Duplex with Two-Unit Income
7931 S Lagoon Drive Panama City, FL 32408
For Sale
$315,000
Pending
MULTI_FAMILY - Other - Panama City, FL
Property Size1,860 SF
Lot Size0.11 Acres
Days on Market49
Property Features for 7931 S Lagoon Drive
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
4
Bathrooms
3
Rooms
Bedroom 3, Bedroom 1, Bathroom 3, Bedroom 4, Bathroom 2, Bathroom 1, Bedroom 2
Parking features
Paved or Surfaced, Parking Lot
Interior features
MainLevelPrimary, TubShower
Appliances
ElectricCooktop, ElectricOven, ElectricWaterHeater
Standard status
Pending
APN
30196-540-000
Size
1,860 SF
Lot size
0.11 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
SILVER SANDS UNIT 2 LOT 14 BLK F ORB 1943 P 1887 ORB 2500 P 538
Tax Annual Amount
2670
Utilities
Sewer type
Public Sewer
Heating system
Electric (Heating)
Cooling system
Multi Units, Central Air
Building Details
Year built
1975
Floors in Building
1
Number of units
2
Building materials
Block
Architectural style
Other
Listing Agency:
Beachy Beach Real Estate
(850) 233-4351
Listed By:
Barbara A Wade · License #BK3425752
(505) 903-9061
Added: Jun 10
Changed: Jul 17
Last Checked: Jul 28 at 2:06AM
MLS# 791135
Copyright © 2026 Central Panhandle 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.
Currently under contract, seller will consider backup offers on this duplex positioned between the Gulf of Mexico and Grand Lagoon.
The property includes two units with a combined four bedrooms and three bathrooms, configured as (2/2) and (2/1). The total size is approximately 1,868 square feet on a lot size of about 0.11 acres. The roof was replaced approximately five years ago.
Located in Panama City Beach’s South Lagoon area, the property is described as being near beaches, marinas, Rick Selzer Park, a boat ramp, restaurants, and entertainment. The listing indicates the home is being offered at appraised value determined by an appraiser in May 2026, based on the property’s current condition and a contractor estimate for needed repairs. Appraisal and repair-related information is available upon request.
The property includes two units with a combined four bedrooms and three bathrooms, configured as (2/2) and (2/1). The total size is approximately 1,868 square feet on a lot size of about 0.11 acres. The roof was replaced approximately five years ago.
Located in Panama City Beach’s South Lagoon area, the property is described as being near beaches, marinas, Rick Selzer Park, a boat ramp, restaurants, and entertainment. The listing indicates the home is being offered at appraised value determined by an appraiser in May 2026, based on the property’s current condition and a contractor estimate for needed repairs. Appraisal and repair-related information is available upon request.
Key Highlights
- Duplex with 2 units offering a combined 4 bedrooms and 3 bathrooms (2/2 & 2/1)
- Approximately 1,868 sq ft total living area
- Block construction; year built 1975
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 | $37.9k | $20.40 |
| − Vacancy | −$5.8k | −$3.12 |
| EGI | $32.1k | $17.28 |
| − OpEx | −$9.6k | −$5.18 |
| NOI | $22.5k | $12.10 |
1,860 SF · lease $20.40/SF/yr · vacancy 15.29% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$321.4K
$281.3K – $375.0K
NOI $22,500 @ 7.0% cap · market cap 7.14%
Second Best
Apartment 5plus
$294.3K
$257.5K – $343.3K
NOI $20,599 @ 7.0% cap · market cap 6.54%
Theoretical Best
Office A
$467.8K
$409.3K – $545.7K
NOI $32,743 @ 7.0% cap · market cap 10.39%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Duplex - Duplex with two units totaling four bedrooms and three bathrooms, with a roof replaced about five years ago.
Where is this duplex located?
The property is located at 7931 S Lagoon Drive Panama City, FL.
What is the asking price?
The asking price for this property is $315,000.
What are key features of this property?
This property features: Duplex with 2 units offering a combined 4 bedrooms and 3 bathrooms (2/2 & 2/1); Approximately 1,868 sq ft total living area; Block construction; year built 1975
