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# 29763156 · https://ricosalazar.com/properties/2301-riverside-dr-harlingen-tx-78550-29763156

For sale

$1,050,000

Price cut $275K

2301 Riverside Dr., Harlingen, TX 78550

bd
7
ba
6
ft²
7,914
No rent in the MLS: run cash flow with your own estimate Run the numbers →

MLS# 29763156 · Listed by Annette Baker, Coldwell Banker La Mansion Real Estate Har · Tel. 956-425-7098

  • TypeSingle-family home
  • Year built1955
  • Lot2.5 acres
  • Price / ft²$133
  • Gateway International Bridge≈ 35 min approx.
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Description

Overlooking the Arroyo Colorado,this 2.5 acre sprawling estate is just minutes away from the hospitals and the International airport. A long drive leads to a 7,914sf home with 7 bedrooms and 6 bathrooms. Double doors open to granite floors, solid wood dentil molding, and a carefully crafted wood staircase.Tradition meets modern in multiple living/dining spaces that are finished with ornamental molding, fireplaces and have expansive views of the grounds.The kitchen is no exception with granite counters and windows in lieu of a backsplash.Just off the kitchen, is a breakfast room and butler's pantry. An office, craft room, and guest suite are downstairs while there are 4 other bedrooms upstairs. The master boasts an exercise room and spa like bathroom. A portico connects a guest house and laundry room. Lush greenery is the setting for an oversized pool, patio, and outdoor kitchen area. An airconditioned 6 car garage will also house a boat or RV. Let this home become your personal resort.

Property details

Type
Single-family home · Single Family Residence
Status
For sale
MLS#
29763156
Price
$1,050,000
Price per ft²
$133
Bedrooms
7
Bathrooms
6
Living area
7,914 ft²
Lot size
2.5 acres
Year built
1955
Subdivision
Riverside Park
City
Harlingen
County
Cameron
Days on market
615
Listed
Feb 20, 2025
Last updated
Oct 6, 2026, 5:24 PM CT

Numbers for investors

Price per ft²

$133

Source: MLS listing

Days on market

615

Source: MLS listing

Est. fixed costs per month
$2,800/mo Est.
Cash to close with 25% down
$294,000 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.

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

The MLS does not publish a rent for this property. Enter your own estimate or ask Ricardo for rent comps in the area.

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

If the property has an HOA, enter the monthly dues.

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 Not provided
—
Gross yield: rent ÷ price, before costs
—
minus Vacancy (8% of gross rent) Assumption
—
equals Rent collected
—
minus Property tax Estimate
$23,100
minus Insurance Estimate
$10,500
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
$1,050,000
equals Cap rate
—

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:

  • Missing: the monthly rent. Enter it to get a cap rate.
  • 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

2301 Riverside Dr., Harlingen, TX 78550 Open in Google Maps (opens in a new tab)

  • Gateway International Bridge≈ 35 min approx.
  • UTRGV Brownsville campus≈ 35 min approx.
  • B&M International Bridge≈ 35 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.

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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Single-family home · Harlingen

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Listing office: Coldwell Banker La Mansion Real Estate Har

Listing agent: Annette Baker

Office contact: 956-425-7098

MLS# 29763156 · Last updated

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$1,050,000Est. cost $8,039/mo

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2301 Riverside Dr., Harlingen, TX 78550 · MLS# 29763156