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1311 Capri Drive
About This Property
DEEP WATERFRONT LIVING WITH DIRECT GULF ACCESS (10 MINUTE BOAT RIDE TO WEST BAY, 10 MINUTES TO ST. ANDREWS BAY, 17 MINUTES TO SHELL ISLAND) - BRING A BIG BOAT - NEVER WORRY ABOUT WAITING FOR THE RIGHT TIDE.
Your best life awaits at 1311 Capri Drive, Panama City, FL. This expansive 4-bedroom, 2.5-bath home on a corner lot blends coastal convenience with thoughtful upgrades and flexible indoor/outdoor living.
Highlights:
Private dock with a 10,000 lb boat lift on the corner and quick access to open water ideal for fishing, cruising, and sunset outings. Canal depth 20'. Versatile floor plan: living room, den, and a bright Florida room provide multiple spaces to relax or entertain. Recently remodeled kitchen with tile backsplash, easy-clean appliances, large pantry, and exposed ceiling beams open to wide living and dining areas with hardwood flooring throughout.
Two stone fireplaces, including a striking double-sided unit between sliding glass doors that opens to the main deck.
Large first-floor laundry room and crawl space under the stairs; open-air patio at the first entry and multiple entrances off the deck for seamless indoor/outdoor flow.
Spacious back porch with a fish-cleaning station perfect for anglers and outdoor gatherings.
Second-floor layout features a second master suite with oversized his-and-hers walk-in closets and an additional closet, plus a large private deck with distant West Bay water views. Two guest bedrooms and a shared bath sit conveniently between them.
New exterior paint and well-maintained finishes throughout.
Short-term rental allowed.
Located in an established waterfront neighborhood close to beaches, marinas, shopping, and dining, this property offers true coastal living with easy access to everything the Gulf Coast has to offer. Schedule your showing to experience the lifestyle and waterway access firsthand.
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Cap Rate Calculator
What does this mean?
Based on our analysis, the cap rate of this property is 1.25%. A negative cap rate indicates that the property might not be feasible as an income-producing asset. The median cap rate for a near zip code 11238 is 4.23%.
How much can I actually make?
Actual monthly rental income may vary between $4,760 and $7,140 depending on unit-specific characteristics. You can change the amount using the slider to further explore.
How is cap rate calculated?
Cap Rate = Net Operating Income (NOI) / Property Asset Value.
When calculating the cap rate, we assume 100% occupancy. Leverage (mortgage) is not considered.
Cap Rate provided by RealtyHop and RentHop, learn more about cap rate here.
Price History
| Date / Event | Date | Event | Price |
|---|---|---|---|
| Jun 3, 2026 | Sold | ||
| Sold | |||
| Apr 21, 2026 | In contract | - | |
| In contract | |||
| Apr 20, 2026 | Relisted | $399,000 | |
| Relisted | |||
| Apr 11, 2026 | In contract | - | |
| In contract | |||
| Apr 7, 2026 | Listed by Keller Williams Realty SRB | $399,000 | |
| Listed by Keller Williams Realty SRB | |||
Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017