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# 29780717 · https://ricosalazar.com/properties/3223-west-lake-ave-brownsville-tx-78520-29780717

For sale

Single-family home

3223 West Lake Ave., Brownsville, TX 78520

$675,000

bd
4
ba
5
ft²
3,062
Est. cap rate −0.2% See the numbers →

MLS# 29780717 · Listed by Carlos Duran, Duran Realty, LLC · Tel. 956-579-9469

  • TypeSingle-family home
  • Year built2021
  • Lot0.51 acres
  • Price / ft²$220
  • HOA / month$89
  • Est. rent$2,250/mo Est.
  • Gateway International Bridge≈ 15 min approx.
Ask for a video walkthrough

Description

Discover exceptional living in this impressive property located in the prestigious Westlake Estates community. Offering an outstanding combination of space, versatility, and convenience, this beautiful residence features 4 generously sized bedrooms, 4 full bathrooms, and an additional guest half-bathroom. The home also boasts a spacious game room/family room/bonus room, a dedicated private office, and an attached storage room, providing flexibility for today's modern lifestyle. Designed with functionality in mind, the property features a unique drive-through garage with additional parking capacity for multiple vehicles in the backyard. The outdoor space also doubles as a basketball hoop play area, creating an ideal setting for recreation and entertainment. Additional amenities include a dedicated home gym, double-sided front entrance gates for added convenience and privacy, and two separate A/C units for enhanced climate control throughout the home.

Property Details

Type
Single-family home · Single Family Residence
Status
For sale
MLS#
29780717
Price
$675,000
Price per ft²
$220
Bedrooms
4
Bathrooms
5
Living area
3,062 ft²
Lot size
0.51 acres
Year built
2021
Subdivision
Westlake Estates Section Iii
City
Brownsville
County
Cameron
HOA
$89/mo
Days on market
0
Listed
Nov 3, 2026
Last updated
Nov 3, 2026, 10:14 AM CT

Key Figures

Price per ft²

$220

Source: MLS listing

Estimated rent

$2,250/mo

Gross yield 4.0%

Asking rent: median of 9 active rentals, ZIP 78520, 4 bedrooms (not signed leases) · RGV MLS, Nov 2, 2026

Days on market

0

Source: MLS listing

Est. fixed costs per month
$1,889/mo Est.
Cash to close with 25% down
$189,000 Est.
Est. cap rate
−0.2% 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 9 active rentals, ZIP 78520, 4 bedrooms (not signed leases) · RGV MLS, Nov 2, 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
$27,000
Gross yield: rent ÷ price, before costs
4.0%
minus Vacancy (8% of gross rent) Assumption
$2,160
equals Rent collected
$24,840
minus Property tax Estimate
$14,850
minus Insurance Estimate
$6,750
minus HOA dues, 12 months MLS listing
$1,068
minus Maintenance (5% of rent collected) Assumption
$1,242
minus Management (8% of rent collected) Assumption
$1,987
equals Net operating income (NOI)
−$1,057
divided by Price MLS listing
$675,000
equals Cap rate
−0.2%

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

3223 West Lake Ave., Brownsville, TX 78520 Open in Google Maps (opens in a new tab)

  • Gateway International Bridge≈ 15 min approx.
  • UTRGV Brownsville campus≈ 15 min approx.
  • B&M International Bridge≈ 15 min approx.
  • Veterans International Bridge at Los Tomates≈ 15 min approx.
  • Port of Brownsville≈ 15 min approx.
  • South Padre Island (Queen Isabella Causeway)≈ 35 min approx.
  • SpaceX Starbase launch site, Boca Chica≈ 35 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

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
Email
rico.salazar20@gmail.com
Website
https://ricosalazar.com/

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Listing office: Duran Realty, LLC

Listing agent: Carlos Duran

Office contact: 956-579-9469

MLS# 29780717 · Last updated

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$675,000Est. cap rate −0.2%

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3223 West Lake Ave., Brownsville, TX 78520 · MLS# 29780717

RICARDO SALAZAR

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