249 Lullwater Dr, Panama City Beach
Bay County Real Estate - Panama City Beach
Panama City Beach, positioned along Florida's gulf coast, has been called the "spring break capital of the world," attracting tens of thousands of college and high school students every year. In the early 2000s, high-rise condominiums and larger homes replaced small houses and run down motels, boosting the city's real estate market at the time. The City's white sand beaches, shopping, and numerous tourist attractions attract more than just spring breakers. Visitors of all ages frequent the city year round.
Panama City Beach is in North West Florida. It's population as recorded in the 2010 Census was 12,018. Panama City Beach is approximately 9 miles from Panama City (population 36,484) and around 51 miles from Fort Walton Beach (population 19,507).
The median age for residents of Panama City Beach is 40.9. Around 23.9% of Panama City Beach households include school aged children and 25.4% of households include individuals aged 65 years or over. Census records indicate 89.5% of the Panama City Beach population are White, 2.2% are Black or African American, .5% American Indian, 2.7% Asian and 3% are Two or more Races.
There are 17,141 housing units in Panama City Beach. 11,724 (68.3%) of these were reported as vacant in the 2010 Census. Panama City Beach is a tourist destination, 49% (5,746) of it's vacant housing units were classed as seasonal, recreational or for occasional use. There are 7,028 residential rental units in Panama City Beach. 2,532 of them were occupied in 2010 providing a residential rental vacancy rate of 62.7%.
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Bay County
Bay County is part of the Northwest Florida region, along with Santa Rosa, Escambia, Walton, Holmes, Jackson, Washington, Okaloosa, Calhoun, Liberty, Gulf, Franklin, Gadsden, Leon, Jefferson, and Wakulla counties. The largest industries by employment for Bay County are educational, health and social services; retail trade, and arts, entertainment, recreation, accommodation and food services. Bay County's white sand beaches and clear blue waters attract many visitors year round.
Top private sector employers in Bay County are Bay Medical center, Wal-Mart, Eastern Ship Building, Gulf Coast Medical Center, and Smurfit- Stone Container Corporation. Major public sector employers are Tyndall Air Force Base, Naval Support, Bay District schools, Gulf Coast State College, City of Panama City, Bay County Board, and Bay County Sheriff. Cities and towns in Bay County include Callaway, Lynn Haven, Mexico Beach, Panama City (county seat), Panama City Beach, Parker, and Springfield.
Neighboring Properties
| Address | Type | Sq Ft | Class | |
|---|---|---|---|---|
| 247 Lullwater Dr | Vacant Residential | 0 | L | |
| 251 Lullwater Dr | Single Family | 2,557 | B |
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| 245 Lullwater Dr | Single Family | 2,801 | B |
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| 257 Lullwater Dr D Dr | Vacant Residential | 0 | L | |
| 248 Lullwater Dr | Single Family | 2,086 | B |
|
| 16800 Junipero Ave | Single Family | 1,730 | B |
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| 243 Lullwater Dr | Vacant Residential | 0 | L | |
| 259 Lullwater Dr | Single Family | 3,274 | B |
|
| 16802 Junipero Ave | Single Family | 1,126 | B |
|
| 601 Lisbon Ave | Single Family | 1,861 | B |
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| 261 Lullwater Dr | Vacant Residential | 0 | L | |
| 252 Lullwater Dr | Single Family | 1,551 | B |
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| 241 Lullwater Dr | Single Family | 2,172 | B |
|
| 16804 Junipero Ave | Single Family | 1,421 | B |
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| 254 Lullwater Dr | Single Family | 1,534 | B |
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| 240 Lullwater Dr | Single Family | 1,522 | B |
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| 16803 Innocente Ave | Vacant Residential | 0 | L | |
| 256 Lullwater Dr | Single Family | 1,451 | B |
|
| 263 Lullwater Dr | Single Family | 2,904 | B |
|
| 16805 Innocente Ave | Vacant Residential | 0 | L | |
| 239 Lullwater Dr | Single Family | 1,985 | B |
|
| 16806 Junipero Ave | Single Family | 2,992 | B |
|
| 258 Lullwater Dr | Single Family | 1,581 | B |
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| 16807 Innocente Ave | Single Family | 1,666 | B |
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| 260 Lullwater Dr | Single Family | 2,457 | B |
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| 237 Lullwater Dr | Single Family | 2,383 | B |
|
| 16808 Junipero Ave | Single Family | 1,422 | B |
|
| 16809 Innocente Ave | Single Family | 1,558 | B |
|
| 611 Lisbon Ave | Single Family | 1,161 | B |
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| 262 Lullwater Dr | Vacant Residential | 0 | L | |
| 16811 Innocente Ave | Single Family | 1,294 | B |
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| 265 Lullwater Dr | Single Family | 2,324 | B |
|
| 16810 Junipero Ave | Single Family | 1,559 | B |
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| 613 Lisbon Ave | Single Family | 1,223 | C |
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| Junipero Ave | Vacant Residential | 0 | L | |
| 602 Lisbon Ave | Single Family | 972 | B |
|
Local Household Income
The median household income in this part of Florida is $57,128. The bottom 10% of the population earn less than $18,447 per year. The top 10% earn more than $136,019 per year. The top 1% earn more than $426,588 per year. Most renters earn between $29,172 (20th percentile) and $54,264 (80th percentile) per year. Someone earning the median household income in this area is likely to qualify for a mortgage between $114,256 and $142,820.
The tax assessed value of this property places it in percentile 84 of all properties in this area. This suggests it would appeal to someone earning around $112,316 per year who should qualify for a mortgage between $224,632 and $280,790.
Source: US Census American Community Survey - 2008-2012 ACS 5-year PUMS estimates
Local Rents
The median monthly rent in this part of Florida is $937. Most renters earn between $2,431 and $4,522 per month. They typically spend 31% of their monthly income on rent. Most rents fall in the $665 (20th percentile) to $1,275 (80th percentile) range. The residential vacancy rate is 18%.
This property falls in percentile 84 of all properties in this area. This corresponds to a rent of $1,344 per month and a monthly household income of $4,775 ($57,300 per year)
Nearby Companies
254 Lullwater Dr
239 Lullwater Dr