CURRENTLY UNDER CONTRACT, SELLER WILL CONSIDER BACKUP OFFERS..........Welcome to your dream waterfront retreat! This stunning 3,450 sq. ft. home offers 4 bedrooms, 4 bathrooms, and breathtaking views of the bay from every angle. Nestled in The Cove, enjoy a waterfront park, two pocket parks, ball field and a multi-use path. Not to mention walk, bike, or golf cart to Downtown!
Step inside to find a brand-new remodeled kitchen with high-end finishes, perfect for the home chef. The expansive family room features a stone fireplace, creating a warm and inviting atmosphere. Working from home is effortless with a dedicated office space that offers tranquility and inspiration.
Outdoor living is unmatched with over 2,000 sq. ft. of backyard decking, a pool, and a luxurious 8-seater hot tub, making it the perfect space for entertaining. Relax on your private front porch or take advantage of the double boat dock with a platform deck, boat lift, and direct access to the bay for endless days on the water. Only 15 minutes to Shell Island.
This home is also equipped with a full-house generator, ensuring comfort and security year-round. Whether you're looking for a serene escape or the ultimate entertainment destination, this property delivers it all.
Don't miss the opportunity to own this incredible waterfront home - schedule your private tour today!
Sold for $1,350,000
$1,350,000
227 S Cove Terrace Dr, Panama City, FL 32401
4beds
3,450sqft
Single Family Residence
Built in 1950
0.33 Acres Lot
$1,341,300 Zestimate®
$391/sqft
$3,289 Estimated rent
Home value
$1,341,300
$1.21M - $1.49M
$3,289/mo
Zestimate® history
Owner options
List your home for rent
$3,289/mo
Rent Zestimate®
Find your next renter with Zillow Rental Manager. Plus, with online applications, you can quickly screen prospective tenants – for free.
$3,289/mo
Rent Zestimate®
Refinance and save
$8,644/mo
Est. payment
Refinancing to a lower rate could help reduce your monthly payments and save thousands over the life of the loan.
$8,644/mo
Est. payment
Explore your selling options
Work with a Zillow partner agent
Leverage their expertise and Zillow's premium Showcase listings to get your home seen by more buyers.
Get startedList with your own agent
Get your home in front of millions of buyers by listing it on Zillow.
Learn how to do itSell it yourself
Take full control of how buyers see your home on Zillow by listing For Sale by Owner (FSBO).
List your homeWhat's special
Double boat dockStone fireplaceBrand-new remodeled kitchenDedicated office spacePrivate front porchExpansive family roomWaterfront retreat
Zillow last checked:
Listing updated:
Listed by:
The Hughes Group 904-689-6883,
Counts Real Estate Group
Bought with:
Non Member
NON-MEMBER OFFICE
Source: CPAR,MLS#: 771520
Originating MLS: Central Panhandle Association of REALTORS
Originating MLS: Central Panhandle Association of REALTORSFacts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 4
- Bathrooms: 4
- Full bathrooms: 4
Rooms
- Room types: Bedroom, Dining Room, Full Bath, Foyer, Kitchen, Laundry, Living Room, Primary Bathroom, Primary Bedroom, Office
Primary bedroom
- Level: First
- Dimensions: 15 x 16
Bedroom
- Level: Basement
- Dimensions: 16 x 12
Bedroom
- Level: Basement
- Dimensions: 12 x 13
Bedroom
- Level: Basement
- Dimensions: 24 x 11
Primary bathroom
- Description: includes laundry area
- Level: First
- Dimensions: 12 x 15
Dining room
- Level: First
- Dimensions: 13 x 17
Foyer
- Level: First
- Dimensions: 5 x 13
Other
- Level: First
- Dimensions: 8 x 5
Other
- Level: Basement
- Dimensions: 8 x 7
Other
- Level: Basement
- Dimensions: 8 x 5
Kitchen
- Level: First
- Dimensions: 26 x 13
Laundry
- Description: includes storage area
- Level: Basement
- Dimensions: 4 x 13
Living room
- Level: First
- Dimensions: 24 x 21
Office
- Level: First
- Dimensions: 12 x 13
Heating
- Central, Ductless, Electric, Fireplace(s)
Cooling
- Central Air, Ductless, Multi Units
Appliances
- Included: Washer/Dryer Stacked, Electric Oven, Gas Cooktop, Gas Water Heater, Ice Maker, Tankless Water Heater
- Laundry: Stacked
Features
- Interior Steps, Entrance Foyer
Interior area
- Total structure area: 3,450
- Total interior livable area: 3,450 sqft
Property
Parking
- Total spaces: 1
- Parking features: Garage
- Garage spaces: 1
Features
- Levels: Two
- Stories: 2
- Patio & porch: Deck
- Exterior features: Boat Lift, Boat Slip, Deck, Dock
- Has private pool: Yes
- Pool features: Gas Heat, In Ground, Private
- Fencing: Full,Fenced
- Has view: Yes
- View description: Bay, Bayou
- Has water view: Yes
- Water view: Bay,Bayou
- Waterfront features: Bayou, Seawall
- Frontage length: 90
Lot
- Size: 0.33 Acres
- Dimensions: 90 x 158
- Features: Sprinkler System, Paved
Details
- Additional structures: Boat House
- Parcel number: 21639000000
- Zoning description: Resid Single Family
- Special conditions: Listed As-Is
Construction
Type & style
- Home type: SingleFamily
- Architectural style: Traditional
- Property subtype: Single Family Residence
Materials
- Brick, Block, Wood Siding
- Foundation: Slab
- Roof: Shingle
Condition
- New construction: No
- Year built: 1950
Utilities & green energy
- Sewer: Public Sewer
- Utilities for property: Electricity Available
Community & HOA
Community
- Features: Short Term Rental Allowed
- Subdivision: Cove Terrace
HOA
- Has HOA: No
Location
- Region: Panama City
Financial & listing details
- Price per square foot: $391/sqft
- Tax assessed value: $534,955
- Annual tax amount: $5,076
- Date on market: 7/9/2025
- Cumulative days on market: 110 days
- Electric utility on property: Yes
Price history
| Date | Event | Price |
|---|---|---|
| 8/11/2025 | Sold | $1,350,000-8.5%$391/sqft |
Source:  CPAR #771520 Report a problem | ||
| 7/25/2025 | Contingent | $1,475,000$428/sqft |
Source: CPAR #771520 Report a problem | ||
| 7/9/2025 | Listed for sale | $1,475,000$428/sqft |
Source: CPAR #771520 Report a problem | ||
| 5/31/2025 | Pending sale | $1,475,000$428/sqft |
Source: CPAR #771520 Report a problem | ||
| 5/5/2025 | Price change | $1,475,000-6.3%$428/sqft |
Source: CPAR #771520 Report a problem | ||
| 4/5/2025 | Listed for sale | $1,575,000+343.7%$457/sqft |
Source: CPAR #771520 Report a problem | ||
| 6/12/2014 | Sold | $355,000$103/sqft |
Source: CPAR #620029 Report a problem | ||
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2024 | $5,076 -1.5% | $353,950 +3% |
| 2023 | $5,151 +7.6% | $343,641 +3% |
| 2022 | $4,789 | $333,632 |
| 2021 | -- | -- |
| 2020 | $4,474 +34.6% | $308,964 +25.3% |
| 2019 | $3,325 | $246,485 -20.2% |
| 2018 | $3,325 -18.3% | $308,771 +4.2% |
| 2017 | $4,071 -8.3% | $296,395 +1.9% |
| 2016 | $4,442 -3.4% | $290,808 -0.3% |
| 2015 | $4,600 | $291,710 -11.7% |
| 2014 | $4,600 | $330,194 -19.6% |
| 2013 | -- | $410,469 -1.3% |
| 2012 | -- | $415,938 -15.7% |
| 2011 | -- | $493,293 -14% |
| 2010 | -- | $573,448 +225.3% |
| 2009 | -- | $176,294 +0.1% |
| 2008 | -- | $176,118 +3% |
| 2007 | -- | $170,988 +2.5% |
| 2006 | -- | $166,818 +3% |
| 2005 | -- | $161,959 +3% |
| 2004 | -- | $157,242 +1.9% |
| 2003 | -- | $154,310 +2.4% |
| 2002 | -- | $150,693 +4.9% |
| 2001 | -- | $143,646 +2.8% |
| 2000 | -- | $139,732 |
Find assessor info on the county website
Neighborhood: 32401
Nearby homes
- $1,008,2003 bd2 ba2.3k sqft225 S Cove Terrace Dr, Panama City, FL 32401Off Market
- $1,147,4004 bd3 ba4.2k sqft229 S Cove Terrace Dr, Panama City, FL 32401Off Market
- $762,6003 bd1 ba1.6k sqft223 S Cove Terrace Dr, Panama City, FL 32401Off Market
- $1,313,9004 bd3 ba3.9k sqft231 S Cove Terrace Dr, Panama City, FL 32401Off Market
- $511,5005 bd3 ba3.3k sqft220 S Cove Terrace Dr, Panama City, FL 32401Off Market
- $509,2004 bd3 ba2.7k sqft222 S Cove Terrace Dr, Panama City, FL 32401Off Market
- $331,9003 bd2 ba1.7k sqft218 S Cove Terrace Dr, Panama City, FL 32401Off Market
- $348,2004 bd2 ba2k sqft224 S Cove Terrace Dr, Panama City, FL 32401Off Market
Nearby schools
GreatSchools rating
- 5/10Merriam Cherry Street Elementary SchoolGrades: PK-5Distance: 0.5 mi
- 2/10Jinks Middle SchoolGrades: 6-8Distance: 2.6 mi
- 4/10Bay High SchoolGrades: 9-12Distance: 2.3 mi
Schools provided by the listing agent
- Elementary: Cherry Street
- Middle: Jinks
- High: Bay
Source: CPAR. This data may not be complete. We recommend contacting the local school district to confirm school assignments for this home.
Get pre-qualified for a loan
At Zillow Home Loans, we can pre-qualify you in as little as 5 minutes with no impact to your credit score.An equal housing lender. NMLS #10287.
Sell for more on Zillow
Get a Zillow Showcase℠ listing at no additional cost and you could sell for .
$1,341,300
2% more
+$26,826
With Zillow Showcase(estimated)
$1,368,126
- Florida
- Bay County
- Panama City
- 32401
- 227 S Cove Terrace Dr
Nearby cities
Nearby neighborhoods
Nearby zip codes
Other Panama City Topics
