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New construction
    • $1,700,000

    401 & 405 Massalina Dr, Panama City, FL 32401

    10beds
    4,856sqft
    : 
    $10,364/mo
    Get pre-qualified
    Single Family Residence
    Built in 2025
    0.28 Acres Lot
    $1,635,300 Zestimate®
    $350/sqft
    $-- HOA

    What's special

    Large islandBeautiful deckingGas stoveWaterfront on massalina bayouExtra storageTankless water heaterNew custom landscaping
    ATTENTION!! 3 SEPARATE STRUCTURES, 2 SEPARATE PARCELS, 1 AWESOME PRICE!! Zoned for short term and long term rental. Waterfront on Massalina Bayou! Main House: Amazing 3-bedroom 2-bath with den/office *new construction*. Gorgeous views from covered porches on both floors. First floor has open kitchen with Forno Italian stainless appliances, large Island, gas stove, double door refrigerator w/ice maker and wine cooler. Living/dining walk out large sliding doors to covered porch, outdoor Thor stainless summer kitchen and pool/bayou views. Master bedroom and master bath with large custom shower, double vanity sink and walk in closet. Second floor open family room, den/office, large sliding doors to walk to walk out to covered porch overlooking pool/bayou. Two additional bedrooms and one bath. So much to offer with beautifully designed tile flooring throughout, tankless water heater and extra storage. 401 Massalina Drive is under a lease for 5 months with potential for 2 month extension. $3600 per month and includes utilities and pool service. 405 Massalina Drive: Carriage House plus Quadplex/Fourplex: $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. 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 or $85,200 per year. New custom landscaping and pool to relax and enjoy. 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.
    57 days
    396
    24

    Zillow last checked:

    Listing updated:

    Listed by:

    Mike S Herring 850-321-0917,

    Keller Williams Realty Emerald

    Source: CPAR,MLS#: 792227MLS LogoOriginating MLS: Central Panhandle Association of REALTORS

      Facts & features

      Interior

      Bedrooms & bathrooms
      • Bedrooms: 10
      • Bathrooms: 8
      • Full bathrooms: 8
      Rooms
      • Room types: Bedroom, Den, Family Room, Kitchen, Living Room, Primary Bedroom, SeparateApartment
      Primary bedroom
      • Description: Main House (401 Massalina)
      • Level: First
      • Dimensions: 12 x 12
      Bedroom
      • Description: Main House (401 Massalina)
      • Level: Second
      • Dimensions: 13 x 10
      Bedroom
      • Description: Main House (401 Massalina)
      • Level: Second
      • Dimensions: 13 x 10
      Bedroom
      • Description: Carriage House (405 Massalina)
      • Level: First
      • Dimensions: 10 x 10
      Bedroom
      • Description: Carriage House (405 Massalina)
      • Level: First
      • Dimensions: 10 x 10
      Den
      • Description: Main House (401 Massalina)
      • Level: Second
      • Dimensions: 7 x 10
      Family room
      • Description: Main House (401 Massalina)
      • Level: Second
      • Dimensions: 21 x 13
      Other
      • Description: Apartment (405 Massalina)
      • Level: First
      • Dimensions: 20 x 20
      Other
      • Description: Apartment
      • Level: First
      • Dimensions: 20 x 20
      Other
      • Description: Apartment
      • Level: First
      • Dimensions: 20 x 20
      Other
      • Description: Apartment
      • Level: First
      • Dimensions: 20 x 20
      Kitchen
      • Description: Carriage House (405 Massalina)
      • Level: First
      • Dimensions: 8 x 6
      Living room
      • Description: Main House (401 Massalina)
      • Level: First
      • Dimensions: 8 x 11
      Living room
      • Description: Carriage House (405 Massalina)
      • Level: First
      • Dimensions: 12 x 10
      Heating
      • Electric
      Cooling
      • Central Air, Ceiling Fan(s)
      Appliances
      • Included: Gas Range, Tankless Water Heater
      Features
      • Double Vanity, Interior Steps, Main Level Primary, Walk-In Closet(s)
      Interior area
      • Total structure area: 4,856
      • Total interior livable area: 4,856 sqft

      Property

      Features
      • Levels: Two
      • Stories: 2
      • Patio & porch: Covered, Patio
      • Has private pool: Yes
      • Pool features: Electric Heat, In Ground, Private
      • Has view: Yes
      • View description: Bayou
      • Has water view: Yes
      • Water view: Bayou
      • Waterfront features: Bayou, Seawall
      • Frontage length: 60
      Lot
      • Size: 0.28 Acres
      • Dimensions: 120 x 100
      • Features: Sprinkler System, Paved
      Details
      • Parcel number: 20456010000
      • Zoning description: Resid Single Family
      • Special conditions: Listed As-Is

      Construction

      Type & style
      • Home type: SingleFamily
      • Architectural style: Craftsman
      • Property subtype: Single Family Residence
      Materials
      • HardiPlank Type
      • Roof: Metal
      Condition
      • New construction: Yes
      • Year built: 2025

      Utilities & green energy

      • Utilities for property: Sewer Available

      Community & HOA

      Community
      • Features: Short Term Rental Allowed
      • Subdivision: Cove
      HOA
      • Has HOA: No
      Location
      • Region: Panama City

      Financial & listing details

      • Price per square foot: $350/sqft
      • Date on market: 7/5/2026
      • Cumulative days on market: 57 days

        Estimated market value

        $1,635,300

        $1.55M - $1.72M

        $2,262/mo

        Price history

        DateEventPrice
        7/5/2026Listed for sale$1,700,000-8.1%$350/sqft
        Source: CPAR #792227 Report a problem
        4/14/2026Listing removed$1,850,000$381/sqft
        Source: CPAR #781413 Report a problem
        11/8/2025Listed for sale$1,850,000$381/sqft
        Source: CPAR #781413 Report a problem

        Public tax history

        Tax history is unavailable.

        Monthly payment

        Est. payment

        Payment breakdown

        Explore the cost of this home by adjusting the details. Changes won't be saved.
        All calculations are estimates and provided by Zillow, Inc. for informational purposes only. Actual amounts may vary.
        HOA fees may include property taxes on listings classified as Co-Ops. Contact the listing agent and/or owner for fee details.
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        Climate risks

        Neighborhood: 32401

        Getting around

        57 / 100
        Somewhat Walkable
        21 / 100
        Minimal Transit
        48 / 100
        Somewhat Bikeable

        Nearby schools

        GreatSchools rating
        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.

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