Duplex with Separate Power and
For Sale
$475,000
2432 Valley Oak Court A&B, Panama City Beach, FL 32408
MULTI_FAMILY - Other - Panama City Beach, FL
Property Size2,196 SF
Price / SF$216.30
Days on Market249
Property Features for 2432 Valley Oak Court A&B
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
Resid Multi-Family
Bedrooms
4
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 1, Bathroom 1, Bedroom 2, Bedroom 3, Bedroom 4, Bathroom 3, Bathroom 2, Bathroom 4
Appliances
Dishwasher, Microwave, Stove/Oven Electric, Water Heater - Elect
Subdivision
NORTH LAGOON OAKS
Elementary school
Patronis
Middle school
Surfside
High school
Arnold
Directions
Heading South on Thomas Drive, turn right onto Summer Oak Drive. Make a right onto Grand Oaks Lane and then make a left on Valley Oak Court. Duplex will be on the left.
Standard status
Active
APN
30167-808-000
Size
2,196 SF
Taxes and HOA fees
Tax Year
2025
Tax Description
NORTH LAGOON OAKS 7TH ADD. LOT 2 BLK D ORB 4713 P 2049
Tax Annual Amount
5685
Legal Description
NORTH LAGOON OAKS 7TH ADD. LOT 2 BLK D ORB 4713 P 2049
Utilities
Sewer type
Septic Tank
Cooling system
Central Air
Building Details
Year built
2019
Floors in Building
1
Architectural style
Other
Listing Agency:
EXP Realty LLC
(888) 883-8509
Listed By:
Bubba McCants · License #3062634
(850) 624-8433
Added: Dec 18, 2025
Changed: Aug 12
Last Checked: Aug 24 at 8:06PM
MLS# 991465
Copyright © 2026 Emerald Coast Association of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
A well-designed two-unit duplex offering independent living setups for Unit A and Unit B. Each unit features two bedrooms and two bathrooms, with separate power and water meters to support fully independent occupancy. Both units are currently occupied, providing immediate rental continuity.
The property was built in 2019 and totals 2,196 square feet. Central air cooling is provided, and the home is served by a septic tank for sewer. In-unit electric appliances include a dishwasher, microwave, and electric stove/oven, along with an electric water heater.
Location is on North Lagoon in Panama City Beach, Florida, with the beaches about a 2-minute drive away and Pier Park approximately 15 minutes from the property.
The property was built in 2019 and totals 2,196 square feet. Central air cooling is provided, and the home is served by a septic tank for sewer. In-unit electric appliances include a dishwasher, microwave, and electric stove/oven, along with an electric water heater.
Location is on North Lagoon in Panama City Beach, Florida, with the beaches about a 2-minute drive away and Pier Park approximately 15 minutes from the property.
Key Highlights
- 2,196 SF two‑unit duplex built in 2019
- Each unit has two bedrooms and two bathrooms
- Unit A and Unit B have separate power and water meters
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$23,366
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.92%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$467,320
$467.3K
Cap Rate 7%
$333,800
$333.8K
Cap Rate 9%
$259,622
$259.6K
Market Conditions
NOI Build-Up for 2,196 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$35.6K $16.20/SF
− Vacancy
−$2.2K −$1.00/SF
EGI
$33.4K $15.20/SF
− OpEx
−$10.0K −$4.56/SF
NOI
$23.4K $10.64/SF
Area
Bay County, FL
Vacancy
6.17%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$467,320
Cap Rate 7%
$333,800
Cap Rate 9%
$259,622
Alternative Uses
Best Use
Multifamily LT 5
$333.8K
$292.1K – $389.4K
NOI $23,366 @ 7.0% cap · market cap 4.92%
Second Best
Apartment 5plus
$305.9K
$267.6K – $356.9K
NOI $21,411 @ 7.0% cap · market cap 4.51%
Theoretical Best
Office A
$639.8K
$559.9K – $746.5K
NOI $44,789 @ 7.0% cap · market cap 9.43%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
378
Businesses Nearby
Explore this area
Business Placement
Demographics for 32408, FL
17,479
Population
17,018
Households
1
Avg Household Size
48
Median Age
39%
College-Educated
96%
High-School Grad
8.6 sq mi
ZIP Area
2,032
Density / Sq Mi
$72,322
Median Household Income
$42,749
Median Earnings
$1,453
Median Rent
$352,400
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Two-unit duplex built in 2019 with each unit separately metered for power and water.
Where is this duplex located?
The property is located at 2432 Valley Oak Court A&B Panama City Beach, FL.
What is the asking price?
The asking price for this property is $475,000.
What are key features of this property?
This property features: 2,196 SF two‑unit duplex built in 2019; Each unit has two bedrooms and two bathrooms; Unit A and Unit B have separate power and water meters
