WANT TO BE LESS THAN A MILE TO THE NEW TOOTSIES?????? WATERCREST 406 IS WHERE ITS AT!!! Wake up to the sound of waves and step directly onto the sugar-white sands of Panama City Beach from this beautifully positioned beachfront condo. Located on a desirable low floor, this residence offers effortless access while still delivering sweeping Gulf views and the coastal lifestyle buyers seek.
The spacious floor plan is designed for comfort and functionality, featuring large bedrooms and a highly sought-after master suite positioned directly on the Gulf. Wake up each morning to panoramic water views and enjoy private balcony access from your own retreat. A separate laundry room adds everyday convenience, while the generous living and dining areas create the perfect space for entertaining family and guests.
This building has undergone extensive upgrades, giving buyers peace of mind and modern appeal. Recent improvements include fresh exterior paint, new balcony railings, resurfaced patios, and a newly refinished heated pool--perfect for year-round enjoyment. Even better, there are no current special assessments, and the property has successfully met all required milestones and reserve study standards.
Accessibility is enhanced with private elevators located on both the east and west ends of the building, servicing up to the 6th floor for added convenience and privacy.
For investors, this property presents an exceptional opportunity. Short-term rentals are allowed, with projected annual rental income ranging from $70,000 to $90,000 depending on owner usage, making it both a luxurious getaway and a strong income-producing asset.
Whether you're searching for a primary residence, vacation home, or high-performing rental property, this beachfront condo offers the perfect blend of location, lifestyle, and value on one of Florida's most iconic coastlines.
For sale
Price cut: $25K (8/4)
$575,000
6201 Thomas Dr Unit 406, Panama City Beach, FL 32408
2beds
1,379sqft
Condominium
Built in 1987
-- sqft lot
$550,800 Zestimate®
$417/sqft
$1,081/mo HOA
What's special
- 114 days
- 299
- 13
Zillow last checked:
Listing updated:
Listed by:
Sassy French 865-617-6184,
Keller Williams Success Realty
Source: CPAR,MLS#: 789656
Originating MLS: Central Panhandle Association of REALTORS
Originating MLS: Central Panhandle Association of REALTORSFacts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 2
- Bathrooms: 2
- Full bathrooms: 2
Rooms
- Room types: Bedroom, Kitchen, Primary Bedroom
Primary bedroom
- Level: First
- Dimensions: 15 x 13
Bedroom
- Level: First
- Dimensions: 15 x 13
Kitchen
- Level: First
- Dimensions: 12 x 11
Heating
- Central, Electric
Cooling
- Central Air
Appliances
- Included: Washer/Dryer Stacked, Electric Oven, Electric Water Heater
- Laundry: Stacked
Features
- Balcony, Double Vanity, Main Level Primary, Tub Shower
- Doors: Storm Door(s)
- Windows: Storm Window(s)
Interior area
- Total structure area: 1,379
- Total interior livable area: 1,379 sqft
Property
Parking
- Parking features: Additional Parking, Paved, Parking Lot
Features
- Stories: 18
- Patio & porch: Balcony
- Pool features: Fenced, Electric Heat, In Ground, Community
- Spa features: Community
- Has view: Yes
- View description: Gulf, Water
- Has water view: Yes
- Water view: Gulf,Water
- Waterfront features: Gulf, Shoreline - Sand
Lot
- Features: Paved
Details
- Additional structures: Other, Tennis Court(s)
- Parcel number: 30585236000
- Zoning description: City
- Special conditions: Listed As-Is
Construction
Type & style
- Home type: Condo
- Architectural style: High Rise
- Property subtype: Condominium
- Attached to another structure: Yes
Materials
- Stucco
Condition
- New construction: No
- Year built: 1987
Utilities & green energy
- Sewer: Public Sewer
- Utilities for property: Cable Connected, Electricity Available
Community & HOA
Community
- Features: Barbecue, Beach, Conference/Meeting Room, Fitness Center, Pool, Tennis Court(s), Waterfront, Community Pool, Short Term Rental Allowed
- Security: Building Security, Fire Sprinkler System, 24 Hour Security, Security Guard, Fire Alarm, Smoke Detector(s), Security Service
- Subdivision: Watercrest Condo
HOA
- Has HOA: Yes
- Amenities included: Spa/Hot Tub
- Services included: Association Management, Clubhouse, Cable TV, Fitness Facility, Internet, Legal/Accounting, Maintenance Grounds, Maintenance Structure, Pool(s), Security, Tennis Courts, Trash, Water
- HOA fee: $3,244 quarterly
Location
- Region: Panama City Beach
Financial & listing details
- Price per square foot: $417/sqft
- Tax assessed value: $586,856
- Annual tax amount: $5,368
- Date on market: 5/9/2026
- Cumulative days on market: 115 days
- Electric utility on property: Yes
Estimated market value
$550,800
$523,000 - $578,000
$2,512/mo
Price history
| Date | Event | Price |
|---|---|---|
| 8/4/2026 | Price change | $575,000-4.2%$417/sqft |
Source:  CPAR #789656 Report a problem | ||
| 5/15/2026 | Price change | $600,000-4%$435/sqft |
Source: CPAR #789656 Report a problem | ||
| 5/9/2026 | Listed for sale | $625,000+8.7%$453/sqft |
Source: CPAR #789656 Report a problem | ||
| 9/23/2025 | Listing removed | $575,000$417/sqft |
Source: CPAR #770794 Report a problem | ||
| 9/19/2025 | Price change | $575,000-0.8%$417/sqft |
Source: CPAR #770794 Report a problem | ||
| 8/18/2025 | Price change | $579,900-0.7%$421/sqft |
Source: CPAR #770794 Report a problem | ||
| 5/30/2025 | Price change | $584,000-1.7%$423/sqft |
Source: CPAR #770794 Report a problem | ||
| 5/5/2025 | Price change | $594,000-0.2%$431/sqft |
Source: CPAR #770794 Report a problem | ||
| 3/23/2025 | Listed for sale | $594,995-9.7%$431/sqft |
Source: CPAR #770794 Report a problem | ||
| 9/23/2024 | Listing removed | $659,000$478/sqft |
Source: CPAR #746805 Report a problem | ||
| 5/31/2024 | Listing removed | -- |
Source: CPAR #746805 Report a problem | ||
| 3/26/2024 | Listed for sale | $659,000-5.3%$478/sqft |
Source: CPAR #746805 Report a problem | ||
| 12/12/2023 | Listing removed | -- |
Source: CPAR #746805 Report a problem | ||
| 10/6/2023 | Price change | $695,900-5.3%$505/sqft |
Source: CPAR #746805 Report a problem | ||
| 9/19/2023 | Listed for sale | $735,000+188.2%$533/sqft |
Source: CPAR #746805 Report a problem | ||
| 5/20/2008 | Sold | $255,000-20.9%$185/sqft |
Source: Public Record Report a problem | ||
| 5/14/2004 | Sold | $322,500$234/sqft |
Source: Public Record Report a problem | ||
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2024 | $5,207 +1.5% | $459,638 +3% |
| 2023 | $5,131 +39.5% | $446,250 +101.1% |
| 2022 | $3,678 | $221,904 |
| 2021 | -- | -- |
| 2020 | $2,576 +7.1% | $207,480 +8.1% |
| 2019 | $2,406 | $192,010 -4.8% |
| 2018 | $2,406 -11.3% | $201,731 +10% |
| 2017 | $2,713 +5.5% | $183,392 +10% |
| 2016 | $2,571 +5.7% | $166,720 +10% |
| 2015 | $2,432 | $151,564 +10% |
| 2014 | $2,432 | $137,785 |
| 2013 | -- | $137,785 +0.9% |
| 2012 | -- | $136,521 +0.4% |
| 2011 | -- | $136,000 -25.6% |
| 2010 | -- | $182,750 -15.6% |
| 2009 | -- | $216,503 +13.1% |
| 2008 | -- | $191,362 -17% |
| 2007 | -- | $230,421 -18% |
| 2006 | -- | $281,001 |
| 2005 | -- | $281,001 +39.1% |
| 2004 | -- | $202,001 |
| 2003 | -- | $202,001 +34.8% |
| 2002 | -- | $149,840 |
| 2001 | -- | $149,840 |
| 2000 | -- | $149,840 |
Find assessor info on the county website
Monthly payment
Est. payment
Payment breakdown
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Neighborhood: Lower Grand Lagoon
Nearby schools
Schools provided by the listing agent
- Elementary: Patronis
- Middle: Surfside
- High: Arnold
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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