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# 29777533 · https://ricosalazar.com/properties/7354-folsom-lake-brownsville-tx-78520-29777533

For sale

Single-family home

7354 Folsom Lake, Brownsville, TX 78520

$289,000

Price cut $5K
bd
3
ba
3
ft²
1,685
Est. cap rate 2.8% See the numbers →

MLS# 29777533 · Listed by Teresa Marquez, Aria Group Real Estate · Tel. 956-266-0777

  • TypeSingle-family home
  • Year built2024
  • Lot0.14 acres
  • Price / ft²$172
  • Est. rent$1,800/mo Est.
  • Gateway International Bridge≈ 15 min approx.
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Description

Almost like new . Located in the north

Property Details

Type
Single-family home · Single Family Residence
Status
For sale
MLS#
29777533
Price
$289,000
Price per ft²
$172
Bedrooms
3
Bathrooms
3
Living area
1,685 ft²
Lot size
0.14 acres
Year built
2024
Subdivision
Summer Lakes Phase Ii
City
Brownsville
County
Cameron
Days on market
122
Listed
Jun 29, 2026
Last updated
Oct 8, 2026, 1:59 PM CT

Key Figures

Price per ft²

$172

Source: MLS listing

Estimated rent

$1,800/mo

Gross yield 7.5%

Asking rent: median of 15 active rentals, ZIP 78520, 3 bedrooms (not signed leases) · RGV MLS, Oct 29, 2026

Days on market

122

Source: MLS listing

Est. fixed costs per month
$771/mo Est.
Cash to close with 25% down
$80,920 Est.
Est. cap rate
2.8% 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 15 active rentals, ZIP 78520, 3 bedrooms (not signed leases) · RGV MLS, Oct 29, 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
$21,600
Gross yield: rent ÷ price, before costs
7.5%
minus Vacancy (8% of gross rent) Assumption
$1,728
equals Rent collected
$19,872
minus Property tax Estimate
$6,358
minus Insurance Estimate
$2,890
minus HOA dues, 12 months Not provided
$0
minus Maintenance (5% of rent collected) Assumption
$994
minus Management (8% of rent collected) Assumption
$1,590
equals Net operating income (NOI)
$8,041
divided by Price MLS listing
$289,000
equals Cap rate
2.8%

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
  • 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

7354 Folsom Lake, 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≈ 20 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
Website
https://ricosalazar.com/

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About: 7354 Folsom Lake · MLS# 29777533

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Listing office: Aria Group Real Estate

Listing agent: Teresa Marquez

Office contact: 956-266-0777

MLS# 29777533 · Last updated

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$289,000Est. cap rate 2.8%

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7354 Folsom Lake, Brownsville, TX 78520 · MLS# 29777533