22631 SW 88th Pl Unit 1-18
Cutler Bay, FL 33190 · condos · Pending — under contract · 76 days on market
Asking price$324,900
3 beds 3 baths 1,383 sqft
Listed by VIVIAN DE LA ROSA · Realty World Executive Homes
Typecondos
Built2010
Price / sqft$235
Est. value (own analysis)$338,116
Rent estimate (own analysis)$2,475/mo
HOA$355/mo
Wind10/10Extreme$Heat10/10ExtremeFlood8/10severe$Wildfire3/10ModerateAir2/10Minor
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Statusfor_sale
Listed date2026-06-19
Removed date—
MLSMiamiMLS #A12038427
Coordinates25.55893, -80.33342
Address22631 SW 88th Pl Unit 1-18
CityCutler Bay
StateFL
Zip33190
Listing ID6536980457
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 | $324,900 |
| Down payment (20.0%) | $64,980 |
| Loan amount | $259,920 |
| Closing costs (5.0%) | $16,245 |
| Total cash to close | $81,225 |
| Income | |
| Rent (comp-derived) | $2,475$29,700 |
| Vacancy loss (8.0%) | |
| Effective gross income | $2,277$27,324 |
| Operating expenses | |
| Property tax (placeholder 1.9% of price) | $514$6,173 |
| Insurance (est. scaled by flood & wind risk) | $422$5,068 |
| HOA dues | $355$4,260 |
| Management (0.0% of EGI) | $0$0 |
| Maintenance (5.0% of GSR) | $124$1,485 |
| Total operating expenses | $1,416$16,987 |
| 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) | $124$1,485 |
| 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 | 3 | 3 | 1,539 | $2,700 | 2026-08-20 | — | |
| condos | 3 | 3 | 1,383 | $2,200 | 2026-07-31 | — | |
| condos | 3 | 3 | 1,459 | $2,500 | 2026-08-18 | — | |
| condos | 3 | 2 | 1,264 | $2,200 | 2026-07-27 | — | |
| condos | 3 | 2 | 1,515 | $2,500 | 2026-08-04 | — | |
| condos | 3 | 2 | 1,264 | $2,250 | 2026-07-21 | — | |
| apartment | 3 | 2 | 1,150 | $2,399 | 2026-07-30 | — | |
| condos | 3 | 3 | 1,539 | $2,750 | 2026-08-17 | — | |
| apartment | 3 | 2 | 1,550 | $2,450 | — | — | |
| apartment | 3 | 3 | 1,515 | $2,650 | 2026-07-07 | — |
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 |
|---|---|---|---|---|---|---|
| 9207 SW 227th St Unit 3 | condos | 3 | 3 | 1,325 | $325,000 | 2026-05-27 |
| 9227 SW 227th St | condos | 3 | 3 | 1,459 | $350,000 | 2026-03-20 |
| 22901 SW 88th Pl Unit 101 | condos | 3 | 2 | 1,018 | $305,000 | 2026-03-19 |
| 22541 SW 88th Pl Unit 304-6 | condos | 3 | 2 | 1,264 | $308,000 | 2025-12-19 |
| 9259 SW 227th St Unit 1-25 | condo_townhome_rowhome_coop | 3 | 3 | 1,325 | $350,000 | 2025-11-17 |
| 9219 SW 227th St Unit 12 | condos | 3 | 3 | 1,523 | $349,000 | 2025-10-17 |
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
IRR1.0%
Equity multiple1.17x
Total return (10yr)$56,289
| Year | Property value | NOI | Cash flow | Loan balance | Equity |
|---|---|---|---|---|---|
| 1 | $334,647 | $10,337 | -$11,191 | $257,102 | $77,545 |
| 2 | $344,686 | $10,733 | -$10,833 | $254,090 | $90,596 |
| 3 | $355,027 | $11,142 | -$10,462 | $250,872 | $104,155 |
| 4 | $365,678 | $11,565 | -$10,078 | $247,432 | $118,246 |
| 5 | $376,648 | $12,003 | -$9,680 | $243,756 | $132,892 |
| 6 | $387,948 | $12,457 | -$9,267 | $239,828 | $148,119 |
| 7 | $399,586 | $12,927 | -$8,839 | $235,630 | $163,956 |
| 8 | $411,574 | $13,413 | -$8,396 | $231,144 | $180,429 |
| 9 | $423,921 | $13,917 | -$7,936 | $226,350 | $197,571 |
| 10 | $436,638 | $14,438 | -$7,461 | $221,227 | $215,412 |
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.