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    3707 Mystic St, Unit unit A & B Panama City Beach, FL 32408

    Sponsored
    For Sale
    $649,000

    MULTI_FAMILY - Other - Panama City Beach, FL

    Property size:
    2,088 SF
    Lot size:
    0.17 Acres
    Days on Market:
    2
    Last Refresh:
    Feb 28 at 1:06 am

    Property Features for 3707 Mystic St

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Standard status
    Active
    Window features
    Window Treatments
    Zoning
    Resid Multi-Family
    Rooms
    Living Room, Bathroom 1, Bedroom 5, Bathroom 2, Bedroom 1, Bedroom 4, Bedroom 3, Bathroom 3, Bedroom 2
    Bedrooms
    5
    Bathrooms
    2
    APN
    32050000000
    Patio and Porch features
    Patio
    Interior features
    Breakfast Bar
    Appliances
    Dishwasher, Dryer, Microwave, Refrigerator, Stove/Oven Electric, Washer
    Size
    2,088 SF
    Lot size
    0.17 Acres

    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

    We can help!

    Listing Contact
    January M Johnson

    EXP REALTY LLC (888) 883-8509

    Listing agent January M Johnson (850) 691-9851 License #3368469

    Listing date Feb 27, 2026

    MLS# 996455

    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.

    Learn more

    Property Insight Report

    Overview

    Adorable Duplex with Multiple Possibilities

    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 in two rooms and a king plus twin/twin trundle in the third. It includes one full and one-half bath, surf/wave murals in each bedroom, a full kitchen with ample counter space, a private patio, a storage shed, and an electric fireplace. Side B, named Mystic Sun, offers 2 bedrooms accommodating up to 4 guests with king beds in both rooms, a 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, approximately 7 blocks away. It is also within walking distance of Buster's Beer and Bait and a short drive to Schooner's and St Andrews State Park. The property size is 2088 square feet and the lot size is 0.17 acres.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

    Law Firm Restaurant Real Estate Agency Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Panama City Beach
    County
    Bay
    State
    Florida
    Longitude
    -85.756379
    Latitude
    30.149236

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    FAQs

    What type of property is this?
    Duplex - Duplex with short-term rental potential near beach and lagoon access.
    Where is this duplex located?
    The property is located at 3707 Mystic St, Unit unit A & B Panama City Beach, FL.
    What is the asking price?
    The asking price for this property is $649,000.
    What are key features of this property?
    This property features: - Duplex offers multiple rental income possibilities (short-term, long-term, or a combination).; - **Excellent location: across the street from lagoon access, one block to boat ramp, and a short walk to the beach.**; - **Two separate units: Side A (3BR/2 Bath, sleeps 8) and Side B (2BR/1 Bath, sleeps 4), each with a full kitchen and private patio.**
    (850) 691-9851
    Request Owner's contact information
    3707 Mystic St, Unit unit A & B Panama City Beach, FL 32408
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    Panama City Beach, FL 32408
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    3707 Mystic St, Unit unit A & B Panama City Beach, FL 32408
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    We can help!
    Listing Contact
    January M Johnson
    Real Estate License ID: 3368469
    (850) 691-9851 (877) 578-7245
    Learn more
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