1408 Clay Avenue, Panama City, FL 32401
Entire duplex offers two furnished 2-bedroom, 1-bath units, currently used as a short-term rental by the seller.
- Added:
- May 15, 2024
- Days on Market:
- 761
- Last Refresh:
- Jun 13 at 3:45 am
Property Features for 1408 Clay Avenue
General Information
- Standard status
- Active
- Size
- 1,610 SF
- Property subtype
- Multi Family
Building Details
- Year Built
- 1977
Listing agent Katy Pinson License #BK3338177 (980) 395-0632
Listing office Beach Babes Realty LLC (980) 395-0632
Listing date May 15, 2024
Source Exitrealty
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 Beach Babes Realty LLC
HighLights
- Duplex built in 1977 offering two separate furnished units.
- Each side features 2 bedrooms and 1 bathroom.
- Seller‑reported STR rental income of $49,000 in 2022.
- Seller‑reported STR rental income of $32,000 in 2023.
- Includes opportunity to live in one unit and rent the other, or use as an investment property.
- Owner financing considered; buyer to verify all information deemed important.
Overview
Located at 1408 Clay Avenue in the St. Andrews area, the property is presented as a turnkey option for buyers who want both units under one roof. Please do not disturb guests. Buyer to verify all information deemed important.
The duplex configuration supports a practical live-in-and-rent plan, with the option to occupy one side while leasing the other, or to continue operating both units as short-term rentals. Because the listing is for the complete building, buyers can plan their strategy around full-property control rather than coordinating across multiple owners. Owner financing is also being considered, subject to terms and approval.
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 | $32.8k | $20.40 |
| − Vacancy | −$5.0k | −$3.12 |
| EGI | $27.8k | $17.28 |
| − OpEx | −$8.3k | −$5.18 |
| NOI | $19.5k | $12.10 |
Alternative Uses
Current Use by Public Records
Location Insight
- Map
- Local Demand
- City
- Panama City
- County
- Walton
- State
- Florida
- Longitude
- -85.6928716
- Latitude
- 30.1745066
