Duplex with Separate
For Sale
$599,900
3707 Mystic Street A-B, Panama City Beach, FL 32408
Two distinct residences have individual entrances, parking areas, patios, and storage sheds.
Property Size2,269 SF
Price / SF$264.39
Days on Market23
Property Features for 3707 Mystic Street A-B
General Information
Standard status
Active
Size
2,269 SF
Property subtype
Duplex
Additional Details
Gross Income
$73,356
Multifamily Units
2
Currently Operating
Yes
Taxes and HOA fees
Annual Taxes
$6,028
Building Details
Building Size
2,269 SF
Year Built
1981
Buildings
1
Listing Agency:
Legacy Premier Agency
Listed By:
Nathan Lawrence · License #3107484
(850) 783-2302
Source:
Localinsightrealty
Added: Oct 5
Changed: Oct 26
Last Checked: Oct 26 at 2:59PM
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 Legacy Premier Agency
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Investment Insights
Based on property information with market context.
This 2269-square-foot duplex, built in 1981, is configured as two separate residences with private entrances, parking areas, patios, and storage sheds. Unit A has three king bedrooms plus a twin and trundle, a full kitchen, and an electric fireplace. Unit B offers two king suites, a full kitchen, and a wood-burning fireplace. Both units are operating as vacation rentals, and short-term rentals are allowed. There is no HOA.
The property is about half a mile from Gulf beach access #11 and one block from a public boat ramp. Grand Lagoon marinas and charter fleets are 1 to 2 miles away, while St. Andrews State Park is about 2 miles away. Schooners is approximately 1.5 miles from the property, and Pier Park is roughly 9 miles away.
The property is about half a mile from Gulf beach access #11 and one block from a public boat ramp. Grand Lagoon marinas and charter fleets are 1 to 2 miles away, while St. Andrews State Park is about 2 miles away. Schooners is approximately 1.5 miles from the property, and Pier Park is roughly 9 miles away.
Key Highlights
- Duplex contains 2269 square feet and was built in 1981
- Two residences, each with a private entrance, parking area, patio, and storage shed
- Unit A has three king bedrooms, a twin and trundle, a full kitchen, and an electric fireplace
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$24,143
Cap Rate
4.02%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$482,860
$482.9K
Cap Rate 7%
$344,900
$344.9K
Cap Rate 9%
$268,256
$268.3K
Market Conditions
NOI Build-Up for 2,269 SF
Gross rent
$36.8K $16.20/SF
− Vacancy
−$2.3K −$1.00/SF
EGI
$34.5K $15.20/SF
− OpEx
−$10.3K −$4.56/SF
NOI
$24.1K $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 Rate 5%
$482,860
Cap Rate 7%
$344,900
Cap Rate 9%
$268,256
Alternative Uses
Best Use
Multifamily LT 5
$344.9K
$301.8K – $402.4K
NOI $24,143 @ 7.0% cap · market cap 4.02%
Second Best
Apartment 5plus
$316.0K
$276.5K – $368.7K
NOI $22,123 @ 7.0% cap · market cap 3.69%
Theoretical Best
Office A
$661.1K
$578.5K – $771.3K
NOI $46,278 @ 7.0% cap · market cap 7.71%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
522
Businesses Nearby
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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
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Two distinct residences have individual entrances, parking areas, patios, and storage sheds.
Where is this duplex located?
The property is located at 3707 Mystic Street A-B Panama City Beach, FL.
What is the asking price?
The asking price for this property is $599,900.
What are key features of this property?
This property features: Duplex contains 2269 square feet and was built in 1981; Two residences, each with a private entrance, parking area, patio, and storage shed; Unit A has three king bedrooms, a twin and trundle, a full kitchen, and an electric fireplace
