Florida
Panama City
221 W Baldwin Road

$499,000

221 W Baldwin Road, Panama City, FL 32405

4 beds |
2 baths |
1,750 sqft

Single-Family Home
Built in 1969
0.99acre lot
5 car garage
$285/sqft
Listed 1 month ago

Property Description

Versatile Property with Income-Producing Apartment on 1 Acre in Panama CityLocated on a spacious 1-acre lot in unincorporated Bay County, this unique property offers incredible flexibility, comfort, and income potential. The main home features 4 bedrooms plus a bonus room/office, a 2-car garage with an oversized cubby ideal for a workshop, and stylish concrete and stainless steel kitchen countertops. A covered front porch provides the perfect outdoor space to relax. Key systems have been updated, including a metal roof (2019), HVAC (2019), and hot water heater (2018).A standout feature is the 800 sq ft, 1-bedroom/1-bath studio apartment located above a separate 3-car detached garage. The apartment has its own laundry area, private entrance, and separate septic system (replaced after Hurricane Michael). Currently rented for $1,500/month, it's ideal for offsetting your mortgage, hosting guests, or accommodating multigenerational living.Additional Features Include:Separate septic systems for the main house and apartment.Entire property is on well water.Metal roofs on both structures (2019).Single electric meter for both units.Front windows replaced after Hurricane Michael.Insurance is approximately $3,500/year for both structures.Located in unincorporated Panama City--offering more flexibility and fewer restrictions.This is a rare opportunity to own a property that blends income potential, peace of mind, and functionality in a desirable, low-restriction area just outside the city limits. Perfect for those seeking space, versatility, and value!

Listing Status:: Active
Date Added:: June 17, 2025 at 05:00AM
Listing Office:: Think Real Estate : (850) 270-4200
MLS ID:: 775153

General: Kitchen Island
Appliances: Electric CooktopElectric Water HeaterRefrigerator
Heating: Central

This listing courtesy of Think Real Estate

Monthly Payment

$Est. Payment

Principal & Interest $
Property Taxes $
Home Insurance $
VA Funding Fee $

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Location

Schools Nearby

Northside Elementary School

2001 Northside Dr, Panama City, FL, 32405

Grades PK-5

1.53 miles away

New Horizons Learning Center

3200 Minnesota Ave, Panama City, FL, 32405

Grades 6-12

1.13 miles away

New Horizons Learning Center

3200 Minnesota Ave, Panama City, FL, 32405

Grades 6-12

1.13 miles away

Disclaimer: School and School District information courtesy of the National Center for Education Statistics (NCES). School boundaries may change. Proximity to listed schools does not guarantee enrollment eligibility. Contact the school district for more information and exact boundaries.