2911 E 5th Court, Panama City, FL 32401
No Named Subdivision · Bay County
Key Facts
Description
Prime Investment Opportunity: Seven Buildable Lots that's already CLEARED!! Unlock the potential of this amazing 30,000 sqft (0.68-acre) parcel, perfectly positioned for immediate development! The lot is a 100ft deep and has an impressive 300ft frontage, making it an ideal site for seven (7) individual 40' x 100' buildable lots. The best part is the lot is already zoned NEIGHBORHOOD RESIDENTIAL and per the city you could convert it to a minor subdivision, which doesn't take long!! Just $500 bucks to start the process and $50 per new addresses. That's a win-win situation for you!! The best part about this opportunity is the ROI, the average homes in that area sold in the past few months were about 255k. The average cost to build a 1200sqft house is 110k-130k. That leaves a lot of equity built into each home!! Now, do the math and times that by 7! Wouldn't you say that's worth it? Also, because the property has exceptional versatility, another option could be to build 3-Duplex units and cash flow or resell. ''The world is your oyster'' on this one. Don't miss your chance to secure a strategic cash flow opportunity.
Property Information
Property Type
Land
Sub-Type
Unimproved Land
Lot Size
0.69 acres
Lot Dimensions
300*100
Days on Market
236
MLS® Listing#
781653
Property Features
Utilities
Sewer
Schools
- Elementary:
- Cedar Grove
- Middle:
- Rutherford
- High:
- Rutherford
Financial Details
HOA
None
Annual Taxes
$1,097
Tax year 2024
Parcel Number
23280-000-000
Directions
To reach 2911 E 5th Court, Panama City, FL 32401, from downtown Panama City near the Bay County Courthouse, head east on E 23rd Street toward N Watterson Avenue, continue on E 23rd Street until you reach the Millville neighborhood, then turn right onto E 5th Court and continue until you arrive at the property on the right.
Affordability Calculator
$52,800
Estimated monthly payment
$1,405/mo
Principal $211,200 · Est. interest $294,643 over 30 yrs
Neighborhood Market Statistics
How this home compares to active listings in Panama City, FL
- $379,455
- Median Listing Price
- 103
- Median Days on Market
- 1,572
- Median Sq Ft
- $248
- Median Price / Sq Ft
- 6,141
- Active Listings
- This home’s price is 30% below the area median.
Market statistics compiled from active EXIT Realty® and MLS listings in Panama City, FL.
Location
Points of Interest in Panama City, FL
Showing the Panama City area map.
Nearby Schools
The Learning Factory
School · 0.2 mi away
Springfield Elementary School
Elementary · 0.4 mi away
Everitt Middle School
School · 0.4 mi away
Margaret K Lewis School
School · 0.5 mi away
Rutherford High School
Secondary · 0.8 mi away
Cedar Grove Elementary School
Elementary · 1.2 mi away
Oscar Patterson Elementary Magnet
Elementary · 1.2 mi away
C C Washington Academy
School · 1.3 mi away
Rosenwald High School
Secondary · 1.3 mi away
Rosenwald Middle School
School · 1.3 mi away
Merriam Cherry Street Elementary
Elementary · 1.6 mi away
A D Harris Headstart
School · 1.7 mi away
The Education Center of Panama City
School · 1.7 mi away
Eagle Nest Christian Academy
School · 1.8 mi away
Holy Nativity Episcopal School
School · 1.9 mi away
Parker Elementary School
Elementary · 2.0 mi away
Bay Regional Juvenile Detention Center
School · 2.1 mi away
Chautauqua Charter School
Secondary · 2.3 mi away
Bay High School
Secondary · 2.4 mi away
Jinks Middle School
Secondary · 2.9 mi away
Commute Calculator
Nearby Homes
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Similar Home Values
Comparable nearby listings and their asking prices.
| Address | Price | Beds | Baths | Sq Ft |
|---|---|---|---|---|
| 105 Allen Avenue 56, Panama City, FL | $184,900 | 1 | 1 | 924 |
| 112 Fairway Boulevard 105, Panama City Beach, FL | $184,900 | 2 | 1 | 1,200 |
| 688 NW PALM DRIVE, Lake City, FL | $184,900 | 3 | — | 1,512 |
| 2344 NANTUCKET DRIVE 59, SUN CITY CENTER, FL | $184,900 | 2 | 2 | 968 |
| 1605 LELAND DRIVE, SUN CITY CENTER, FL | $185,000 | 2 | 2 | 1,529 |
| 3214 Douglas Road, Panama City, FL | $185,000 | 3 | 2 | 1,680 |
Moving Cost Estimate
EXIT Agents in Panama City
Listing Courtesy: Salty Marlin Realty LLC - 8506152406