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Bay 32404
6003 Tree Farm Road
Photo of 6003 Tree Farm Road
Sold on Aug 14, 2020

4

Map

Photo of 6003 Tree Farm Road
Photo of 6003 Tree Farm Road
$162,000
● Land - Off Market

6003 Tree Farm Road

Panama City, FL 32404
bedrooms
Studio
bathrooms
0 Bath
$382,157
RealtyHop Estimate
36.97%
Since Sep 1, 2020
National-US
Primary Model

About This Property

Approx 23 acre property in the Bayou George area!   Zoning is Bay County R-2 and you have several options with this property.  Start with a clean slate and clear the property.  Or, rehab the existing home on the property that suffered some hurricane damage.  The 3BR/2BA home was built in a Frank Lloyd Wright style with lots of glass. There is also a pool on the property, a greenhouse, a pond, and tons of land to develop.  All info is approx. and must be verified by Buyers if important.
Unit Size
-
Days on Market
39 days
Land Size
22.80 acres
Price per sqft
-
Property Type
Land
Property Taxes
$103
HOA Dues
-
Year Built
1979

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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: 27 days ago ( #689306)

Price History

Date / Event Date Event Price
Aug 21, 2020 Sold
Premium
Sold
Oct 3, 2019 Listed by Scott Ingraham Real Estate $279,000
Listed by Scott Ingraham Real Estate
Aug 7, 2015 Sold
Premium
Sold

Property Highlights

Building Info

Overview

    General

  • Year Built: 1979
  • Effective Year Built: 1979
  • Building Count: 1
  • Bedroom Count: 3
  • Bathroom Count: 2
  • Full Bathrooms: 2
  • Partial Bathrooms: 2
  • Building Condition: 0
  • Building Quality: 4
  • Construction Type: 0
  • Building Style: 0
  • Exterior Walls Type: 17
  • Interior Walls Type: 3
  • Roof Shape Type: 7
  • Roof Cover Type: 5
  • Floor Count: 100
  • Living Units: 1
  • Floor Cover: 14
  • Basement Type: 0
  • Basement Area: 0
  • Garage Type: 3
  • Garage Square Area: 424
  • Parking Space Count: 0
  • Patio Type: 5
  • Porch Type: 35
  • Pool Type: 8

    Dimensions

  • Lot Size Square Feet: 995,781
  • Total Building Area: 2,250
  • Gross Building Area: 2,250
  • Building Area: 2,250
  • Building Area Measurement: L

    Heating and Cooling

  • Fireplace Count: 1
  • Air Conditioning: 1
  • Heating: 4
  • Heated Square Feet: 2,250
  • Heating Fuel Type: 0

    Utilities

  • Sewer System: 0
  • Water Service: 0

Building

  • Building Type: 0
  • Property Class: R
  • Land Acres: 0000022860
  • Standard Land Use Code: 1001
  • County Land Use Code: 000100
  • State Land Use Code: 50
  • Legal Description 1: 2 3S 13W -1- 159B COM AT INTERSECT OF N R/W TREE FARM RD & E SEC LINE TH N 1097.64 W 1461.55 S 513.47 E 282.58 S 200 E 200 S 420.92 E 797.19 TO W R/W OF TREE FARM RD TH N ALG R/W TH E ALG R/W APPROX 200 TO POB ORB 4347 P 783

Neighborhood

  • School District Name: Bay County School District
  • Census Tract: 000302

Zoning

  • Zoning: BC16

Geography

  • Assessors Map Reference: MAP 159B
  • Parcel: 05641-000-000
  • Meridian: SEC 02 TWN 03S RNG 13W
  • Municipality: CITY OF PANAMA CITY
  • Latitude: 30.2597
  • Longitude: -85.51

    Address

  • Full Address: 6003 Tree Farm Rd
  • Address - House Number: 6003
  • Address - Street Name: Tree Farm
  • Address - Suffix Type: Rd
  • State: FL
  • City Name: Panama City
  • Carrier Code: R010
  • 4-Digit Zip Code: 4030
  • Zip Code: 32404

Valuation

    Tax

  • Total Area: 2,376
  • Tax Year: 2023
  • Tax Amount: $395,935
  • Initial Tax Delinquent Year: 2021
  • Tax Rate Code Area: 055

    Appraisal Valuation

  • Standard Deviation: 0.2416
  • Valuation Date: Dec 20, 2023
  • Confidence Score: 66
  • Final Value: 364,571
  • High Value: 452,654
  • Low Value: 276,488

    Market Valuation

  • Market Total Value: $279,870
  • Market Land Value: $107,503
  • Market Improvement Value: $172,367

    Assessments Valuation

  • Assessed Year: 2023
  • Assessed Total Value: $187,966

    Sales

  • Current Sale Contract Date: Aug 13, 2020
  • Current Sale Recording Date: Aug 21, 2020
  • Current Sale Price:
    Premium
  • Current Sale Document Type: 71
  • Current Sale Input Document Number: 2020055190
  • Previous Sale Recording Date: Aug 07, 2015
  • Previous Sale Contract Date: Aug 03, 2015
  • Previous Sale Amount: $45,000
  • 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 Bay

Stats & Trends

Median Asking:

$386,338

Sale Price/ft²

$244

Below Asking

0.02%

Average Days on Market

110

Average Home Size

1520 ft²

Average Home Age

24.5 years

Currently For Sale

2921 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

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Frequently Asked Questions

When was property at 6003 Tree Farm Road built and last sold?
The property at 6003 Tree Farm Road was built in 1979 and last sold on Aug 13, 2020 for $162,000.
How much is this home worth?
The estimated value of the home located at 6003 Tree Farm Road is $281,790.
What are some comparable homes to 6003 Tree Farm Road?
There are currently no comparable homes to 6003 Tree Farm Road.
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