by Global Lifestyle Properties

See Home Value
$373,000
● House - Off Market

508 TRACEY DR

PANAMA CITY, FL 32404
bedrooms
4 Beds
bathrooms
3 Baths
square feet
2,317 Ft²
$2,134
Est. Monthly
8.54%
Cap Rate

About This Property

Panama City: Welcome to this beautifully updated and move-in ready home that offers the perfect mix of comfort, functionality, and charm. Major updates have already been taken care of for you-roof, A/C, and flooring were all replaced just three years ago. Most of the windows are new, and the sliding glass door has also been recently upgraded, filling the home with natural light while improving energy efficiency.

Upstairs, there's a full in-law suite complete with a private bedroom and full bath-ideal for guests, extended family, or a quiet work-from-home setup. The kitchen features granite countertops, 42-inch soft-close wood cabinets, and all appliances are only three years old. All of the bathrooms have been tastefully updated with granite, new fixtures, and modern toilets.

The primary suite offers plenty of space to relax, with two walk-in closets and a luxurious jetted soaking tub. You'll also enjoy the cozy wood-burning fireplace, a formal dining room for entertaining, and a sunny eat-in kitchen perfect for everyday meals.

Outside, the fully fenced yard-with both wood and vinyl fencing-offers privacy and room to enjoy the outdoors. The home also has natural gas hookups for the range, grill, dryer, and water heater, with gas heat already in use.

Conveniently located just 7 minutes from Walmart and only 20 minutes from Tyndall Air Force Base, this home makes daily errands and commuting a breeze. With so many thoughtful upgrades and a flexible layout, this one is truly move-in ready. Don't miss out-schedule your showing today!
Unit Size
2,317 Ft²
Days on Market
240 days
Land Size
0.26 acres
Price per sqft
$164
Property Type
House
Property Taxes
$268
HOA Dues
-
Year Built
1993

Payment Calculator

Cap Rate Calculator

Last updated: 11 months ago (Stellar MLS #V4941929)

Price History

Date / Event Date Event Price
Dec 5, 2025 Sold
Sold
Oct 29, 2025 In contract -
In contract
Oct 25, 2025 Price Increased $380,000
↑ $10K (2.7%)
Price Increased
Jul 31, 2025 Price Decreased $369,900
↓ $100 (0%)
Price Decreased
Apr 19, 2025 Price Decreased $370,000
↓ $10K (2.6%)
Price Decreased
Show More

Property Highlights

Garage
Air Conditioning
Fireplace

Building Info

Overview

    General

  • Year Built: 1993
  • Effective Year Built: 2018
  • Building Count: 1
  • Bedroom Count: 4
  • Bathroom Count: 3
  • Full Bathrooms: 3
  • Partial Bathrooms: 3
  • Building Condition: 0
  • Building Quality: 4
  • Construction Type: 0
  • Building Style: 0
  • Exterior Walls Type: 2
  • Interior Walls Type: 3
  • Roof Shape Type: 7
  • Roof Cover Type: 14
  • Floor Count: 150
  • Living Units: 1
  • Floor Cover: 14
  • Basement Type: 0
  • Basement Area: 0
  • Parking Type: 1
  • Garage Type: 1
  • Garage Square Area: 441
  • Parking Space Count: 0
  • Patio Type: 5
  • Porch Type: 102
  • Pool Type: 0

    Dimensions

  • Lot Size Square Feet: 11,194
  • Lot Size Depth Feet: 1,400
  • Lot Size Frontage Feet: 800
  • Total Building Area: 2,758
  • Gross Building Area: 2,758
  • Building Area: 2,317
  • Building Area Measurement: L

    Heating and Cooling

  • Fireplace Count: 1
  • Air Conditioning: 1
  • Heating: 4
  • Heated Square Feet: 2,317
  • Heating Fuel Type: 0

    Utilities

  • Sewer System: 0
  • Water Service: 0

Building

  • Building Type: 0
  • Property Class: R
  • Subdivision: COLONIAL ESTATES
  • Land Acres: 0000000257
  • Standard Land Use Code: 1001
  • County Land Use Code: 000100
  • State Land Use Code: 01
  • Legal Description 1: COLONIAL ESTATES LOT 2 132A4 ORB 4511 P 1181

Neighborhood

  • School District Name: Bay County School District
  • Census Tract: 000806

Zoning

  • Zoning: R1

Geography

  • Parcel: 06716-304-000
  • Lot: 2
  • Meridian: SEC 17 TWN 04S RNG 13W
  • Municipality: FIRE COUNTY MOSQUITO
  • Latitude: 30.1372
  • Longitude: -85.5579

    Address

  • Full Address: 508 Tracey Dr
  • Address - House Number: 508
  • Address - Street Name: Tracey
  • Address - Suffix Type: Dr
  • State: FL
  • City Name: Panama City
  • Carrier Code: C007
  • 4-Digit Zip Code: 8648
  • Zip Code: 32404

Valuation

    Tax

  • Total Area: 2,566
  • Tax Year: 2023
  • Tax Amount: $325,661
  • Tax Rate Code Area: 055

    Appraisal Valuation

  • Standard Deviation: 0.4882
  • Valuation Date: Dec 20, 2023
  • Confidence Score: 2
  • Final Value: 417,914
  • High Value: 621,962
  • Low Value: 213,865

    Market Valuation

  • Market Total Value: $300,919
  • Market Land Value: $30,654
  • Market Improvement Value: $270,265

    Assessments Valuation

  • Assessed Year: 2023
  • Assessed Total Value: $300,919
  • Assessed Land Value: $30,654
  • Assessed Improvements Value: $270,265

    Exemptions

  • Veteran Exemption: Yes
  • Homeowner Exemption: Yes

    Sales

  • Current Sale Contract Date: Dec 31, 2021
  • Current Sale Recording Date: Jan 13, 2022
  • Current Sale Price:
  • Current Sale Document Type: 71
  • Current Sale Input Document Number: 3267
Data used for valuation calculations is provided by RealtyHop, and other third party sources

Comparables

Unit
Status
Type
Beds
Baths
ft²
Price/ft²
Asking Price
Listed On
Closing Price
Sold On
HOA + Taxes

About Colonial Estates


Similar Homes for Sale

Currently no similar homes around

Nearby Rentals



Frequently Asked Questions

When was property at 508 Tracey Drive built and last sold?
The property at 508 Tracey Drive was built in 1993 and last sold on Dec 31, 2021 for $330,000.
How much is this home worth?
The estimated value of the home located at 508 Tracey Drive is $383,800.
What are some comparable homes to 508 Tracey Drive?
There are currently no comparable homes to 508 Tracey Drive.