206 E 2nd CT #A & B Panama City, FL 32401 Open Sun 11AM-1PM

UPDATED: 02/03/2026 10:48 PM ON MARKET: 7 days on market

$329,000

3 Beds2 Baths1,329 SqFt

Key Details

Property Type Single Family Home

Sub Type Detached Single Family

Listing Status Active

Purchase Type For Sale

Square Footage 1,329 sqft

Price per Sqft $247

Subdivision Harmon Plat

MLS Listing ID 994435

Style Florida Cottage

Bedrooms 3

Full Baths 2

Year Built 1934

Annual Tax Amount $3,729

Tax Year 2025

Lot Size 6,534 Sqft

Acres 0.15

Lot Dimensions 50 x 130

Property Sub-Type Detached Single Family

Source Emerald Coast Association of REALTORS®

Land Area 1329

Property Description

Rare opportunity in the COVE, Panama City, FL! Two-dwelling properties like this are extremely hard to find! This unique income-producing property features three separate structures, two dwelling units, separate utilities, and brand-new roofs on all buildings, making it an ideal option for investors, house hackers, multi-generational living, or short-term/long-term rental strategies. This home is only 0.5 miles from Harrison Avenue and downtown Panama City, an area that blends historic charm with modern energy. Situated on the shores of St. Andrews Bay, downtown has experienced a resurgence in recent years, with new shops, restaurants, breweries, galleries, and community events revitalizing its historic core.

The front home is vacant and fully remodeled (2023) and offers 2 bedrooms, 1 bathroom, and 859 sq. ft. of living space. Updates include a new A/C (2025, under warranty), impact skylight, new appliances, washer & dryer, new plumbing, new flooring, new blinds, and a fully fenced private yard with off-street parking and storage. Previous rent: $1,900/mo.

Unit B features 1 bedroom, 1 bathroom, and 470 sq. ft., with a new split A/C (2026), covered patio, private fenced yard, and separate driveway with private alley access! Perfect for rental income, guest suite, or entertainment space. Rented: $900/mo.

Each unit has separate electric and water meters, allowing for a true income-producing operation that offers privacy for each unit and simplified property management.

A third structure provides dedicated laundry for Unit B and additional storage for both homes, increasing functionality and tenant appeal.

Located in the highly desirable Cove area of Panama City, this property offers charm, convenience, and long-term value just minutes from downtown shopping, dining, schools, and the water. This is a unique investment opportunity in one of the city's most established neighborhoods! Measurements are to be verified by Buyer.