7101 CHERRY STREET, PANAMA CITY, FL, 32404
Active1 days on marketListed Aug 13, 2026MLS #TB8538552
About this home
7101 CHERRY STREET
Don’t miss this opportunity in Panama City! Situated on an oversized corner lot of approximately 0.58 acres, 7101 Cherry St offers a unique combination of land, potential, and location that is hard to find. The property features 2 bedrooms, 1 bathroom, a covered carport, and plenty of room to make the property your own. The home is ready for your vision, with an opportunity to add updates, new flooring, and a little TLC to truly bring it to life. The expansive lot provides plenty of possibilities for outdoor space, future improvements, and potential subdivision. Located in a convenient Panama City location, you’ll be just a short drive from the beautiful Gulf Coast beaches and Downtown Panama City, putting you close to restaurants, shopping, entertainment, and everything the area has to offer. Whether you’re looking for a home to customize, an investment opportunity, or a property with additional land potential, 7101 Cherry St is a property you won’t want to miss. With its oversized lot, corner location, and proximity to the beach and downtown, the possibilities are endless.
Facts & features
The home at a glance
2
Bedrooms
1
Bathrooms
800
Sqft
0.59 ac
Lot size
1949
Year built
One
Levels
$169
Per sqft
Inside
Outside & construction
Community & fees
Utilities & systems
The numbers
What it really costs
Built from this home's actual numbers — the most recent property-tax bill on record — not generic estimates.
$1,105 /mo · 3.5% down FHA, 30-yr fixed at 6%
The assumptions
FHA is the default here because it gets you in the door with just 3.5% down. Switch to Conventional or VA below.
These numbers assume a generic buyer — your credit, down payment and loan program change them. Get the real quote in minutes:
Andrew Acosta
Acosta Home Loans with PRMG · NMLS #1468866
Run your own numbers
Estimated payment
$1,105/mo
Includes FHA mortgage insurance and the financed 1.75% upfront premium. Taxes reflect the most recent bill on record; insurance is a typical-Florida estimate. Your lender’s numbers will differ. CENTURY 21 Edge partners with Florida’s best lenders.
Value check
Is the price right?
The internet’s favorite home-value number comes from a single automated model that has never seen the street, the finishes, or the view — which is why it routinely misses by tens of thousands of dollars. The edgeAI estimate combines multiple independent data sources with our team’s on-the-ground expertise in this exact market.
$/sqft vs Panama City actives
$169 vs $173
Days on market
1 vs 27 typical
Where $169/sqft sits among the 7 Panama City actives
The edgeAI estimate is a starting point, not an appraisal or a broker price opinion. It is generated from public records, listing data and market modeling, and is subject to change once a licensed real estate professional personally inspects the property. Condition, floor, view and lot are not fully captured by any model — ask us for a full comparative market analysis.
Where it sits
Inside Panama City
Get to know Panama City. See the full Panama City guide →
PANAMA CITY 32404 — neighborhood snapshot
Population
42,117
Median age
38.1
Median income
$72,208
Median home value
$239,700
Avg household
2.6
Households w/ children
5,276
For the school run
Bay County School District
School assignments and ratings via edgeAI — always verify with the district.
The numbers that matter
The Panama City market
$250K → $54K
Panama City median sold, yr/yr
90.7%
Sale-to-list ratio (12 mo)
2 of 7
Panama City actives have cut their price
Median sold price, Panama City, trailing 36 months (3-month rolling) · live MLS data.
This home is listed 50% above the PANAMA CITY 32404 median. See the full Panama City market guide →
Paper trail
This home's history
Reality check
What actually sold near 7101 CHERRY STREET
Asking prices are opinions — closed sales are facts. The most comparable homes that actually changed hands nearby in the last twelve months.
Sold · Mar ’26$600,000
12325 SW 240th St, Homestead FL 33032 · same community
3 bd · 1 ba · 1,024 sqft · $586/sqft · 27 DOM
Sold · May ’26$75,000
4293 COUNTY ROAD 136 · same community
2 bd · 1.5 ba · 464 sqft · $162/sqft · 421 DOM
Sold · Jun ’26$240,000
38611 MARSHALL STREET · same community
3 bd · 1 ba · 1,288 sqft · $186/sqft · 4 DOM
Closed-sale data from the MLS, last 12 months, selected for similarity in size and location. No two homes are identical — ask us for a full comparative analysis.
Your home team
The pros in your corner
Buying a home is two conversations — the home and the money. Here’s who handles each, side by side, already working together.
Your agent
David Ramirez
Real Estate Agent · CENTURY 21 Edge
Tours, negotiation, and every question about 7101 CHERRY STREET — start here.
Your lender
Andrew Acosta
Acosta Home Loans with PRMG · NMLS #1468866
Pre-approval, rates, and the real monthly number for 7101 CHERRY STREET — before you fall in love.
See it in person
Schedule a tour
Pick a day that works — this goes straight to David's phone and CRM.
Straight answers
7101 CHERRY STREET FAQs
What would the monthly payment be for 7101 CHERRY STREET?+
With 3.5% down on a 30-year FHA loan at 6%, the all-in payment lands around $1,105/mo — principal and interest, the actual property-tax bill and typical Florida insurance. The payment calculator on this page lets you switch loan type (FHA, Conventional, VA) and adjust the down payment, rate and term.
What are the property taxes on 7101 CHERRY STREET?+
The most recent tax bill on record (2025) was $1,081. A new owner's bill can differ once the sale price resets the assessed value — we can walk you through what to expect.
How does the price compare to other homes in Panama City?+
At $135,000, this home is listed about 47% below the Panama City median of $257,000. The market section on this page shows how the area is trending.
Which schools are assigned to 7101 CHERRY STREET?+
Rutherford High School (high), Cedar Grove Elementary School (elementary) — Bay County School District. Always verify school assignments with the district before relying on them.
Keep looking
Similar homes nearby
Listing courtesy of SOUTH CEDAR REAL ESTATE, INC · Giselle Rachels. MLS #TB8538552.
IDX information is provided exclusively for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data is deemed reliable but is not guaranteed accurate by Stellar MLS.
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