Upgraded Duplex with Rental
3707 MYSTIC STREET A&B Panama City, FL 32408
3707 MYSTIC STREET A&B, Panama City, FL, 32408
$714,995
For Sale
$714,995
Adorable, upgraded duplex near lagoon and beach access.
Property Size2,088 SF
Price / SF$342.43
Days on Market533
Property Features for 3707 MYSTIC STREET A&B
General Information
- Standard status
- Active
- Size
- 2,088 SF
- Property subtype
- Multi Family
Building Details
- Year Built
- 1981
Listing Agency
EXP REALTY LLC
(850) 691-9851
Listed by
January Johnson · License #3368469
(850) 691-9851
Source
Exitrealty
Added: Jan 30, 2025 Checked: Jul 17 at 4:17 am
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of EXP REALTY LLC
Investment Insights
Based on property information with market context.
This upgraded duplex offers multiple possibilities, including living in one side and renting the other, short-term renting both units, or short-term renting one side and mid- or long-term renting the other. Side A, named Mystic Surf, features three bedrooms with surf and wave murals, accommodating up to eight guests with king beds and a twin/twin trundle. It includes a full and a half bath, a full kitchen with ample counter space, a private patio, a storage shed, and an electric fireplace. Side B, named Mystic Sun, offers two king-bedroom suites accommodating up to four guests, 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 and one block from a public boat ramp. Public beach access #11 is just seven blocks away, and Buster's Beer and Bait is within walking distance. Schooner's and St Andrews State Park are a short drive away. The property offers 2088 square feet of living space.
Key Highlights
- Duplex offers multiple rental income possibilities (short‑term, long‑term, or a combination).
- Located across the street from public lagoon access and one block from a public boat ramp.
- Walking distance to public beach access #11 (7 blocks).
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 | $42.6k | $20.40 |
| − Vacancy | −$6.5k | −$3.12 |
| EGI | $36.1k | $17.28 |
| − OpEx | −$10.8k | −$5.18 |
| NOI | $25.3k | $12.10 |
2,088 SF · lease $20.40/SF/yr · vacancy 15.29% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$360.8K
$315.7K – $421.0K
NOI $25,258 @ 7.0% cap · market cap 3.53%
Second Best
Apartment 5plus
$330.3K
$289.1K – $385.4K
NOI $23,124 @ 7.0% cap · market cap 3.23%
Theoretical Best
Office A
$525.1K
$459.5K – $612.6K
NOI $36,757 @ 7.0% cap · market cap 5.14%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Duplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Duplex - Adorable, upgraded duplex near lagoon and beach access.
Where is this duplex located?
The property is located at 3707 MYSTIC STREET A&B Panama City, FL.
What is the asking price?
The asking price for this property is $714,995.
What are key features of this property?
This property features: Duplex offers multiple rental income possibilities (short‑term, long‑term, or a combination).; Located across the street from public lagoon access and one block from a public boat ramp.; Walking distance to public beach access #11 (7 blocks).
