Ricardo Salazar REALTOR® · RCR Real Connect Realty
WhatsApp

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

Investor sheet · MLS# 29778504 · https://ricosalazar.com/properties/1224-e-harrison-st-brownsville-tx-78520-29778504

For sale

$115,000

1224 E Harrison St., Brownsville, TX 78520

bd
3
ba
1
ft²
1,558
Est. cash flow +$560/mo · Est. cap rate 11.8% See the numbers →

MLS# 29778504 · Listed by Ramiro Martinez, Endure Real Estate, LLC · Tel. 956-466-4593

  • TypeSingle-family home
  • Year built1925
  • Lot0.14 acres
  • Price / ft²$74
  • Est. rent$1,800/mo Est.
  • UTRGV Brownsville campus≈ 5 min approx.
Virtual tour (opens another website in a new tab) Ask for a video walkthrough

Description

Investor opportunity in the downtown area! Owner Finance available. The main residence has 3 bedrooms and 1 bathroom. A separate 2-bedroom apartment has a toilet room and separate shower area and currently rents for $675 per month, utilities included. The rear portion includes an apx. 3,000-sq-ft area that may offer development potential, subject to zoning, setbacks, permits, utilities, and governmental approval. The owner has a proposed floor plan for the rear area available for review. Zoned TN—Traditional Neighborhood and located within the Downtown Renaissance Master Plan boundary. County appraisal records reflect two apx. 3,000-sq-ft land sections. Buyer should verify zoning, lot configuration, dimensions, condition, permitted uses, rental information, and development potential and should independently determine whether the existing structures can be repaired, renovated, restored, or whether redevelopment is appropriate.

Property details

Type
Single-family home · Single Family Residence
Status
For sale
MLS#
29778504
Price
$115,000
Price per ft²
$74
Bedrooms
3
Bathrooms
1
Living area
1,558 ft²
Lot size
0.14 acres
Year built
1925
Subdivision
Brownsville Original Townsite
City
Brownsville
County
Cameron
Days on market
85
Listed
Aug 5, 2026
Last updated
Sep 17, 2026, 9:42 PM CT

Numbers for investors

Price per ft²

$74

Source: MLS listing

Estimated rent

$1,800/mo

Gross yield 18.8%

Asking rent: median of 15 active rentals, ZIP 78520, 3 bedrooms (not signed leases) · RGV MLS, Oct 29, 2026

Days on market

85

Source: MLS listing

Est. fixed costs per month
$307/mo Est.
Cash to close with 25% down
$32,200 Est.
Est. cap rate
11.8% 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

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 15 active rentals, ZIP 78520, 3 bedrooms (not signed leases) · RGV MLS, Oct 29, 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

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

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
$21,600
Gross yield: rent ÷ price, before costs
18.8%
minus Vacancy (8% of gross rent) Assumption
$1,728
equals Rent collected
$19,872
minus Property tax Estimate
$2,530
minus Insurance Estimate
$1,150
minus HOA dues, 12 months Not provided
$0
minus Maintenance (5% of rent collected) Assumption
$994
minus Management (8% of rent collected) Assumption
$1,590
equals Net operating income (NOI)
$13,609
divided by Price MLS listing
$115,000
equals Cap rate
11.8%

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
  • Our estimates and assumptions: rent, property tax, insurance, vacancy, maintenance, management
  • Not provided, counted as $0: HOA
  • 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

1224 E Harrison St., Brownsville, TX 78520 Open in Google Maps (opens in a new tab)

  • UTRGV Brownsville campus≈ 5 min approx.
  • Gateway International Bridge≈ 5 min approx.
  • B&M International Bridge≈ 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.

Schematic

Approximate positions; not a navigation map.

  1. Port of Brownsville
  2. SpaceX Starbase
  3. South Padre Island
  4. Brownsville
  5. Los Fresnos
  6. Rancho Viejo · Olmito

Base map data © OpenStreetMap

Buying from Mexico with a loan?

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
Website
https://ricosalazar.com/

Schedule a showing (in person or by video)

About: 1224 E Harrison St. · MLS# 29778504

Optional if you leave a WhatsApp or phone number.

No obligation

Single-family home · Brownsville

Similar properties

See all in Brownsville

Listing office: Endure Real Estate, LLC

Listing agent: Ramiro Martinez

Office contact: 956-466-4593

MLS# 29778504 · Last updated

Want a second opinion on this one?

Ricardo can review the numbers, the area and the next steps with you, in Spanish or English.

Message on WhatsApp Write to Ricardo
$115,000Est. cash flow +$560/mo

1 / 24

1224 E Harrison St., Brownsville, TX 78520 · MLS# 29778504