Assessment
Change
2024
$10,055
—
$790,602
-16%
2024
$10,055
-7%
$941,329
-17%
2023
$10,846
50%
$1,134,552
89%
2021
$7,235
5%
$599,971
1%
2022
$6,908
-5%
$593,835
-7%
2021
$7,235
595%
$641,444
1137%
2019
$1,041
76%
$51,853
10%
2018
$590
-75%
$47,139
-75%
2017
$2,368
-22%
$187,899
-15%
2016
$3,047
-1%
$221,767
2%
2015
$3,075
-10%
$217,857
-11%
2014
$3,428
—
$244,932
-11%
2013
$3,415
—
$275,292
—
View All
Disclaimer: Historical tax information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.

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*These costs are estimates, and the interest rates assume exceptional credit standing.

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NMLS#: 1598647

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Listed by Counts Real Estate Group Inc

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5516 Gulf Drive, Panama City, FL 32408 (MLS# 794031) is a Single Family property with 4 bedrooms, 3 full bathrooms and 1 partial bathroom. 5516 Gulf Drive is currently listed for $1,499,000 and was received on August 14, 2026. Want to learn more about 5516 Gulf 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.

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