tomo logo

$675,000

Beds
5
Baths
3.0
sq ft
1,963

5928 Beach Dr, Panama City, FL 32408

5928 Beach Dr

Panama City, FL 32408

  • 240 days on market
    • Price drop $10,000↓
Income-Generating Gem: Investor's Dream in Panama City Beach! Turnkey High-Earning Vacation Rental - Prime Opportunity!This 5-bedroom, 3-bathroom, single-story home is a proven cash-flow powerhouse! With a 2023 gross rental income of $93,000 and 2024 on track for similar success, this property outperforms projections year after year. Fully turnkey, it conveys all updated furnishings, decor (refreshed in 2023), and smart home features, including digital thermostats and exterior cameras. Whether you're a seasoned investor or a first-time buyer, this property is set up for seamless management and maximum occupancy, comfortably accommodating up to 12 guests.Exceptional Features Designed for High DemandGuest-Friendly Layout: Single-story home with zero stairs, tile flooring throughout, vaulted ceilings, and stainless steel appliances.Entertainment Spaces: Two enclosed porches, multiple dining areas, and a private backyard with a fire pit, BBQ grill, and plenty of room for outdoor fun.Enhanced Amenities: Pet-friendly backyard, outdoor shower, a spacious laundry/utility room with a second refrigerator, and ample parking for guests.Group-Friendly Design: Two King en-suites (one with patio access), two Queen bedrooms, and a double bunk bedroom ensure privacy and comfort for families or group bookings.Prime Location for Year-Round BookingsKnown as ''Pelican Paradise'' on Airbnb, this rental boasts 65 reviews with a 4.62-star average rating. Located just blocks from a public boat ramp, it's perfect for water enthusiasts bringing boats or jet skis. Public beach access is nearby, with Rick Seltzer Beach Park and St. Andrews State Park just a mile away. Local dining, entertainment, and golf are within a two-mile radius, making this property an in-demand destination for vacationers.Added Value for Buyers: The motivated seller is offering $800 toward a home warranty at closing, providing peace of mind for the next owner.This is your chance to own a high-performing, low-maintenance investment property in the heart of Panama City Beach's vacation rental market. Don't wait--contact your real estate agent today to schedule a showing or request more details!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

$344

Year built

1997

Annual property taxes

$4,826

HOA

No

Price History

12/04/2024
CentralPanhandle

CentralPanhandle #756259

Price change
$675,000
-1.46%
11/03/2024
CentralPanhandle

CentralPanhandle #756259

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

CentralPanhandle #756259

Price change
$695,000
-3.47%

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

$41,675
Asking price
$675,000
Closing costs (~8% of asking)
-$54,000
Est. remaining loan balance
-$579,325
Cash to seller
$41,675

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

$579,325

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: 12/23/2024 at 8:35 AM

Listing updated: 12/10/2024 at 9:59 PM

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

MLS: CentralPanhandle #756259

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