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Lower Grand Lagoon 32408 Treasure Island Section One
5111 Beach Drive
Photo of 5111 Beach Drive
Sold on Jan 23, 2023

38

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Photo of 5111 Beach Drive
Photo of 5111 Beach Drive
$595,000
● House - Off Market

5111 Beach Drive

Panama City Beach, FL 32408
bedrooms
4 Beds
bathrooms
2 Baths, 1 Half Bath
square feet
1,983 Ft²
$634,107
RealtyHop Estimate
5.86%
Since Feb 1, 2023
National-US
Primary Model

About This Property

This three-story, four-bedroom, two-and-a-half bath is a couple of blocks from the beach, marinas, and a dozen restaurants.  St. Andrews State Park is less than a mile away, and the one-car garage provides ample storage for golf carts, bikes, fishing, and beach gear.  Rent roll is available, and gross income was over $70,000 in 2021.  Plenty of parking, sleeps 10, private fenced back yard, grilling area, lots of porches, and lactation makes this a prime short-term rental.  Solid surface vinyl plank, recent appliances, and HVAC make this a turnkey property.  Best of all, there are no HOA fees or associations to be hassled by.
Unit Size
1,983 Ft²
Days on Market
116 days
Land Size
0.09 acres
Price per sqft
$302
Property Type
House
Property Taxes
$288
HOA Dues
-
Year Built
2005

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Cap Rate Calculator

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Cap Rate 100% Occupancy
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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.

Last updated: 29 days ago ( #732802)

Price History

Date / Event Date Event Price
Jan 25, 2023 Sold
Premium
Sold
Sep 28, 2022 Listed by Counts Real Estate Group Inc $599,000
Listed by Counts Real Estate Group Inc
Jan 4, 2020 No longer available -
No longer available
Jan 2, 2020 Sold
Premium
Sold
Nov 24, 2019 Price Decreased $315,000
↓ $23K (6.8%)
Price Decreased
Show More

Property Highlights

Garage
Air Conditioning

Building Info

Overview

    General

  • Year Built: 2005
  • Effective Year Built: 2010
  • Building Count: 1
  • Bedroom Count: 4
  • Bathroom Count: 3
  • Full Bathrooms: 2
  • Partial Bathrooms: 3
  • Building Condition: 0
  • Building Quality: 4
  • Construction Type: 17
  • Building Style: 35
  • Exterior Walls Type: 12
  • Interior Walls Type: 3
  • Roof Shape Type: 7
  • Roof Cover Type: 14
  • Floor Count: 300
  • Living Units: 1
  • Floor Cover: 13
  • Basement Type: 0
  • Basement Area: 0
  • Garage Type: 1
  • Garage Square Area: 144
  • Parking Space Count: 0
  • Patio Type: 59
  • Porch Type: 102
  • Pool Type: 0

    Dimensions

  • Lot Size Square Feet: 4,051
  • Lot Size Depth Feet: 1,100
  • Lot Size Frontage Feet: 370
  • Total Building Area: 2,127
  • Gross Building Area: 2,127
  • Building Area: 1,983
  • Building Area Measurement: L

    Heating and Cooling

  • Air Conditioning: 1
  • Heating: 4
  • Heated Square Feet: 1,983
  • Heating Fuel Type: 0

    Utilities

  • Sewer System: 0
  • Water Service: 0

Building

  • Building Type: 0
  • Property Class: R
  • Subdivision: TREASURE ISLAND
  • Land Acres: 0000000093
  • Standard Land Use Code: 1001
  • County Land Use Code: 000100
  • State Land Use Code: 01
  • Legal Description 1: TREASURE ISLAND PART OF LOT 4 BLK 13 COM AT THE NLY COR OF LOT 3 TH S47 DEG E 120.06 TH S42 DEG W 24.96 FOR POB TH CONT S42 DEG W 12.82 N47 DEG W 3.77 TH S42 DEG W 31.44 TH S47 DEG E .28 S42 DEG W 5.50 N47 DEG W 19.04 N42 DEG E 5.51 S47 DEG E .36 N42

Neighborhood

  • School District Name: Bay County School District
  • Census Tract: 002607

Zoning

  • Zoning: R3

Geography

  • Parcel: 31603-001-000
  • Block: 13
  • Lot: 4,3
  • Meridian: SEC 16 TWN 04S RNG 15W
  • Municipality: FIRE BEACH MOSQUITO
  • Latitude: 30.1418
  • Longitude: -85.7525

    Address

  • Full Address: 5111 Beach Dr
  • Address - House Number: 5111
  • Address - Street Name: Beach
  • Address - Suffix Type: Dr
  • State: FL
  • City Name: Panama City
  • Carrier Code: C011
  • 4-Digit Zip Code: 6842
  • Zip Code: 32408

Valuation

    Tax

  • Total Area: 2,116
  • Tax Year: 2023
  • Tax Amount: $427,550
  • Tax Rate Code Area: 056

    Appraisal Valuation

  • Standard Deviation: 0.2339
  • Valuation Date: Dec 20, 2023
  • Confidence Score: 67
  • Final Value: 622,103
  • High Value: 767,671
  • Low Value: 476,535

    Market Valuation

  • Market Total Value: $338,769
  • Market Land Value: $114,000
  • Market Improvement Value: $224,769

    Assessments Valuation

  • Assessed Year: 2023
  • Assessed Total Value: $338,769
  • Assessed Land Value: $114,000
  • Assessed Improvements Value: $224,769

    Sales

  • Current Sale Contract Date: Jan 23, 2023
  • Current Sale Recording Date: Jan 25, 2023
  • Current Sale Price:
    Premium
  • Current Sale Document Type: 71
  • Current Sale Input Document Number: 4367
  • Previous Sale Recording Date: Jan 02, 2020
  • Previous Sale Contract Date: Dec 30, 2019
  • Previous Sale Amount: $315,000
  • Previous Sale Document Type: 71
Data used for valuation calculations is provided by RealtyHop, and other third party sources
Request mortgage information redaction

Comparables

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

About Treasure Island Section One

Stats & Trends

Median Asking:

$649,000

Sale Price/ft²

$423

Below Asking

0.01%

Average Days on Market

140

Average Home Size

1703 ft²

Average Home Age

31 years

Currently For Sale

8 Listings
Based on RH Advisors, Inc. calculations of home data from MLS and/or public records.

Similar Homes for Sale

Currently no similar homes around

Nearby Rentals

Rentals Near You

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Frequently Asked Questions

When was property at 5111 Beach Drive built and last sold?
The property at 5111 Beach Drive was built in 2005 and last sold on Jan 23, 2023 for $595,000.
How much is this home worth?
The estimated value of the home located at 5111 Beach Drive is $645,434.
What are some comparable homes to 5111 Beach Drive?
There are currently no comparable homes to 5111 Beach Drive.
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