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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