401 Massalina Drive, Panama City

$793,000

3 Beds
2 Baths
1,776 Sqft
0 Acre
0 Garage

Waterfront masterpiece with deep water access to the Bay and the Gulf of Mexico. This property is the most versatile home in Panama City with virtually unlimited uses. Perfect for a primary residence or second home. Also, the potential for massive short term rental opportunity exists. Sold fully furnished with all new furnishings. 401 Massalina Drive is under a lease for 5 months with potential for 2 month extension. $3600 per month and includes utilities and pool service. Built in 2025, this 3-bedroom 2-bathroom with den/office offers gorgeous views from covered porches on both floors. First floor has open kitchen with Forno Italian stainless appliances, large Island, gas stove, double door refrigerator with ice maker and wine cooler. The living / dining walks out large sliding doors to covered porch, outdoor Thor stainless summer kitchen and pool/bayou views. Master bedroom and master bath with large custom shower, double vanity sink and walk in closet. Second floor open family room, den/office, large sliding doors to walk to walk out to covered porch overlooking pool/bayou. Two additional bedrooms and one bath. So much to offer with beautifully designed tile flooring throughout, tankless water heater and extra storage. New custom landscaping and pool to relax and enjoy. 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.

Essential Information
MLS® #1006985
Price$793,000
Bedrooms3
Bathrooms2.00
Full Baths2
Square Footage1,776
Year Built2025
TypeResidential
Sub-TypeDetached Single Family
StyleCraftsman
StatusActive
Community Information
Address401 Massalina Drive
Area27 - Bay County
SubdivisionCOVE THE
CityPanama City
CountyBay
StateFL
Zip Code32401
Amenities
ParkingAttached Carport, Covered
ViewBay, Bayou
Is WaterfrontYes
WaterfrontBayou
Utilities

Electric, Public Sewer, Public Water, TV Cable

Interior
HeatingCentral
CoolingCentral Air
# of Stories2
Appliances

Dishwasher, Disposal, Microwave, Refrigerator, Gas Water Heater, Tankless Water Heater

Exterior
WindowsWindow Treatments
ConstructionSiding CmntFbrHrdBrd
Exterior Features

Balcony, Private Yard, Outdoor Kitchen

Lot Description

Bulkhead/Seawall, Corner Lot, Within 1/2 Mile to Water

School Information
ElementaryCherry Street
MiddleJinks
HighBay
Zoning

Resid Multi-Family, Resid Single Family

Listing Details
OfficeKeller Williams Realty SRB
Property History
Price Reduced from $835,000 to $793,000
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Listing information last updated on October 15th, 2026 at 11:22am CDT.