Two-Unit Duplex Near
For Sale
$475,000
2432 Valley Oak Court A&B, Panama City Beach, FL 32408
Residential, Panama City Beach, FL
Property Size2,196 SF
Price / SF$216.30
Days on Market263
Property Features for 2432 Valley Oak Court A&B
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
Resid Multi-Family
Bedrooms
4
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 4, Bathroom 3, Bathroom 4, Bathroom 2, Bathroom 1, Bedroom 3, Bedroom 1, Bedroom 2
Appliances
Dishwasher, Microwave, Stove/Oven Electric, Water Heater - Elect
Subdivision
NORTH LAGOON OAKS
Elementary school
Patronis
Middle school
Surfside
High school
Arnold
Directions
Heading South on Thomas Drive, turn right onto Summer Oak Drive. Make a right onto Grand Oaks Lane and then make a left on Valley Oak Court. Duplex will be on the left.
Standard status
Active
APN
30167-808-000
Size
2,196 SF
Taxes and HOA fees
Tax Year
2025
Tax Description
NORTH LAGOON OAKS 7TH ADD. LOT 2 BLK D ORB 4713 P 2049
Tax Annual Amount
5685
Legal Description
NORTH LAGOON OAKS 7TH ADD. LOT 2 BLK D ORB 4713 P 2049
Utilities
Sewer type
Septic Tank
Cooling system
Central Air
Building Details
Year built
2019
Floors in Building
1
Architectural style
Other
Listing Agency:
EXP Realty LLC
(888) 883-8509
Listed By:
Bubba McCants · License #3062634
(850) 624-8433
Added: Dec 18, 2025
Changed: Sep 5
Last Checked: Sep 7 at 9:06AM
MLS# 991465
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.
This 2,196-square-foot duplex was built in 2019 and contains two residences, each with two bedrooms and two bathrooms. Unit A and Unit B are both occupied. Separate power and water meters support independent utility service for each unit, while central air conditioning, electric water heaters, dishwashers, microwaves, and electric stoves/ovens are included. The property uses a septic tank system and carries Resid Multi-Family zoning.
Located on North Lagoon in Panama City Beach, the property is approximately a two-minute drive from the beaches and about 15 minutes from Pier Park, which offers shopping, dining, and entertainment. Its two-unit configuration, current occupancy, and separate utility metering provide a practical setup for residential income use or owner occupancy.
Located on North Lagoon in Panama City Beach, the property is approximately a two-minute drive from the beaches and about 15 minutes from Pier Park, which offers shopping, dining, and entertainment. Its two-unit configuration, current occupancy, and separate utility metering provide a practical setup for residential income use or owner occupancy.
Key Highlights
- 2,196‑square‑foot duplex built in 2019
- Two units, each with 2 bedrooms and 2 bathrooms
- Both Unit A and Unit B are currently occupied
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
$23,366
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
4.92%
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%
$467,320
$467.3K
Cap Rate 7%
$333,800
$333.8K
Cap Rate 9%
$259,622
$259.6K
Market Conditions
NOI Build-Up for 2,196 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
$35.6K $16.20/SF
− Vacancy
−$2.2K −$1.00/SF
EGI
$33.4K $15.20/SF
− OpEx
−$10.0K −$4.56/SF
NOI
$23.4K $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%
$467,320
Cap Rate 7%
$333,800
Cap Rate 9%
$259,622
Alternative Uses
Best Use
Multifamily LT 5
$333.8K
$292.1K – $389.4K
NOI $23,366 @ 7.0% cap · market cap 4.92%
Second Best
Apartment 5plus
$305.9K
$267.6K – $356.9K
NOI $21,411 @ 7.0% cap · market cap 4.51%
Theoretical Best
Office A
$639.8K
$559.9K – $746.5K
NOI $44,789 @ 7.0% cap · market cap 9.43%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
378
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 - Occupied duplex with separately metered utilities and a two-bedroom, two-bath layout in each residence.
Where is this duplex located?
The property is located at 2432 Valley Oak Court A&B Panama City Beach, FL.
What is the asking price?
The asking price for this property is $475,000.
What are key features of this property?
This property features: 2,196‑square‑foot duplex built in 2019; Two units, each with 2 bedrooms and 2 bathrooms; Both Unit A and Unit B are currently occupied
