Fully Furnished Subto Beach House with No HOA Walking Distance to the Beach

Bay County, Panama City Beach, FL, 32413
Sold
Listed at: January 30th, 2024
Price
$35,000
Sq. Footage
1638
Type
Single-Family
Parking
Driveway
Year build
2006
Lot size
0.15 acres
Bedrooms
3
Bathrooms
3
Half Bathrooms
0
Summary

💥Fully Furnished Subto Hybrid Beach House in Panama City Beach, FL!💥 

Low Entry - Turnkey - Off Market - Prime Location

🏖️ Perfect Short-Term Rental Opportunity with No HOA!

 

📍 Quick Property Overview:

Size: 1638 SqFt

Year Built: 2006, Renovated in 2016

Layout: 3 Bedrooms / 3 Bathrooms + Extra Bunk Room

Special Feature: No HOA, No Rental Restrictions, Currently Sleeps 7+

Status: Tenant occupied for 30 - 45 more days, vacant at close

 

🌴 Location Highlights:

Proximity to Beach: Less than 1/2 mile to beautiful beaches

Near Pier Park: Close to shopping center and vibrant beach life

Dining & Entertainment: Tons of great restaurants and family-friendly spots within a 5 min drive

Community: Golf cart friendly area for easy beach and park access

 

💸 Financial Overview:

Total Entry Fee: 35k plus Closing & TC (Entry fee is only 6% of Total Purchase Price)

Interest Rate: 4.875%

PITI: 3,279.53/month

STR Projection: 6k - 8k/month (17 - 44% Cash on Cash Return - Proforma Available)

Remaining Mortgage Balance: 473,565

Seller Finance: 108,435 (Amortization over 50 years - 5 year Balloon, Payment: 180.72/month)

Total Purchase Price: 617k

EMD: 5k

 

Additional info:

3-Story Building Fire Protection Sprinklers: If the property is rented for a period of less than 30 days, more than 3 times a year, then the city requires a fire protection sprinkler system to be installed. We received a quote from a local company at 24k, we reflected this cost in the proforma and the cash on cash return is still amazing!

 

🚀 Investor's Edge:

Vacation Rental Potential: Comes fully furnished in a prime location

Low Entry Fee: Under 10% with strong potential for HUGE cash on cash return

No Banks, Tax Returns, or Credit Checks Needed!

 

📞 Contact for More Information:

Coreyonte Turner

Phone: 402-840-7321

Email: Coturner@joehomebuyer.com

Courtesy of Joe Homebuyer Gulf Coast

WHAT TO EXPECT FROM JOE HOMEBUYER: Deal is to be sold to INVESTOR CASH BUYERS only. PROPERTY WILL BE CONVEYED WITH FREE AND CLEAR MARKETABLE TITLE UNLESS OTHERWISE AGREED. NO INSPECTION PERIODS EXCEPT WHAT IS NOTED ABOVE. BUYER MUST DO THEIR OWN DUE DILIGENCE. HOUSE IS BEING SOLD " AS-IS" WITH NO WARRANTIES OR DISCLOSURES FROM THE SELLER AND BUYER TO PAY ALL CLOSING COSTS AND TRANSFER TAXES WITH THE EXCEPTION OF ANY PRORATED PROPERTY TAXES, LIENS, AND JUDGMENTS UNLESS OTHERWISE AGREED TO IN WRITING BY BOTH PARTIES. WE EITHER OWN OR HAS AN EQUITABLE CONTRACTUAL INTEREST IN THIS PROPERTY. THIS MARKETING PIECE ONLY REFERENCES THE EQUITABLE INTEREST OR OPTION IN THE PROPERTY. All figures expressed either verbally or in marketing material is to be an estimate. There are no guarantees or assumptions. Buyer should conduct their own due diligence prior to making any offers. If property is occupied, please do not disturb the occupant. Occupant/tenant rights apply. Contact us directly for entry instructions unless otherwise stated above. WE ARE EXPLORING ALL OPTIONS WITH THIS AGREEMENT AS PART OF OUR DUE DILIGENCE WE ARE CONSIDERING SELLING OUR ASSIGNABLE CONTRACT FOR THIS PROPERTY WE MAY NOT OWN THIS HOME - WE ARE NOT REAL ESTATE AGENTS. WE DO NOT REPRESENT THE SELLER. THE INFORMATION IS PROVIDED AS A COURTESY AND NOT MEANT FOR THE PURPOSES OF MARKETING THIS HOME DISCLAIMER: Please be advised that this is an assignment of contract. A legally binding purchase agreement has been signed with the Seller, which grants exclusive rights to this company to purchase the property. We would like to clarify that we are NOT representatives of the owner and DO NOT act as brokers. DO NOT CONTACT THE OWNER/SELLER without our explicit consent. Any attempts to renegotiate or communicate with the owner will result in legal action.
Street View
Location
current deal
comparables
#2
available
$123k
sold
$99k
Bedrooms
Bathrooms
Sq. footage
Deals nearby
Available
Sold
Contact

Coreyonte Turner

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