$495,000

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221 W Baldwin Road Panama City, FL, United States 32405

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!

Amenities

  • Bedrooms: 4
  • Full Bathrooms: 2
  • Partial Bathrooms: 0
  • Property Type: Residential
  • Architectural Style: Ranch
  • Year Built: 1969
  • Built in 1969
  • Home size: 1,750 ft2 / 162.58 m2
  • MLS: 775153
  • Status: Active
Copyright © 2025 Central Panhandle Association of REALTORS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

Property brokered by

Think Real Estate

(850) 270-4200

Get more listing details on brokerage site

Presented by Matt Wright

  • (850) 270-4200 (Office Phone)

Contact Matt Wright

Contact Agent

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