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331 Maine Avenue
Panama City, FL 32401

$237,500

Beds: 4
Baths: 2
Sq. Ft.: 1,152
Type: House
Listing #995011
HOT OPPORTUNITY FOR INCOME AND A BIG TAX BREAK, ALL IN ONE! Or enjoy the furnishings, appliances, decor, and accessories as an owner-occupant. EVERYTHING CONVEYS! This property, once a 4 BR 2 BA, has been converted to a 2-unit rental property, perfect for short- or mid-term rental income or a single-family main house/mother-in-law suite arrangement. This property has been rented only on Furnished Finder and by word of mouth. Income for 2025 was $28,710! Want to restore the 4/2 as one unit? No problem! Just uncover the blocked-off door between units, and you're there. WHY THIS PROPERTY IS AWESOME: --Multiple possibilities for living/renting - especially as workforce housing for travel nurses, contractors, and others --2 BR, 1 BA in front, 1 BR, 1 BA in back --Proven income of up to $1,700 for front unit, $1,600/mo for back unit - WOW! --Full kitchen in front, efficient kitchenette in back --SOLD FULLY FURNISHED! --Driveway parking for 4; boat parking is easy! --HUGE backyard on this 75' x 200' lot. Make your own nature oasis or put in a pool! --Close to Ascension Sacred Heart (Bay Medical), downtown PC, Eastern Shipbuilding, two marinas, Tyndall AFB, and Gene's Oyster Bar COME SEE THIS TODAY! OPEN FOR SHOWINGS ANY TIME!
Property Features
Location Information
County: Bay
Sub Area: 2702 Bay Central SE
MLS Area: Bay County
Latitude: 30.155175
Longitude: -85.632511
Project Name/Subdivision: WELCH ADDN
Directions: From Business 98, turn south on Maine Ave. Home is on the right.
Interior Features
Total Rooms: 6
Interior: Split Bedroom
Full Baths: 2
Cooling: Wall/Window Unit(s), Ceiling Fans
Appliances: Dryer, Microwave, Refrigerator, Stove/Oven Electric, Washer
Exterior Features
Style: Beach House
Stories: 1
Lot Features: Within 1/2 Mile to Water
Lot Size in Acres: 0.35
Lot Size in Sq. Ft.: 15,246
Dimensions: 75x200
Zoning: Resid Single Family
Condition: Construction Complete
Covered Spaces: 1.0
Has Waterfront: No
Is One Story: Yes
School
Elementary School: Cherry Street
Middle School: Jinks
High School: Bay
Additional Information
Property Type: SFR
Year Built: 1945
Status: Active
Tax Year: 2025
Tax Amount: $2,457.3


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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 EXP Realty LLC
© 2026 Emerald Coast Association of REALTORS®. All rights reserved.
Copyright 2026 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 February 11, 2026, 3:11 PM CT