Ricardo Salazar REALTOR® · RCR Real Connect Realty
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Ricardo Salazar · REALTOR® · TREC #643769 · RCR Real Connect Realty (broker license #9012393)

Investor sheet · MLS# 29780657 · https://ricosalazar.com/properties/1108-fairway-ln-harlingen-tx-78552-29780657

For sale

Single-family home

1108 Fairway Ln., Harlingen, TX 78552

$374,900

bd
3
ba
2
ft²
2,270
Est. cap rate 0.7% See the numbers →

MLS# 29780657 · Listed by Erica Lowder Ortiz, MARCUS PHIPPS REAL ESTATE, LLC · Tel. 956-423-5300

  • TypeSingle-family home
  • Year built2006
  • Lot0.13 acres
  • Price / ft²$165
  • HOA / month$146
  • Est. rent$1,700/mo Est.
  • Gateway International Bridge≈ 30 min approx.
Ask for a video walkthrough

Description

Welcome to this well-maintained home located in the gated 55+ community of Cottonwood Creek! Featuring an exceptionally spacious custom floor plan, this home offers plenty of room and storage throughout. Two bedrooms share a convenient Jack-and-Jill bathroom, while the primary suite features a jetted tub, separate walk-in shower with built-in seating, and grab bars. The home offers a combination of carpet and tile flooring. The spacious kitchen includes a refrigerator, electric cooktop, built-in oven, dishwasher, large pantry, and plenty of cabinet space. Additional features include a sprinkler system in both the front and back yards, a water heater replaced in 2015, and an A/C system replaced in 2022. Enjoy community amenities included with the HOA, such as golfing, a swimming pool, gated entry, and a clubhouse. Come see all the space and possibilities this home has to offer!

Property Details

Type
Single-family home · Single Family Residence
Status
For sale
MLS#
29780657
Price
$374,900
Price per ft²
$165
Bedrooms
3
Bathrooms
2
Living area
2,270 ft²
Lot size
0.13 acres
Year built
2006
Subdivision
The Fairways At Cottonwood Creek
City
Harlingen
County
Cameron
HOA
$146/mo
Days on market
0
Listed
Oct 30, 2026
Last updated
Oct 30, 2026, 9:02 PM CT

Key Figures

Price per ft²

$165

Source: MLS listing

Estimated rent

$1,700/mo

Gross yield 5.4%

Asking rent: median of 11 active rentals, ZIP 78552, 3 bedrooms (not signed leases) · RGV MLS, Oct 30, 2026

Days on market

0

Source: MLS listing

Est. fixed costs per month
$1,146/mo Est.
Cash to close with 25% down
$104,972 Est.
Est. cap rate
0.7% Est.

How we calculate the cap rate, and how accurate it is

General information only, not legal, tax or financial advice. Ricardo Salazar is a licensed real estate agent, not an attorney, CPA or lender. Consult qualified professionals in the U.S. and Mexico.

Estimates Only

Investment Calculator

Purchase

List price per the MLS. Try your own offer.

25%

100% = cash purchase, no loan.

7%

Planning assumption, not a lender quote.

Loan term
Income
/mo

Asking rent: median of 11 active rentals, ZIP 78552, 3 bedrooms (not signed leases) · RGV MLS, Oct 30, 2026

8%

Share of the year the property sits empty.

Expenses
/yr

Estimated at 2.2% of the price per year. Verify it with the Cameron Appraisal District.

/yr

Estimated at 1% of the price per year; coastal wind coverage can cost more.

/mo

Monthly dues per the MLS listing.

5%

% of collected rent.

8%

% of collected rent, if you hire a manager.

3%

Buyer side: title, appraisal, lender fees (estimate).

How we calculate the cap rate, and how accurate it is

Cap rate = NOI ÷ price. NOI is the rent you would collect in a year, after vacancy, minus the costs of running the property. The loan is left out, so the cap rate measures the property as if you paid cash.

Gross rent, 12 months Estimate
$20,400
Gross yield: rent ÷ price, before costs
5.4%
minus Vacancy (8% of gross rent) Assumption
$1,632
equals Rent collected
$18,768
minus Property tax Estimate
$8,248
minus Insurance Estimate
$3,749
minus HOA dues, 12 months MLS listing
$1,752
minus Maintenance (5% of rent collected) Assumption
$938
minus Management (8% of rent collected) Assumption
$1,501
equals Net operating income (NOI)
$2,579
divided by Price MLS listing
$374,900
equals Cap rate
0.7%

Amounts are rounded to the dollar; the cap rate uses the exact figures.

Accuracy

It is an estimate, not a quote or a guaranteed return. It is only as good as its inputs:

  • From the MLS listing: price, HOA
  • Our estimates and assumptions: rent, property tax, insurance, vacancy, maintenance, management
  • MLS figures are what the listing reports. We have not verified them.
  • Listings in this MLS do not include property tax, so unless you enter your own figure we use 2.2% of the price a year. Look up the property’s value and taxing units at the Cameron Appraisal District (opens in a new tab); a rental does not get the homestead exemption.
  • If a listing advertises its own cap rate, it may leave out vacancy, management or other costs, which makes it look higher.
  • To confirm it, ask for the current lease or rent roll, last year’s tax bill (Cameron County Tax Assessor-Collector) and your own insurance quote from a Texas-licensed agent; coastal wind and flood coverage can cost much more. For a specific property, Ricardo can ask the listing agent for the lease, the tax bill and what the seller pays for insurance.

What It Leaves Out

  • The mortgage. Your loan shows up in cash flow and cash-on-cash, not in the cap rate.
  • Big repairs and replacements (roof, A/C, appliances) and savings set aside for them.
  • Utilities, lawn care or pest control, if the owner pays them.
  • Closing costs, leasing fees, income taxes in the U.S. or Mexico, and depreciation.

Location and Drive Times

1108 Fairway Ln., Harlingen, TX 78552 Open in Google Maps (opens in a new tab)

  • Gateway International Bridge≈ 30 min approx.
  • B&M International Bridge≈ 30 min approx.
  • UTRGV Brownsville campus≈ 30 min approx.
  • Port of Brownsville≈ 35 min approx.
  • Veterans International Bridge at Los Tomates≈ 35 min approx.
  • South Padre Island (Queen Isabella Causeway)≈ 45 min approx.
  • SpaceX Starbase launch site, Boca Chica≈ 55 min approx.

Approximate car times computed from the map: city pace for the first 10 km, highway pace after that, and trips that would cross the ship channel go around it by the Port. They do not include traffic, bridge waits or launch-day road closures.

Schematic

Approximate positions; not a navigation map.

  • Area (opens its page)
  • International bridge
  • Main highway
  • Ship channel

Gateway Bridge to South Padre Island: ≈ 37 km (23 mi) in a straight line.

Base map data © OpenStreetMap

Financing for Foreign Buyers

Ricardo is not a lender. Ask him which loan types exist for foreign buyers and which documents lenders usually request.

Message on WhatsApp Read the buying guide

Ask About This Property

Ricardo Salazar

REALTOR® · TREC #643769

Ricardo Salazar

RCR Real Connect Realty

  • Español
  • English
Phone / WhatsApp
+1 (956) 592-5052
Email
rico.salazar20@gmail.com
Website
https://ricosalazar.com/

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About: 1108 Fairway Ln. · MLS# 29780657

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Listing office: MARCUS PHIPPS REAL ESTATE, LLC

Listing agent: Erica Lowder Ortiz

Office contact: 956-423-5300

MLS# 29780657 · Last updated

Contact

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$374,900Est. cap rate 0.7%

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1108 Fairway Ln., Harlingen, TX 78552 · MLS# 29780657

RICARDO SALAZAR

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