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$989,000

Beds
4
Baths
2.0
sq ft
2,155

5801 Thomas Dr Unit 1404, Panama City, FL 32408

5801 Thomas Dr Unit 1404

Panama City Beach, FL 32408

  • 87 days on market
STUNNING!! SPACIOUS!! GULF FRONT!! PENTHOUSE!!If you've ever dreamed of owning a second home on the Gulf that also generates passive income, this is an incredible opportunity. A recent appraisal valued the property at $1,070,000, with rental income projections EXCEEDING $120,000. This means you can make a sound investment while enjoying INSTANT EQUITY. Welcome to Regency Towers 1404, situated on The World's Most Beautiful Beach! This impressive penthouse features FOUR spacious bedrooms PLUS an office, making it an ideal retreat for families or groups. The expansive balcony offers breathtaking, direct views of the Gulf, accessible from both the living room and the master bedroom. With the capacity to accommodate up to 15 guests, this residence is perfect for entertaining. Experience luxury with high-end finishes, including Luxury Vinyl Plank flooring, Quartz countertops, a mini bar with a wine fridge, and a stunning floor-to-ceiling electric fireplace. Regency Towers' fantastic amenities include two olympic size pools- one heated year round, full service tiki bar & grill, 10 person hot tub, kiddie pool, fitness center, billiards room, community room with kitchen for hosting events, multiple picnic areas with grills, and plenty of engaging in house activities are offered year round! Beach chair rentals, jet ski rentals, and parasailing offered right here on the beach! Located just minutes from St. Andrews state park, multiple boat launches, arcades, Go kart tracks, golf cart/scooter rental, bike rental, mini golf, amusement rides, Shipwreck Island Waterpark, favorite restaurants, clothing boutiques, jet ski/boat rental, Pier Park, and engaging Nightlife!!! All this & more at the World's Most Beautiful Beach!Penthouses like this rarely become available, so seize this unique chance to make Regency Towers 1404 your primary residence, vacation getaway, or short-term rental investment. Don't miss out on this extraordinary opportunity!

Details

Property type

Condominium

Est. home value

$875,245

Lot size

Unknown

Price per sq ft

$459

Year built

1982

Annual property taxes

$6,667

Monthly HOA fee

$1,332.19

Price History

08/23/2024
CentralPanhandle

CentralPanhandle #761729

Listed
$989,000
+19.88%
06/14/2023
CentralPanhandle

CentralPanhandle #738744

Sold
$825,000
+26.93%
11/16/2021
CentralPanhandle

CentralPanhandle #715221

Sold
$649,950

Schools & Community

Neighborhood: 

Lower Grand Lagoon

Elementary school: 

Patronis

Middle school: 

Surfside

High school: 

Arnold

Community features: 

Pool, Clubhouse, Fitness Center, Gated, Park

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

$285,213
Asking price
$989,000
Closing costs (~8% of asking)
-$79,120
Est. remaining loan balance
-$624,667
Cash to seller
$285,213

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

Seller’s Loan History

Lender

Lendsure Mortgage Corp

Loan start date

June 2023

Original loan amount

$634,995

Est. remaining balance

$624,667

Interest rate

6.43%

Loan type

New Conventional, 30 year

Seller

Neal Hoppe and Keir Hoppe

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: 11/19/2024 at 9:40 AM

Listing updated: 11/10/2024 at 2:31 PM

Listed by: Larell Paradise, Engel & Volkers 30A Beaches Phone #: (850) 213-2800

MLS: CentralPanhandle #761729

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