Ad #8013767
MLS #1006983
$7100 per month or $85,200 per year in rental income from the
405 Massalina Dr, Panama City, FL 32401
$865,000
7Beds
6Baths
2,988Sqft
--Acres
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
0.000 Acres
2 Stories
On Beachfront
Covered, Carport
Siding: Siding CmntFbrHrdBrd
Central
Bay County
COVE THE Community
Additional Photos
Contact Information
Mike Herring
Keller Williams Realty- Emerald Coast
850-321-0917
Location
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.
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 Aug 11, 2026
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$865,000
7
Beds
6
Baths
2,988
Sqft
405 Massalina Dr, Panama City, FL 32401
By contacting this agent you agree to these Terms and Conditions.
MLS# 1006983
$7100 per month or $85,200 per year in rental income from the
$865,000
405 Massalina Dr, Panama City, FL 32401
7
Beds
6
Baths
2,988
Sqft
--
Acres
$865,000
405 Massalina Dr, Panama City, FL 32401
7 Beds
6 Baths
2,988 Sqft
-- 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.
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Property Details
HOME DETAILS
7 Beds
6 Baths
2,988 Sqft
Built in 2025
0.000 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
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Ad Statistics
Ad Number
8013767
Viewed
53 times
Listing Status
Active
Added
Jul 05, 2026
Last Refreshed
Jul 03, 2026 06:17:28 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.
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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