Back 508 Parkwood Drive
Off Market

508 Parkwood Drive

Panama City FL 32405

4
3
2
2262 sq. ft.
13504 sq. ft.
Single-Family
Last sold for $565,000
Beth MulveyBeth Mulvey, last sold this property on 14 May 2026 after 237 days on market.

Overview

Pool home with RV and boat parking and no HOA, located on a quiet dead-end street in the desirable Woods neighborhood of Panama City. This beautifully updated 4-bedroom, 2.5-bath home offers over 2,260 square feet of living space on a spacious 0.31-acre lot and has been extensively renovated within the past three years with major upgrades including a new roof, updated cabinetry, appliances, flooring, bathrooms, and solar panels for improved energy efficiency. Inside, the home features a bright and open layout with updated ceramic tile flooring, modern fixtures, and comfortable living spaces designed for both everyday living and entertaining. The kitchen is centered around a large island with abundant cabinet storage and a generously sized pantry with custom shelving, while the dining area overlooks the backyard and pool. The primary suite provides a spacious retreat with a massive walk-in closet and a beautifully renovated bathroom featuring a double shower. The flexible floor plan also includes a dedicated office space ideal for working from home along with an oversized laundry room comparable in size to an additional bedroom. Outdoor living is one of the standout features of this property. The backyard showcases a brand-new ozone pool with tanning shelf and all new equipment, along with a pergola that creates a shaded space perfect for relaxing or entertaining. The fully fenced yard provides privacy and room to enjoy the outdoor setting. For those needing additional storage or parking, the property includes a 23' by 35' concrete pad ideal for an RV, boat, trailer, or multiple recreational vehicles. The finished garage features painted flooring, attic access, and a secondary door leading to the backyard. A detached shed with electrical service offers additional workspace or storage. Additional improvements include a whole-home generator, two 50-amp power plugs, built-in security cameras, and a sprinkler system powered by a private well that can also connect to city water. Conveniently located just minutes from shopping, dining, medical facilities, and downtown Panama City, this home offers the rare combination of major upgrades, energy efficiency, resort-style outdoor living, and space to park your boat or RV without the restrictions of an HOA. Solar panels are paid off.

Features

4 bedrooms
3 bathrooms
2 carspaces
2 garage spaces
2262 sq. ft. floor area
13504 sq. ft. lot size
Single-Family

Estimated Value

Based on this property and similar 4 bedroom single-family properties sold in Panama City over the last 12 months, the estimated median property value of 508 Parkwood Drive is $452.5k.

Median value
$452.5k
Estimated value range
$130k - $4.57m
Median days on market
48
Estimated value trend
18%
increase over the last 12 months
Average days on market is based on recent, comparable sales in Panama City. It is only an indication of the time a property is actively listed and should not be relied upon as an accurate representation of how soon a property will be sold.

Property history for 508 Parkwood Drive

2026
Sold
$565,000
14 May 2026 by Beth Mulvey, of Beach House Sales and Development
2023
Sold
$460,000
28 Jul 2023 by Rob Kinney, of Counts Real Estate Group Inc
2020
Sold
$355,000
17 Jul 2020 by Eugeniu Ursu, of Joseph Metz

Happy sellers in Panama City

95%
95% of sellers in Panama City reported that their sale price either exceeded or met their price expectations.

Panama City stands out for consistently delivering exceptional satisfaction and strong market results for homeowners.

This is based on voluntary sentiment collected from 7 reviews in Panama City over the last 12 months.

Local market activity for 4 bedroom single-family properties in Panama City

In the last 12 months, 117 four-bedroom single-family properties similar to 508 Parkwood Drive, have been sold.

This represents a 10% increase in four-bedroom single-family properties sales when compared to the previous 12 months.

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