Sold
Closed
8727 Thomas Drive B3
Panama City Beach FL, 32408
$427,000
$282.41 per sqft
Sold
Closed
3 Beds
3 Baths
1,512 sqft
Condos
Built in 1974
LOWEST PRICED 3 Bedroom Condo ON THE ENTIRE BEACH! You read the price right... You can really grab this 3-bedroom gulf view condo for only $429,000! Priced to sell quick at over $110,000k less than the next lowest priced comparable condo, this one won't last long at all!!!How about an 8%+ annual return on Investment? I know, I know... Anything over 5% is almost unheard of nowadays, so how can this unit generate 8%+? See the attached cash flow statement for a financial summary, but in short, a three bedroom / 3 bath condo in Sugar Beach traditionally brings in between $50k-$70k in gross rentals. At the middle point of $60k, you are bringing in over 8% ROI as you build your client base and use the unit some for your own personal vacations. Once you are well established and hit the $70k+ point, you will be enjoying over 11% ROI on a cash purchase, or 15% on a financed purchase - meaning this one is the STEAL you have been waiting for!Investment properties are not all created equal, and this condo boasts EVERYTHING needed to provide you an incredible competitive advantage in the rental market. Sugar Beach offers something that differentiates itself from everyone else in PCB... It is one of the only pet friendly Gulf front rental destinations in the entire area. Years of market data shows that pet friendly options bring a higher nightly rate, have a better vacancy rate, and are more likely to attract ''snowbirds'' during the off season.In addition to being pet friendly, Sugar Beach is a private/family friendly gated community with no elevators. The list of Gulf Front complexes where you can park directly at your door are few and far between, but Sugar Beach offers exactly that!It also offers a private gated beach access, a pool, tennis/pickleball courts, shuffleboard, a grilling area, a huge koi/turtle pond right out your back door, countless nearby restaurants/activities, over 375 feet of incredible beach access, and the list goes on!
741325
MLSⓇ ID
May 11, 2023
Listed
October 15, 2024
Updated
Map
8727 Thomas Drive B3
Panama City Beach FL, 32408
Interior Features
Total Stories
3
Bedrooms
3
Total Bathrooms
3
Full Bathrooms
3
Interior Features
Breakfast Bar
Appliances
Dryer, Dishwasher, Electric Oven, Electric Water Heater, Washer
Fireplace
No
Cooling
Yes
Cooling Description
Central Air, Ceiling Fan(s)
Heating
Yes
Heating Description
Central, Electric
Exterior/Building Features
Exterior Features
Built-in Barbecue, Balcony, Pool
Lot Features
Landscaped, Waterfront
Architectual Style
Low Rise
School Information
High School
Arnold
Elementary School
Breakfast Point
Other Property Details
Area Name
03 - Bay County - Beach
Taxes
$3,219
Tax Frequency
Annually
Days on Market
18
Association Fee
$2,179
Association Fee Frequency
Quarterly
Association Amenities
Beach Rights, Game Room, Gated, Picnic Area
Garage
No
Parking
Electric Gate, Gated, Paved, Parking Lot
View
Yes
View Description
Gulf, Pond
County
Bay
Pool
Yes
Pool Features
Fenced, In Ground, Private, Community, Pool
Listing History
Date | Event | Price |
---|---|---|
6/16/2023 | Price change | $427,000 -1% |
6/16/2023 | Sold | $427,000 |
5/28/2023 | Under contract | — |
Courtesy of Beachy Beach Real Estate, Garrett S Aune,
Listing Contact: (850) 588-8908
All information deemed reliable but not guaranteed and should be independently verified. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) nor Rachel Warrell shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless.
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