Adorable Duplex with Multiple
3707 Mystic Street Panama City Beach, FL 32408
3707 Mystic Street, Panama City Beach, FL, 32408
$645,000
For Sale
$645,000
MULTI_FAMILY - Other - Panama City Beach, FL
Property Size2,088 SF
Lot Size0.17 Acres
Price / SF$308.91
Days on Market140
Property Features for 3707 Mystic Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Zoning
- Resid Multi-Family
- Bedrooms
- 5
- Bathrooms
- 3
- Rooms
- Bedroom 3, Bathroom 2, Bedroom 1, Bedroom 2, Bedroom 5, Bathroom 1, Bedroom 4, Bathroom 3, Living Room
- Window features
- Window Treatments
- Patio and Porch features
- Patio
- Interior features
- Breakfast Bar
- Appliances
- Dishwasher, Dryer, Microwave, Refrigerator, Stove/Oven Electric, Washer
- Standard status
- Active
- APN
- 32050000000
- Size
- 2,088 SF
- Lot size
- 0.17 Acres
Taxes and HOA fees
- Tax Year
- 2025
- Tax Description
- BILTMORE BEACH 1ST ADD LOT 1 BLK F ORB 4552 P 508
- Tax Annual Amount
- 6029
Utilities
- Sewer type
- Septic Tank
- Heating system
- Central
- Cooling system
- Central Air
Building Details
- Year built
- 1981
- Floors in Building
- 2
- Flooring type
- Vinyl
- Architectural style
- Other
Listing Agency
EXP Realty LLC
(888) 883-8509
10752 Deerwood Park Blvd #100, Tampa, FL
Listed by
January M Johnson · License #3368469
(850) 691-9851
Added: Feb 27 Checked: Jul 17 at 8:06 am
MLS# 996455
Listing URL
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.
This duplex offers multiple possibilities, including living in one unit and renting the other, short-term renting both units, or short-term renting one unit and mid- or long-term renting the other. Side A, named Mystic Surf, features 3 bedrooms accommodating up to 8 guests with king beds and a twin/twin trundle, 1 full and 1 half bath, surf/wave murals in every bedroom, a full kitchen with ample counter space, a private patio, a storage shed, and an electric fireplace. Side B, named Mystic Sun, includes 2 bedrooms accommodating up to 4 guests with king beds, 1 full bath, a full kitchen, a private patio, a storage shed, and a wood-burning fireplace. The property is located across the street from public lagoon access, one block from a public boat ramp, and within walking distance of public beach access #11 (7 blocks away) and Buster's Beer and Bait. Schooner's and St Andrews State Park are a short drive away. The property size is 2088 square feet and the lot size is 0.17 acres.
Key Highlights
- Duplex built in 1981 with two private patios, separate storage sheds, and central heating and central air
- Unit A ("Mystic Surf") offers 3 bedrooms, 1 full bath and 1 half bath, plus a full kitchen with breakfast bar
- Unit A includes surf/wave murals in every bedroom and an electric fireplace in the living area
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $33.8k | $16.20 |
| − Vacancy | −$2.1k | −$1.00 |
| EGI | $31.7k | $15.20 |
| − OpEx | −$9.5k | −$4.56 |
| NOI | $22.2k | $10.64 |
2,088 SF · lease $16.20/SF/yr · vacancy 6.17% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$317.4K
$277.7K – $370.3K
NOI $22,217 @ 7.0% cap · market cap 3.44%
Second Best
Apartment 5plus
$290.8K
$254.5K – $339.3K
NOI $20,358 @ 7.0% cap · market cap 3.16%
Theoretical Best
Office A
$608.4K
$532.3K – $709.8K
NOI $42,586 @ 7.0% cap · market cap 6.60%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Duplexes
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FAQs
What type of property is this?
Duplex - Duplex with short-term rental potential near beach and lagoon.
Where is this duplex located?
The property is located at 3707 Mystic Street Panama City Beach, FL.
What is the asking price?
The asking price for this property is $645,000.
What are key features of this property?
This property features: Duplex built in 1981 with two private patios, separate storage sheds, and central heating and central air; Unit A ("Mystic Surf") offers 3 bedrooms, 1 full bath and 1 half bath, plus a full kitchen with breakfast bar; Unit A includes surf/wave murals in every bedroom and an electric fireplace in the living area
