22551 SW 88th Pl Unit 203-1
Cutler Bay, FL 33190 · condos · For Sale · 92 days on market
Asking price$290,000
2 beds 2 baths 817 sqft
Suggested offer$222,362$67,638 above the est. market value of $222,362.
View on Realtor.com →Listed by Luis Andrew Ruiz · EXP Realty, LLC
Typecondos
Built2014
Price / sqft$355
Est. value (own analysis)$222,362
Rent estimate (own analysis)$1,900/mo
HOA$365/mo
Wind10/10Extreme$Heat10/10ExtremeFlood8/10severe$Air2/10MinorWildfire2/10Minor
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Statusfor_sale
Listed date2026-06-02
Removed date—
MLSMiamiMLS #A12029037
Coordinates25.55877, -80.33287
Address22551 SW 88th Pl Unit 203-1
CityCutler Bay
StateFL
Zip33190
Listing ID6124073998
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 1 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 (≥1 of 50 per our log)Underwriting (buy-and-hold, default assumptions)
| Acquisition (one-time, not monthly/yearly) | |
| Purchase price | $290,000 |
| Down payment (20.0%) | $58,000 |
| Loan amount | $232,000 |
| Closing costs (5.0%) | $14,500 |
| Total cash to close | $72,500 |
| Income | |
| Rent (comp-derived) | $1,900$22,800 |
| Vacancy loss (8.0%) | |
| Effective gross income | $1,748$20,976 |
| Operating expenses | |
| Property tax (placeholder 1.9% of price) | $459$5,510 |
| Insurance (est. scaled by flood & wind risk) | $377$4,524 |
| HOA dues | $365$4,380 |
| Management (0.0% of EGI) | $0$0 |
| Maintenance (5.0% of GSR) | $95$1,140 |
| Total operating expenses | $1,296$15,554 |
| 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) | $95$1,140 |
| 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 |
|---|---|---|---|---|---|---|---|
| condos | 2 | 2 | 940 | $1,800 | 2026-06-12 | — | |
| condos | 2 | 2 | 817 | $1,950 | 2026-06-10 | — | |
| condos | 2 | 2 | 940 | $1,900 | 2026-05-28 | — | |
| condos | 2 | 2 | 809 | $2,300 | 2026-08-19 | — | |
| condos | 2 | 2 | 940 | $1,800 | — | — |
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 |
|---|---|---|---|---|---|---|
| 10350 SW 220th St Apt 236 | condos | 2 | 2 | 940 | $170,000 | 2026-08-17 |
| 22401 SW 88th Pl Unit 12-27 | condos | 2 | 3 | 1,139 | $310,000 | 2026-05-08 |
| 10350 SW 220th St Apt 254 | condos | 2 | 2 | 940 | $171,000 | 2026-04-03 |
| 22731 SW 88th Pl Unit 203 | condos | 2 | 2 | 817 | $250,000 | 2026-03-16 |
| 22311 SW 88th Pl Unit 102-4 | condos | 2 | 2 | 809 | $260,000 | 2026-02-27 |
| 22541 SW 88th Pl Unit 103-6 | condos | 2 | 2 | 809 | $220,000 | 2025-12-15 |
| 22701 SW 88th Pl Unit 203-9 | condos | 2 | 2 | 817 | $248,000 | 2025-11-10 |
| 10370 SW 220th St Apt 113 | condos | 2 | 2 | 940 | $214,000 | 2025-10-06 |
| 22441 SW 88th Pl Unit 204-5 | condos | 2 | 2 | 817 | $278,000 | 2025-09-08 |
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 |
|---|---|---|---|---|---|---|
| 22501 SW 88th Pl Unit 5-25 | townhomes | 2 | 3 | 1,139 | $304,000 | — |
| 9125 SW 227th St Unit 1 | townhomes | 2 | 3 | 1,458 | $375,000 | — |
| 22541 SW 88th Pl Unit 105-6 | condos | 2 | 2 | 817 | $285,000 | — |
| 9011 SW 227th St Unit 2 | townhomes | 2 | 3 | 1,458 | $370,000 | — |
| 10350 SW 220th St Apt 241 | condos | 2 | 2 | 940 | $190,000 | — |
| 22931 SW 88th Pl Unit 102 | condos | 2 | 2 | 809 | $249,000 | — |
| 22801 SW 88th Pl Unit 202 | condos | 2 | 2 | 817 | $269,000 | — |
| 9315 SW 221st St | townhomes | 2 | 3 | 1,282 | $399,999 | — |
10-year hold projection
IRR-2.4%
Equity multiple0.60x
Total return (10yr)$8,802
| Year | Property value | NOI | Cash flow | Loan balance | Equity |
|---|---|---|---|---|---|
| 1 | $298,700 | $5,422 | -$13,609 | $229,485 | $69,215 |
| 2 | $307,661 | $5,662 | -$13,397 | $226,797 | $80,864 |
| 3 | $316,891 | $5,912 | -$13,176 | $223,924 | $92,967 |
| 4 | $326,398 | $6,171 | -$12,947 | $220,854 | $105,544 |
| 5 | $336,189 | $6,440 | -$12,709 | $217,573 | $118,616 |
| 6 | $346,275 | $6,719 | -$12,461 | $214,067 | $132,208 |
| 7 | $356,663 | $7,009 | -$12,204 | $210,320 | $146,343 |
| 8 | $367,363 | $7,309 | -$11,937 | $206,316 | $161,047 |
| 9 | $378,384 | $7,621 | -$11,659 | $202,037 | $176,347 |
| 10 | $389,736 | $7,944 | -$11,370 | $197,464 | $192,271 |
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.