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# 29777012 · https://ricosalazar.com/properties/5020-n-la-homa-rd-mission-tx-78574-29777012
Income property
5020 N La Homa Rd, Mission, TX 78574
$515,000
Price cut $35K- units
- 9
- ft²
- 7,113
MLS# 29777012 · Listed by Ryan Mcdaniel, Effective Real Estate, LLC · Tel. 956-502-0238
- TypeIncome property
- Year built1995
- Lot1.15 acres
- Price / ft²$72
- Rent (MLS)$1,250/mo May be incomplete
- B&M International Bridge≈ 80 min approx.
Description
Nestled in the heart of vibrant Mission, TX, North La Homa Apts offers a prime location with unmatched convenience. Residents enjoy easy access to a variety of nearby amenities, including shopping centers dining options and entertainment venues that make Mission a sought after place to live. Outdoor enthusiasts appreciate the proximity to local parks such as Banworth Park and Griffin Parkway Park, perfect for recreational activities. With its close proximity to too-rated schools, major roadways and all that the community has to offer, North La Homa Apts provides an ideal setting for multi family living: each of the 9 (2 bed, 1 bath) apartment units is fully equipped with its own electric and water meters, ensuring privacy and ease of living. This property is an excellent opportunity for investors seeking a well-maintained asset in a growing community.
Property Details
- Type
- Income property · Multi Family
- Status
- For sale
- MLS#
- 29777012
- Price
- $515,000
- Price per ft²
- $72
- Units
- 9
- Living area
- 7,113 ft²
- Lot size
- 1.15 acres
- Year built
- 1995
- Subdivision
- New Caledonia #3
- City
- Mission
- County
- Hidalgo
- Days on market
- 143
- Listed
- Jun 8, 2026
- Last updated
- Aug 30, 2026, 1:22 PM CT
Key Figures
Price per ft²
$72
Source: MLS listing
Current rent
$1,250
Gross yield 2.9%
9 units, about $139 a unit · may be incomplete
Source: MLS listing
Days on market
143
Source: MLS listing
- Est. fixed costs per month
- $1,373/mo Est.
- Cash to close with 25% down
- $144,200 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
- —
- Rent per unit (9 units), per month
- —
- Gross yield: rent ÷ price, before costs
- —
- minus Vacancy (8% of gross rent) Assumption
- —
- equals Rent collected
- —
- minus Property tax Estimate
- $11,330
- minus Insurance Estimate
- $5,150
- 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
- $515,000
- 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
5020 N La Homa Rd, Mission, TX 78574 Open in Google Maps (opens in a new tab)
- B&M International Bridge≈ 80 min approx.
- Gateway International Bridge≈ 80 min approx.
- UTRGV Brownsville campus≈ 80 min approx.
- Veterans International Bridge at Los Tomates≈ 85 min approx.
- Port of Brownsville≈ 85 min approx.
- South Padre Island (Queen Isabella Causeway)≈ 100 min approx.
- SpaceX Starbase launch site, Boca Chica≈ 105 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
- [email protected]
- Website
- https://ricosalazar.com/
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MLS# 29778179 · Listed by Ryan Mcdaniel, Effective Real Estate, LLC · Tel. 956-502-0238
Listing office: Effective Real Estate, LLC
Listing agent: Ryan Mcdaniel
Office contact: 956-502-0238
MLS# 29777012 · Last updated
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