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Harrison Lilly

Owner/Operator | Harrison Lilly Emerald Coast | Harrison Lilly Realty | PLACE

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209 Oleander Dr , Panama City Beach, FL 32413
$1,225,000
Est. Payment: $6,212.97/mo
4 Bed
4 Bath
2798 Sqft
Status: active | Days on site: 173
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VCR-C15903466 - VCR-C159091383,VCR-C159052275

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Harrison Lilly
Owner/Operator

House Description

OPPORTUNITY ABOUNDS ON THIS LAGUNA BEACH PROPERTY! Welcome to 209 Oleander Drive, ideally located in the heart of Panama City Beach on a spacious L-shaped lot, just steps from the sugar-white sands and emerald waters of the Gulf (less than 600 steps to the beach!). This versatile property is perfect as a primary residence, second home, or income producing long or short-term rental with two separate living spaces. The main house, currently owner-occupied and remodeled in 2017, features bright living spaces and a functional, open flow that is welcoming for both owners and guests. Step outside to enjoy a private outdoor area perfect for relaxing after a day at the beach or entertaining visitors. A standout feature is the 30x30 insulated workshop, offering endless possibilities. With plumbing already in place, it could easily be converted into an additional rental unit, used for a home business, or serve as storage for vehicles or a collection. The property also includes a carriage house (ADU) built in 2023, complete with a two-car garage. Over the past two years, this unit has generated $20,000 annually in short-term rental income, making it an excellent opportunity for buyers seeking immediate investment potential. The two-car garage with separate entrance also offers the option to be converted into additional rental space. Both homes include a full appliance package, tankless water heaters, walk-in showers, and smoke detectors. The property is connected to city water and sewer (no septic), with one shared water/sewer bill and two separate electric meters. Refer to upgrade list in document section. Whether you're looking for a personal beach retreat, an income-producing property, or a combination of both, this unique opportunity offers flexibility, expansion potential, ample storage, and an unbeatable location. Schedule your showing today and discover the possibilities of beach living and investment in Panama City Beach!

Highlights

Listed by Karen K Smith , 850-233-4351 Beachy Beach Real Estate , 850-233-4351. Emerald Coast Multiple Listing Services

Property Type

Residential

Lot/Acreage
0.22

Year Built

1964

County

Bay

Area

27 - Bay County

Neighborhood

Laguna Beach Estates 7Th Addn

Listing ID

996241

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Interior Features

Bedrooms and Bathrooms
  • Bedrooms:4
  • Bathrooms:4
  • Full Bathrooms:3
  • 1/2 Bathrooms:1
Appliances:Cooktop, Dishwasher, Dryer, Microwave, Range Hood, Refrigerator, Security System, Smoke Detector, Stove/Oven Electric, Washer, Water Heater - Tnkls
Air Cond:Central Air
Fireplaces:
Floor:Floor Vinyl
Other:
  • Additional:Ceiling Crwn Molding, Fireplace, Pantry

Exterior Features

Lot Dimensions:150 X 55 X 73 X 55
Zoning:Resid Multi-Family
Others:
  • Additional:Balcony, Fenced Back Yard, Hurricane Shutters, Patio Covered, Patio Enclosed
Sewer:Public Sewer
Parking Features:Garage Detached
Principal Interest
$6,213
Taxes
$414

Home Price

$1,225,000

Loan Details

30 yrs
6.529%

Down Payment

20%
$245,000
All calculations are estimates and provided by Blueroof360. Today’s Rates provided by Blueroof360. Information and interactive calculators are made available to you only as self-help tools for your independent use and are not intended to provide investment or tax advice. We cannot and do not guarantee their applicability or accuracy in regards to your individual circumstances. All examples are hypothetical and are for illustrative purposes. We encourage you to seek personalized advice from qualified professionals regarding all personal finance issues.
Monthly Price:
$6,212.97

Principal

Taxes

Principal Taxes HOA Total
Monthly $6,212.97 $414.37 $0.00 $6,627.34
Yearly $74,555.63 $4,972.47 $0.00 $79,528.10
Total $2,236,668.79 $149,174.10 $0.00 $2,385,842.89

Today's Rates

30 Year

6.53%

20 Year

6.33%

15 Year

5.93%

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Market insight data is pulled from the same city as the listing being viewed (Panama City Beach, FL).

The schools listed are within a 2-mile radius of the property; however, attendance is not guaranteed. Please contact the local school district to confirm zoning and enrollment options.

Information provided by Emerald Coast Multiple Listing Services, and is deemed reliable but not guaranteed accurate.

IDX service by Blueroof 360

Data last updated: 2026-08-20T07:16:22.000Z

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