21130 SW 87th Ave Apt 304
Cutler Bay, FL 33189 · condos · For Sale · 33 days on market
Asking price$315,000
2 beds 2 baths 991 sqft
Suggested offer$216,158$98,842 above the est. market value of $216,158.
View on Realtor.com →Listed by Brooke Padron · Luxe Properties
Typecondos
Built2005
Price / sqft$318
Est. value (own analysis)$216,158
Rent estimate (own analysis)$2,150/mo
HOA$419/mo
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Statusfor_sale
Listed date2026-07-31
Removed date—
MLSMiamiMLS #A12062789
Coordinates25.57085, -80.33264
Address21130 SW 87th Ave Apt 304
CityCutler Bay
StateFL
Zip33189
Listing ID5266309615
Sourceus-real-estate-listings, cached 2026-08-28
ZIP market snapshot (33189)
Typical home value (ZHVI)$554,285
Typical rent (ZORI)$2,715/mo
Zillow Research's ZHVI (home value index) and ZORI (rent index) for this ZIP, as of 2026-07 — free published data, refreshed monthly, no RentCast quota spent. "Typical value/rent" is a smoothed index, not a literal median of active listings.
Underwriting (buy-and-hold, default assumptions)
| Acquisition (one-time, not monthly/yearly) | |
| Purchase price | $315,000 |
| Down payment (20.0%) | $63,000 |
| Loan amount | $252,000 |
| Closing costs (5.0%) | $15,750 |
| Total cash to close | $78,750 |
| Income | |
| Rent (comp-derived) | $2,150$25,800 |
| Vacancy loss (8.0%) | |
| Effective gross income | $1,978$23,736 |
| Operating expenses | |
| Property tax (placeholder 1.9% of price) | $499$5,985 |
| Insurance (placeholder 0.8% of price) | $210$2,520 |
| HOA dues | $419$5,028 |
| Management (0.0% of EGI) | $0$0 |
| Maintenance (5.0% of GSR) | $108$1,290 |
| Total operating expenses | $1,235$14,823 |
| 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) | $108$1,290 |
| 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.
| Address | Type | Beds | Baths | Sqft | Asking rent | Listed | Days on market |
|---|---|---|---|---|---|---|---|
| apartment | 2 | 2 | 827 | $1,759 | 2026-07-07 | — | |
| condos | 2 | 2 | 1,113 | $2,300 | 2026-07-13 | — | |
| apartment | 2 | 2 | 980 | $2,100 | 2026-06-17 | — | |
| condos | 2 | 2 | 1,113 | $2,150 | 2026-07-21 | — | |
| condos | 2 | 2 | 980 | $1,800 | 2026-07-02 | — | |
| apartment | 2 | 2 | 1,061 | $2,200 | 2026-08-21 | — | |
| condos | 2 | 2 | 1,113 | $2,000 | 2026-03-11 | — | |
| condos | 2 | 2 | 980 | $2,300 | 2026-08-26 | — | |
| condos | 2 | 2 | 1,082 | $2,400 | 2026-08-24 | — | |
| condos | 2 | 2 | 980 | $2,000 | 2026-07-20 | — | |
| condos | 2 | 2 | 980 | $1,850 | 2026-06-02 | — | |
| condos | 2 | 2 | 1,060 | $2,200 | 2026-06-26 | — | |
| condos | 2 | 2 | 1,113 | $2,150 | 2026-08-14 | — | |
| condos | 2 | 2 | 1,113 | $2,250 | 2026-06-11 | — | |
| condos | 2 | 2 | 1,192 | $2,350 | 2026-06-28 | — | |
| condos | 2 | 2 | 980 | $2,200 | 2025-09-04 | — | |
| condos | 2 | 2 | 1,130 | $1,950 | 2025-12-18 | — | |
| apartment | 2 | 2 | 980 | $1,850 | 2026-03-17 | — | |
| condos | 2 | 2 | 1,113 | $2,300 | — | — |
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 |
|---|---|---|---|---|---|---|
| 8640 SW 212th St Apt 303 | condos | 2 | 2 | 1,113 | $235,000 | 2026-08-11 |
| 21121 SW 85th Ave Apt 216 | condos | 2 | 2 | 1,192 | $260,000 | 2026-08-03 |
| 21130 SW 87th Ave Apt 203 | condos | 2 | 2 | 991 | $240,000 | 2026-07-08 |
| 8590 SW 212th St Apt 303 | condos | 2 | 2 | 1,113 | $248,000 | 2026-06-22 |
| 8540 SW 212th St Apt 303 | condos | 2 | 2 | 1,113 | $220,000 | 2026-05-20 |
| 8560 SW 212th St Apt 305 | condos | 2 | 2 | 1,113 | $222,000 | 2026-05-15 |
| 8660 SW 212th St Apt 101 | condos | 2 | 2 | 1,123 | $260,000 | 2026-02-13 |
| 21133 SW 85th Ave Apt 108 | condos | 2 | 2 | 1,160 | $265,000 | 2025-10-06 |
| 8620 SW 212th St Apt 301 | condos | 2 | 2 | 1,113 | $240,000 | 2025-09-30 |
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 |
|---|---|---|---|---|---|---|
| 8670 SW 212th St Apt 105 | condos | 2 | 2 | 1,113 | $265,000 | — |
| 8500 SW 212th St Apt 309 | condos | 2 | 2 | 1,113 | $240,000 | — |
| 8240 SW 210th St Apt 319 | condos | 2 | 2 | 980 | $240,000 | — |
| 20930 SW 83rd Ave | townhomes | 2 | 3 | 1,381 | $377,900 | — |
| 8260 SW 210th St Apt 210 | condos | 2 | 2 | 980 | $230,000 | — |
| 21121 SW 85th Ave Apt 311 | condos | 2 | 2 | 1,192 | $265,000 | — |
| 8670 SW 212th St Apt 108 | condos | 2 | 2 | 1,113 | $265,000 | — |
| 8670 SW 212th St Apt 307 | condos | 2 | 2 | 1,113 | $255,000 | — |
10-year hold projection
IRR0.2%
Equity multiple1.02x
Total return (10yr)$43,104
| Year | Property value | NOI | Cash flow | Loan balance | Equity |
|---|---|---|---|---|---|
| 1 | $324,450 | $8,913 | -$11,810 | $249,268 | $75,182 |
| 2 | $334,184 | $9,255 | -$11,501 | $246,348 | $87,836 |
| 3 | $344,209 | $9,608 | -$11,180 | $243,227 | $100,982 |
| 4 | $354,535 | $9,974 | -$10,848 | $239,893 | $114,642 |
| 5 | $365,171 | $10,353 | -$10,504 | $236,329 | $128,842 |
| 6 | $376,126 | $10,746 | -$10,147 | $232,521 | $143,606 |
| 7 | $387,410 | $11,152 | -$9,777 | $228,451 | $158,959 |
| 8 | $399,033 | $11,572 | -$9,394 | $224,102 | $174,931 |
| 9 | $411,004 | $12,008 | -$8,997 | $219,453 | $191,550 |
| 10 | $423,334 | $12,458 | -$8,586 | $214,486 | $208,847 |
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.