Furnished Duplex with Private
For Sale
$979,000
2311/2313 Anne Ave, Panama City Beach, FL 32408
Two separately fenced residences feature covered porches, private garages, and furnished interiors.
Property Size3,452 SF
Price / SF$283.60
Days on Market13
Property Features for 2311/2313 Anne Ave
General Information
Standard status
Active
Size
3,452 SF
Total Parking Spaces
2
Property subtype
Multi-Family
Units
Multifamily Units
2
Parking per Unit
1
Additional Details
Furnished
Yes
Gross Income
$86,000
Amenities
fenced backyard
covered porch
private garage
in-ground sprinkler system
Building Details
Year Built
2021
Buildings
1
Listing Agency:
Keller Williams Realty Fwb
(850) 225-9899
Listed By:
Delawalla Group
(850) 225-9899
Source:
Bestofemeraldcoast
Added: Aug 20
Changed: Aug 31
Last Checked: Aug 31 at 2:45PM
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 Keller Williams Realty Fwb
Investment Insights
Based on property information with market context.
Built in 2021, this furnished duplex contains two independently configured residences with private, covered porches and separately fenced backyards. Each side includes its own private garage, providing dedicated vehicle storage for the respective residence. An in-ground sprinkler system serves the property, while the oversized lot offers room for a pool or future expansion. The building encompasses 3,452 square feet and is positioned at 2311/2313 Anne Ave in Panama City Beach, on the east end of the beach community. The property is identified as a short-term rental and is offered as a duplex investment asset.
Key Highlights
- Furnished duplex built in 2021
- 3,452 square feet
- Short‑term rental property on the east end of Panama City Beach
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$36,730
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.75%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$734,600
$734.6K
Cap Rate 7%
$524,714
$524.7K
Cap Rate 9%
$408,111
$408.1K
Market Conditions
NOI Build-Up for 3,452 SF
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.
Gross rent
$55.9K $16.20/SF
− Vacancy
−$3.5K −$1.00/SF
EGI
$52.5K $15.20/SF
− OpEx
−$15.7K −$4.56/SF
NOI
$36.7K $10.64/SF
Area
Bay County, FL
Vacancy
6.17%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$734,600
Cap Rate 7%
$524,714
Cap Rate 9%
$408,111
Alternative Uses
Best Use
Multifamily LT 5
$524.7K
$459.1K – $612.2K
NOI $36,730 @ 7.0% cap · market cap 3.75%
Second Best
Apartment 5plus
$480.8K
$420.7K – $561.0K
NOI $33,658 @ 7.0% cap · market cap 3.44%
Theoretical Best
Office A
$1.01M
$880.1K – $1.17M
NOI $70,406 @ 7.0% cap · market cap 7.19%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
526
Businesses Nearby
Explore this area
Business Placement
Demographics for 32408, FL
17,479
Population
17,018
Households
1
Avg Household Size
48
Median Age
39%
College-Educated
96%
High-School Grad
8.6 sq mi
ZIP Area
2,032
Density / Sq Mi
$72,322
Median Household Income
$42,749
Median Earnings
$1,453
Median Rent
$352,400
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Two separately fenced residences feature covered porches, private garages, and furnished interiors.
Where is this duplex located?
The property is located at 2311/2313 Anne Ave Panama City Beach, FL.
What is the asking price?
The asking price for this property is $979,000.
What are key features of this property?
This property features: Furnished duplex built in 2021; 3,452 square feet; Short‑term rental property on the east end of Panama City Beach
