tomo logo

$599,000

Beds
9
Baths
6.5
sq ft
4,280

141 Cheri Ln, Panama City, FL 32404

141 Cheri Ln

Panama City, FL 32404

  • 145 days on market
    • Price drop $51,000↓
This impressive two-story quadplex in Panama City presents a prime investment opportunity. Fully rented and generating $4,950 monthly, this eight-bedroom, nine-bathroom property spans more than 4,280 square feet of heated and cooled space. With a new roof, newer water heaters and updated interiors and exteriors, this property offers both stability and modern amenities. Comprising three two-bedroom, 1.5-bath units (972 square feet each) and one spacious three-bedroom, two-bath unit (1,364 square feet), this property is designed to attract and retain tenants. Each unit features updated flooring, refreshed kitchens and new paint throughout. The exterior has been similarly revitalized, ensuring excellent curb appeal. Ideal for investors and military personnel, this property is located in a great area, offering easy access to local amenities and services. With a new HVAC system and updated fixtures, this quadplex is fully equipped to continue generating reliable rental income.

Details

Property type

Townhouse

Est. home value

$474,955

Lot size

0.26 acres

Price per sq ft

$140

Year built

1984

Price History

10/28/2024
EmeraldCoast

EmeraldCoast #955951

Price change
$599,000
-7.85%
08/01/2024
EmeraldCoast

EmeraldCoast #955951

Listed
$650,000
+44.44%
03/18/2022
CentralPanhandle

CentralPanhandle #721307

Sold
$450,000

Schools & Community

Elementary school: 

Parker

Middle school: 

Rutherford ( Middle )

High school: 

Rutherford

Negotiation Insights

Before you make an offer, understand who you are negotiating with so you can tailor your negotiation strategy to their situation.

Seller could get up to

$231,803
Asking price
$599,000
Closing costs (~8% of asking)
-$47,920
Est. remaining loan balance
-$319,277
Cash to seller
$231,803

This is an estimate of how much the seller could receive at closing after paying off the outstanding mortgage.

Seller’s Loan History

Lender

Fairway Independent Mortgage Corp

Loan start date

March 2022

Original loan amount

$337,500

Est. remaining balance

$319,277

Interest rate

3.55%

Loan type

New Conventional, 30 year

Seller

Marc Joseph Vihnanek Jr

Source: Public records data

If you're the owner, you can request to remove loan details. Email listingsupport@tomo.com

How insights can help you

Interest rate

If the seller has a low interest rate, they may be tempted to rent the property out if they can't get the price they have in mind.

Motivation

If the seller already got a job in a different city, they may feel pressure to sell quickly to free up cash for a new home.

Equity

If the seller stands to receive a large amount of cash when they sell the property, they might be willing to negotiate on the offer price.

Interested in learning more?

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Status: Active

Tomo last checked: 12/24/2024 at 3:15 PM

Listing updated: 11/14/2024 at 12:16 PM

Listed by: Whitney E Cooley, Whitney E Cooley, Whitney E Cooley, Whitney E Cooley, Scenic Sotheby's International Realty Phone #: (850) 231-6052

MLS: EmeraldCoast #955951

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