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# 29779959 · https://ricosalazar.com/properties/3201-grotto-dr-brownsville-tx-78526-29779959

For sale

$265,000

3201 Grotto Dr., Brownsville, TX 78526

bd
3
ba
2
ft²
1,610
Est. cap rate 4.0% See the numbers →

MLS# 29779959 · Listed by Liz Givens, Sapphire Prime Realty · 956-266-4919, [email protected]

  • TypeSingle-family home
  • Year built2005
  • Lot0.13 acres
  • Price / ft²$165
  • HOA / month$5
  • Est. rent$2,000/mo Est.
  • UTRGV Brownsville campus≈ 10 min approx.
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Description

Welcome home to this beautifully maintained 3-bedroom, 2-bath residence offering a comfortable open-concept floor plan and a great location. The spacious kitchen features abundant counter space, granite countertops, and plenty of room for meal preparation and entertaining. Ceramic tile flooring adds both style and easy maintenance throughout the home, while generously sized rooms with walk-in closets provide excellent storage. A convenient two-car garage offers additional functionality and storage. Located in a centrally situated community near schools, shopping, Expressway, etc...Residents also enjoy access to a walking and biking trail and a neighborhood park—perfect for enjoying the outdoors. With its inviting layout, desirable features, and convenient location, this home is ready to welcome its next owner. Currently leased at $1850.00 per month until July 2027

Property details

Type
Single-family home · Single Family Residence
Status
For sale
MLS#
29779959
Price
$265,000
Price per ft²
$165
Bedrooms
3
Bathrooms
2
Living area
1,610 ft²
Lot size
0.13 acres
Year built
2005
Subdivision
Parkview
City
Brownsville
County
Cameron
HOA
$5/mo
Days on market
27
Listed
Oct 2, 2026
Last updated
Oct 2, 2026, 11:14 AM CT

Numbers for investors

Price per ft²

$165

Source: MLS listing

Estimated rent

$2,000/mo

Gross yield 9.1%

Asking rent: median of 27 active rentals, ZIP 78526, 3 bedrooms (not signed leases) · RGV MLS, Oct 28, 2026

Days on market

27

Source: MLS listing

Est. fixed costs per month
$712/mo Est.
Cash to close with 25% down
$74,200 Est.
Est. cap rate
4.0% 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 27 active rentals, ZIP 78526, 3 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
$24,000
Gross yield: rent ÷ price, before costs
9.1%
minus Vacancy (8% of gross rent) Assumption
$1,920
equals Rent collected
$22,080
minus Property tax Estimate
$5,830
minus Insurance Estimate
$2,650
minus HOA dues, 12 months MLS listing
$60
minus Maintenance (5% of rent collected) Assumption
$1,104
minus Management (8% of rent collected) Assumption
$1,766
equals Net operating income (NOI)
$10,670
divided by Price MLS listing
$265,000
equals Cap rate
4.0%

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

3201 Grotto Dr., Brownsville, TX 78526 Open in Google Maps (opens in a new tab)

  • UTRGV Brownsville campus≈ 10 min approx.
  • Gateway International Bridge≈ 10 min approx.
  • Port of Brownsville≈ 10 min approx.
  • B&M International Bridge≈ 10 min approx.
  • Veterans International Bridge at Los Tomates≈ 10 min approx.
  • South Padre Island (Queen Isabella Causeway)≈ 30 min approx.
  • SpaceX Starbase launch site, Boca Chica≈ 30 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.

  1. Port of Brownsville
  2. SpaceX Starbase
  3. South Padre Island
  4. Brownsville
  5. Los Fresnos
  6. Rancho Viejo · Olmito

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 · Brownsville

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Listing office: Sapphire Prime Realty

Listing agent: Liz Givens

Office contact: 956-266-4919, [email protected]

MLS# 29779959 · Last updated

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$265,000Est. cap rate 4.0%

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3201 Grotto Dr., Brownsville, TX 78526 · MLS# 29779959