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

Investor sheet · MLS# 29775180 · https://ricosalazar.com/properties/139-heron-dr-los-fresnos-tx-78566-29775180

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For sale

$335,000

Price cut $15K

139 Heron Dr, Los Fresnos, TX 78566

bd: 3
ba: 3
ft²: 1,991

Est. cap rate 1.4% See the numbers →

MLS# 29775180 · Listed by Debbie Alford, Alford Hometown Realty · Tel. 956-459-5325

TypeSingle-family home
Year built2021
Lot0.2 acres
Price / ft²$168
Est. rent$1,600/mo Est.
Port of Brownsville≈ 15 min approx.

Virtual tour Ask for a video walkthrough

Description

Lovely home, never lived in with lowest price in neighborhood! Located in a modern neighborhood off HWY 100 on the way to South Padre Island! Close to high performing schools, grocery stores, and City Hall. 40 minutes to SpaceX, 30 minutes to South Padre Island and15 minutes to LNG. Enjoy the open-concept kitchen and living area with quartz counters and lots of storage in the custom cabinets. Beautiful porcelain floors, decorative tile backsplash. Oversized showers. Double shower heads in Primary shower. Custom cabinets in all closets, kitchen and baths. Be delighted by low electric bills with foam insulation in walls and ceiling! Semi-fenced yard. Enjoy living on a cul-de-sac. Big trucks and small boats should fit perfectly in the oversized garage. Utility worker can park truck in driveway. Boats and trailers okay in driveway! No HOA! Come enjoy the close-knit community of sunny Los Fresnos where you are always treated like family! Stove negotiable. Call for a showing today!

Property details

Type: Single-family home · Single Family Residence
Status: For sale
MLS#: 29775180
Price: $335,000
Price per ft²: $168
Bedrooms: 3
Bathrooms: 3
Living area: 1,991 ft²
Lot size: 0.2 acres
Year built: 2021
Subdivision: Feather Ridge
City: Los Fresnos
County: Cameron
Days on market: 216
Listed: Mar 26, 2026
Last updated: Oct 6, 2026, 2:56 PM CT

Numbers for investors

Price per ft²

$168

Source: MLS listing

Estimated rent

$1,600/mo

Gross yield 5.7%

Asking rent: median of 5 active rentals, ZIP 78566, 3 bedrooms (not signed leases) · RGV MLS, Oct 28, 2026

Days on market

216

Source: MLS listing

Est. fixed costs per month: $893/mo Est.
Cash to close with 25% down: $93,800 Est.
Est. cap rate: 1.4% 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 5 active rentals, ZIP 78566, 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

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.

−$1,284

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

1.4% How it’s calculated

−16.4%

Estimated monthly cost

Mortgage $1,672
Tax $614
Insurance $279
HOA $0
Operations $191

Mortgage payment (P&I): $1,672/mo
Rent after vacancy: $1,472/mo
Total monthly cost: $2,756/mo
Net operating income (NOI): $4,648/yr
Down payment: $83,750
Closing costs (est.): $10,050
Cash needed at closing: $93,800

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 Estimate: $19,200
Gross yield: rent ÷ price, before costs: 5.7%
minus Vacancy (8% of gross rent) Assumption: $1,536
equals Rent collected: $17,664
minus Property tax Estimate: $7,370
minus Insurance Estimate: $3,350
minus HOA dues, 12 months Not provided: $0
minus Maintenance (5% of rent collected) Assumption: $883
minus Management (8% of rent collected) Assumption: $1,413
equals Net operating income (NOI): $4,648
divided by Price MLS listing: $335,000
equals Cap rate: 1.4%

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
From a rent comparable:
Your figures:
Our estimates and assumptions: rent, 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

139 Heron Dr, Los Fresnos, TX 78566 Open in Google Maps (opens in a new tab)

Port of Brownsville≈ 15 min approx.
UTRGV Brownsville campus≈ 20 min approx.
Gateway International Bridge≈ 20 min approx.
B&M International Bridge≈ 20 min approx.
Veterans International Bridge at Los Tomates≈ 20 min approx.
South Padre Island (Queen Isabella Causeway)≈ 25 min approx.
SpaceX Starbase launch site, Boca Chica≈ 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.