3707 Mystic Street A-b, Panama City Beach

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 and 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. Mystic Surf projects about $46,000 a year in rental income, and Mystic Sun projects about $30,000, for a combined projection of roughly $76,000 a year. 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.

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