**2.5 acres zoned Mixed Use 3 in City of Panama City centrally located! ** Survey (boundary, topographical, wetland) completed/available. Also the Environmental / Ecological Site Assessment and GEO-Technical Engineering Report have been completed. Property zoned MU-3 -The purpose of this zoning district is to provide areas for medium- to high-density residential development, in combination with professional offices, educational, and low-intensity, neighborhood commercial uses. Multi-family structures, up to 20 units per acre. (see documents for zoning). Property being sold as -is. *Information provided is deemed reliable but is not guaranteed and should be independently verified by the buyer*
Property Details
Property Features
Listing Office:
Office Name: Overstreet Realty
Lot Features
Lot Information:
Lot: Cleared, Corner Lot, Other, See Remarks
Lot Size: 2.50 Acres
Other
Directions Information:
Directions: From the intersection of Martin Luther King Jr BLVD and E 11th ST, go east on E 11th St, lot will be on your right on the corner of Mercedes Ave and E 11th St.
Price Information
Listing Price Info
Price Summary:
List Price: $255,000
Tax Information:
Annual Amount: $1,920
Tax Year: 2020
What can I afford?
Understand what home price range makes sense for your budget.
Housing Market Comparison
See how this home compares to others in Panama City, FL.
Calculate your estimated monthly expenses for this listing. Play with the values below to better understand your monthly payment and utilities.
$1,340
Per Month
Principal & Interest
$1,273
Home PriceThe dollar amount you pay for the home.
$
Interest RateMortgage interest rates fluctuate, but they're typically in the 5% to 9% range. Your rate will be calculated based on personal details including your credit score.
%
Down PaymentThe initial money paid at closing that is usually a percentage of the purchase price. Most loans require at least 3% down, but a 0% down payment may be possible if you're eligible for a VA or USDA loan.
$%
Loan TermThis is how long you'll pay on the loan. A longer term gives you smaller payments, while a shorter term saves you money on interest.
Property Taxes
$0
Property Taxes -Annual CostEvery homeowner pays taxes to their local government based on their home's value and the property tax rates for the county or city. Most areas charge property taxes semiannually.
$/ Year
Mortgage Insurance
$0
Mortgage Insurance -Monthly PremiumMortgage insurance helps secure a mortgage with a lower down payment. It typically costs 0.1% - 2% of your loan amount per year.
$/ Month
Homeowners Insurance
$67
Homeowners Insurance -Monthly PremiumMost homeowners pay about $1,000 a year for homeowners insurance, but the cost varies based on your location, home and coverage.
$/ Month
Homeowners Association (HOA)
$0
Homeowners Association -Monthly FeesHomeowners Association (HOA) fees can range from $30 per month to $500+ per month. Be sure to ask your agent about HOA fees on a home as it can impact your affordability or check the online home listing.
$/ Month
Utilities
$0
Utilities - Monthly CostYou'll need to budget for utilities as a homeowner, which typically includes water and sewer, gas and electric, internet and cable. Cost will depend on your location and the size of your home. On a monthly basis, Americans pay $239 - $442 per month.
$/ Month
Recommended Financing
30-Year Fixed
Rate/APR
7.5% / 6.68%
Total Monthly Payment
$831
Powered By
Advertisement
NMLS#3030
Schools
Schools Nearby
The school rating is a score out of 10, where 10 is the highest and 1 is the lowest. Assigned schools have a bold outline.
We're sorry, we currently don't have assigned school data for this listing.
Nearby Schools
1
/10
Merriam Cherry Street Elementary School
1125 Cherry St
Distance between this listing and this school1.41 miles
Public District Grades PK-5
1
/10
Cedar Grove Elementary School
2826 E 15th St
Distance between this listing and this school1.50 miles
Public District Grades PK-5
6
/10
Palm Bay Elementary School
1104 Balboa Ave
Distance between this listing and this school1.75 miles
Public Charter Grades KG-5
Nearby Schools
4
/10
Jinks Middle School
600 W 11th St
Distance between this listing and this school1.36 miles
Public District Grades 6-8
7
/10
Bay Haven Charter Middle School
2501 Hawks Landing Blvd
Distance between this listing and this school3.39 miles
Public Charter Grades 6-8
10
/10
University Academy Sabl Inc
1980 Discovery Loop
Distance between this listing and this school3.56 miles
Public Charter Grades KG-8
Nearby Schools
1
/10
Rosenwald High School
924 Bay Ave
Distance between this listing and this school0.29 miles
Public District Grades 6-12
4
/10
Bay High School
1200 Harrison Ave
Distance between this listing and this school0.85 miles
Public District Grades 9-12
5
/10
Palm Bay Preparatory Academy 6-12
1104 Balboa Ave
Distance between this listing and this school1.74 miles
The neighbors living near this home have an average income of $26,458. Residents of Panama City, FL typically earn less than $35k each year. The most common type of family is single, no kids. Typical level of education for residents in this area is high school diploma.
All data provided by Home Junction and Claritas
Frequently Asked Questions About 1014 Mercedes Ave
What is the listing price of this property?
The listing price of 1014 Mercedes Ave property is $255,000.
What type of property is this?
The property 1014 Mercedes Ave is land located in Panama City, Florida, 32401.
Is this property for sale now?
Active Listing: 1014 Mercedes Ave is For Sale (Active/New) which means the seller is accepting offers.
What is the annual property tax for this property?
According to the records, the last property tax for 2020 is $1,920 (source: MLS/based on county public records data).
When was this property sold last time and for how much?
The last sale was on March 26, 2020 for $175,000. (source: MLS/tax record).
By checking this box and submitting your personal information, you agree to our Terms of Use and Privacy Policy. You also expressly consent to having Rocket Homes Real Estate LLC, its Family of Companies, Rocket Homes Network Partners, and potentially our mortgage partners contact you about your inquiry by text message or phone (including automatic telephone dialing system, AI voice, or an artificial or prerecorded voice) to the residential or cellular telephone number you have provided, even if that telephone number is on a corporate, state, or national Do Not Call Registry. You do not have to agree to receive such calls or messages as a condition of getting any services from Rocket Homes Real Estate, LLC or its partners. By communicating with us by phone, you consent to calls being recorded and monitored. You also agree that we can share your personal data and contact information with third parties such as mortgage partners, partner companies, and affiliates, and that these parties may use your personal data and contact information for marketing and analytic purposes, and to improve your experience.
This home is located at 1014 Mercedes Ave in Panama City, FL and zip code 32401. This home sits on a 2.50 acre lot. It has been listed on Rocket Homes since January 20, 2024 and is currently priced at $255,000.
In October 2024, from all listings sold in Panama City, FL there were more than 16 sold above asking price, over 138 sold below and more than 40 were sold right at the asked price. Between September 2024 and October 2024, Panama City, FL real estate market has seen decrease in the number of listings by 1.7%. While the average time on the market in October 2024 was 77 days, the median list price was $339,477.
From Rocket Homes Real Estate and based on county public records data.
The data relating to real estate for sale on this web site comes in part from the Internet Data exchange program of Central Panhandle Association of REALTORS®. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information deemed reliable but not guaranteed. Properties subject to prior sale, change, withdrawal or rental. Copyright© 2024 Central Panhandle Association of REALTORS.© All Rights Reserved.
Pro Boxing
Pro Boxing
NHRA Drag Racing
Horse Races
Family Dollar
Big Lots
Stein Mart
White Castle
Golden Corral
LongHorn Steakhouse
Chevrolet
Kia
Buick
Rock
Adult Standards
Contemporary Inspirational