Duplex with Covered
For Sale
$649,999
507 Scott Lane, Fort Walton Beach, FL 32547
Residential, Fort Walton Beach, FL
Property Size3,192 SF
Price / SF$203.63
Days on Market74
Property Features for 507 Scott Lane
General Information
Property type
Residential Multi Family
Property subtype
Other
Property condition
Under Construction
Zoning
County
Bedrooms
6
Bathrooms
5
Full bathrooms
4
Half bathrooms
2
Rooms
Bathroom 5, Bathroom 1, Bedroom 6, Bedroom 5, Bathroom 3, Bedroom 3, Bedroom 2, Bathroom 2, Bathroom 4, Living Room, Bedroom 1, Bathroom 6, Bedroom 4
Parking
8
Exterior features
Lawn Pump, Sprinkler System
Appliances
Dishwasher, Freezer, Microwave, Refrigerator, Refrigerator W/IceMk, Stove/Oven Electric, Water Heater - Elect
Elementary school
Wright
Middle school
Pryor
High school
Choctawhatchee
Directions
From Racetrack Rd. turn west on Denton. Go one block past Bob sikes blvd, turn right on Scott Ln.
Subdivision
12 - Fort Walton Beach
Standard status
Active
APN
02-2S-24-0060-000C-0030
Size
3,192 SF
Taxes and HOA fees
Tax Description
ANDERSON-BROOKS S/D LOT 3 BLK C (Note: The Description above is not to be used on legal documents.)
Legal Description
ANDERSON-BROOKS S/D LOT 3 BLK C (Note: The Description above is not to be used on legal documents.)
Utilities
Sewer type
Public Sewer
Cooling system
Central Air
Amenities
covered back porches
privacy fencing
well pump and irrigation system
Building Details
Year built
2026
Floors in Building
1
Building materials
Siding Vinyl
Architectural style
Other
Listing Agency:
Coldwell Banker Realty · Coldwell Banker Real Estate
(850) 863-4563
Listed By:
Olivia A Wolff PLLC · License #3591104
(850) 865-3533
Added: Jul 27
Changed: Oct 1
Last Checked: Oct 8 at 4:06AM
MLS# 1008563
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 3,192-square-foot duplex is under construction and contains two residences. Each unit is configured with 3 bedrooms, 2.5 bathrooms, a 2-car garage, and 9-foot ceilings. Interior finishes include luxury vinyl plank flooring, quartz countertops, soft-close cabinetry, and a primary suite. Central air is included, and the property is served by public sewer.
Each residence has a large covered back porch and its own privacy fence, with an additional fence dividing the two sides. A well pump and irrigation system serve the exterior. The property is zoned County and has a 2026 year built designation.
Each residence has a large covered back porch and its own privacy fence, with an additional fence dividing the two sides. A well pump and irrigation system serve the exterior. The property is zoned County and has a 2026 year built designation.
Key Highlights
- Two‑unit duplex totaling 3,192 square feet
- Each unit has 3 bedrooms, 2.5 bathrooms, and a 2‑car garage
- 9‑foot ceilings, luxury vinyl plank flooring, quartz countertops, and soft‑close cabinetry
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$36,740
Cap Rate
5.65%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$734,800
$734.8K
Cap Rate 7%
$524,857
$524.9K
Cap Rate 9%
$408,222
$408.2K
Market Conditions
NOI Build-Up for 3,192 SF
Gross rent
$55.5K $17.40/SF
− Vacancy
−$3.1K −$0.96/SF
EGI
$52.5K $16.44/SF
− OpEx
−$15.7K −$4.93/SF
NOI
$36.7K $11.51/SF
Area
Okaloosa County, FL
Vacancy
5.50%
Lease Rate
$17.40 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$734,800
Cap Rate 7%
$524,857
Cap Rate 9%
$408,222
Alternative Uses
Best Use
Multifamily LT 5
$524.9K
$459.3K – $612.3K
NOI $36,740 @ 7.0% cap · market cap 5.65%
Second Best
Apartment 5plus
$471.8K
$412.8K – $550.4K
NOI $33,023 @ 7.0% cap · market cap 5.08%
Theoretical Best
Specialty Retail
$1.23M
$1.08M – $1.44M
NOI $86,106 @ 7.0% cap · market cap 13.25%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
953
Businesses Nearby
Explore this area
Business Placement
Demographics for 32547, FL
35,466
Population
16,112
Households
2.2
Avg Household Size
37
Median Age
28%
College-Educated
89%
High-School Grad
29.0 sq mi
ZIP Area
1,223
Density / Sq Mi
$67,822
Median Household Income
$36,465
Median Earnings
$1,421
Median Rent
$299,400
Median Home Value
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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 - Each residence has a private garage, fenced outdoor space, and a covered rear porch.
Where is this duplex located?
The property is located at 507 Scott Lane Fort Walton Beach, FL.
What is the asking price?
The asking price for this property is $649,999.
What are key features of this property?
This property features: Two‑unit duplex totaling 3,192 square feet; Each unit has 3 bedrooms, 2.5 bathrooms, and a 2‑car garage; 9‑foot ceilings, luxury vinyl plank flooring, quartz countertops, and soft‑close cabinetry
