Are my academics strong enough for Caltech and MIT?

SAT I: 1570 (770 EBRW, 800 Math) (7 3 7 essay)

GPA: 102.5

Class rank: 3/210

Is my 17 on essay an area of concern? Especially the 3 on Analysis?

Both are reaches for pretty much everyone. However, if you want to attend them then I think that it is worth an application. I am hoping that you also have good scores on math and science SAT subject tests.

At least in my experience over 4 years at MIT writing and analyzing essays was not a major issue. Being good at math was way more important.