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# 29778882 · https://ricosalazar.com/properties/2029-w-michigan-harlingen-tx-78550-29778882

For sale

Single-family home

2029 W Michigan, Harlingen, TX 78550

$178,000

bd
2
ba
2
ft²
1,488
Est. cap rate 0.8% See the numbers →

MLS# 29778882 · Listed by Vanessa Alaniz, RE/MAX ELITE · Tel. 956-433-5648

  • TypeSingle-family home
  • Year built1983
  • Lot0.12 acres
  • Price / ft²$120
  • HOA / month$125
  • Est. rent$900/mo Est.
  • Gateway International Bridge≈ 40 min approx.
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Description

This lovely, totally-remodeled 2 bedroom/2 bathroom home, on the golf course, is the perfect investment for anyone looking to retire in a bustling retirement community. Complete with recent upgrades throughout, including 2 new AC units in 2020, a new dishwasher in May of 2025, and some repairs and some paint upgrades in 2026, this is the perfect opportunity for those seeking a serene sanctuary within close proximity of the city. Additional features include an air-conditioned shed, a second living room overlooking the golf course, massage jets in both showers, a widened driveway, a gas stove, and fresh paint in some areas. The community hall is within walking distance. This property is conveniently-located exactly 4.1 miles from Target & Marshalls, 3.9 miles from HEB, 45 miles from South Padre Island, and 50 miles from SpaceX. It is, also, just minutes away from restaurants, gas stations, and shopping. *Robstella Zuniga, of Keystone Abstract TX LLC, required as the Escrow Officer.*

Property Details

Type
Single-family home · Single Family Residence
Status
For sale
MLS#
29778882
Price
$178,000
Price per ft²
$120
Bedrooms
2
Bathrooms
2
Living area
1,488 ft²
Lot size
0.12 acres
Year built
1983
Subdivision
Sunshine Country Club Estates
City
Harlingen
County
Cameron
HOA
$125/mo
Days on market
72
Listed
Aug 18, 2026
Last updated
Aug 18, 2026, 5:27 PM CT

Key Figures

Price per ft²

$120

Source: MLS listing

Estimated rent

$900/mo

Gross yield 6.1%

Asking rent: median of 19 active rentals, ZIP 78550, 2 bedrooms (not signed leases) · RGV MLS, Oct 28, 2026

Days on market

72

Source: MLS listing

Est. fixed costs per month
$600/mo Est.
Cash to close with 25% down
$49,840 Est.
Est. cap rate
0.8% 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.

Estimates Only

Investment Calculator

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 19 active rentals, ZIP 78550, 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
$10,800
Gross yield: rent ÷ price, before costs
6.1%
minus Vacancy (8% of gross rent) Assumption
$864
equals Rent collected
$9,936
minus Property tax Estimate
$3,916
minus Insurance Estimate
$1,780
minus HOA dues, 12 months MLS listing
$1,500
minus Maintenance (5% of rent collected) Assumption
$497
minus Management (8% of rent collected) Assumption
$795
equals Net operating income (NOI)
$1,448
divided by Price MLS listing
$178,000
equals Cap rate
0.8%

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: 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

2029 W Michigan, Harlingen, TX 78550 Open in Google Maps (opens in a new tab)

  • Gateway International Bridge≈ 40 min approx.
  • UTRGV Brownsville campus≈ 40 min approx.
  • B&M International Bridge≈ 40 min approx.
  • Port of Brownsville≈ 40 min approx.
  • Veterans International Bridge at Los Tomates≈ 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

Financing for Foreign Buyers

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/

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Listing office: RE/MAX ELITE

Listing agent: Vanessa Alaniz

Office contact: 956-433-5648

MLS# 29778882 · Last updated

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$178,000Est. cap rate 0.8%

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2029 W Michigan, Harlingen, TX 78550 · MLS# 29778882

RICARDO SALAZAR

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