22621 SW 88th Pl Unit 106-8
Cutler Bay, FL 33190 · condos · For Sale · 14 days on market
Asking price$310,000
3 beds 2 baths 1,018 sqft
Suggested offer$248,881$61,119 above the est. market value of $248,881.
View on Realtor.com →Listed by Daniela Serna-Londono · Urbis Real Estate Corp.
Typecondos
Built2007
Price / sqft$305
Est. value (own analysis)$248,881
Rent estimate (own analysis)$2,250/mo
HOA$420/mo
Wind10/10Extreme$Heat10/10ExtremeFlood8/10severe$Air2/10MinorWildfire2/10Minor
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Statusfor_sale
Listed date2026-08-19
Removed date—
MLSMiamiMLS #A12074197
Coordinates25.55877, -80.33287
Address22621 SW 88th Pl Unit 106-8
CityCutler Bay
StateFL
Zip33190
Listing ID6620283229
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 | $310,000 |
| Down payment (20.0%) | $62,000 |
| Loan amount | $248,000 |
| Closing costs (5.0%) | $15,500 |
| Total cash to close | $77,500 |
| Income | |
| Rent (comp-derived) | $2,250$27,000 |
| Vacancy loss (8.0%) | |
| Effective gross income | $2,070$24,840 |
| Operating expenses | |
| Property tax (placeholder 1.9% of price) | $491$5,890 |
| Insurance (est. scaled by flood & wind risk) | $403$4,836 |
| HOA dues | $420$5,040 |
| Management (0.0% of EGI) | $0$0 |
| Maintenance (5.0% of GSR) | $113$1,350 |
| Total operating expenses | $1,426$17,116 |
| 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) | $113$1,350 |
| 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 | 2 | 1,264 | $2,200 | 2026-07-27 | — | |
| condos | 3 | 2 | 1,264 | $2,250 | 2026-07-21 | — | |
| apartment | 3 | 2 | 1,150 | $2,399 | 2026-07-30 | — |
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
IRR-0.8%
Equity multiple0.87x
Total return (10yr)$30,167
| Year | Property value | NOI | Cash flow | Loan balance | Equity |
|---|---|---|---|---|---|
| 1 | $319,300 | $7,724 | -$12,751 | $245,311 | $73,989 |
| 2 | $328,879 | $8,041 | -$12,467 | $242,438 | $86,441 |
| 3 | $338,745 | $8,370 | -$12,173 | $239,367 | $99,378 |
| 4 | $348,908 | $8,711 | -$11,867 | $236,085 | $112,822 |
| 5 | $359,375 | $9,065 | -$11,550 | $232,578 | $126,797 |
| 6 | $370,156 | $9,431 | -$11,221 | $228,830 | $141,326 |
| 7 | $381,261 | $9,811 | -$10,879 | $224,825 | $156,436 |
| 8 | $392,699 | $10,205 | -$10,525 | $220,545 | $172,154 |
| 9 | $404,480 | $10,612 | -$10,157 | $215,971 | $188,509 |
| 10 | $416,614 | $11,035 | -$9,775 | $211,083 | $205,532 |
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.