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New construction
    • $865,000

    405 Massalina Dr, Panama City, FL 32401

    7beds
    2,988sqft
    : 
    $5,554/mo
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    Quadruplex, Multi Family
    Built in 2025
    -- sqft lot
    $836,600 Zestimate®
    $289/sqft
    $-- HOA

    What's special

    Beautiful deckingBreathtaking bayou viewsNew custom landscaping
    $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. Waterfront masterpiece with deep water access to the Bay and the Gulf of Mexico. 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. New custom landscaping and 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. Direct views of Massalina Bayou offering serene surroundings and a true coastal lifestyle. Prime location near top shopping, dining, entertainment, and local attractions. This unique combination of parcels provides endless possibilities--multigenerational living, a fully income-producing investment, or use the carriage house a primary residence and rent out the fourplex for excellent rental income. With its unmatched flexibility, new construction quality, and breathtaking bayou views, this property checks all the boxes.
    50 days
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    509
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    37
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    Zillow last checked:

    Listing updated:

    Listed by:

    Mike S Herring 850-321-0917,

    Keller Williams Realty Emerald

    Source: CPAR,MLS#: 792225MLS LogoOriginating MLS: Central Panhandle Association of REALTORS

      Facts & features

      Interior

      Bedrooms & bathrooms
      • Bedrooms: 7
      • Bathrooms: 6
      • Full bathrooms: 6
      Rooms
      • Room types: Bedroom, Kitchen, Living Room, SeparateApartment
      Bedroom
      • Description: Carriage House
      • Level: First
      • Dimensions: 10 x 10
      Bedroom
      • Description: Carriage House
      • Level: First
      • Dimensions: 10 x 10
      Other
      • Description: Apartment #1
      • Level: First
      • Dimensions: 20 x 20
      Other
      • Description: Apartment #2
      • Level: First
      • Dimensions: 20 x 20
      Other
      • Description: Apartment #3
      • Level: First
      • Dimensions: 20 x 20
      Other
      • Description: Apartment #4
      • Level: First
      • Dimensions: 20 x 20
      Kitchen
      • Description: Carriage House
      • Level: First
      • Dimensions: 8 x 6
      Living room
      • Description: Carriage House
      • Level: First
      • Dimensions: 12 x 10
      Heating
      • Central, Electric
      Cooling
      • Central Air, Ceiling Fan(s)
      Appliances
      • Included: Gas Range, Tankless Water Heater
      Interior area
      • Total structure area: 2,988
      • Total interior livable area: 2,988 sqft

      Property

      Features
      • Patio & porch: Covered, Porch
      • Has view: Yes
      • View description: Bayou
      • Has water view: Yes
      • Water view: Bayou
      • Waterfront features: Bayou, Seawall
      • Frontage length: 60
      Lot
      • Size: 6,098 Square Feet
      • Dimensions: 60.0 ft x 100.0 ft
      • Features: Sprinkler System, Paved
      Details
      • Parcel number: 20456000000
      • Zoning description: Resid Single Family
      • Special conditions: Listed As-Is

      Construction

      Type & style
      • Home type: MultiFamily
      • Property subtype: Quadruplex, Multi Family
      • Attached to another structure: Yes
      Materials
      • HardiPlank Type
      • Roof: Metal
      Condition
      • New construction: Yes
      • Year built: 2025

      Utilities & green energy

      • Sewer: Public Sewer
      • Utilities for property: Natural Gas 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: $289/sqft
      • Date on market: 7/5/2026
      • Cumulative days on market: 46 days

        Estimated market value

        $836,600

        $795,000 - $878,000

        $2,244/mo

        Price history

        DateEventPrice
        7/5/2026Listed for sale$865,000$289/sqft
        Source: CPAR #792225 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.
        See how much you could borrow to make a competitive offer.
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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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