#775045, Listing office: Realty One Group Emerald Coast
$325,000 List price
5501 Lagoon Way Panama City Beach, FL 32408
3 beds
2 full
1,736 sqft
0.1 acres
$187 / sqft
House
Property details
About 5501 Lagoon Way
CURRENTLY UNDER CONTRACT, SELLER WILL CONSIDER BACKUP OFFERS - Just five blocks from the sugar-white sands of Panama City Beach and within walking distance to the lagoon and a public boat ramp, 5501 Lagoon Way offers a unique opportunity in a prime coastal location. This 3-bedroom, 2-bathroom home features a flex space off the Florida room, ideal for a home office, playroom, or hobby area. Originally a 2-bedroom, 1-bath layout, the home was expanded to include a third bedroom and second full bathroom through a garage conversion that was previously used as a private beauty salon. A wood-burning fireplace adds charm to the main living area, and while the home showcases a vintage design, several major system upgrades have been completed. Recent improvements include storm-rated double-pane vinyl windows installed in 2024, a roof replacement in 2019, and updated wood siding on the back of the home in 2022 with new base trim around the entire exterior. The HVAC system was replaced around 2019, and the Whirlpool water heater, 2022 stainless steel LG refrigerator, and 2021 Samsung front-load washer and dryer offer modern comfort and efficiency. The addition was fully insulated, and the home is located in Flood Zone X. The septic system is situated in the front yard for easy access. All information is deemed reliable but not guaranteed. Buyer to verify all information.
Highlights
Home typeSingle Family Residence
HeatingCentral, Electric, Fireplace(s)
StatusAccepting Backup Offers
(Active Under Contract)
(Active Under Contract)
CoolingCentral Air, Electric, Window Unit(s)
Size1,736 sqft
Lot size0.14 Acres
Year built1977
ParkingCarport, Driveway
MLS #771218
Summary
- Full Bathrooms: 2
- Appliances: Dryer, Dishwasher, Electric Oven, Refrigerator, Washer
- Interior: Breakfast Bar, Split Bedrooms, Storage
- Total Bedroom Count: 3
- Parking: Carport, Driveway
- Architectural Style: Contemporary
- Heating: Central, Electric, Fireplace(s)
- Cooling: Central Air, Electric, Window Unit(s)
- List Price: $325,000
- Price/SqFt: $187
- Annual Tax Amount: $613
- Tax Year: 2023
- Lot: Interior Lot
- Directions: From Schooners West bound on Thomas Drive, turn right on Biltmore, then right on Lagoon Way, house will be the first on the right
- Year Built: 1977
- Living Area: 1,736 SqFt
- Lot Size: 0.14 Acres
- MLS Number: 771218
- MLS Name: BCAR
- Office Name: Coldwell Banker Realty
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© 2025 Central Panhandle Association of REALTORS.© All Rights Reserved.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 7/23/2025, 5:45:30 AM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.
Price information
Property sales
We're sorry, we currently don't have property sales data for this listing.
Tax history
| Year | Assessment | Property Tax |
|---|---|---|
| 2023 | $89,869 | $613 |
| 2022 | $87,251 | $602 |
| 2021 | $84,710 | $602 |
| 2020 | $83,540 | $591 |
| 2018 | $80,304 | $566 |
| 2017 | $71,800 | $487 |
History based on county public records data.
Nearby schools
7
Patronis Elementary School
Public District KG-5
1.7 mi
•7400 Patronis Dr
5
Lucille Moore Elementary School
Public District PK-5
3.7 mi
•1900 Michigan Ave
1
St. Andrew School at Oakland Terrace
Public District PK-5
4.1 mi
•2010 W 12th St
School ratings are a score out of 10, where 10 is the highest and 1 is the lowest.
Neighborhood
The neighbors living near this home have an average income of $41,776. Most Panama City Beach, FL residents have annual incomes between $35k-100k. Typical family type is single, no kids. Most residents in this area have high school diploma education.
How much money do the neighbors make?
37%
<35k
49%
35k-100k
8%
100k-200k
6%
200k+
What level of education do the neighbors have?
No High School
High School Diploma
Post Secondary Degree
Masters Degree
Doctorate
What types of families live nearby?
57%
Single, No Kids
6%
Single, with Kids
28%
Married, No Kids
9%
Married, with Kids
Are the neighbors home owners or renters?
Home Owners
Renters
How old are people in this area?
8%
<11 yrs old
4%
12-17 yrs old
23%
18-34 yrs old
44%
35-64 yrs old
21%
65+ yrs old
What do the neighbors do for fun?
Figure Skating
Pro Wrestling
College Football
Where do the neighbors shop?
Kmart
Family Dollar
Express/Express For Men
Where do the neighbors go to eat?
Bob Evans
Dominos Pizza
Sonic
What do the neighbors drive?
Buick
Ford
Kia
What do the neighbors listen to?
Oldies
New Country
News/Talk/Information
All data provided by Home Junction and Claritas
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Frequently asked questions
About 5501 Lagoon Way
The listing price of 5501 Lagoon Way property is $325,000.
The property 5501 Lagoon Way is a house located in Panama City Beach, Florida, 32408.
Accepting Backup Offers: 5501 Lagoon Way is Accepting Backup Offers (Active Under Contract), there is still a chance to have your real estate agent submit an offer.
The nearby schools for 5501 Lagoon Way are: Patronis Elementary School (GreatSchools Rating 7/10), Lucille Moore Elementary School (GreatSchools Rating 5/10), St. Andrew School at Oakland Terrace (GreatSchools Rating 1/10), Breakfast Point Academy (GreatSchools Rating 6/10), Jinks Middle School (GreatSchools Rating 2/10), University Academy Sabl Inc (GreatSchools Rating 10/10), Rising Leaders Academy (GreatSchools Rating 5/10), Bay Virtual Franchise (GreatSchools Rating 6/10), Central High School (GreatSchools Rating 2/10).
According to the records, the last property tax for 2023 is $613 (source: MLS/based on county public records data).
The property at 5501 Lagoon Way has 3 bedrooms and 2 bathrooms.
The property 5501 Lagoon Way is 1,736 SqFt (source: MLS/tax record).
The year of construction for 5501 Lagoon Way is 1977.
This home is located at 5501 Lagoon Way in Panama City Beach, FL and zip code 32408 in the Biltmore Beach neighborhood. This 1,736 square foot home, which was built in 1977, sits on a 0.14 acre lot. Features: 3 bedrooms, 2 bathrooms. It has been listed on Rocket Homes since April 6, 2025 and is currently priced at $325,000.
Panama City Beach, FL housing market in June 2025 saw over 26 listings sold above listed price, more than 47 sold at listed price and over 144 sold below. The inventory of homes for sale in Panama City Beach, FL between May and June 2025 decreased by 2.4%. Listings spent 78 days on the market in June 2025, and had a median list price of $330,871 during the same period.
From Rocket Homes Real Estate and based on county public records data.