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Ad #8013767
MLS #1006983
Listing photo

$7100 per month or $85,200 per year in rental income from the

405 Massalina Dr, Panama City, Florida, 32401
$865,000
7Beds
6Baths
2,988Sqft
0Acres

About this property

$7100 per month or $85,200 per year in rental income from the carriage house and quadplex/fourplex. Perfect for a DSCR loan where your rental income pays for your mortgage, plus you get a dock and a place to park your boat on deep water. Waterfront masterpiece with deep water access to the Bay and the Gulf of Mexico. This is the most versatile quadplex/fourplex plus carriage house (comes fully furnished) in Panama City. Here is the rental income breakdown: Carriage house = $1750 per month; Apartment 1 (Civil Contractor) = $1450 per month; Apartment 2 (Realtor) = $1450 per month; Apartment 3 (Property Maintenance Man) = $1,000 per month (reduced because he takes care of the lawn and pool - you could charge $1450); Apartment 4 (Josh) = $1450 per month Total income = $7100 per month. New custom landscaping and beautiful decking, shared dock with fish cleaning station. Location is easy to access to newly renovated downtown entertainment with shopping, dining, concerts and ongoing festivities. Direct views of Massalina Bayou offering serene surroundings and a true coastal lifestyle. Prime location near top shopping, dining, entertainment, and local attractions. This unique combination of parcels provides endless possibilities--multigenerational living, a fully income-producing investment, or use the carriage house a primary residence and rent out the fourplex for excellent rental income. With its unmatched flexibility, new construction quality, and breathtaking bayou views, this property checks all the boxes.

Property Features

7 Beds
6 Baths
2,988 Sqft
Built in 2025
0 Acres
2 Stories
On Beachfront
Covered, Carport
Siding: Siding CmntFbrHrdBrd
Central
Bay County
COVE THE Community

Additional Photos

Additional listing photo 1
Additional listing photo 2
Additional listing photo 3
Additional listing photo 4

Contact Information

Mike Herring

Keller Williams Realty- Emerald Coast

850-321-0917

Location

Map
Listing Agent: Mike Herring (License #: 3256219) 850-321-0917
Broker: Keller Williams Realty- Emerald Coast 850-654-2900 Listing Site
Copyright © 2026 Emerald Coast Association of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
BeachHouse.com
Printed Jul 22, 2026

Photo Gallery

$7100 per month or $85,200 per year in rental income from the - photo 1
$7100 per month or $85,200 per year in rental income from the - photo 2
$7100 per month or $85,200 per year in rental income from the - photo 3
$7100 per month or $85,200 per year in rental income from the - photo 4
$7100 per month or $85,200 per year in rental income from the - photo 5
$7100 per month or $85,200 per year in rental income from the - photo 6
$7100 per month or $85,200 per year in rental income from the - photo 7
$7100 per month or $85,200 per year in rental income from the - photo 8
$7100 per month or $85,200 per year in rental income from the - photo 9
$7100 per month or $85,200 per year in rental income from the - photo 10
$7100 per month or $85,200 per year in rental income from the - photo 11
$7100 per month or $85,200 per year in rental income from the - photo 12
$7100 per month or $85,200 per year in rental income from the - photo 13
$7100 per month or $85,200 per year in rental income from the - photo 14
$7100 per month or $85,200 per year in rental income from the - photo 15
$7100 per month or $85,200 per year in rental income from the - photo 16
$7100 per month or $85,200 per year in rental income from the - photo 17
$7100 per month or $85,200 per year in rental income from the - photo 18
$7100 per month or $85,200 per year in rental income from the - photo 19
$7100 per month or $85,200 per year in rental income from the - photo 20
$7100 per month or $85,200 per year in rental income from the - photo 21
$7100 per month or $85,200 per year in rental income from the - photo 22
$7100 per month or $85,200 per year in rental income from the - photo 23
$7100 per month or $85,200 per year in rental income from the - photo 24
$7100 per month or $85,200 per year in rental income from the - photo 25
$7100 per month or $85,200 per year in rental income from the - photo 26
$7100 per month or $85,200 per year in rental income from the - photo 27
$7100 per month or $85,200 per year in rental income from the - photo 28
$7100 per month or $85,200 per year in rental income from the - photo 29
$7100 per month or $85,200 per year in rental income from the - photo 30
$7100 per month or $85,200 per year in rental income from the - photo 31

$865,000

7
Beds
6
Baths
2,988
Sqft

405 Massalina Dr, Panama City, Florida, 32401

By contacting this agent you agree to these Terms and Conditions.
Home Florida Panama City
$7100 per month or $85,200 per year in rental income from the - photo 1
$7100 per month or $85,200 per year in rental income from the - photo 2
$7100 per month or $85,200 per year in rental income from the - photo 3
$7100 per month or $85,200 per year in rental income from the - photo 4
$7100 per month or $85,200 per year in rental income from the - photo 5
MLS# 1006983
Home For Sale

$7100 per month or $85,200 per year in rental income from the

$865,000

405 Massalina Dr, Panama City, Florida, 32401

7
Beds
6
Baths
2,988
Sqft
0
Acres
$865,000
405 Massalina Dr, Panama City, Florida, 32401
7 Beds
6 Baths
2,988 Sqft
0 Acres
$7100 per month or $85,200 per year in rental income from the carriage house and quadplex/fourplex. Perfect for a DSCR loan where your rental income pays for your mortgage, plus you get a dock and a place to park your boat on deep water. Waterfront masterpiece with deep water access to the Bay and the Gulf of Mexico. This is the most versatile quadplex/fourplex plus carriage house (comes fully furnished) in Panama City. Here is the rental income breakdown: Carriage house = $1750 per month; Apartment 1 (Civil Contractor) = $1450 per month; Apartment 2 (Realtor) = $1450 per month; Apartment 3 (Property Maintenance Man) = $1,000 per month (reduced because he takes care of the lawn and pool - you could charge $1450); Apartment 4 (Josh) = $1450 per month Total income = $7100 per month. New custom landscaping and beautiful decking, shared dock with fish cleaning station. Location is easy to access to newly renovated downtown entertainment with shopping, dining, concerts and ongoing festivities. Direct views of Massalina Bayou offering serene surroundings and a true coastal lifestyle. Prime location near top shopping, dining, entertainment, and local attractions. This unique combination of parcels provides endless possibilities--multigenerational living, a fully income-producing investment, or use the carriage house a primary residence and rent out the fourplex for excellent rental income. With its unmatched flexibility, new construction quality, and breathtaking bayou views, this property checks all the boxes.
16 days
on BeachHouse.com
35
views
0
saves

Property Details

HOME DETAILS

7 Beds
6 Baths
2,988 Sqft
Built in 2025
0 Acres
2 Stories

BEACH & VIEW

On Beachfront

EXTERIOR

Covered, Carport
Siding: Siding CmntFbrHrdBrd

INTERIOR

Central

FINANCIAL & COMMUNITY

Bay County
COVE THE Community
See More Details

Location

Map
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Ad Statistics

Ad Number
8013767
Viewed
35 times
Listing Status
Active
Added
Jul 05, 2026
Last Refresh
Jul 21, 2026 08:02:26 PM

Listing Information

Data Source
Emerald Coast Association of Realtors
Source Property ID
1006983
Listing Agent: Mike Herring (License #: 3256219) 850-321-0917
Broker: Keller Williams Realty- Emerald Coast 850-654-2900 Listing Site
Copyright © 2026 Emerald Coast Association of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

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$989,000

6 Beds | 4.0 Baths | 4,182 Sqft

147 Lake Merial Shores Dr, Panama City, FL, 32409

OPEN HOUSE THIS SUNDAY 7/19 (1:30 p.m. - 3:30 p.m.) Call Listing

Added: 06/27/2026 • Updated: 07/14/2026
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This consent applies even if you are on a corporate, state or national Do Not Call list. Dream Home Network Inc. may share information about your recent and future site activity with its affiliates and service providers (including real estate professionals such as Brokers, Listing Agents, Buyers Agents, and local referral partners) to help them better understand what I am looking for in a property. To opt-out at any time you can reply "STOP" or contact Dream Home Network Inc. at  csv@dreamhomenetwork.com.
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Alabama Alaska California Colorado Connecticut Delaware Florida Georgia Hawaii Louisiana Maine Maryland Mississippi New Hampshire New Jersey New York North Carolina Oregon Pennsylvania Rhode Island South Carolina Texas Virginia Washington
SERVICES
Buy Buy Advertise
COMPANY
Testimonials About Us Office Locations
SUPPORT
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ADDITIONAL MARKETS
LakeHouse.com MountainHomes.com GolfHomes.com BarrierFreeHome.com
SUBSCRIBE
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X Facebook Instagram YouTube

Dream Home Network Inc.

is committed to ensuring digital accessibility and property listings for individuals with disabilities. All information provided is deemed reliable but is not guaranteed and should be independently verified. We are continuously working to improve the accessibility of our web experience for everyone, and we welcome feedback and accommodation requests. If you wish to report an issue or seek an accommodation, please let us know.

Dream Home Network Inc. Sells leads to DHN Realty Inc. who holds real estate brokerage licenses in Alabama. Listing agents will be sent notification copy of leads on their listings where Dream Home Network Inc. is provided listings via our Feed Provider as required.

© 1997 - 2026 BeachHouse.com
Part of Dream Home Network, Inc.
Last updated on 2026.07.22
Terms & Policy