Sold
Last Sold Price
3 beds1,349 sqft
555 Palermo Rd, Unit 555, Panama City, FL 32405
TownhouseProperty Type
0.09 acresLot Size
1982Year Built
$156/sq ftPrice per sq ft

Description

Welcome to your next investment opportunity! This meticulously maintained 3-bedroom, 2.5-bathroom townhome is a savvy investor's dream, offering versatile rental options for both short and long-term leases. Rentals in this community are grossing between $1,700 - $2,000 a month! The property boasts solar panels that will be fully paid off at closing, providing the new owner with the advantage of significantly reduced energy costs and an eco-friendly footprint. Say goodbye to high utility bills - with...Welcome to your next investment opportunity! This meticulously maintained 3-bedroom, 2.5-bathroom townhome is a savvy investor's dream, offering versatile rental options for both short and long-term leases. Rentals in this community are grossing between $1,700 - $2,000 a month! The property boasts solar panels that will be fully paid off at closing, providing the new owner with the advantage of significantly reduced energy costs and an eco-friendly footprint. Say goodbye to high utility bills - with very low water/trash expenses at $112.96 and an electric bill of only $149.58, this home is not only energy-efficient but also budget-friendly. Plus, with no HOA fees, you'll enjoy even greater financial flexibility. As an added incentive, the seller is offering a generous $5,000 credit for new flooring, allowing you to customize and enhance the interior to your liking. The thoughtful home improvements include a master bath renovated in 2019 with freshly painted walls and cabinets, stylish wallpaper, a chair rail molding, a new mirror, and an upgraded shower head. The main bath, recently updated in 2023, features painted walls and cabinets, new wallpaper, a modern shower head, a new mirror, and improved plumbing fixtures for the tub, including new tank-to-bowl bolts on the toilet. The half bath, also renovated in 2023, showcases painted walls and cabinets, new wallpaper, a new chair rail molding, faux shrub walls for added charm, a new toilet, a new mirror, and a new door frame. The kitchen is a culinary delight with a newly installed induction stove (2022), a replaced overhead microwave (2020), and lower cabinets featuring new maple wood doors and drawers (2022). The upper cabinets and walls have been freshly painted, creating a bright and inviting space for meal preparation. Additional improvements include a painted laundry room (2019), a front of the house adorned with a freshly painted door, the removal of 5 bushes over time, and the strategic planting of 3 Vitex bushes along the driveway. The backyard has seen significant upgrades, including the removal of a dilapidated shed, the replacement of 35% of cobblestone concrete, and the installation of a new section of lattice fence and regular fence. The living room and dining room are infused with a fresh coat of paint, creating a modern and cohesive living space. Upstairs, you'll find freshly painted walls and a painted door to the AC unit. Other noteworthy improvements include a new roof in 2022, a new indoor AC unit in 2020, a new mailbox, and the installation of an access panel in the living room ceiling for easy maintenance access to the main bath pipes. Don't miss out on this prime investment opportunity with a home that combines cost-saving features, modern upgrades, and the potential for lucrative rental income. Schedule a showing today and envision the possibilities that await in this turnkey property!
  • Listed by: Joshua W Wade • Think Real Estate
Listing closed: 12/29/2023 12:00 AM • Source: CPAR, MLS#: 749462

Recent comparable sales

Median sold price

$229,900

Avg days on market

69

Sale-to-list ratio

90.7%

Panama City, FL

9 comparable properties found

$195,000 | 545 Palermo Road, Panama City, FL 32405
1/29
1

$195,000

Sold 08/20/26

3
Bedrooms
1,337
Square Feet
0.07
Acres
$196,600 | 505 Palermo Road, Panama City, FL 32405
1/26
2

$196,600

Sold 09/12/25

3
Bedrooms
1,401
Square Feet
0.08
Acres
$165,000 | 3938 Solano Road, Panama City, FL 32405
1/13
3

$165,000

Sold 02/10/26

3
Bedrooms
1,401
Square Feet
0.06
Acres
$160,000 | 3902 Solano Road, Panama City, FL 32405
1/29
4

$160,000

Sold 07/01/26

3
Bedrooms
1,401
Square Feet
0.05
Acres
$251,000 | 118 Ridgecrest Court, Panama City, FL 32405
1/37
5

$251,000

Sold 12/05/24

3
Bedrooms
1,569
Square Feet
0.1
Acres
$229,900 | 1713 Jakes Drive, Panama City, FL 32405
1/27
6

$229,900

Sold 02/10/25

3
Bedrooms
1,484
Square Feet
0.05
Acres
$230,000 | 1735 Jakes Drive, Panama City, FL 32405
1/36
7

$230,000

Sold 03/18/25

3
Bedrooms
1,459
Square Feet
0.05
Acres
$234,900 | 1707 Jakes Drive, Panama City, FL 32405
1/27
8

$234,900

Sold 12/30/24

3
Bedrooms
1,484
Square Feet
0.05
Acres
$232,900 | 1759 Jakes Drive, Panama City, FL 32405
1/28
9

$232,900

Sold 01/29/25

3
Bedrooms
1,484
Square Feet
0.05
Acres

Location

Listing Courtesy of Think Real Estate

Sold By Think Real Estate

Add your commute

Payment Calculator

$1,270 per month

30 year fixed, 6.71% Interest

Principal and Interest

$1,085

Property Taxes

$185

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

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Property Information for 555 Palermo Road, Unit 555

Property Details
  • Taxes: $2,223 / year
  • MLS Type: Residential / Attached / Attached
  • County: Bay County
  • Waterfront: No
  • Subdivision Name: St. Andrews Bay Dev. Co.
Building Information
  • Year Built: 1982
  • Lot Size: 0.09 AC / 3,920 SF
Summary
Location and General Information
  • City: Panama City
  • County Or Parish: Bay
  • Directions: Going on 390 from 23rd heading Northeast turn Left onto Venetian Way. Left onto Molina and follow to Palermo Rd. Town house on right.
  • State Region: FL
  • Postal Code: 32405
  • Latitude: 30.218879
  • Longitude: -85.669531
  • State Or Province: FL
  • MLS Area Major: 02 - Bay County - Central
  • MLS Area Minor: 0204 - Bay - Central NW
Taxes and HOA Information
  • Parcel Number: 11677-076-000
  • Association: No
  • Tax Annual Amount: $2,223.00
  • Tax Legal Description: 17 3S 14W -10.71- 90A ST AND BAY DEV CO PLAT BEG 1562.20' E OF SW COR TH N 142.09' SELY 23.94' E 3.19' S 139.89' W 27' TO POB ORB 4106 P 1968
  • Tax Year: 2022
School Information
  • Elementary School: Northside
  • High School: Mosley
  • Middle Or Junior School: Mowat
Parking
  • Garage: No
Property
Lot Information
  • Building Area Total: 1349.0
  • Lot Size Acres: 0.09
  • Lot Size Area: 0.09
  • Lot Size Dimensions: 27 x 141
  • Lot Size Units: Acres
  • Lot Size Square Feet: 3790.0
  • Living Area Source: Appraiser
  • Structure Type: Townhouse
Property and Assessments
  • Year Built: 1982
  • Human Modified: No
Green Features
  • Green Energy Efficient: Solar Panels
Utilities
  • Sewer: Public Sewer
  • Utilities: Cable Connected, Electricity Available, Water Connected
Interior and Exterior Features
Exterior Features
  • Community Features: Short Term Rental Allowed
  • Foundation Details: Slab
  • Patio And Porch Features: Porch
  • Roof: Metal
Interior Features
  • Bathrooms Full: 2
  • Bathrooms Half: 1
  • Bathrooms Total: 3
  • Bedrooms Total: 3
  • Rooms Total: 6
  • Cooling: Yes
  • Cooling: Central Air
  • Heating: Yes
  • Heating: Central, Electric
  • Laundry Features: Stacked
  • Appliances: Washer Dryer Stacked, Electric Cooktop, Electric Oven, Electric Water Heater, Ice Maker
Room Information
Room 1
  • Room Dimensions: 14 x 10
  • Room Length: 14.0
  • Room Type: Dining Room
  • Room Width: 10.0
Room 2
  • Room Dimensions: 11 x 8
  • Room Length: 11.0
  • Room Type: Kitchen
  • Room Width: 8.0
Room 3
  • Room Dimensions: 14 x 10
  • Room Length: 14.0
  • Room Level: Second
  • Room Type: Bedroom
  • Room Width: 10.0
Room 4
  • Room Dimensions: 13 x 10
  • Room Length: 13.0
  • Room Level: Second
  • Room Type: Bedroom
  • Room Width: 10.0
Room 5
  • Room Dimensions: 17 x 12
  • Room Length: 17.0
  • Room Level: Second
  • Room Type: Primary Bedroom
  • Room Width: 12.0
Room 6
  • Room Dimensions: 17 x 13
  • Room Length: 17.0
  • Room Level: First
  • Room Type: Living Room
  • Room Width: 13.0
Multi Family
Multi-Family Information
  • Units Furnished: Partially
Mobile Home
Mobile Home Information
  • Mobile Dim Units: Feet
Rental
Rental Information
  • Occupant Type: Occupied

Property History for 555 Palermo Road, Unit 555

DateEvent & SourcePriceAppreciation
Dec 29, 2023

Sold

CPAR #749462

$210,000
Nov 26, 2023

Pending

CPAR #749462

Nov 20, 2023

Listed (Active)

CPAR #749462

$200,000
DateEvent & SourcePrice
12/29/2023

Sold

CPAR #749462

$210,000
11/26/2023

Pending

CPAR #749462

11/20/2023

Listed (Active)

CPAR #749462

$200,000

For completeness, we often displays two records for one sale: the MLS record and the public record.

Schools near 555 Palermo Road, Unit 555

This home is within Bay.
Rating
School
Type
Grades
Distance
Public - PK to 5
Public - 6 to 8
Public - 9 to 12
Charter - K to 8
Rating
School
Distance
Northside Elementary School
PublicPK to 5

Mowat Middle School
Public6 to 8

A. Crawford Mosley High School
Public9 to 12

University Academy (Sabl, Inc.)
CharterK to 8

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

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Nearby home values

AddressSold priceBedsBathsSqftLot (Sqft)
This home: 555 Palermo Road, Unit 555, Panama City, FL 32405
$210,000
3
1,349
3,920
$210,000
3
3
1,349
3,790
$105,000
3
1,330
3,058
$224,500
3
1,349
3,920
3
3
1,349
3,746
$125,000
3
1,349
3,484

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of any information, descriptions or measurements (including square footage measurements and property condition), such should be independently verified through appropriate means, including, but not limited to, in person inspection and public records, and Compass International Holdings, its subsidiaries, affiliates and independently owned and operated franchisees, and their affiliated agents and associated third parties expressly disclaim any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the seller's discretion. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Think Real Estate

The data relating to real estate for sale/lease on this web site come in part from a cooperative data exchange program of the Emerald Coast Association of REALTORS, Central Panhandle Association of REALTORS, Pensacola Association of REALTORS and Capital Area Technology & REALTOR Services. The properties displayed may not be all of the properties in the MLS's database, or all of the properties listed with Brokers participating in the cooperative data exchange program. Information deemed reliable but not guaranteed. Copyright© 2026 Emerald Coast Association of REALTORS, Central Panhandle Association of REALTORS, Pensacola Association of REALTORS and Capital Area Technology & REALTOR Services. All Rights Reserved.