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# 29776946 · https://ricosalazar.com/properties/348-san-luis-dr-brownsville-tx-78521-29776946

For sale

$245,000

Price cut $5K

348 San Luis Dr., Brownsville, TX 78521

bd
3
ba
4
ft²
2,915
Est. cap rate 4.2% See the numbers →

MLS# 29776946 · Listed by Samantha De La Rosa, CORNERSTONE TX REALTY · Tel. 956-203-8552

  • TypeSingle-family home
  • Year built1976
  • Lot0.14 acres
  • Price / ft²$84
  • Est. rent$1,900/mo Est.
  • Port of Brownsville≈ 5 min approx.
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Description

Spacious 3-bedroom, 3-bath home featuring an office, 2 living areas, 2 dining areas, and a half bath located in the laundry room. The kitchen offers tile countertops, a tile backsplash, and a walk-in pantry. Additional features include tile flooring throughout, a fireplace, gated front entrance, carport, and a charming courtyard-style front entry. With plenty of space for a large family or entertaining guests, this home provides room for everyday living and special gatherings. Refrigerator and gas stove convey. Situated on two lots and located in a cul-de-sac, this property offers additional outdoor space and privacy. The fully fenced backyard features a covered wooden structure with a brick grill, brick oven, and chimney, creating a great space for outdoor cooking and entertaining. Two storage sheds will also convey with the property. Conveniently located within walking distance to Starbucks and near restaurants, shopping, and gas stations.

Property details

Type
Single-family home · Single Family Residence
Status
For sale
MLS#
29776946
Price
$245,000
Price per ft²
$84
Bedrooms
3
Bathrooms
4
Living area
2,915 ft²
Lot size
0.14 acres
Year built
1976
Subdivision
Minnesota Est
City
Brownsville
County
Cameron
Days on market
146
Listed
Jun 4, 2026
Last updated
Sep 27, 2026, 4:57 PM CT

Numbers for investors

Price per ft²

$84

Source: MLS listing

Estimated rent

$1,900/mo

Gross yield 9.3%

Asking rent: median of 23 active rentals, ZIP 78521, 3 bedrooms (not signed leases) · RGV MLS, Oct 28, 2026

Days on market

146

Source: MLS listing

Est. fixed costs per month
$653/mo Est.
Cash to close with 25% down
$68,600 Est.
Est. cap rate
4.2% 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.

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 23 active rentals, ZIP 78521, 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

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 Estimate
$22,800
Gross yield: rent ÷ price, before costs
9.3%
minus Vacancy (8% of gross rent) Assumption
$1,824
equals Rent collected
$20,976
minus Property tax Estimate
$5,390
minus Insurance Estimate
$2,450
minus HOA dues, 12 months Not provided
$0
minus Maintenance (5% of rent collected) Assumption
$1,049
minus Management (8% of rent collected) Assumption
$1,678
equals Net operating income (NOI)
$10,409
divided by Price MLS listing
$245,000
equals Cap rate
4.2%

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
  • Our estimates and assumptions: rent, property tax, insurance, vacancy, maintenance, management
  • Not provided, counted as $0: HOA
  • 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

348 San Luis Dr., Brownsville, TX 78521 Open in Google Maps (opens in a new tab)

  • Port of Brownsville≈ 5 min approx.
  • UTRGV Brownsville campus≈ 10 min approx.
  • Veterans International Bridge at Los Tomates≈ 10 min approx.
  • Gateway International Bridge≈ 10 min approx.
  • B&M International Bridge≈ 10 min approx.
  • SpaceX Starbase launch site, Boca Chica≈ 25 min approx.
  • South Padre Island (Queen Isabella Causeway)≈ 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: CORNERSTONE TX REALTY

Listing agent: Samantha De La Rosa

Office contact: 956-203-8552

MLS# 29776946 · Last updated

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$245,000Est. cap rate 4.2%

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348 San Luis Dr., Brownsville, TX 78521 · MLS# 29776946