tomo logo

$1,000,000

Beds
3
Baths
3.5
sq ft
2,375

7420 Thomas Dr, Panama City, FL 32408

7420 Thomas Dr

Panama City, FL 32408

  • 34 days on market
If you're looking to own and profit on Panama City Beach, this three-story turn-key vacation home has no HOAs and a projected rental income of over $100,000 a year and is priced to sell. You and your up to 16 guests will enjoy Gulf views, a private fenced-in pool, and the convenience of being only steps from the sandy beach. Take in the Gulf views from the 3rd story 25' x 18' Balcony. Located across the street from Rick Seltzer Park, your views will never change. Enter through the front door from the front covered porch to find the open-concept first-story living room, dining, and kitchen with a fireplace, 11' ceilings, crown molding, and tile floors. The kitchen has granite countertops, an island with a breakfast bar, solid wood cabinets, stainless steel appliances, and a large walk in pantry. As you continue walking to the back of the first floor you will find a full sized laundry room, a full bathroom with granite countertops and a shower/tub combo, and a bedroom with a large walk-in closet with private access to the full sized bathroom. A side door at the foot of the stairs leads to your private walkway to the gated, fully fenced private backyard with a pool, excellent for vacationers who love to swim in a pool as well as the Gulf. As you return inside, start up to the 2nd floor, turn to your right, and you will find the master bedroom with two closets, a private balcony with Gulf views, and an ensuite with granite countertops, a soaking/jetted jacuzzi tub, and a walk-in shower with glass doors. An additional bedroom on the second floor has an owner's closet, a full-sized bathroom with granite countertops, and a shower-tub combo. Continue to the 3rd floor to find a second living room with 11' ceilings, tile floors, a wet bar with granite countertops, a half bath with granite countertops, two large sofas (one is a sleeper sofa), and a bunk bed, making this a hub of entertainment for your guest. From this room, you can access the large 25' x 18' deck with beautiful never, changing Gulf views; this deck has a weather-resistant table and chairs for those sunset dining sessions. The exterior is equipt weatherproof decking and Hardie Board siding to keep the exterior maintenance low for years to come. This property is a beautiful unit inside and out, fully furnished and turn-key. The park across the street allows access to the beach and is equipped with restrooms/showers, a lifeguard, and is accessed from the crosswalk a few feet from this beach house, so traffic will stop for you when you are ready to get to the beach and listen to the waves. Enjoy being conveniently located close to many attractions, including many restaurants, amusement parks, shopping, boating, marinas, bike rentals, St. Andrews State Park, and much more. With this reasonably priced three-story beach house investment property, you can have it all in Panama City Beach.

Details

Property type

Single Family Residence

Est. home value

$967,267

Lot size

2,962 sq ft

Price per sq ft

$422

Year built

2005

Annual property taxes

$6,160

HOA

No

Price History

11/18/2024
CentralPanhandle

CentralPanhandle #765183

Listed
$1,000,000
08/24/2024
CentralPanhandle

CentralPanhandle #743529

Removed
$999,999
08/09/2024
CentralPanhandle

CentralPanhandle #743529

Price change
$999,999

Schools & Community

Neighborhood: 

Lower Grand Lagoon

Elementary school: 

Patronis

Middle school: 

Surfside

High school: 

Arnold

Number of units in community: 

1

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

$694,619
Asking price
$1,000,000
Closing costs (~8% of asking)
-$80,000
Est. remaining loan balance
-$225,381
Cash to seller
$694,619

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

Seller’s Loan History

Lender

University Lending Group Llc

Loan start date

May 2015

Original loan amount

$283,553

Est. remaining balance

$225,381

Interest rate

3.86%

Loan type

New Conventional, 30 year

Seller

Wesley J Hart

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?

Similar Homes Nearby

CentralPanhandle
$999,900
3 bd
|
2.5 ba
|
2,426 sq ft
|
House

7222 S Lagoon Dr, Panama City, FL 32408

Price drop
CentralPanhandle
$995,000
3 bd
|
2 ba
|
1,864 sq ft
|
House

7930 S Lagoon Dr, Panama City, FL 32408

Price drop
CentralPanhandle
$975,000
3 bd
|
2 ba
|
1,716 sq ft
|
House

8234 S Lagoon Dr, Panama City, FL 32408

Status: Active

Tomo last checked: 12/22/2024 at 3:45 PM

Listing updated: 12/04/2024 at 2:40 PM

Listed by: Melany Hathcock, CENTURY 21 Ryan Realty Inc Phone #: (850) 233-7926

MLS: CentralPanhandle #765183

CentralPanhandle logo

Recently listed in Panama City