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

Investor sheet · MLS# 29778820 · https://ricosalazar.com/properties/116-w-park-brownsville-tx-78520-29778820

For sale

$235,000

116 W Park, Brownsville, TX 78520

units: 4
ft²: 2,994

Est. cap rate 4.6% See the numbers →

MLS# 29778820 · Listed by Juana Kersey, Excel Realty · 956-280-3089, [email protected]

TypeIncome property
Year built1954
Lot0.39 acres
Price / ft²$78
Rent (MLS)$1,900/mo
Gateway International Bridge≈ 5 min approx.

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Description

INVESTMENT OPPORTUNITY!! This well-located four unit property offers excellent potential for investors looking to add to their portfolio. Three of the four units are currently occupied, providing immediate rental income, while the fourth unit is currently undergoing repairs/remodeling and offers an opportunity to increase future income potential. One of the occupied units does require some additional work. Situated in a quiet established area conveniently located near Downtown and the hospital, with easy access to shopping, dinning, schools and major thoroughfares. Whether your looking for a cash-flowing investment or a property with value-add potential, this four unit property offers an excellent opportunity to maximize its potential.

Property details

Type: Income property · Multi Family
Status: For sale
MLS#: 29778820
Price: $235,000
Price per ft²: $78
Units: 4
Living area: 2,994 ft²
Lot size: 0.39 acres
Year built: 1954
Subdivision: Riversd Prk Add
City: Brownsville
County: Cameron
Days on market: 72
Listed: Aug 17, 2026
Last updated: Aug 17, 2026, 3:54 AM CT

Numbers for investors

Price per ft²

$78

Source: MLS listing

Current rent

$1,900/mo

Gross yield 9.7%

Source: MLS listing

Days on market

Source: MLS listing

Est. fixed costs per month: $627/mo Est.
Cash to close with 25% down: $65,800 Est.
Est. cap rate: 4.6% 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.

Investment calculator · Estimates

What could it earn?

Purchase

Price

List price per the MLS. Try your own offer.

Down payment25%

100% = cash purchase, no loan.

Interest rate7%

Planning assumption, not a lender quote.

Loan term

15 yrs 20 yrs 30 yrs

Income

Monthly rent

/mo

Current rent reported in the MLS listing.

Vacancy8%

Share of the year the property sits empty.

Expenses

Property tax

/yr

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

Insurance

/yr

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

HOA

/mo

If the property has an HOA, enter the monthly dues.

Maintenance5%

% of collected rent.

Property management8%

% of collected rent, if you hire a manager.

Closing costs3%

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

I am a foreign buyer (no SSN)

Monthly cash flow Est.

−$279

With these assumptions the cash flow is negative; try a different down payment or rent.

4.6% How it’s calculated

−5.1%

Estimated monthly cost

Mortgage $1,173
Tax $431
Insurance $196
HOA $0
Operations $227

Mortgage payment (P&I): $1,173/mo
Rent after vacancy: $1,748/mo
Total monthly cost: $2,027/mo
Net operating income (NOI): $10,729/yr
Down payment: $58,750
Closing costs (est.): $7,050
Cash needed at closing: $65,800

Review these numbers with Ricardo

Illustrative estimates only, not financial advice or a guarantee of results. Assumptions are editable; taxes, insurance, rent and rates vary. Verify with a lender, insurer and CPA.

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 MLS listing: $22,800
Rent per unit (4 units), per month: $475/mo
Gross yield: rent ÷ price, before costs: 9.7%
minus Vacancy (8% of gross rent) Assumption: $1,824
equals Rent collected: $20,976
minus Property tax Estimate: $5,170
minus Insurance Estimate: $2,350
minus HOA dues, 12 months Not provided: $0
minus Maintenance (5% of rent collected) Assumption: $1,049
minus Management (8% of rent collected) Assumption: $1,678
equals Net operating income (NOI): $10,729
divided by Price MLS listing: $235,000
equals Cap rate: 4.6%

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

Is it accurate?

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

From the MLS listing: price, rent
From a rent comparable:
Your figures:
Our estimates and assumptions: property tax, insurance, vacancy, maintenance, management
Not provided, counted as $0: HOA
Missing:

MLS figures are what the listing reports. We have not verified them.
The tax on a listing is the seller’s last bill, and it can be lower than what you will pay: a homestead exemption, the 10% cap on homestead appraisals and an over-65 or disability tax ceiling do not carry over to an investor.
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

116 W Park, Brownsville, TX 78520 Open in Google Maps (opens in a new tab)

Gateway International Bridge≈ 5 min approx.
B&M International Bridge≈ 5 min approx.
UTRGV Brownsville campus≈ 5 min approx.
Veterans International Bridge at Los Tomates≈ 5 min approx.
Port of Brownsville≈ 15 min approx.
SpaceX Starbase launch site, Boca Chica≈ 35 min approx.
South Padre Island (Queen Isabella Causeway)≈ 35 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.