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$475,000

Beds
3
Baths
2.0
sq ft
1,136

616 Lake Powell Dr, Panama City Beach, FL 32413

616 Lake Powell Dr

Panama City Beach, FL 32413

  • 1 day on market
Charming 3BR/2BA Beach Cottage in West End Panama City Beach - No HOA!Welcome to this beautifully updated three-bedroom, two-bathroom beach cottage in the highly sought-after West End of Panama City Beach. With no HOA restrictions, this property offers the freedom and flexibility that homeowners and investors desire. Ideally situated between Rosemary Beach and Pier Park, this home provides the perfect combination of charm, convenience, and investment potential. Whether you are looking for a vacation home, a short-term rental, or a primary residence, this property is an excellent choice.Key Features:No HOA - Enjoy complete ownership freedom with no restrictive fees or regulations.Prime Location - Just a short walk or golf cart ride to the sugar-white sandy beaches of the Gulf and close to Lake Powell Park, which features a boat launch, playground, and picnic area. Just a short drive or walk to Publix.Move-In Ready - Freshly painted interior with new wood-look tile flooring, new appliances, new granite countertops, upgraded lighting fixtures, and custom carpentry throughout.Spacious Living Area - An open floor plan with abundant natural light and a cozy fireplace creates a warm and inviting atmosphere.Outdoor Living Space - A large backyard, white picket fenced front yard, and a fire pit provide the perfect setting for relaxation and entertaining.Thriving Growth Area - Located near the highly anticipated Mainstead at Carillon development, which will bring upscale residential units, premier dining, and shopping to the area. Convenient access to Publix, Front Beach Road beach access, and Lake Powell's boat launch further enhance the location's appeal.This home is a prime investment opportunity in one of the fastest-growing areas where Panama City Beach meets Scenic Highway 30A. Whether you are looking for a high-income-producing short-term rental, a peaceful second home, or a full-time coastal retreat, this property offers endless possibilities.Do not miss this opportunity to own a home in one of the most desirable beachside communities. Contact us today to schedule a private showing.

Details

Property type

Single Family Residence

Est. home value

$394,695

Lot size

5,445 sq ft

Price per sq ft

$419

Year built

1999

Annual property taxes

$4,030

HOA

No

Price History

02/20/2025
CentralPanhandle

CentralPanhandle #769109

Listed
$475,000
+24.67%
08/28/2023
CentralPanhandle

CentralPanhandle #742285

Sold
$381,000

Schools & Community

Elementary school: 

West Bay

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

$136,685
Asking price
$475,000
Closing costs (~8% of asking)
-$38,000
Est. remaining loan balance
-$300,315
Cash to seller
$136,685

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

Seller’s Loan History

Lender

Kind Lending Llc

Loan start date

August 2023

Original loan amount

$304,800

Est. remaining balance

$300,315

Interest rate

6.96%

Loan type

New Conventional, 30 year

Seller

Melvil Arnt

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?

Status: Active

Tomo last checked: 02/21/2025 at 2:20 PM

Listing updated: 02/20/2025 at 11:59 AM

Listed by: Rachel N Warrell, eXp Realty, LLC Phone #: (850) 896-5899

MLS: CentralPanhandle #769109

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