tomo logo

$440,000

Beds
2
Baths
2.0
sq ft
985

8743 Thomas Dr Unit 201, Panama City, FL 32408

8743 Thomas Dr Unit 201

Panama City, FL 32408

  • 153 days on market
    • Price drop $10,000↓
Stunning Gulf-View Corner Unit: $46K (2022), $54K (2023), $54K YTD (2024) in Rental Income and already over $21k booked for 2025! Unit 201 at The Summit Beach Resort is a proven investment opportunity and an inviting coastal retreat. This stunning 2-bedroom, 2-bathroom corner condo is located on the 2nd floor, offering easy access with no need for elevators. Spanning 985 sq. ft., the west-facing unit boasts breathtaking Gulf sunsets from a private balcony and comes fully furnished in a chic coastal style, comfortably sleeping seven guests. The primary suite features a king bed and an upgraded en suite bathroom with a walk-in shower, while the second bedroom includes a twin and full-size bed with convenient guest bath access. Enjoy a cozy living area with a queen sleeper sofa, a fully equipped kitchen with stainless steel appliances, and outdoor seating on the balcony to soak in the views.The Summit Beach Resort offers exceptional amenities, including two heated pools, hot tubs, a Tiki bar, and direct beach access. Located next to the soon-to-open Tootsies, you'll have incredible entertainment right at your doorstep, along with convenient proximity to popular restaurants like Hammerhead Fred's and Longboards, family-friendly attractions such as WonderWorks and Shipwreck Island, and outdoor adventures at Saint Andrew's State Park. Unit 201 combines comfort, convenience, and proven rental success with even more exciting nearby developments to come!

Details

Property type

Condominium

Est. home value

$431,090

Lot size

Unknown

Price per sq ft

$447

Year built

1984

Annual property taxes

$4,623

Monthly HOA fee

$767.67

Price History

03/05/2025
CentralPanhandle

CentralPanhandle #764398

Listed
$440,000
02/21/2025
CentralPanhandle

CentralPanhandle #764398

Pending
$440,000
01/31/2025
CentralPanhandle

CentralPanhandle #764398

Price change
$440,000
-2.22%

Schools & Community

Elementary school: 

Breakfast Point

Middle school: 

Breakfast Point

High school: 

Arnold

Community features: 

Clubhouse, Fitness Center, Gated, 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

$113,331
Asking price
$440,000
Closing costs (~8% of asking)
-$35,200
Est. remaining loan balance
-$291,469
Cash to seller
$113,331

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

April 2022

Original loan amount

$346,766

Est. remaining balance

$291,469

Interest rate

3.14%

Loan type

New Conventional, 15 year

Seller

David Edward Bain Jr and Tashia Bain

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: 04/01/2025 at 6:15 AM

Listing updated: 03/05/2025 at 2:53 PM

Listed by: Tyler S Smith, Beach Haven Realty Phone #: (770) 596-6599

MLS: CentralPanhandle #764398

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