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

Investor sheet · MLS# 29776094 · https://ricosalazar.com/properties/1321-oak-st-harlingen-tx-78552-29776094

For sale

$239,500

1321 Oak St., Harlingen, TX 78552

bd: 3
ba: 2
ft²: 1,485

Est. cap rate 2.9% See the numbers →

MLS# 29776094 · Listed by Jeff Walker, WALKER REALTY · Tel. 956-968-8317

TypeSingle-family home
Year built2005
Lot0.1 acres
Price / ft²$161
HOA / month$140
Est. rent$1,700/mo Est.
Gateway International Bridge≈ 30 min approx.

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Description

NICE, very well-kept move in condition, 3 bedrooms, 2 baths, 2 car garage brick home situated in Cottonwood Creek a 55+ retirement. This serene gated golf course community provides added peace of mind and offers a vibrant, social atmosphere with plenty of activities & amenities to offer such as, a 9-hole par 3-golf course open to the public, tennis courts, pickle ball, heated pool, hot tub, shuffleboard, gym, a subdivision that is sure to please. Enter a nice foyer that leads into a pleasant living and dining area that open into the well laid out kitchen, delightful lightly stained custom ash cabinets with granite tops. All nice quality appliance including a washer & dryer. Bedrooms are ample sized especially the main bedroom & bath with 2 walk in closets, double bowl vanity, garden tub & shower. The 3rd bedroom has a Murphy bed. enclosed patio that leads out to the open patio, pergola. A permanently installed Genarac generator for peace of mind & comfort for when you loose power.

Property details

Type: Single-family home · Single Family Residence
Status: For sale
MLS#: 29776094
Price: $239,500
Price per ft²: $161
Bedrooms: 3
Bathrooms: 2
Living area: 1,485 ft²
Lot size: 0.1 acres
Year built: 2005
Subdivision: Harlingen- Cottonwood
City: Harlingen
County: Cameron
HOA: $140/mo
Days on market: 181
Listed: May 1, 2026
Last updated: Jul 21, 2026, 8:06 PM CT

Numbers for investors

Price per ft²

$161

Source: MLS listing

Estimated rent

$1,700/mo

Gross yield 8.5%

Asking rent: median of 9 active rentals, ZIP 78552, 3 bedrooms (not signed leases) · RGV MLS, Oct 28, 2026

Days on market

181

Source: MLS listing

Est. fixed costs per month: $779/mo Est.
Cash to close with 25% down: $67,060 Est.
Est. cap rate: 2.9% 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

Asking rent: median of 9 active rentals, ZIP 78552, 3 bedrooms (not signed leases) · RGV MLS, Oct 28, 2026

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

Monthly dues per the MLS listing.

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.

−$613

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

2.9% How it’s calculated

−11.0%

Estimated monthly cost

Mortgage $1,195
Tax $439
Insurance $200
HOA $140
Operations $203

Mortgage payment (P&I): $1,195/mo
Rent after vacancy: $1,564/mo
Total monthly cost: $2,177/mo
Net operating income (NOI): $6,984/yr
Down payment: $59,875
Closing costs (est.): $7,185
Cash needed at closing: $67,060

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 Estimate: $20,400
Gross yield: rent ÷ price, before costs: 8.5%
minus Vacancy (8% of gross rent) Assumption: $1,632
equals Rent collected: $18,768
minus Property tax Estimate: $5,269
minus Insurance Estimate: $2,395
minus HOA dues, 12 months MLS listing: $1,680
minus Maintenance (5% of rent collected) Assumption: $938
minus Management (8% of rent collected) Assumption: $1,501
equals Net operating income (NOI): $6,984
divided by Price MLS listing: $239,500
equals Cap rate: 2.9%

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

1321 Oak St., 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.

Texas · USA Tamaulipas · Mexico Matamoros Port Isabel Laguna Madre Gulf Rio Grande Ship channel I-69E SH 48 SH 4 SH 100 3 international bridges3 bridges UTRGV