tomo logo

$529,000

Beds
3
Baths
2.0
sq ft
2,292

5701 S Lagoon Dr, Panama City, FL 32408

5701 S Lagoon Dr

Panama City, FL 32408

  • 18 days on market
This beautifully updated 3-bedroom, 2-bathroom home is just a quick golf cart ride from the sandy shores, making it perfect as a primary residence or an incredible vacation rental. Its prime location offers easy access to local attractions, shopping, and dining, while the thoughtfully designed split floor plan ensures privacy and comfortable living.In 2022, this home underwent significant updates, including brand-new tile flooring throughout, enhancing its modern, low-maintenance appeal. The kitchen features granite countertops, custom cabinetry, and newer appliances, including a brand-new dishwasher installed in 2024.The electrical work, completed in 2022 by a licensed electrican, adds incredible value. A 100-amp subpanel powers the spacious storage building, offering the potential to convert it into a fully functional apartment. Additionally, wiring for a pool has already been completed, saving the next owner up to $10,000 in future installation costs.The home's ductwork was also updated in 2022, ensuring efficient cooling and heating. The cabana, equipped with a new AC unit installed this year, offers an extra living space ideal for guests, a home office, or even a cozy entertainment area.The spacious backyard has room for a pool, and existing plans can be provided to help you bring your vision to life. Plus, with a large utility room and a 2-car garage, you'll have all the storage you need.This is a rare opportunity to own a meticulously maintained home that blends coastal convenience with modern upgrades. Don't miss out--schedule your private tour today

Details

Property type

Single Family Residence

Est. home value

$558,634

Lot size

6,534 sq ft

Price per sq ft

$231

Year built

1983

Annual property taxes

$5,116

HOA

No

Price History

12/03/2024
CentralPanhandle

CentralPanhandle #765740

Listed
$529,000
-3.8%
10/17/2024
CentralPanhandle

CentralPanhandle #757347

Removed
$549,900
06/27/2024
CentralPanhandle

CentralPanhandle #757347

Price change
$549,900
-6%

Schools & Community

Neighborhood: 

Lower Grand Lagoon

Elementary school: 

Patronis

Middle school: 

Surfside

High school: 

Arnold

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

$79,158
Asking price
$529,000
Closing costs (~8% of asking)
-$42,320
Est. remaining loan balance
-$407,522
Cash to seller
$79,158

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

Seller’s Loan History

Lender

Homexpress Mortgage Corp

Loan start date

June 2022

Original loan amount

$416,000

Est. remaining balance

$407,522

Interest rate

5.1%

Loan type

New Conventional, 40 year

Seller

John Patrick Russell

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: 12/22/2024 at 4:05 AM

Listing updated: 12/06/2024 at 12:00 PM

Listed by: Christi R Duncan, Beachy Beach Real Estate Phone #: (850) 233-4351

MLS: CentralPanhandle #765740

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