Adorable Duplex with Multiple
3707 Mystic Street Panama City Beach, FL 32408
For Sale
$645,000
MULTI_FAMILY - Other - Panama City Beach, FL
Property Size2,088 SF
Lot Size0.17 Acres
Price / SF$308.91
Days on Market153
Property Features for 3707 Mystic Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
Resid Multi-Family
Bedrooms
5
Bathrooms
3
Rooms
Bedroom 3, Bedroom 5, Bathroom 1, Bedroom 4, Bedroom 2, Living Room, Bedroom 1, Bathroom 2, Bathroom 3
Window features
Window Treatments
Patio and Porch features
Patio
Interior features
Breakfast Bar
Appliances
Dishwasher, Dryer, Microwave, Refrigerator, Stove/Oven Electric, Washer
Standard status
Active
APN
32050000000
Size
2,088 SF
Lot size
0.17 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
BILTMORE BEACH 1ST ADD LOT 1 BLK F ORB 4552 P 508
Tax Annual Amount
6029
Utilities
Sewer type
Septic Tank
Heating system
Central
Cooling system
Central Air
Building Details
Year built
1981
Floors in Building
2
Flooring type
Vinyl
Architectural style
Other
Listing Agency:
EXP Realty LLC
(888) 883-8509
Listed By:
January M Johnson · License #3368469
(850) 691-9851
Added: Feb 27
Changed: Jul 24
Last Checked: Jul 30 at 1:06AM
MLS# 996455
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 duplex offers multiple possibilities, including living in one unit and renting the other, short-term renting both units, or short-term renting one unit and mid- or long-term renting the other. Side A, named Mystic Surf, features 3 bedrooms accommodating up to 8 guests with king beds and a twin/twin trundle, 1 full and 1 half bath, surf/wave murals in every bedroom, a full kitchen with ample counter space, a private patio, a storage shed, and an electric fireplace. Side B, named Mystic Sun, includes 2 bedrooms accommodating up to 4 guests with king beds, 1 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, one block from a public boat ramp, and within walking distance of public beach access #11 (7 blocks away) and Buster's Beer and Bait. Schooner's and St Andrews State Park are a short drive away. The property size is 2088 square feet and the lot size is 0.17 acres.
Key Highlights
- Duplex built in 1981 with two private patios, separate storage sheds, and central heating and central air
- Unit A ("Mystic Surf") offers 3 bedrooms, 1 full bath and 1 half bath, plus a full kitchen with breakfast bar
- Unit A includes surf/wave murals in every bedroom and an electric fireplace in the living area
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 | $33.8k | $16.20 |
| − Vacancy | −$2.1k | −$1.00 |
| EGI | $31.7k | $15.20 |
| − OpEx | −$9.5k | −$4.56 |
| NOI | $22.2k | $10.64 |
2,088 SF · lease $16.20/SF/yr · vacancy 6.17% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$317.4K
$277.7K – $370.3K
NOI $22,217 @ 7.0% cap · market cap 3.44%
Second Best
Apartment 5plus
$290.8K
$254.5K – $339.3K
NOI $20,358 @ 7.0% cap · market cap 3.16%
Theoretical Best
Office A
$608.4K
$532.3K – $709.8K
NOI $42,586 @ 7.0% cap · market cap 6.60%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Duplex - Duplex with short-term rental potential near beach and lagoon.
Where is this duplex located?
The property is located at 3707 Mystic Street Panama City Beach, FL.
What is the asking price?
The asking price for this property is $645,000.
What are key features of this property?
This property features: Duplex built in 1981 with two private patios, separate storage sheds, and central heating and central air; Unit A ("Mystic Surf") offers 3 bedrooms, 1 full bath and 1 half bath, plus a full kitchen with breakfast bar; Unit A includes surf/wave murals in every bedroom and an electric fireplace in the living area
