8906 SW 224th Ter
Cutler Bay, FL 33190 · townhomes · For Sale · 23 days on market
Asking price$450,000
4 beds 3 baths 1,712 sqft
Suggested offer$407,901$42,099 above the est. market value of $407,901.
View on Realtor.com →Listed by Luis Andrew Ruiz · EXP Realty, LLC
Typetownhomes
Built2007
Price / sqft$263
Est. value (own analysis)$407,901
Rent estimate (Zillow ZIP avg)$2,600/mo
HOA$115/mo
Wind10/10Extreme$Heat10/10ExtremeFlood8/10severe$Air2/10MinorWildfire2/10Minor
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Statusfor_sale
Listed date2026-08-10
Removed date—
MLSMiamiMLS #A12068411
Coordinates25.55868, -80.33592
Address8906 SW 224th Ter
CityCutler Bay
StateFL
Zip33190
Listing ID5199274757
Sourceus-real-estate-listings, cached 2026-08-28
ZIP market snapshot (33190)
Median sale price$419,900
Median days on market (sale)82
Active sale listings119
Median rent$2,600/mo
Median days on market (rent)48
Active rental listings93
Real ZIP-wide statistics from RentCast, as of 2026-08 (fetched 2026-08-29) — this is the whole ZIP's market, not specific to this property. Re-analyzing spends one of the account's 50 free monthly lookups. Our own log shows at least 6 of the 50 free monthly RentCast requests used — that only counts calls made through this app, so it can undercount. RentCast's own account dashboard has the real total.
Re-analyze ZIP 33190 (≥6 of 50 per our log)Underwriting (buy-and-hold, default assumptions)
| Acquisition (one-time, not monthly/yearly) | |
| Purchase price | $450,000 |
| Down payment (20.0%) | $90,000 |
| Loan amount | $360,000 |
| Closing costs (5.0%) | $22,500 |
| Total cash to close | $112,500 |
| Income | |
| Rent (ZIP avg, ZORI — not bedroom-specific) | $2,600$31,200 |
| Vacancy loss (8.0%) | |
| Effective gross income | $2,392$28,704 |
| Operating expenses | |
| Property tax (placeholder 1.9% of price) | $713$8,550 |
| Insurance (est. scaled by flood & wind risk) | $585$7,020 |
| HOA dues | $115$1,380 |
| Management (0.0% of EGI) | $0$0 |
| Maintenance (5.0% of GSR) | $130$1,560 |
| Total operating expenses | $1,543$18,510 |
| Net operating income (NOI) | |
| Debt service & reserves | |
| Debt service (6.66%, avg 30yr rate as of 2026-08-27, 30yr amortizing) | |
| CapEx reserve (5.0% of GSR) | $130$1,560 |
| Mortgage insurance (PMI) (0.0% of loan, not required — down payment ≥ 20%) | $0$0 |
| Cash flow |
Cap rate
Cash-on-cash
DSCR
Rent-to-price (1% rule)
Gross rent multiplier
Operating expense ratio
Break-even occupancy
Comparables
Same ZIP. Real active rental listings, used to derive the rent estimate above.
No active rental listings cached yet for this bedroom count.
Same ZIP & bedroom count. Closed sales from Realtor.com over the last 12 months, matched to this property's type — real transaction prices, not asking prices. Falls back to Miami-Dade County public records (property appraiser tax roll) when Realtor.com has no sales on file for the area.
| Address | Type | Beds | Baths | Living sqft | Sale price | Sale date |
|---|---|---|---|---|---|---|
| 22617 SW 102nd Ave Unit 22617 | townhomes | 4 | 4 | 2,131 | $512,000 | 2026-07-30 |
| 22569 SW 89th Pl | townhomes | 4 | 3 | 1,720 | $449,500 | 2026-07-24 |
| 22424 SW 89th Path | townhomes | 4 | 3 | 1,720 | $445,000 | 2026-07-09 |
| 8934 SW 227th Ter | townhomes | 4 | 2 | 2,201 | $490,000 | 2026-05-27 |
| 10261 SW 228th Ter | townhomes | 4 | 3 | 1,778 | $435,000 | 2026-05-05 |
| 22808 SW 89th Path | townhomes | 4 | 3 | 2,201 | $520,000 | 2026-04-30 |
| 22835 SW 89th Ct | townhomes | 4 | 2 | 2,201 | $520,000 | 2026-03-04 |
| 22766 SW 89th Pl | townhomes | 4 | 3 | 2,201 | $515,000 | 2026-02-06 |
| 22738 SW 89th Path | townhomes | 4 | 2 | 2,445 | $525,000 | 2026-01-23 |
| 22072 SW 93rd Pl | townhomes | 4 | 3 | 1,690 | $419,900 | 2025-11-14 |
| 8878 SW 229th St | townhomes | 4 | 3 | 2,201 | $485,000 | 2025-10-31 |
| 22773 SW 88th Path | townhomes | 4 | 2 | 2,000 | $545,000 | 2025-10-01 |
Same ZIP. Other properties currently for sale nearby — asking prices, not closed sale prices. Not a price comp; see Sold comps for actual transaction history.
| Address | Type | Beds | Baths | Sqft | Asking price | Days on market |
|---|---|---|---|---|---|---|
| 8836 SW 221st Ter | single_family | 4 | 2 | — | $610,000 | — |
| 10254 SW 228th Ter | townhomes | 4 | 3 | 1,778 | $499,000 | — |
| 22509 SW 102nd Ave | townhomes | 4 | 4 | 2,213 | $529,000 | — |
| 21705 SW 99th Ave | single_family | 4 | 2 | 2,165 | $480,000 | — |
| 22542 SW 103rd Ct | single_family | 4 | 3 | 2,581 | $715,777 | — |
| 9209 SW 227th St Unit 1 | townhomes | 4 | 3 | 1,523 | $374,900 | — |
| 8932 SW 228th Ln | townhomes | 4 | 3 | 2,201 | $519,000 | — |
| 10231 SW 227th Ln | single_family | 4 | 3 | 2,581 | $730,000 | — |
10-year hold projection
IRR-1.3%
Equity multiple0.79x
Total return (10yr)$34,946
| Year | Property value | NOI | Cash flow | Loan balance | Equity |
|---|---|---|---|---|---|
| 1 | $463,500 | $10,194 | -$19,128 | $356,097 | $107,403 |
| 2 | $477,405 | $10,592 | -$18,768 | $351,925 | $125,480 |
| 3 | $491,727 | $11,005 | -$18,396 | $347,468 | $144,259 |
| 4 | $506,479 | $11,432 | -$18,009 | $342,704 | $163,775 |
| 5 | $521,673 | $11,875 | -$17,608 | $337,613 | $184,060 |
| 6 | $537,324 | $12,333 | -$17,193 | $332,172 | $205,151 |
| 7 | $553,443 | $12,808 | -$16,762 | $326,358 | $227,085 |
| 8 | $570,047 | $13,300 | -$16,316 | $320,145 | $249,902 |
| 9 | $587,148 | $13,809 | -$15,854 | $313,505 | $273,643 |
| 10 | $604,762 | $14,336 | -$15,374 | $306,408 | $298,354 |
Assumes 3.0% annual rent growth, 2.5% expense growth, 3.0% appreciation, and a 6.0% selling cost at exit — all placeholder assumptions, not market-derived.