Minecraft Realms does exactly this but for money. If you don't feel like paying anything, simply get the minecraft-server.jar file and manually setup your own server. Even if there was a "Create your Server" button that makes a .bat file, like Zitchas pointed out, you will need to know a basic knowledge on networking to get a homemade server working, like port forwarding and such, which isn't really that hard. If you find it to be a hassle, then might as well use Minecraft Realms.
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