336 Watson Bayou Circle
About This Property
This remarkable home exudes beauty and delivers the best of indoor-outdoor lifestyle with a pool and spa, light-filled floor plan with high ceilings, designer finishes, and a backyard oasis you'll never want to leave.
Step inside and you're greeted by a gorgeous dining room, elegant hardwood floors, soaring ceilings, and an open layout with just enough separation, perfect for entertaining! The great room flows seamlessly into the kitchen where you'll find a beautiful Quartz island, plenty of seating, custom cabinetry, double ovens, a gas range, large walk-in pantry and breakfast area. The living area is showstopping with coffered ceilings, enhanced lighting for any event, arched entryways, arched built-ins and a wet bar with wine cooler that is sure to impress.
A full glass sliding, stacking door opens the great room to the nearly 600 square feet screened porch that extends from the primary suite to the kitchen! You are going to love the indoor-outdoor lifestyle this home in the Cove provides.
Slide open the doors and jump into the Cove lifestyle with your own private heated saltwater pool and spa! Lush landscaping with a fully fenced yard surrounds the pool and an area perfect for gardening or additional area for the kids to play is just off the end of the driveway connected to the oversized, attached 2-car garage. An additional covered patio is located on the front of the home, just off the dining room, perfect for that alfresco dining we love in Florida year-round!
Whether it's morning coffee, Saturday swim parties, or festive poolside nights, this outdoor living space delivers the lifestyle the Cove is known for.
The split floor plan offers a main level primary suite with French doors to the pool and screened porch, two custom walk-in closets, and a spa-inspired en-suite featuring large double vanities, glass walk-in shower, and a freestanding soaking tub flooded with natural light. A second bedroom and beautiful bath are also conveniently located off the kitchen on the main level, while upstairs offers two additional generously sized bedrooms with a full bath, perfect for guests or family!
Practicality meets luxury with an oversized two-car garage, perfect for this golf cart-friendly community and being able to access booming Downtown Panama City easily!
Featured highlights of this home include full pavered driveway, mature landscaping, Wi-Fi-enabled pool controls, security cameras, surround sound, automated sprinklers, and a spacious mud room/utility room with deep sink, ample counterspace and extra cabinetry. The lifestyle in the Cove is truly unmatched. Enjoy a quick walk or bike ride to many of the waterfront parks in the Cove, sunsets at Beach Drive, or golf cart to Downtown where you'll find restaurants, boutiques, farmers markets and weekly community events! The St. Andrews Bay Yacht Club is within a few miles and a public boat ramp and boat storage is just around the corner. This is more than a home. It's a home in one of Panama City's most beloved neighborhoods, the Cove...where charm and comfort meet Florida's coastal lifestyle.
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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 |
|---|---|---|---|
| Mar 30, 2026 | Sold | ||
| Sold | |||
| Jan 12, 2026 | In contract | - | |
| In contract | |||
| Jan 2, 2026 | Price Decreased |
$859,000
↓ $28K
(3.2%) | |
| Price Decreased | |||
| Dec 10, 2025 | Listed by Corcoran Reverie SRB | $887,000 | |
| Listed by Corcoran Reverie SRB | |||
| Jun 18, 2023 | No longer available | - | |
| No longer available | |||
Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017