Real Estate Investment Properties for Sale in Panama City, FL

Looking for investment property in Panama City, FL with high ROI ?

Explore a variety of short-term homes & houses in Panama City, FL. Invest wisely with VRBO & Panama City, FL Airbnb properties available for purchase. Find your ideal investment property among our curated listings for a rewarding real estate venture.

Townhouses for Sale in Panama City, FL

Search for Townhouse for Sale in Panama City, Florida. Browse all of Mashvisor’s Townhouse listings and other investment property types including Single Family Homes, Multi Family Homes, Condos, Townhouses and Other Homes.

Showing 54 Townhouse listings of over 500,000 total investment properties for sale. Visit Mashvisor.com to all investment properties.

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PROPERTY	DETAILS	SALE PRICE	INVESTMENT PERFORMANCE
5106 Blue Harbor Drive Panama City, FL Gorgeous waterfront townhome with boat lift and brand-new jet ski lift! Don't miss this be...	3 beds \| 3 baths \| 2,108 sq.ft.	$545,000	Airbnb cash on cash: 1.77% Traditional cash on cash: 3.04% Airbnb Rental Income: $2840 Traditional Rental Income: $2826 Airbnb ROI: 1.77% Traditional ROI: 3.04%
5903 Sunset Avenue Panama City, FL Less than 5 minute walk to the GULF!, 4 bed/5 full bath & 3 balconies!!, Updated & Fully F...	4 beds \| 5 baths \| 2,464 sq.ft.	$950,000	Airbnb cash on cash: 1.24% Traditional cash on cash: 3.81% Airbnb Rental Income: $3160 Traditional Rental Income: $4716 Airbnb ROI: 1.24% Traditional ROI: 3.81%
5116 Blue Harbor Drive Panama City, FL Waterfront Living at Its Finest! This stunning end-unit townhome offers the perfect blend ...	3 beds \| 3 baths \| N/A	$515,000	Airbnb cash on cash: 1.95% Traditional cash on cash: 3.97% Airbnb Rental Income: $2840 Traditional Rental Income: $3152 Airbnb ROI: 1.95% Traditional ROI: 3.97%
2108 Sterling Cove Boulevard Panama City, FL Charming Updated Townhome in a Gated Community! Welcome to The Gates of Sterling Cove, a b...	2 beds \| 2 baths \| N/A	$240,000	Airbnb cash on cash: 3.71% Traditional cash on cash: 4.45% Airbnb Rental Income: $2121 Traditional Rental Income: $1745 Airbnb ROI: 3.71% Traditional ROI: 4.45%
2501 High Avenue Panama City, FL step inside this coastal gem-no HOA, no fees, and short-term rentals are allowed! Just a s...	4 beds \| 3 baths \| N/A	$585,000	Airbnb cash on cash: 2.42% Traditional cash on cash: 2.86% Airbnb Rental Income: $3160 Traditional Rental Income: $2684 Airbnb ROI: 2.42% Traditional ROI: 2.86%
6216 N Lagoon Drive Panama City, FL OPEN HOUSE SUNDAY(2/1) 12-2pm Welcome Home! Spacious end unit Townhome close To Everythi...	3 beds \| 3 baths \| 1,825 sq.ft.	$384,900	Airbnb cash on cash: 3.48% Traditional cash on cash: 3.9% Airbnb Rental Income: $2840 Traditional Rental Income: $2328 Airbnb ROI: 3.48% Traditional ROI: 3.9%
5720 Beach Drive Panama City, FL This Beach Townhouse is located in the South Lagoon area, just blocks from the Gulf of Mex...	2 beds \| 3 baths \| 1,158 sq.ft.	$360,000	Airbnb cash on cash: 2.6% Traditional cash on cash: 3.45% Airbnb Rental Income: $2121 Traditional Rental Income: $1864 Airbnb ROI: 2.6% Traditional ROI: 3.45%
204 Baldwin Rowe Circle Panama City, FL Right in the heart of Panama City, this Baldwin Rowe townhome puts you close to Bay County...	3 beds \| 3 baths \| 1,654 sq.ft.	$265,000	Airbnb cash on cash: 5.24% Traditional cash on cash: 5.18% Airbnb Rental Income: $2840 Traditional Rental Income: $2164 Airbnb ROI: 5.24% Traditional ROI: 5.18%
6300 Pinetree Avenue unit: B #B Panama City, FL Beautifully remodeled and fully furnished townhouse just minutes from the beach with NO HO...	2 beds \| 2 baths \| 1,088 sq.ft.	$310,000	Airbnb cash on cash: 3.24% Traditional cash on cash: 2.94% Airbnb Rental Income: $2121 Traditional Rental Income: $1490 Airbnb ROI: 3.24% Traditional ROI: 2.94%
7226 Quail Hollow Drive Panama City, FL $10K PRICE REDUCTION>>> Fabulous small, private community of 24 townhomes - off the main r...	3 beds \| 3 baths \| 1,428 sq.ft.	$269,900	Airbnb cash on cash: 4.99% Traditional cash on cash: 5.55% Airbnb Rental Income: $2840 Traditional Rental Income: $2320 Airbnb ROI: 4.99% Traditional ROI: 5.55%
6336 Omoko St Panama City, FL Newly Remodeled 2 Bed, 1.5 Bath Townhome! Step into this beautifully renovated townhome lo...	2 beds \| 1 baths \| 882 sq.ft.	$169,000	Airbnb cash on cash: 7.79% Traditional cash on cash: 6.63% Airbnb Rental Income: $2121 Traditional Rental Income: $1392 Airbnb ROI: 7.79% Traditional ROI: 6.63%
306 Penny Court Panama City, FL Beautiful Waterfront Townhome. The builder has been a licensed Florida Commercial and Resi...	4 beds \| 5 baths \| N/A	$665,000	Airbnb cash on cash: 2.32% Traditional cash on cash: 3.14% Airbnb Rental Income: $3160 Traditional Rental Income: $2952 Airbnb ROI: 2.32% Traditional ROI: 3.14%
6215 Thomas Drive unit: 131 #131 Panama City, FL HUGE Price Reduction! Summer Place Townhomes, South of Thomas Drive, on the Gulf side! Oft...	2 beds \| 2 baths \| 1,292 sq.ft.	$345,000	Airbnb cash on cash: 1.75% Traditional cash on cash: 2.02% Airbnb Rental Income: $2121 Traditional Rental Income: $1664 Airbnb ROI: 1.75% Traditional ROI: 2.02%
1353 Capri Drive Panama City, FL When location is important, you have the best of everything! Expect comfortable driving ti...	3 beds \| 3 baths \| 1,572 sq.ft.	$339,900	Airbnb cash on cash: 4.59% Traditional cash on cash: 4.93% Airbnb Rental Income: $2840 Traditional Rental Income: $2286 Airbnb ROI: 4.59% Traditional ROI: 4.93%
5900 Callaway Circle Panama City, FL This spacious two-story end-unit townhome is the perfect opportunity for military members,...	3 beds \| 3 baths \| N/A	$215,000	Airbnb cash on cash: 6.36% Traditional cash on cash: 5.75% Airbnb Rental Income: $2840 Traditional Rental Income: $2054 Airbnb ROI: 6.36% Traditional ROI: 5.75%
9614 Beach Boulevard unit: D #D Panama City, FL NO HOA and a very MOTIVATED SELLER looking for an offer on this beachfront townhouse -- cl...	3 beds \| 4 baths \| N/A	$1,060,000	Airbnb cash on cash: 0.51% Traditional cash on cash: 1.77% Airbnb Rental Income: $2840 Traditional Rental Income: $3417 Airbnb ROI: 0.51% Traditional ROI: 1.77%
2330 Pelican Bay Court Panama City, FL Wonderful waterfront townhouse, just a few steps to the water of St. Andrew's Bay. Enjoy y...	3 beds \| 3 baths \| N/A	$735,000	Airbnb cash on cash: 0.86% Traditional cash on cash: 2.28% Airbnb Rental Income: $2840 Traditional Rental Income: $3150 Airbnb ROI: 0.86% Traditional ROI: 2.28%
5905 Sunset Avenue Panama City, FL Less than 5 minute walk to the GULF!, 4 bed/5 full bath & 3 balconies!!, Updated & Fully F...	4 beds \| 5 baths \| 2,464 sq.ft.	$1,100,000	Airbnb cash on cash: 0.93% Traditional cash on cash: 3.3% Airbnb Rental Income: $3160 Traditional Rental Income: $4874 Airbnb ROI: 0.93% Traditional ROI: 3.3%
2026 Baker Court unit: 13 #13 Panama City, FL Charming 3-Bed, 2-Bath Home in Historic St. Andrews - Steps from the Bay! Located just one...	3 beds \| 2 baths \| N/A	$288,000	Airbnb cash on cash: 5.16% Traditional cash on cash: 4.28% Airbnb Rental Income: $2840 Traditional Rental Income: $1939 Airbnb ROI: 5.16% Traditional ROI: 4.28%
5345 Cherry Street Panama City, FL Luxury Townhomes Near Tyndall AFB - No HOA, No Restrictions!Step into refined living with ...	3 beds \| 2 baths \| 1,845 sq.ft.	$325,000	Airbnb cash on cash: 5.74% Traditional cash on cash: 5.69% Airbnb Rental Income: $2840 Traditional Rental Income: $2161 Airbnb ROI: 5.74% Traditional ROI: 5.69%
9014 Banyan Beach Drive Panama City, FL PRICE IMPROVEMENT HOME!! I love living in Banyan Beach!! This 3bed/2.5 Bath 2019 townhom...	3 beds \| 3 baths \| 1,476 sq.ft.	$324,900	Airbnb cash on cash: 4.5% Traditional cash on cash: 4.07% Airbnb Rental Income: $2840 Traditional Rental Income: $2047 Airbnb ROI: 4.5% Traditional ROI: 4.07%
802 Baldwin Rowe Circle Panama City, FL Welcome to this stunning 2-bedroom, 2.5-bath unit in the desirable gated community of Bald...	2 beds \| 3 baths \| 1,562 sq.ft.	$229,000	Airbnb cash on cash: 4.78% Traditional cash on cash: 6.33% Airbnb Rental Income: $2121 Traditional Rental Income: $1914 Airbnb ROI: 4.78% Traditional ROI: 6.33%
4036 Woodridge Road Panama City, FL This townhouse was completely rebuilt in 2019 from the ground up using only the best mater...	2 beds \| 2 baths \| 1,324 sq.ft.	$240,000	Airbnb cash on cash: 5.23% Traditional cash on cash: 5.56% Airbnb Rental Income: $2121 Traditional Rental Income: $1653 Airbnb ROI: 5.23% Traditional ROI: 5.56%
1025 W 19th Street unit: 2D #2D Panama City, FL This beautifully renovated 3-bedroom, 2-bath attached end unit offers an incredible opport...	3 beds \| 2 baths \| 1,671 sq.ft.	$247,300	Airbnb cash on cash: 6.04% Traditional cash on cash: 5.41% Airbnb Rental Income: $2840 Traditional Rental Income: $2031 Airbnb ROI: 6.04% Traditional ROI: 5.41%
122 Ridgecrest Court Panama City, FL NO HOA...Location Location Location. In the heart of town, easy access to Town, Beach or T...	2 beds \| 2 baths \| 1,332 sq.ft.	$249,900	Airbnb cash on cash: 4.05% Traditional cash on cash: 4.79% Airbnb Rental Income: $2121 Traditional Rental Income: $1753 Airbnb ROI: 4.05% Traditional ROI: 4.79%
5108 Blue Harbor Dr Panama City, FL Welcome to Paradice, where you can enjoy beautiful sunsets over Pitts Bayou. This home off...	3 beds \| 2 baths \| 2,358 sq.ft.	$489,000	Airbnb cash on cash: 1.89% Traditional cash on cash: 4% Airbnb Rental Income: $2840 Traditional Rental Income: $3161 Airbnb ROI: 1.89% Traditional ROI: 4%
6061 E Highway 98 Panama City, FL Welcome to year-round resort living in the charming waterfront community of Sunbay! This a...	3 beds \| 3 baths \| 1,293 sq.ft.	$240,000	Airbnb cash on cash: 6.88% Traditional cash on cash: 5.46% Airbnb Rental Income: $2840 Traditional Rental Income: $1856 Airbnb ROI: 6.88% Traditional ROI: 5.46%
1307 Calabria Road unit: 4A #4A Panama City, FL Fully Rehabbed 2 Bed / 2 Bath Charmer! Step into modern comfort and style at 1307 Calabria...	2 beds \| 2 baths \| N/A	$245,000	Airbnb cash on cash: 4.41% Traditional cash on cash: 4.2% Airbnb Rental Income: $2121 Traditional Rental Income: $1529 Airbnb ROI: 4.41% Traditional ROI: 4.2%
3809 Mystic Street Panama City, FL Price Drop, Motivated Seller Your Coastal Dream Awaits! Introducing the ultimate 2-be...	2 beds \| 2 baths \| 1,030 sq.ft.	$349,900	Airbnb cash on cash: 2.42% Traditional cash on cash: 1.95% Airbnb Rental Income: $2121 Traditional Rental Income: $1426 Airbnb ROI: 2.42% Traditional ROI: 1.95%
8520 N Lagoon Drive Panama City, FL No-HOA Coastal Townhome on North Lagoon Dr. Steps to the Beach + Proven ROI This charming ...	2 beds \| 2 baths \| 1,542 sq.ft.	$274,500	Airbnb cash on cash: 3.74% Traditional cash on cash: 4.17% Airbnb Rental Income: $2121 Traditional Rental Income: $1689 Airbnb ROI: 3.74% Traditional ROI: 4.17%
6128 Loquat Avenue Panama City, FL Discover coastal convenience with this fully furnished 2BR/2BA duplex unit, built in 2018 ...	2 beds \| 2 baths \| 881 sq.ft.	$250,000	Airbnb cash on cash: 4.53% Traditional cash on cash: 4.51% Airbnb Rental Income: $2121 Traditional Rental Income: $1575 Airbnb ROI: 4.53% Traditional ROI: 4.51%
149 Marin Drive Panama City, FL LAKE MARIN WATERFRONT TOWNHOUSE!!! These do not come up very often. Don't miss your chance...	3 beds \| 2 baths \| 1,566 sq.ft.	$350,000	Airbnb cash on cash: 5.25% Traditional cash on cash: 5.24% Airbnb Rental Income: $2840 Traditional Rental Income: $2174 Airbnb ROI: 5.25% Traditional ROI: 5.24%
406 Baldwin Rowe Circle unit: 406 #406 Panama City, FL This 3 bedroom 2.5 bath END unit is located in the gated community of Baldwin Rowe. Kitche...	3 beds \| 3 baths \| 1,654 sq.ft.	$245,000	Airbnb cash on cash: 6.89% Traditional cash on cash: 7.61% Airbnb Rental Income: $2840 Traditional Rental Income: $2346 Airbnb ROI: 6.89% Traditional ROI: 7.61%
4040 Woodridge Road Panama City, FL This cute home has plenty of room for a growing family! The open floor plan allows for fre...	2 beds \| 2 baths \| 1,300 sq.ft.	$230,000	Airbnb cash on cash: 5.15% Traditional cash on cash: 5.68% Airbnb Rental Income: $2121 Traditional Rental Income: $1695 Airbnb ROI: 5.15% Traditional ROI: 5.68%
7017 Beach Drive unit: A #A Panama City, FL NO HOA!! This one bedroom, 1 1/2 bath townhome just off of Thomas Dr. is a must see. Only ...	1 beds \| 2 baths \| 880 sq.ft.	$275,000	Airbnb cash on cash: 3.38% Traditional cash on cash: 3.45% Airbnb Rental Income: $1799 Traditional Rental Income: $1329 Airbnb ROI: 3.38% Traditional ROI: 3.45%
1311 Capri Drive Panama City, FL Waterfront living with direct Gulf access awaits at 1311 Capri Drive, Panama City, FL. Thi...	3 beds \| 3 baths \| 2,380 sq.ft.	$542,500	Airbnb cash on cash: 2.84% Traditional cash on cash: 3.81% Airbnb Rental Income: $2840 Traditional Rental Income: $2668 Airbnb ROI: 2.84% Traditional ROI: 3.81%
8021 Surf Drive Panama City, FL Wake up to the sound of waves and step directly from your patio onto the sugar-white sands...	2 beds \| 3 baths \| 1,290 sq.ft.	$760,000	Airbnb cash on cash: 0.3% Traditional cash on cash: 0.72% Airbnb Rental Income: $2121 Traditional Rental Income: $1875 Airbnb ROI: 0.3% Traditional ROI: 0.72%
1762 Jakes Drive Panama City, FL Well-maintained 3 bedroom, 2.5 bath townhouse located in a central Panama City location wi...	3 beds \| 3 baths \| 1,484 sq.ft.	$258,000	Airbnb cash on cash: 6.25% Traditional cash on cash: 5.32% Airbnb Rental Income: $2840 Traditional Rental Income: $1951 Airbnb ROI: 6.25% Traditional ROI: 5.32%
1209 Capri Drive unit: D #D Panama City, FL CURRENTLY UNDER CONTRACT, SELLER WILL CONSIDER BACKUP OFFERS. Experience the best of water...	3 beds \| 3 baths \| 1,572 sq.ft.	$335,000	Airbnb cash on cash: 4.38% Traditional cash on cash: 3.97% Airbnb Rental Income: $2840 Traditional Rental Income: $2047 Airbnb ROI: 4.38% Traditional ROI: 3.97%
1824 Mallard Drive unit: B #B Panama City, FL Seller is offering to help with buyers Closing cost. Welcome to 1824 Mallard Dr, Unit B, a...	3 beds \| 3 baths \| 1,736 sq.ft.	$279,900	Airbnb cash on cash: 6.35% Traditional cash on cash: 8.3% Airbnb Rental Income: $2840 Traditional Rental Income: $2692 Airbnb ROI: 6.35% Traditional ROI: 8.3%

Your search for investment property begins and ends here

Townhouses for Sale in Panama City, FL

5106 Blue Harbor Drive

Panama City, FL

3 beds | 3 baths | 2,108 sq.ft.

$545,000

Airbnb cash on cash: 1.77%

Traditional cash on cash: 3.04%

Airbnb Rental Income: $2840

Traditional Rental Income: $2826

Airbnb ROI: 1.77%

Traditional ROI: 3.04%

5903 Sunset Avenue

Panama City, FL

4 beds | 5 baths | 2,464 sq.ft.

$950,000

Airbnb cash on cash: 1.24%

Traditional cash on cash: 3.81%

Airbnb Rental Income: $3160

Traditional Rental Income: $4716

Airbnb ROI: 1.24%

Traditional ROI: 3.81%

5116 Blue Harbor Drive

Panama City, FL

3 beds | 3 baths | N/A

$515,000

Airbnb cash on cash: 1.95%

Traditional cash on cash: 3.97%

Airbnb Rental Income: $2840

Traditional Rental Income: $3152

Airbnb ROI: 1.95%

Traditional ROI: 3.97%

2108 Sterling Cove Boulevard

Panama City, FL

2 beds | 2 baths | N/A

$240,000

Airbnb cash on cash: 3.71%

Traditional cash on cash: 4.45%

Airbnb Rental Income: $2121

Traditional Rental Income: $1745

Airbnb ROI: 3.71%

Traditional ROI: 4.45%

2501 High Avenue

Panama City, FL

4 beds | 3 baths | N/A

$585,000

Airbnb cash on cash: 2.42%

Traditional cash on cash: 2.86%

Airbnb Rental Income: $3160

Traditional Rental Income: $2684

Airbnb ROI: 2.42%

Traditional ROI: 2.86%

6216 N Lagoon Drive

Panama City, FL

3 beds | 3 baths | 1,825 sq.ft.

$384,900

Airbnb cash on cash: 3.48%

Traditional cash on cash: 3.9%

Airbnb Rental Income: $2840

Traditional Rental Income: $2328

Airbnb ROI: 3.48%

Traditional ROI: 3.9%

5720 Beach Drive

Panama City, FL

2 beds | 3 baths | 1,158 sq.ft.

$360,000

Airbnb cash on cash: 2.6%

Traditional cash on cash: 3.45%

Airbnb Rental Income: $2121

Traditional Rental Income: $1864

Airbnb ROI: 2.6%

Traditional ROI: 3.45%

204 Baldwin Rowe Circle

Panama City, FL

3 beds | 3 baths | 1,654 sq.ft.

$265,000

Airbnb cash on cash: 5.24%

Traditional cash on cash: 5.18%

Airbnb Rental Income: $2840

Traditional Rental Income: $2164

Airbnb ROI: 5.24%