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$594,995

Beds
2
Baths
2.0
sq ft
1,379

6201 Thomas Dr Unit 406, Panama City, FL 32408

6201 Thomas Dr Unit 406

Panama City Beach, FL 32408

  • 1 day on market
    • Price drop $5↓
Discover an exceptional investment opportunity at one of the beach's most well-managed resorts, with solid budget and reserves. Elevate your coastal lifestyle at the luxurious Watercrest resort, where stunning sunsets and exceptional convenience are just steps from the elevator. It's prime location on the desirable 4th floor, directly across from the elevator, ensures effortless accessibility.Imagine stepping off the elevator and into your personal oasis, a front-row seat to the mesmerizing Gulf of America. This turn key residence offers a spacious two-bedroom layout with two beautifully remodeled bathrooms. The modern kitchen features quartz countertops and newer black stainless steel appliances, creating a stylish and functional space.Owners generously invested in this beach getaway's recent upgrades, including a newer AC, windows, sliding doors, kitchen, bathrooms, and entry door. Whether you seek a second home or a high-income rental property, this condo can generate nearly $70,000 annually.

Details

Property type

Condominium

Est. home value

$676,923

Lot size

Unknown

Price per sq ft

$432

Year built

1987

Annual property taxes

$5,207

Monthly HOA fee

$1,081.33

Price History

03/23/2025
CentralPanhandle

CentralPanhandle #770794

Listed
$594,995
-9.71%
05/31/2024
CentralPanhandle

CentralPanhandle #746805

Removed
$659,000
09/19/2023
CentralPanhandle

CentralPanhandle #746805

Listed
$659,000

Schools & Community

Neighborhood: 

Lower Grand Lagoon

Elementary school: 

Patronis

Middle school: 

Surfside

High school: 

Arnold

Community features: 

Pool, Clubhouse, Fitness Center, Tennis Court(s)

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

$389,360
Asking price
$594,995
Closing costs (~8% of asking)
-$47,600
Est. remaining loan balance
-$158,035
Cash to seller
$389,360

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

Seller’s Loan History

Lender

Renasant Bank

Loan start date

August 2021

Original loan amount

$200,000

Est. remaining balance

$158,035

Interest rate

2.2%

Loan type

New Conventional, 15 year

Seller

Stephen K Craig and Laura L Craig

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: 03/25/2025 at 11:40 AM

Listing updated: 03/23/2025 at 10:50 PM

Listed by: Ekaterina I Tomlinson, Top Producers Real Estate Ctr Phone #: (850) 234-0809

MLS: CentralPanhandle #770794

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