Furnished Duplex with Private
For Sale
$949,000
2311/2313 Anne Avenue, Panama City Beach, FL 32408
Residential, Panama City Beach, FL
Property Size3,452 SF
Price / SF$274.91
Days on Market47
Property Features for 2311/2313 Anne Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
6
Bathrooms
5
Full bathrooms
4
Half bathrooms
2
Rooms
Bedroom 4, Bedroom 2, Bathroom 2, Bathroom 3, Bathroom 6, Bathroom 4, Bedroom 3, Bathroom 5, Bedroom 6, Bedroom 5, Bathroom 1, Bedroom 1
Parking
14
Parking features
Garage
Subdivision
PINES 4TH ADDN
Elementary school
Breakfast Point
Middle school
Breakfast Point
High school
Arnold
Directions
From Hathaway Bridge - head west on US-98 - Stay left towards Front Beach Road - Turn Left onto Laurie Ave - Turn Right onto Laird St - Turn left onto Anne Ave.
Standard status
Active
APN
27791-020-000
Size
3,452 SF
Taxes and HOA fees
Tax Year
2025
Tax Description
PINES 4TH ADD PT OF LOT 5 BLK C DESC AS: BEG NE COR LOT 5 TH S 75' W 130.167' N 75.28' E 129.94' TO POB SUBJ TO ESMT ORB 4334 P 2150 PINES 4TH ADD PT OF LOT 5 BLK C DESC AS: COM NE COR TH W 129.94' FOR POB TH S 75.28' W 59.976' N 75' E 60.097' TO POB TOGETHER W 20' ING/EGR ESMT ORB 4334 P 2150
Tax Annual Amount
7234
Legal Description
PINES 4TH ADD PT OF LOT 5 BLK C DESC AS: BEG NE COR LOT 5 TH S 75' W 130.167' N 75.28' E 129.94' TO POB SUBJ TO ESMT ORB 4334 P 2150 PINES 4TH ADD PT OF LOT 5 BLK C DESC AS: COM NE COR TH W 129.94' FOR POB TH S 75.28' W 59.976' N 75' E 60.097' TO POB TOGETHER W 20' ING/EGR ESMT ORB 4334 P 2150
Utilities
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air
Amenities
fenced backyards
covered porches
in-ground sprinkler system
Building Details
Year built
2021
Architectural style
Other
Listing Agency:
Corcoran Reverie SRB
(850) 231-5030
Listed By:
Kavin Kuykendall · License #3493828
(509) 301-7838
Added: Aug 18
Changed: Oct 1
Last Checked: Oct 3 at 7:06AM
MLS# 1010084
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.
Investment Insights
Based on property information with market context.
Built in 2021, this 3,452-square-foot duplex is furnished and configured for short-term rental use. Each unit includes a privately fenced backyard, a covered porch, and a private garage. Central heating and central air conditioning serve the residences, while public sewer supports the property.
The property also includes an in-ground sprinkler system and an oversized lot with space identified for a pool or future expansion. Located at 2311/2313 Anne Avenue in Panama City Beach, the asset offers a defined two-unit layout with separate outdoor areas and garage access for each residence.
The property also includes an in-ground sprinkler system and an oversized lot with space identified for a pool or future expansion. Located at 2311/2313 Anne Avenue in Panama City Beach, the asset offers a defined two-unit layout with separate outdoor areas and garage access for each residence.
Key Highlights
- 3,452‑square‑foot duplex built in 2021
- Furnished short‑term rental configuration
- Private fenced backyard, covered porch, and garage for each unit
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
3.87%
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 3.87%
Second Best
Apartment 5plus
$480.8K
$420.7K – $561.0K
NOI $33,658 @ 7.0% cap · market cap 3.55%
Theoretical Best
Office A
$1.01M
$880.1K – $1.17M
NOI $70,406 @ 7.0% cap · market cap 7.42%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open 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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Duplex - Two-unit short-term rental property with enclosed outdoor areas and covered porches for each residence.
Where is this duplex located?
The property is located at 2311/2313 Anne Avenue Panama City Beach, FL.
What is the asking price?
The asking price for this property is $949,000.
What are key features of this property?
This property features: 3,452‑square‑foot duplex built in 2021; Furnished short‑term rental configuration; Private fenced backyard, covered porch, and garage for each unit
