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3707 Mystic Street #A-B

Panama City Beach, FL 32408

$599,900 $2,529/Mo

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Overview

Bed

Bath

0.13

Acre(Lot)

Description

Picture this: it's 7 a.m., coffee in hand, and you're strolling across the street to watch the sun come up over the Grand Lagoon. Your boat is in the water from the public ramp one block away before the charter crowd wakes up. By lunch you're toes-in-the-sand at Gulf beach access #11, about half a mile from your door. By sunset you're on the deck at Schooners, about 1.5 miles away. And while you're living the dream, two homes are quietly working for you. That's what 3707 Mystic Street is: a beach lifestyle that pays its own way. This duplex lives like two separate homes, with two private entries, two separate parking areas and each unit's own patio, so neighbors and guests never feel like they're sharing. Mystic Surf (Unit A) is the guest favorite, with three king bedrooms plus a twin a nd trundle that sleep eight, surf murals in every bedroom, a kitchen big enough for the whole crew, a cozy electric fireplace and a storage shed for the kayaks and paddleboards. Mystic Sun (Unit B) is the hideaway, with two king suites, a full kitchen, a real wood-burning fireplace for those cool December nights and its own shed. For the second-home buyer, this is the beach house that doesn't sit empty. Keep one side as your private getaway, with its own entry, parking and patio. Rent the other side to guests and let them help cover your costs. Come down whenever you want, lock the door when you leave, and let the income keep rolling in. For the investor, this is two income streams on one turnkey property that's already operating as a vacation rental. There's no HOA and nothing to fix, short-term rentals are allowed, and you have the flexibility to run each unit however the market tells you to. For the buyer hunting for multifamily close to the beach, this is the one that's hard to find. Small multifamily properties this close to both the Gulf and the lagoon rarely come up, especially with true separation between units, a corner lot and room to grow. There's space for boat parking, so your boat lives right at home one block from the ramp. There's also room to add a hot tub, the kind of upgrade guests search for and happily pay more for. Everything worth doing is close. The Grand Lagoon marinas and charter fleets are 1 to 2 miles away. The trails and snorkeling at St. Andrews State Park are about 2 miles away. A cold one at Buster's Beer & Bait is an easy walk, and Pier Park is roughly 9 miles away. Now let's talk numbers. Both units have produced 2026 - $74,996 Gross and 2025 - $73,356 Gross There's no HOA fee eating into your returns, and both units are already up and running, so there's no setup period and no waiting for your first booking. Keep both on the short-term market for maximum income, or put one side on a mid- or long-term lease for steady, predictable cash flow. Adding a hot tub or capturing boat-friendly guests could push those numbers even higher.

Property Details

Property Type : Residential

Price : $599,900

AD Id : 91679518

MLS Id : 796274

Beds : 5

Lot Size : 0.13 Acre

Tax Amount : $6,028.48

Year Built : 1981

County : Bay

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Features

Bedroom Information

Total beds: 5

Bathroom Information

Total Baths: 3 Full Baths: 2 Half Baths: 1

Room Information

Rooms Total: 5

Roofing Information

Metal, Other
Interior Features

MainLevelPrimary

Roof: Metal, Other
Heating & Cooling

Has Cooling: Yes Cooling: CentralAir, CeilingFans

Building Information

Year Built: 1981

Building Area Total: 2269

Private Pool: No

Lot Information

Lot Dimensions: 58x100 Main Square Feet: 0.13 Lot Size Acres: 0.13 Lot Size Square Feet: 5,663

Property Information

Subdivision: Biltmore Beach Source Property Type: Residential MLS Area Minor: 0323 - Beach - South of Grand Lagoon Zoning Description: Resid Multi-Family Property SubType: Duplex Property Age: 45

Listing Price Information

Listing Price: $599900

Tax Information

Parcel Number: 32050-000-000 Tax Year: 2025 Annual Tax: $6028.48 Tax Legal Desc: BILTMORE BEACH 1ST ADD LOT 1 BLK F ORB 4552 P 508

School Information

Elementary School: Patronis Junior High School: Surfside Senior High School: Arnold
Location Information

Direction: From Thomas Dr. take Dolphin to the stop sign at South Lagoon. Take a right on South Lagoon and the Duplex is 1 block up in the left corner of South Lagoon and Mystic Street.

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Nearby Home Value

Address	Estimate	Bed	Bath	Sq. Ft	Lot Size
5012 Gulf Drive #1-4, Panama City Beach, FL, 32408	$1,599,999	10	8	--	0.13 Acre
6006 Thomas Drive, Panama City Beach, FL, 32408	$2,000,000	10	6	--	0.12 Acre
2907 Sarah Jean Court, Panama City Beach, FL, 32408	$1,199,000	8	8	--	0.71 Acre
8402 Elizabeth Avenue, Panama City Beach, FL, 32408	$529,000	4	4	--	0.14 Acre
2313/2311 Anne Avenue, Panama City Beach, FL, 32408	$949,000	6	6	--	0.22 Acre
2803 Lagoon Knoll #A, Panama City Beach, FL, 32408	$299,900	2	2	--	--

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