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215 N MacArthur Avenue
Panama City, FL 32401

$449,000

Beds: 7
Baths: 4
Sq. Ft.: 3,184
Type: House
Listing #988363
This property will sell quickly because of the tremendous investment income. Downstairs 1 bedroom / 1 bathroom apartment can be rented for $1000 per month. The upstairs 2 bedroom / 1 bathroom apartment can be rented for $1850 per month. $2850 per month in potential rental income - enough to cover your mortgage - so you get to live in the main home which boasts 4 bedrooms / 2 bathrooms and a generous 1756 square feet and rent the 2 apartments. The entire property is a whopping 3184 square feet on a 1/3 acre. There is a pool in the backyard that serves as an anchor for both the main home and two apartments. Tenants will pay extra for this type of amenity. Or, utilize both or one of the apartments for a mother-in-law quarters. Located in the historic Cove neighborhood, close to all major roads, 23rd Street, 15th Street, Highway 77. Located very close the Ascension Sacred Heart, so perfect for a doctor that wants the additional income. Also, right in the middle of town where you can get to Tyndall Air Force Base to the east, the Navy Base to the west, and close enough to Panama City Beach for a day trip. This home old Florida charm with original hardwood floors in the main living area, large front porch, and a newer metal roof. The kitchen has been completely updated and features all stainless appliances, and a Rinnai tankless hot water system PLUS it comes with a large detached two car garage. Gas water heater and gas heat in the upstairs apartment. Downstairs apartment has a window unit for heat and air. The entire property is on city water and sewer. Come find out why so many people are flocking to the Cove - make this home your own, it will not last long.
Property Features
Location Information
County: Bay
Sub Area: 2703 Bay Central SW
MLS Area: Bay County
Latitude: 30.148658
Longitude: -85.649646
Project Name/Subdivision: Cove
Directions: Travel eastbound on East 6th Street. Turn right onto North Macarthur Avenue. 215 North Macarthur Avenue is on the right.
Interior Features
Total Rooms: 9
Full Baths: 4
Cooling: Central Air
Appliances: Cooktop, Microwave, Stove/Oven Electric, Water Heater - Gas, Water Heater - Tnkls
Exterior Features
Style: Contemporary
Stories: 2
Parking Description: Carport Attached
Garage Spaces: 2
Has a Pool: Yes
Pool Description: Community
Lot Size in Acres: 0
Lot Size in Sq. Ft.: 0
Dimensions: 105x140
Zoning: Resid Single Family
Condition: Construction Complete
Carport Spaces: 2.0
Has Waterfront: No
Is One Story: No
School
Elementary School: Cherry Street
Middle School: Jinks
High School: Bay
Additional Information
Property Type: SFR
Year Built: 1945
Status: Active


$ per month
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Monthly Tax: $
Monthly Insurance: $
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List Price:
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Based on a fully amortized fixed rate loan. Ask your agent for the tax rates in your area. Insurance estimate is based on an average cost, your final premium cost will be determined by the type of coverage you select. This program only provides an estimate.
Listing Courtesy of Keller Williams Realty SRB
© 2025 Emerald Coast Association of REALTORS®. All rights reserved.
Copyright 2025 Emerald Coast Association of REALTORS®. All rights reserved.
IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is Deemed Reliable, but is Not Guaranteed Accurate by the Emerald Coast Association of REALTORS® MLS. (iHomefinder, Inc Member Number 28165)
ECAR MLS data last updated at October 29, 2025, 7:23 PM CT