New Duplex Under
507 Scott Lane Fort Walton Beach, FL 32547
New
For Sale
$650,000
MULTI_FAMILY - Other - Fort Walton Beach, FL
Property Size3,192 SF
Price / SF$203.63
Days on Market2
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
Rooms
Bedroom 2, Bathroom 4, Bedroom 4, Bedroom 3, Bathroom 6, Bathroom 3, Bathroom 5, Bedroom 1, Bathroom 2, Bedroom 6, Bedroom 5, Bathroom 1, Living Room
Parking
8
Exterior features
Lawn Pump, Sprinkler System
Appliances
Dishwasher, Freezer, Microwave, Refrigerator, Refrigerator W/IceMk, Stove/Oven Electric, Water Heater - Elect
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.)
Utilities
Sewer type
Public Sewer
Cooling system
Central Air
Building Details
Year built
2026
Floors in Building
1
Building materials
Siding Vinyl
Architectural style
Other
Listing Agency:
Coldwell Banker Realty
(850) 863-4563
Listed By:
Olivia A Wolff PLLC · License #3591104
(850) 865-3533
Added: Jul 27
Changed: Jul 28
Last Checked: Jul 28 at 5:06PM
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 new duplex is currently under construction and will include two separate units. Each unit is designed with three bedrooms and 2.5 bathrooms, along with a two-car garage and 9-foot ceilings. Planned interior features include luxury vinyl plank flooring, quartz countertops, and soft-close cabinetry, plus a spacious primary suite. Exterior elements include large covered back porches, privacy fencing for each unit, and a fence separating the two sides, with a well pump and irrigation system.
The property is located at 507 Scott Lane in Fort Walton Beach, Florida, in Okaloosa County. The listing is identified with County zoning.
For practical configuration, the duplex will function as two independent residential units within one building footprint, each with private outdoor space and its own fenced yard area.
The property is located at 507 Scott Lane in Fort Walton Beach, Florida, in Okaloosa County. The listing is identified with County zoning.
For practical configuration, the duplex will function as two independent residential units within one building footprint, each with private outdoor space and its own fenced yard area.
Key Highlights
- Brand new duplex under construction (2026) with two units, each offering 3 bedrooms and 2.5 bathrooms
- Two 2‑car garages (one per unit) and 9‑foot ceilings throughout
- Each unit includes central air and electric stove/oven, microwave, refrigerator with ice maker, dishwasher, freezer, and electric water heater
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 | $55.5k | $17.40 |
| − Vacancy | −$3.1k | −$0.96 |
| EGI | $52.5k | $16.44 |
| − OpEx | −$15.7k | −$4.93 |
| NOI | $36.7k | $11.51 |
3,192 SF · lease $17.40/SF/yr · vacancy 5.50% · expense 30.00%
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
Property Profile
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Duplex - Duplex under construction with two units, each featuring 3 bedrooms, 2.5 baths, and a 2-car garage.
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 $650,000.
What are key features of this property?
This property features: Brand new duplex under construction (2026) with two units, each offering 3 bedrooms and 2.5 bathrooms; Two 2‑car garages (one per unit) and 9‑foot ceilings throughout; Each unit includes central air and electric stove/oven, microwave, refrigerator with ice maker, dishwasher, freezer, and electric water heater
