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

Investor sheet · MLS# 29776898 · https://ricosalazar.com/properties/1400-palm-valley-dr-harlingen-tx-78552-29776898

For sale

$162,000

Price cut $17K

1400 Palm Valley Dr., Harlingen, TX 78552

bd
2
ba
2
ft²
1,295
Est. cap rate 2.1% See the numbers →

MLS# 29776898 · Listed by Diana Haire, Coldwell Banker La Mansion Real Estate Har · Tel. 956-425-7098

  • TypeCondo / townhome
  • Year built1984
  • Price / ft²$125
  • HOA / month$259
  • Est. rent$1,225/mo Est.
  • Gateway International Bridge≈ 40 min approx.
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Description

Welcome to 1400 Palm Valley Dr. Unit #25 located in the desirable Harlingen Country Club community. This beautifully maintained **fully furnished** 2-bedroom, 2-bath condo offers approximately 1,295 square feet of comfortable, move-in ready living. Step inside to discover spacious living and dining areas filled with natural light and pool views. The functional kitchen provides ample storage and workspace. Just off the kitchen is a nice sized office with built-in desk. Located inside the office closet is a full-sized washer & dryer. The primary suite is large enough for a king sized bed & offers access to a private patio enclosed by a brick privacy wall. Perfect for morning coffee or relaxing evenings. The primary bathroom features a tub/shower combination. The 2nd bedroom is also quite spacious. Guest bath has a stall shower. HOA includes lawn maintenance, water, trash and access to the community pool for easy, low-maintenance living.

Property details

Type
Condo / townhome · Condominium
Status
For sale
MLS#
29776898
Price
$162,000
Price per ft²
$125
Bedrooms
2
Bathrooms
2
Living area
1,295 ft²
Year built
1984
Subdivision
Las Provincias
City
Harlingen
County
Cameron
HOA
$259/mo
Days on market
147
Listed
Jun 3, 2026
Last updated
Oct 20, 2026, 11:21 AM CT

Numbers for investors

Price per ft²

$125

Source: MLS listing

Estimated rent

$1,225/mo

Gross yield 9.1%

Asking rent: median of 5 active rentals, ZIP 78552, 2 bedrooms (not signed leases) · RGV MLS, Oct 28, 2026

Days on market

147

Source: MLS listing

Est. fixed costs per month
$691/mo Est.
Cash to close with 25% down
$45,360 Est.
Est. cap rate
2.1% 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 5 active rentals, ZIP 78552, 2 bedrooms (not signed leases) · RGV MLS, Oct 28, 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

Monthly dues per the MLS listing.

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
$14,700
Gross yield: rent ÷ price, before costs
9.1%
minus Vacancy (8% of gross rent) Assumption
$1,176
equals Rent collected
$13,524
minus Property tax Estimate
$3,564
minus Insurance Estimate
$1,620
minus HOA dues, 12 months MLS listing
$3,108
minus Maintenance (5% of rent collected) Assumption
$676
minus Management (8% of rent collected) Assumption
$1,082
equals Net operating income (NOI)
$3,474
divided by Price MLS listing
$162,000
equals Cap rate
2.1%

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
  • Our estimates and assumptions: rent, property tax, insurance, vacancy, maintenance, management
  • 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

1400 Palm Valley Dr., Harlingen, TX 78552 Open in Google Maps (opens in a new tab)

  • Gateway International Bridge≈ 40 min approx.
  • B&M International Bridge≈ 40 min approx.
  • UTRGV Brownsville campus≈ 40 min approx.
  • Veterans International Bridge at Los Tomates≈ 40 min approx.
  • Port of Brownsville≈ 40 min approx.
  • South Padre Island (Queen Isabella Causeway)≈ 50 min approx.
  • SpaceX Starbase launch site, Boca Chica≈ 60 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.

  • Area (opens its page)
  • International bridge
  • Main highway
  • Ship channel

Gateway Bridge to South Padre Island: ≈ 37 km (23 mi) in a straight line.

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.

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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/

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Condo / townhome · Harlingen

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Listing office: Coldwell Banker La Mansion Real Estate Har

Listing agent: Diana Haire

Office contact: 956-425-7098

MLS# 29776898 · Last updated

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$162,000Est. cap rate 2.1%

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1400 Palm Valley Dr., Harlingen, TX 78552 · MLS# 29776898