About This Home

This 7-bedroom, 6-bathroom multi-family at 405 Massalina Drive in Panama City, FL is listed for $865,000 ($289 per sqft). Built in 2025, the home offers 2,988 sqft of living space on a 0.14 acres lot.

Key Features

  • Built in 2025
  • 0.14 acre lot
  • Waterfront

Property Details

6 full
2025

Amenities

WaterfrontA/C
Listing Description

$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. Waterfront masterpiece with deep water access to the Bay and the Gulf of Mexico.

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. New custom landscaping and 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.

Direct views of Massalina Bayou offering serene surroundings and a true coastal lifestyle. Prime location near top shopping, dining, entertainment, and local attractions. This unique combination of parcels provides endless possibilities--multigenerational living, a fully income-producing investment, or use the carriage house a primary residence and rent out the fourplex for excellent rental income. With its unmatched flexibility, new construction quality, and breathtaking bayou views, this property checks all the boxes.

Monthly Cost Estimate

$4,626/mo

20% down · 6.5% · 30 years

Principal$626
Interest$3,748
Insurance$252

Estimates only. Actual payments may vary.

Location

405 Massalina Drive

Panama City, FL 32401

Cove

Property Details

Construction

HardiplankType

Outdoor Features

Porch

Heating

Electric (Heating)Central

Cooling

Ceiling Fan(s)Central Air

Appliances

GasRangeTanklessWaterHeater

Questions & Answers

This 7-bedroom, 6-bathroom multi-family at 405 Massalina Drive is listed at $865,000 ($289/sqft). The estimated monthly payment is $4,626 based on 20% down, a 30-year loan at 6.5% interest, estimated insurance.

Key features include: Built in 2025, 0.14 acre lot, Waterfront.

This property is listed by Mike S Herring.

MH

Mike S 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

MLS# 792225· Source: Central Panhandle Association of REALTORS· 117 days on PropertySimple

Copyright © 2026 Central Panhandle 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.

405 Massalina Drive, Panama City, FL 32401

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