22412 SW 89th Ave
Cutler Bay, FL 33190 · townhomes · For Sale · 40 days on market
Asking price$455,000
3 beds 3 baths 1,747 sqft
Suggested offer$443,340$11,660 above the est. market value of $443,340.
View on Realtor.com →Listed by Yudiley Alfaro · The Source Commercial Realty LLC
Typetownhomes
Built2010
Price / sqft$260
Est. value (own analysis)$443,340
Rent estimate (own analysis)$2,800/mo
HOA$88/mo
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Statusfor_sale
Listed date2026-07-24
Removed date—
MLSMiamiMLS #A12059307
Coordinates25.55909, -80.33579
Address22412 SW 89th Ave
CityCutler Bay
StateFL
Zip33190
Listing ID5354657901
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 | $455,000 |
| Down payment (20.0%) | $91,000 |
| Loan amount | $364,000 |
| Closing costs (5.0%) | $22,750 |
| Total cash to close | $113,750 |
| Income | |
| Rent (comp-derived) | $2,800$33,600 |
| Vacancy loss (8.0%) | |
| Effective gross income | $2,576$30,912 |
| Operating expenses | |
| Property tax (placeholder 1.9% of price) | $720$8,645 |
| Insurance (placeholder 0.8% of price) | $303$3,640 |
| HOA dues | $88$1,056 |
| Management (0.0% of EGI) | $0$0 |
| Maintenance (5.0% of GSR) | $140$1,680 |
| Total operating expenses | $1,252$15,021 |
| 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) | $140$1,680 |
| 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 |
|---|---|---|---|---|---|---|---|
| townhomes | 3 | 3 | 1,587 | $2,925 | 2026-08-16 | — | |
| townhomes | 3 | 3 | 1,544 | $2,975 | 2026-08-14 | — | |
| townhomes | 3 | 3 | 1,362 | $2,800 | 2026-08-11 | — | |
| townhomes | 3 | 3 | 1,587 | $3,100 | 2026-07-15 | — | |
| townhomes | 3 | 3 | 1,832 | $3,100 | 2026-07-06 | — | |
| townhomes | 3 | 3 | 1,544 | $3,500 | 2026-07-02 | — | |
| townhomes | 3 | 3 | 1,545 | $2,900 | 2026-07-01 | — | |
| townhomes | 3 | 3 | 1,328 | $3,000 | 2026-05-27 | — | |
| townhomes | 3 | 3 | 1,518 | $2,299 | 2026-05-18 | — | |
| townhomes | 3 | 3 | 1,539 | $3,200 | 2026-07-30 | — | |
| townhomes | 3 | 3 | 1,325 | $2,300 | 2026-08-02 | — | |
| townhomes | 3 | 3 | 1,416 | $2,800 | 2026-07-22 | — | |
| townhomes | 3 | 3 | 1,515 | $2,500 | 2026-04-09 | — | |
| townhomes | 3 | 3 | 1,523 | $2,650 | 2026-08-03 | — | |
| townhomes | 3 | 3 | 1,705 | $2,700 | 2026-07-15 | — | |
| townhomes | 3 | 3 | 1,325 | $2,800 | 2026-08-19 | — | |
| townhomes | 3 | 3 | 1,416 | $2,800 | 2026-08-06 | — | |
| townhomes | 3 | 2 | 1,515 | $2,450 | 2026-01-27 | — | |
| townhomes | 3 | 3 | 1,515 | $2,400 | 2026-06-17 | — | |
| townhomes | 3 | 3 | 1,459 | $2,500 | 2026-03-28 | — | |
| townhomes | 3 | 3 | 1,526 | $2,800 | 2026-08-03 | — | |
| townhomes | 3 | 2 | 1,705 | $2,900 | 2026-08-04 | — | |
| townhomes | 3 | 3 | 1,515 | $2,380 | — | — | |
| townhomes | 3 | 3 | 1,489 | $2,700 | 2026-03-09 | — | |
| townhomes | 3 | 2 | 1,458 | $2,600 | 2026-06-17 | — | |
| townhomes | 3 | 3 | 1,325 | $2,400 | 2026-02-11 | — | |
| townhomes | 3 | 3 | 1,515 | $2,380 | 2024-05-01 | — | |
| townhomes | 3 | 3 | 1,383 | $2,475 | 2026-08-31 | — | |
| townhomes | 3 | 3 | 1,526 | $2,900 | 2026-09-01 | — |
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 |
|---|---|---|---|---|---|---|
| 22019 SW 92nd Pl | townhomes | 3 | 3 | 1,562 | $430,000 | 2026-08-31 |
| 9346 SW 221st St | townhomes | 3 | 3 | 1,562 | $410,000 | 2026-08-28 |
| 8877 SW 223rd Ln | townhomes | 3 | 2 | 1,463 | $396,000 | 2026-07-28 |
| 9941 SW 231st Ln Unit 9941 | townhomes | 3 | 3 | 1,328 | $430,000 | 2026-07-27 |
| 22711 SW 88th Pl Unit 7-23 | townhomes | 3 | 3 | 1,383 | $337,215 | 2026-07-16 |
| 8906 SW 221st Ter | townhomes | 3 | 3 | 1,812 | $469,000 | 2026-07-15 |
| 10031 SW 228th Ter | townhomes | 3 | 2 | 1,587 | $390,000 | 2026-07-06 |
| 22110 SW 93rd Pl | townhomes | 3 | 3 | 1,416 | $410,000 | 2026-07-01 |
| 8884 SW 220th Ln | townhomes | 3 | 3 | 1,705 | $402,000 | 2026-04-30 |
| 8905 SW 221st Ter | townhomes | 3 | 3 | 1,812 | $500,000 | 2026-04-24 |
| 10011 SW 231st Ln | townhomes | 3 | 3 | 1,832 | $435,000 | 2026-04-23 |
| 9219 SW 227th St Unit 9 | townhomes | 3 | 3 | 1,325 | $332,000 | 2026-04-22 |
| 9011 SW 227th St Unit 7 | townhomes | 3 | 2 | 1,692 | $425,000 | 2026-04-08 |
| 8875 SW 223rd Ln | townhomes | 3 | 3 | 1,617 | $410,000 | 2026-04-08 |
| 22384 SW 89th Ave | townhomes | 3 | 2 | 1,747 | $420,000 | 2026-04-07 |
| 10066 SW 228th Ter | townhomes | 3 | 3 | 1,328 | $450,000 | 2026-04-01 |
| 22501 SW 88th Pl Unit 15-25 | townhomes | 3 | 3 | 1,515 | $348,000 | 2026-04-01 |
| 8925 SW 222nd Ter | townhomes | 3 | 3 | 1,705 | $395,000 | 2026-03-30 |
| 22526 SW 89th Pl | townhomes | 3 | 2 | 1,526 | $390,000 | 2026-03-24 |
| 9917 SW 228th Ter | townhomes | 3 | 3 | 1,328 | $414,900 | 2026-03-23 |
| 8914 SW 222nd Ter | townhomes | 3 | 2 | 1,705 | $375,000 | 2026-03-11 |
| 10069 SW 231st Ln | townhomes | 3 | 2 | 1,832 | $450,000 | 2026-03-09 |
| 22304 SW 103rd Ct | townhomes | 3 | 2 | 1,458 | $370,000 | 2026-03-09 |
| 10140 SW 228th Ter | townhomes | 3 | 2 | 1,362 | $430,000 | 2026-03-03 |
| 10225 SW 231st Ln | townhomes | 3 | 3 | 1,544 | $430,000 | 2026-02-12 |
| 9105 SW 227th St Unit 1 | townhomes | 3 | 2 | 1,542 | $410,000 | 2026-02-04 |
| 22014 SW 103rd Ave | townhomes | 3 | 3 | 1,518 | $337,000 | 2026-01-30 |
| 10104 SW 228th Ter | townhomes | 3 | 2 | 1,778 | $430,000 | 2026-01-23 |
| 21937 SW 88th Path | townhomes | 3 | 3 | 1,705 | $400,000 | 2026-01-16 |
| 10104 SW 228th Ter | townhomes | 3 | 3 | 1,778 | $430,000 | 2026-01-14 |
| 22265 SW 103rd Ave | townhomes | 3 | 3 | 1,518 | $364,000 | 2025-12-30 |
| 22449 SW 88th Path | townhomes | 3 | 2 | 1,416 | $400,000 | 2025-12-29 |
| 9925 SW 228th Ter | townhomes | 3 | 3 | 1,539 | $452,000 | 2025-11-24 |
| 10242 SW 228th Ter | townhomes | 3 | 3 | 1,735 | $495,000 | 2025-11-21 |
| 10111 SW 231st Ln | townhomes | 3 | 3 | 1,832 | $447,500 | 2025-11-20 |
| 10016 SW 228th Ter | townhomes | 3 | 3 | 1,539 | $430,000 | 2025-11-17 |
| 9333 SW 227th St Unit 8-6 | townhomes | 3 | 3 | 1,459 | $350,000 | 2025-11-06 |
| 9011 SW 227th St Unit 3 | townhomes | 3 | 3 | 1,692 | $415,000 | 2025-10-30 |
| 22084 SW 93rd Pl | townhomes | 3 | 3 | 1,416 | $409,900 | 2025-10-30 |
| 22346 SW 103rd Ct | townhomes | 3 | 3 | 1,458 | $340,000 | 2025-10-24 |
| 22743 SW 88th Path | townhomes | 3 | 2 | 1,968 | $549,000 | 2025-10-17 |
| 21926 SW 88th Path | townhomes | 3 | 3 | 1,812 | $430,000 | 2025-09-30 |
| 10237 SW 228th Ter | townhomes | 3 | 3 | 1,394 | $435,000 | 2025-09-29 |
| 22006 SW 89th Ct | townhomes | 3 | 2 | 1,812 | $440,000 | 2025-09-25 |
| 10054 SW 231st Ln | townhomes | 3 | 3 | 1,832 | $420,000 | 2025-09-23 |
| 22018 SW 89th Ct | townhomes | 3 | 3 | 1,705 | $435,000 | 2025-09-17 |
| 10057 SW 231st Ln | townhomes | 3 | 3 | 1,374 | $445,000 | 2025-09-17 |
| 8897 SW 229th St | townhomes | 3 | 2 | 1,787 | $489,000 | 2025-09-09 |
| 10260 SW 228th Ter Unit 10260 | townhomes | 3 | 3 | 1,394 | $440,000 | 2025-09-04 |
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 |
|---|---|---|---|---|---|---|
| 22405 SW 102nd Ave | townhomes | 3 | 3 | 1,806 | $489,000 | — |
| 10095 SW 231st Ln | townhomes | 3 | 3 | 1,832 | $475,000 | — |
| 10085 SW 228th Ter | townhomes | 3 | 3 | 1,362 | $435,000 | — |
| 9965 SW 228th Ter | townhomes | 3 | 3 | 1,539 | $409,000 | — |
| 10072 SW 231st Ln | townhomes | 3 | 3 | 1,832 | $425,000 | — |
| 10079 SW 228th Ter Unit 10079 | townhomes | 3 | 3 | 1,335 | $415,000 | — |
| 10004 SW 231st Ln | townhomes | 3 | 3 | 1,832 | $419,000 | — |
| 10144 SW 228th Ter | townhomes | 3 | 3 | 1,328 | $435,000 | — |
10-year hold projection
IRR2.1%
Equity multiple1.33x
Total return (10yr)$97,233
| Year | Property value | NOI | Cash flow | Loan balance | Equity |
|---|---|---|---|---|---|
| 1 | $468,650 | $15,891 | -$13,859 | $360,053 | $108,597 |
| 2 | $482,710 | $16,443 | -$13,349 | $355,836 | $126,874 |
| 3 | $497,191 | $17,013 | -$12,822 | $351,329 | $145,862 |
| 4 | $512,107 | $17,602 | -$12,277 | $346,512 | $165,594 |
| 5 | $527,470 | $18,211 | -$11,713 | $341,365 | $186,105 |
| 6 | $543,294 | $18,841 | -$11,130 | $335,864 | $207,430 |
| 7 | $559,593 | $19,491 | -$10,527 | $329,985 | $229,608 |
| 8 | $576,380 | $20,163 | -$9,904 | $323,703 | $252,678 |
| 9 | $593,672 | $20,857 | -$9,260 | $316,989 | $276,683 |
| 10 | $611,482 | $21,574 | -$8,594 | $309,814 | $301,668 |
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.