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# 29780265 · https://ricosalazar.com/properties/39785-palm-dr-los-fresnos-tx-78566-29780265

For sale

$474,000

39785 Palm Dr., Los Fresnos, TX 78566

bd
3
ba
3
ft²
2,118
Est. cap rate 0.0% See the numbers →

MLS# 29780265 · Listed by Tony Altermatt, Palm Breeze Real Estate LLC · Tel. 956-433-5333

  • TypeSingle-family home
  • Year built2005
  • Lot1.55 acres
  • Price / ft²$224
  • Est. rent$1,600/mo Est.
  • South Padre Island (Queen Isabella Causeway)≈ 20 min approx.
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Description

Peaceful Country living yet close to the beach, shopping, restaurants, Golf & airports. Fully fenced 1.54 acres Corner lot with 158' frontage of the gorgeous Resaca water view. Natural light throughout this Beautiful open concept 2,000+ sq ft 3/2.5/2. Great room with 2 sliding doors to enjoy the water view. Remodeled kitchen has Quartz counter tops w/movable center island, walk in pantry, stainless steel appliances & farmer sink. Primary bedroom has a water view from a sliding door w/covered patio access, walk in closet w/many built ins. Double sinks & vanity sitting area w/Quartz, abundance of cabinets, soaking tub, tiled shower & private water closet. 2 car garage w/an extra large area that could be an office. 12 x 12 shed. Plenty of room to add a pool, horses & a garden! Remodeled since 2022: Roof on house & shed, Exterior, interior & cabinets painted, LVT flooring, Generator, water softener, PVC plumbing, sprinkler, both A/C units & much more-ask for the flier for the complete list

Property details

Type
Single-family home · Single Family Residence
Status
For sale
MLS#
29780265
Price
$474,000
Price per ft²
$224
Bedrooms
3
Bathrooms
3
Living area
2,118 ft²
Lot size
1.55 acres
Year built
2005
Subdivision
Tierra De Las Palmas
City
Los Fresnos
County
Cameron
Days on market
13
Listed
Oct 15, 2026
Last updated
Oct 15, 2026, 5:00 PM CT

Numbers for investors

Price per ft²

$224

Source: MLS listing

Estimated rent

$1,600/mo

Gross yield 4.1%

Asking rent: median of 5 active rentals, ZIP 78566, 3 bedrooms (not signed leases) · RGV MLS, Oct 28, 2026

Days on market

13

Source: MLS listing

Est. fixed costs per month
$1,264/mo Est.
Cash to close with 25% down
$132,720 Est.
Est. cap rate
0.0% 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 5 active rentals, ZIP 78566, 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
$19,200
Gross yield: rent ÷ price, before costs
4.1%
minus Vacancy (8% of gross rent) Assumption
$1,536
equals Rent collected
$17,664
minus Property tax Estimate
$10,428
minus Insurance Estimate
$4,740
minus HOA dues, 12 months Not provided
$0
minus Maintenance (5% of rent collected) Assumption
$883
minus Management (8% of rent collected) Assumption
$1,413
equals Net operating income (NOI)
$200
divided by Price MLS listing
$474,000
equals Cap rate
0.0%

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
  • 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

39785 Palm Dr., Los Fresnos, TX 78566 Open in Google Maps (opens in a new tab)

  • South Padre Island (Queen Isabella Causeway)≈ 20 min approx.
  • Port of Brownsville≈ 25 min approx.
  • UTRGV Brownsville campus≈ 30 min approx.
  • Gateway International Bridge≈ 30 min approx.
  • Veterans International Bridge at Los Tomates≈ 30 min approx.
  • B&M International Bridge≈ 30 min approx.
  • SpaceX Starbase launch site, Boca Chica≈ 45 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 · Los Fresnos

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Listing office: Palm Breeze Real Estate LLC

Listing agent: Tony Altermatt

Office contact: 956-433-5333

MLS# 29780265 · Last updated

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39785 Palm Dr., Los Fresnos, TX 78566 · MLS# 29780265