Agent profile image in chat bubble
Agent profile image in chat header

Harrison Lilly Team

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

Agent profile image in message

331 Maine Ave , Panama City, FL 32401
$249,000
Est. Payment: $1,375.69/mo
4 Bed
2 Bath
1152 Sqft
0.34 Acres
Status: Active | Days on site: 1
Get Pre-Qualified
EXPR - B8469
By proceeding and clicking the sign up button, you consent to receive calls and texts (SMS/MMS) including marketing and promotional communications, from Harrison Lilly Team, its affiliates, and agents or vendors acting on their behalf. These communications may be delivered using an automatic telephone dialing system or by using an artificial or prerecorded voice. Message and data rates may apply. To opt out of text messages, reply STOP. Your consent is not required as a condition of any purchase. By continuing, you also agree to our Terms of Use and Privacy Policy.
Agent profile image
Harrison Lilly Team
Owner/Operator

House Description

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 versatile property, once a 4 BR 2 BA, has been converted to a 2-unit rental property that is perfect for short- or mid-term rental income or as a single-family main house/mother-in-law suite arrangement. Want to restore the 4/2 as one unit? No problem! Just uncover the blocked-off door between units, and you're there! This property has been rented only on Furnished Finder and by word of mouth. Seller states income for 2025 was $28,710! WHY THIS PROPERTY IS AWESOME: --Multiple possibilities for living/renting - especially as workforce housing for travel nurses, military, contractors, and others --NEW METAL ROOF in 2026! --Other updates/upgrades/repairs made recently. See attached documents. --2 BR, 1 BA in front, 1 BR, 1 BA in back (or restore to 4/2 as noted above) --Stated mid-term rental 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! --Fresh paint in main (front) unit --Driveway parking for 4; boat parking is easy! --HUGE backyard on this 75' x 200' lot. Make your own nature oasis with fruit trees or palms or put in a pickleball court, fire pit, and a pool! --Close to Ascension Sacred Heart (Bay Medical), downtown PC, Eastern Shipbuilding, two marinas, Tyndall AFB, and walkable to Gene's Oyster Bar See the full list of updates/upgrades/repairs in the attached DOCUMENTS section. COME SEE THIS TODAY! OPEN FOR SHOWINGS ANY TIME!

Highlights

Listed by January Johnson , 850-691-9851 EXP Realty LLC , 888-883-8509. Bay County Association of REALTORS

Property Type

Residential

Lot/Acreage
0.34

Year Built

1945

County

Bay

Area

02 - Bay County - Central

Neighborhood

Welch Add

Listing ID

795808

Questions about this listing?

Contact Agent

Interior Features

Bedrooms and Bathrooms
  • ▪ Bedrooms:4
  • ▪ Bathrooms:2
  • ▪ Full Bathrooms:2
Appliances:Electric Range, Electric Water Heater
Air Cond:Ductless,Wall Unit(s)
Fireplaces:

Exterior Features

Lot Dimensions:72.0 ft x 209.0 ft
Zoning:Resid Single Family
Sewer:Public Sewer
Principal Interest
$1,376
Taxes
$205

Home Price

$249,000

Loan Details

30 yrs
7.374%

Down Payment

20%
$49,800
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:
$1,375.69

Principal

Taxes

Principal Taxes HOA Total
Monthly $1,375.69 $204.78 $0.00 $1,580.46
Yearly $16,508.27 $2,457.30 $0.00 $18,965.57
Total $495,248.09 $73,719.00 $0.00 $568,967.09

Today's Rates

30 Year

7.37%

20 Year

7.27%

15 Year

6.8%

Never Miss a Property

Be the first to know when a property hits the market.

Current Listings

Last 30 Days
N/A
Oct 2026

Average Price

All Price Ranges
N/A
Oct 2026

Average Days on Market

All Price Ranges
N/A
Oct 2026
Market insight data is pulled from the same city as the listing being viewed (Panama City, 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 Bay County Association of REALTORS, and is deemed reliable but not guaranteed accurate.

IDX service by Blueroof 360

Data last updated: 2026-10-07T05:07:46.000Z

© 2026 Bay County Association of REALTORS