About This Home

This 10-bedroom, 8-bathroom single family at 401 & 405 Massalina Drive in Panama City, FL is listed for $1,658,000 ($341 per sqft). Built in 2025, the home offers 4,856 sqft of living space on a 0.14 acres lot.

Key Features

  • Built in 2025
  • 0.14 acre lot
  • 2 stories
  • 2 parking spaces
  • Waterfront

Property Details

2 stories
8 full
2 spaces
2025

Amenities

WaterfrontA/C
Listing Description

ATTENTION!! 3 SEPARATE STRUCTURES, 2 SEPARATE PARCELS, 1 AWESOME PRICE!! Zoned for short term and long term rental. Waterfront on Massalina Bayou! Main House: Amazing 3-bedroom 2-bath with den/office *new construction*. Gorgeous views from covered porches on both floors.

First floor has open kitchen with Forno Italian stainless appliances, large Island, gas stove, double door refrigerator w/ice maker and wine cooler. Living/dining walk out large sliding doors to covered porch, outdoor Thor stainless summer kitchen and pool/bayou views.

Master bedroom and master bath with large custom shower, double vanity sink and walk in closet. Second floor open family room, den/office, large sliding doors to walk to walk out to covered porch overlooking pool/bayou. Two additional bedrooms and one bath.

So much to offer with beautifully designed tile flooring throughout, tankless water heater and extra storage. 401 Massalina Drive is under a lease for 5 months with potential for 2 month extension. $3600 per month and includes utilities and pool service.

405 Massalina Drive: Carriage House plus Quadplex/Fourplex: $7100 per month or $85,200 per year in rental income from the carriage house and quadplex/fourplex. Perfect for a DSCR loan where your rental income pays for your mortgage, plus you get a dock and a place to park your boat on deep water.

This is the most versatile quadplex/fourplex plus carriage house (comes fully furnished) in Panama City. Here is the rental income breakdown: Carriage house = $1750 per month; Apartment 1 (Civil Contractor) = $1450 per month; Apartment 2 (Realtor) = $1450 per month; Apartment 3 (Property Maintenance Man) = $1,000 per month (reduced because he takes

care of the lawn and pool - you could charge $1450); Apartment 4 (Josh) = $1450 per month; Total income = $7100 per month or $85,200 per year. New custom landscaping and pool to relax and enjoy. Beautiful decking, shared dock with fish cleaning station. Location is easy to access to newly renovated downtown entertainment with shopping, dining, concerts and ongoing festivities.

Monthly Cost Estimate

$8,867/mo

20% down · 6.5% · 30 years

Principal$1,199
Interest$7,185
Insurance$484

Estimates only. Actual payments may vary.

Location

401 & 405 Massalina Drive

Panama City, FL 32401

COVE THE

Features & Amenities

Exterior Features

BalconyFenced Back YardPool - Gunite ConcrtSummer Kitchen

Property Details

Construction

Siding CmntFbrHrdBrd

Outdoor Features

PorchDeck

Parking

CoveredCarport

Heating

Central

Cooling

Central Air

Appliances

DishwasherDisposalMicrowaveRefrigeratorStove/Oven ElectricWater Heater - GasWater Heater - Tnkls

Questions & Answers

This 10-bedroom, 8-bathroom single family at 401 & 405 Massalina Drive is listed at $1,658,000 ($341/sqft). The estimated monthly payment is $8,868 based on 20% down, a 30-year loan at 6.5% interest, estimated insurance.

Key features include: Built in 2025, 0.14 acre lot, 2 stories, 2 parking spaces, Waterfront. Exterior Features: Balcony, Fenced Back Yard, Pool - Gunite Concrt.

This property is listed by Mike Herring.

MH

Mike Herring

License 3256219

Agent at Keller Williams Realty- Emerald Coast

Listed by Keller Williams Realty- Emerald Coast · Broker phone: (850) 654-2900 · View on Broker Site · Broker website

MLS# 1006980· Source: Emerald Coast Association of Realtors· 119 days on PropertySimple

Copyright © 2026 Emerald Coast Association of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

401 & 405 Massalina Drive, Panama City, FL 32401

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