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# 29777244 · https://ricosalazar.com/properties/23124-fm-345-rio-hondo-tx-78583-29777244
Single-family home
23124 Fm 345, Rio Hondo, TX 78583
$349,997
Price cut $3- bd
- 3
- ba
- 2
- ft²
- 2,618
MLS# 29777244 · Listed by Michael Hernandez, KELLER WILLIAMS LRGV · Tel. 956-423-8877
- TypeSingle-family home
- Year built1982
- Lot1.53 acres
- Price / ft²$134
- Port of Brownsville≈ 35 min approx.
Description
LOCATION, LOCATION, LOCATION! Welcome to country living at 23124 FM 345 in Rio Hondo, TX. Discover the perfect blend of country living and convenience on this Rio Hondo property resting on approximately 1.53 acres. This beautiful home offers 3 bedrooms, 2 bathrooms, and over 2,600 square feet of living space, and even a water well on site. You will also find the amazing upgrades of an outdoor chimney, and a spacious covered carport perfect for entertaining, inviting the whole family, or just to enjoy the peaceful surroundings. There are so many possibilities for outdoor activities, gardening, workshop space, or future improvements. Enjoy country living on FM 345 walking distance from the Rio Hondo schools, local amenities, minutes from Harlingen, short drive to San Benito and the Texas Gulf Coast and Arroyo City. Experience the space, privacy, and lifestyle that Rio Hondo has to offer—schedule your private showing today! There are not many nice homes with acreage at this price!
Property Details
- Type
- Single-family home · Single Family Residence
- Status
- For sale
- MLS#
- 29777244
- Price
- $349,997
- Price per ft²
- $134
- Bedrooms
- 3
- Bathrooms
- 2
- Living area
- 2,618 ft²
- Lot size
- 1.53 acres
- Year built
- 1982
- Subdivision
- J Magill Smith
- City
- Rio Hondo
- County
- Cameron
- Days on market
- 136
- Listed
- Jun 16, 2026
- Last updated
- Oct 8, 2026, 9:00 AM CT
Key Figures
Price per ft²
$134
Source: MLS listing
Days on market
136
Source: MLS listing
- Est. fixed costs per month
- $933/mo Est.
- Cash to close with 25% down
- $97,999 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
- $7,700
- minus Insurance Estimate
- $3,500
- 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
- $349,997
- 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
23124 Fm 345, Rio Hondo, TX 78583 Open in Google Maps (opens in a new tab)
- Port of Brownsville≈ 35 min approx.
- Gateway International Bridge≈ 35 min approx.
- UTRGV Brownsville campus≈ 35 min approx.
- B&M International Bridge≈ 35 min approx.
- Veterans International Bridge at Los Tomates≈ 35 min approx.
- South Padre Island (Queen Isabella Causeway)≈ 35 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
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
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Listing office: KELLER WILLIAMS LRGV
Listing agent: Michael Hernandez
Office contact: 956-423-8877
MLS# 29777244 · Last updated
Contact
Get a Second Opinion
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