Sold

Closed

8727 Thomas Drive B1

Panama City Beach FL, 32408

$499,000


$330.03 per sqft

Sold

Closed

3 Beds

3 Baths

1,512 sqft

Condos

Built in 1974

LOWEST PRICED 3 Bed / 3 Bath condo on the ENTIRE BEACH!!! You heard that right, on the ENTIRE BEACH! And this one... it generates a significant return on investment each year based on actual rentals - NOT projections!It's time for a little needed honesty... The condo market has really slowed down a TON these past several months. Inventory is higher than it has been in several years, and to be perfectly transparent, most condos on the beach LOOSE MONEY every month!It is becoming harder and harder to find a condo that is truly a solid investment, and finding one that generates a positive return on investment can seem like finding a needle in a haystack.Having laid out the reality of the current condo market, this unit is truly the EXCEPTION to the NORM!Have you tried finding a Gulf View condo that generates a 10%+ Return on Investment (ROI) in today's market? If you did, was it based on ACTUAL rentals and NOT overinflated projections? Although finding such an opportunity might not seem possible with 7% interest rates, this incredible rental machine does EXACTLY that, and has the history to prove it!And did I mention... it is amongst the lowest quarterly HOA dues of ALL available comps?!?Experienced investors are trained to ''love'' the number and simply ''like'' the property, but why not have both? With actual rentals of nearly $80k in 2022, and with over $57k in bookings YTD, the numbers clearly speak to this incredible opportunity.

743261

MLS ID

June 26, 2023

Listed

October 24, 2024

Updated

Map

8727 Thomas Drive B1
Panama City Beach FL, 32408

Interior Features

Total Stories

3


Bedrooms

3


Total Bathrooms

3


Full Bathrooms

3


Interior Features

Remodeled, Smart Thermostat


Appliances

Dryer, Dishwasher, Electric Oven, Electric Range, Electric Water Heater, Freezer, Disposal, Microwave, Refrigerator, Range Hood, Washer


Laundry Description

Washer Hookup, Dryer Hookup


Fireplace

No


Cooling

Yes


Cooling Description

Central Air, Ceiling Fan(s), Electric


Heating

Yes


Heating Description

Central, Electric

Exterior/Building Features

Exterior Features

Built-in Barbecue, Balcony, Outdoor Shower, 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

110


Association Fee

$2,179


Association Fee Frequency

Quarterly


Association Amenities

Beach Rights, Game Room, Gated, Picnic Area


Garage

No


Parking

Electric Gate, Garage, Garage Door Opener, Gated, Open, Paved, Parking Lot


View

Yes


View Description

Gulf, Pond


County

Bay


Pool

Yes


Pool Features

Fenced, Gunite, In Ground, Private, Community, Pool

Listing History

Date

Event

Price

1/31/2024

Sold

$499,000

10/15/2023

Under contract

10/4/2023

Price change

$499,000

-9%

10/3/2023

Price change

$543,900

-1%

9/22/2023

Price change

$548,900

-1%

9/22/2023

Active

8/12/2023

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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