Investor & Builder Alert! Multi-Use Duplex with Expansion Potential--FHA 203(k) Eligible!Opportunity is knocking in Springfield! This permitted duplex offers 2,260 sq ft of rentable space on a .31-acre corner lot in a mixed-use zone--and it's eligible to be subdivided! Whether you're looking to build a second duplex, add a single-family home, or simply maximize rental income, the possibilities here are huge.Live in one unit and rent the other, or lease both for passive income. The upper unit features 3 spacious bedrooms, 2 full baths, and an ensuite primary suite. The lower unit includes 2 bedrooms, 1 bath, and easy front/back yard access. Each unit has indoor laundry, separate utilities, and individual electrical and water meters--perfect for long-term tenants or short-term rental flexibility.Renovations are underway and include:✔️ New windows, subfloor, PEX plumbing & electrical wiring✔️ New HVAC system & ductwork (upstairs)✔️ Recessed lighting throughout✔️ Tankless water heater✔️ New roof (2019), new siding, exterior stairs to upper unit✔️ RV hookups + large storage shedPublic utilities + natural gas onsite. Located in a quiet neighborhood just 7 miles from Tyndall AFB and 25 minutes to Panama City Beach--home to the world's most beautiful beaches.Bonus: Construction materials on site convey with sale.This is a rare chance to capitalize on Springfield's growth. Schedule your showing today and bring your vision to life!
New construction
Price cut: $10K (8/8)
$239,900
819 Russ Lake Dr, Panama City, FL 32404
5beds
2,260sqft
Est.:
Duplex, Multi Family
Built in 1971
-- sqft lot
$-- Zestimate®
$106/sqft
$-- HOA
What's special
Rv hookupsSizable bedroomsNew roofEnsuite bathroomIndoor laundryCorner lotNew windows
- 166 days
- on Zillow |
- 441 |
- 16 |
Zillow last checked: 7 hours ago
Listing updated: August 08, 2025 at 09:57am
Listed by:
Catriese M Johnson 850-687-7487,
Coldwell Banker Realty
Source: CPAR,MLS#: 769484
Originating MLS: Central Panhandle Association of REALTORS

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Tour with a buyer's agent
Tour with a buyer's agent
Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 5
- Bathrooms: 3
- Full bathrooms: 3
Rooms
- Room types: Bedroom, Primary Bathroom, Primary Bedroom
Primary bedroom
- Level: Second
- Area: 0
- Dimensions: 0 x 0
Bedroom
- Level: Second
- Area: 0
- Dimensions: 0 x 0
Bedroom
- Level: Second
- Area: 0
- Dimensions: 0 x 0
Bedroom
- Level: First
- Area: 0
- Dimensions: 0 x 0
Primary bathroom
- Level: First
- Area: 0
- Dimensions: 0 x 0
Heating
- Central
Cooling
- Central Air
Interior area
- Total interior livable area: 2,260 sqft
Property
Features
- Pool features: None
Lot
- Size: 0.31 Acres
- Dimensions: 97 x 140
Details
- Parcel number: 15033000000
Construction
Type & style
- Home type: MultiFamily
- Architectural style: Duplex
- Property subtype: Duplex, Multi Family
- Attached to another structure: Yes
Condition
- Under Construction
- New construction: Yes
- Year built: 1971
Community & HOA
Community
- Features: Short Term Rental Allowed
- Subdivision: No Named Subdivision
HOA
- Has HOA: No
Location
- Region: Panama City
Financial & listing details
- Price per square foot: $106/sqft
- Tax assessed value: $74,017
- Annual tax amount: $1,352
- Date on market: 2/27/2025
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