tomo logo

$685,000

Beds
5
Baths
3.0
sq ft
1,963

5928 Beach Dr, Panama City, FL 32408

5928 Beach Dr

Panama City, FL 32408

  • 196 days on market
    • Price drop $10,000↓
Investor's Dream in Panama City Beach! High-Earning Vacation Rental with Strong History and Exceptional Features!This property is a proven income generator, with rental data showing consistently impressive returns--outperforming projections year after year! With a 2023 gross rental income of $93,000, and 2024 looking to finish just as strong, this 5-bedroom, 3-bathroom, single-story home is set up for maximum occupancy and comfort, accommodating up to 12 guests. It's fully turnkey, conveying all furniture and decor (updated in 2023) along with smart technology like digital thermostats and exterior floodlight cameras. Perfectly poised for the vacation rental market, the property offers coastal furnishings, spacious layouts, and valuable features that will continue to attract and retain renters. This property has been designed with durability and style in mind!Prime Features for High Occupancy Rates:Zero stairs making easy access for guests of all ages, tile flooring throughout, stainless steel appliances, and vaulted ceilings. Multiple Gathering Areas: Two enclosed porches, multiple dining spaces, and a private backyard with ample room for entertainingGuest-Focused Amenities: Laundry/utility room with an additional refrigerator, outdoor shower, pet-friendly backyard with grassy space, and a paver patio complete with a fire-pit and BBQ grillPrivacy for Groups: Spacious primary King ensuite with back patio access, secondary King ensuite, two Queen bedrooms, and a double bunk bedroom--ideal for large families or group bookings.Prime Location & Strong Reviews! This Airbnb rental, known as ''Pelican Paradise,'' boasts 62 reviews with a 4.63 average rating. Just blocks from a public boat ramp, renters can bring their boat or jet ski, adding appeal for guests seeking water-based adventures. Public beach access is nearby, with Rick Seltzer Beach Park and St Andrews State Park each only a mile away. Local dining, entertainment, and golf are within a two-mile radius, making this a highly desirable rental location in Panama City Beach.Additional Incentives: The motivated seller is offering $800 toward a home warranty at closing. Don't miss the chance to acquire this high-earning, low-maintenance investment property. Contact your real estate agent today to learn more or schedule a showing.Note: Buyer to verify all measurements and any information deemed important.

Details

Property type

Single Family Residence

Est. home value

$692,473

Property condition

Updated/Remodeled

Lot size

6,000 sq ft

Price per sq ft

$349

Year built

1997

Annual property taxes

$4,826

HOA

No

Price History

11/03/2024
CentralPanhandle

CentralPanhandle #756259

Price change
$685,000
-1.44%
09/05/2024
CentralPanhandle

CentralPanhandle #756259

Price change
$695,000
-3.47%
08/13/2024
CentralPanhandle

CentralPanhandle #756259

Listed
$720,000

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

$50,209
Asking price
$685,000
Closing costs (~8% of asking)
-$54,800
Est. remaining loan balance
-$579,991
Cash to seller
$50,209

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

Seller’s Loan History

Lender

United Wholesale Mortgage

Loan start date

November 2022

Original loan amount

$595,000

Est. remaining balance

$579,991

Interest rate

6.02%

Loan type

New Conventional, 30 year

Seller

Daniel C Denning and Melissa J Denning

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: 11/08/2024 at 3:55 PM

Listing updated: 11/04/2024 at 5:30 PM

Listed by: Amy L Killian, Beachy Beach Real Estate Phone #: (850) 233-4351

MLS: CentralPanhandle #756259

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