REALTOR® · TREC #643769
Ricardo Salazar
RCR Real Connect Realty
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Ricardo Salazar · REALTOR® · TREC #643769 · RCR Real Connect Realty (broker license #9012393)
Investor sheet · MLS# 29772002 · https://ricosalazar.com/properties/1398-harbor-island-dr-port-isabel-tx-78578-29772002
Single-family home
1398 Harbor Island Dr., Port Isabel, TX 78578
$489,000
Price cut $36K- bd
- 4
- ba
- 3
- ft²
- 2,397
MLS# 29772002 · Listed by Noe Ortiz, Realty One Group, Modern Edge · 956-908-0325, [email protected]
- TypeSingle-family home
- Year built2002
- Lot0.05 acres
- Price / ft²$204
- South Padre Island (Queen Isabella Causeway)≈ 5 min approx.
Description
Discover coastal living at its finest in Port Isabel! Perfectly positioned at the entrance to the coveted Fingers of the Laguna Madre, this property offers the ideal blend of bayfront charm and island convenience. Enjoy quick access to open waters, breathtaking sunrises, and peaceful coastal breezes—all just minutes from the beaches, dining, and entertainment of South Padre Island. Whether you're looking for a weekend retreat, investment opportunity, or full-time waterfront lifestyle, this location delivers the ultimate Texas Gulf Coast experience. Coastal convenience. Prime location. Endless potential.
Property Details
- Type
- Single-family home · Single Family Residence
- Status
- For sale
- MLS#
- 29772002
- Price
- $489,000
- Price per ft²
- $204
- Bedrooms
- 4
- Bathrooms
- 3
- Living area
- 2,397 ft²
- Lot size
- 0.05 acres
- Year built
- 2002
- Subdivision
- Harbor Island
- City
- Port Isabel
- County
- Cameron
- Days on market
- 261
- Listed
- Feb 11, 2026
- Last updated
- Jun 18, 2026, 4:28 PM CT
Key Figures
Price per ft²
$204
Source: MLS listing
Days on market
261
Source: MLS listing
- Est. fixed costs per month
- $1,304/mo Est.
- Cash to close with 25% down
- $136,920 Est.
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
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 Not provided
- —
- Gross yield: rent ÷ price, before costs
- —
- minus Vacancy (8% of gross rent) Assumption
- —
- equals Rent collected
- —
- minus Property tax Estimate
- $10,758
- minus Insurance Estimate
- $4,890
- minus HOA dues, 12 months Not provided
- $0
- minus Maintenance (5% of rent collected) Assumption
- —
- minus Management (8% of rent collected) Assumption
- —
- equals Net operating income (NOI)
- —
- divided by Price MLS listing
- $489,000
- equals Cap rate
- —
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:
- From a rent comparable:
- Your figures:
- Our estimates and assumptions:
- Not provided, counted as $0:
- Missing: the monthly rent. Enter it to get a cap rate.
- 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
1398 Harbor Island Dr., Port Isabel, TX 78578 Open in Google Maps (opens in a new tab)
- South Padre Island (Queen Isabella Causeway)≈ 5 min approx.
- Port of Brownsville≈ 25 min approx.
- UTRGV Brownsville campus≈ 30 min approx.
- Veterans International Bridge at Los Tomates≈ 30 min approx.
- Gateway International Bridge≈ 30 min approx.
- B&M International Bridge≈ 30 min approx.
- SpaceX Starbase launch site, Boca Chica≈ 45 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.
- Port of Brownsville
- SpaceX Starbase
- South Padre Island
- Brownsville
- Los Fresnos
- Rancho Viejo · Olmito
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.
Ask About This Property
- Phone / WhatsApp
- +1 (956) 592-5052
- rico.salazar20@gmail.com
- Website
- https://ricosalazar.com/
Message Received
Ricardo has your message and will reply through the channel you chose.
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Listing office: Realty One Group, Modern Edge
Listing agent: Noe Ortiz
Office contact: 956-908-0325, [email protected]
MLS# 29772002 · Last updated
Contact
Get a Second Opinion
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